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Argo, just curious about something. If you had a free pass to either travel to see Zoran or do what I recommended to MC, what would you do?
MC, in all seriousness ( don't loook for hidden meanings or twists in my post) Like it ur not, Zoran has a documentable history of, shall we say, dancing with the truth.
If I were you, I'd drive from CA. to the BLM office in AZ. Talk to Paul and then drive to the Abigale / Donovan properties. See for yourself if anything is going on that shows any sign of them going into production by end of this month.
Then I'd drive to Phoenix, drop my car, and fly to Atlanta, and drive to Harbin's office. You might be surprised at how much an engineer will tell when you are looking him in the eye. At a minimum ask the status of submitting the permit & re-zoning applications. You might even drive on to the site. See if there has been any brush clearing going on. Drake said they had opened a work order for that activity.
If you go ahead with your meeting with Zoran, all you'll know, when you walk out, will be what he's willing to tell you.
Since your willing to spend your own money to find something out, IMO, you should find out what's going on with your own eyes.
Either way, you're to be commended for giving it a shot. GLTY!!!
I have an idea Every time one of those rascals mention Jackpot, slap them with of list of things Drake has actually accomplished. That'll shut 'em up!
At the risk of being labeled a member of joenatural's evil cabal, I'll say this.
Bashers that are driven enough to do actual DD to dig up dirt on a Pinky can provide important information to investors that have open minds. With joe, you have to put up with a lot of adhominum crap, but, IMO, it would be a mistake to put him on ignore. If there is factual bad news out there on a Company I'm invested in, by God, I want to know it!
On the other hand there are several negative posters here that offer nothing but "Larry is a crook" post after post after post. I've been reading the Board long enough to have developed my own iggy list. Aggravating joe ain't on it.
Chiricano, are you refering to the Stop sign used by PinkSheets.com? If so that sign won't go away untill ALRY pays PS.com to cover them.
If I'm wrong about this, someone please straighten me out.
My problem with the dilution is that it was unannounced and unexplained. Those of us with open minds can look at the past year and make a prety good guess at where a lot of the money has gone. RHWS cost money. New leases cost money. They didn't increase production from 800+ bo/Q for Q1 2007 to 5600+ bo/Q Q1 2008 by opening some valves. IMO, dilution to grow a Company is accetible. Dilution to keep the doors open or for skimming AIN'T!
There is a lot of evidence funds from dilution went into growing the Company and none that the money has been used to line Larry's pockets. Unfortunately, he has made himself an easy target for detractors who may or may not be on to something. A lot more transparancy is what is needed.
Speaking of detractors. I can't tell when pizzabuster is in his cups or off his meds. LOL. But he brings up a point we had all better be aware of. We really don't know just what we own until Larry publishes full disclosure. Some of these Pinkies can slice up assets like a Benihana cleaver wielder. DRILL4 & I learned that the hard way.
If Larry has indeed ungaged the TA, how can that be anything but good news? First he publishes verifiable Q1 2008 production numbers, then ungags the TA. Let's hope the TA didn't slip up and release ALRY's O/S. And when Larry hears about it he tightens the gag.
After thinking about yesterday's PR, I think it would have had a more positive impact if they had shown monthly production from say, October 2007 through March 2008. This would have enabled us to see the trend and make some rudaamentry projections.
want2day, Does the KS dept that published the gas info also publish oil production numbers. Is it posssible to track ALRY monthly production through official state links?
I'm not an LRY "true believer". I have reservations re-ALRY. However, I do believe that they produced 5,688 bo/m for Q1 2008. There were no weasel words in the number. Their production is a matter of public record through the KS Revenue Dept. For Larry to publish a lie, like this, he would need a fetish for looking through iron bars.
Hello IDRILL, I'll put another spin on today's news. The worst thing about it is that the numbers are so far below the unrealistic forecast that Larry put into people's heads. If we had not had the expectation bubble, today's news would be seen as very positive. A 650% increase in one year!! ~$500K revs a month for a little outfit lke ALRY. Not bad!
Now that Larry has "bit the bullet" and admitted his lower than expectations production, he's in a good position to start building the credibility he had squandered.
Jagman, LOL. eom
don't claim to know a whole lot about pinksheets.com, but I think all the Stop Sign means is that ALRY has not chosen to sign up with PS. Companies that want to be covered by PS, must pay for the service. Apparently the ALRY boyz have chosen to not sign up. However, I wish they would. Even if we got nothing more than a quarterly statement of the OS
As I recall, when PS first started up, there was some controversy over the Stop Sign. The concern was that people would take it to mean something negative. There was also concern that PS's strategy, in using the Stop Sign, was to gently coerce pinks to list with them to avoid the negative connotation of a Stop Sign. " Not Covered" would be a more descriptive designation. IMO.
Argo, I'll tell you why I don't call Drake IR. But first I want to point out a few things..
In January Drake put on their website the ridiculous claim that they could begin mining before they got their permit, as long as they didn't sell the gold they produced until the permit was issued. Does ANYONE still believe that?
The Feb 4 th PR said Dove would begin crating the Explorer 500 for shipment as soon as possible. How about this one? Any believers?
3/11 PR "My team and I will be heading to Georgia in the next two weeks to submit the permits, zoning,---" 5 weeks later it became pretty obvious nothing had been submitted. The same PR said they were awaiting delivery of the Explorer 500. IMO they wanted to leave the impression that the equipment was on its' way. NOT!.
4/23 PR. Ship Explorer 500 about May 1. Delivery on or about June 1. We continue to be in an official silence.
5/8 PR. "Drake and Texas-based Eagle Mining have entered into a formal Joint Venture Agreement on their fully permitted and producing Abigail and Donovan projects," These projects are not fully permitted and are not producing. Eagle's permit is for bulk sampling. IMO,an honest company would have made that clear.
5/9 PR. The first line of the matrix, linked with the PR, read "MINING PERMIT" . Eagle DOES NOT have a mining permit. This is not a semantics issue. A Bulk Sampling permit is NOT a MINING PERMIT.
Now, why I don't call Drake IR. The people that will answer the phone are the same people that have put out all those misleading, disingenuous PRs.
IMO, a more logical question is. Who would call Drake IR and believe a word they say?
CC, Are you implying Drake may be paying Harbin with cash from the $180,000 announced in the May 14 PR? Harbin was engaged on April 4. If that's the case, maybe Harbin has been waiting for payment. Thanks for reinforcing my supposition.
Do you seriously think that on April 4th, Harbin would simply say "We'll get right to work. Let us know where to send the bill." Talk about a fairy tale!!!
No I don't "--figure that Harbin doing the permitting process is going to cost, say, millions of dollars"
In my post, that you replied to, I said Harbin could have charged Drake $ X,000 for the time line and given them an estimate of $ XX,000 to complete the process.
Now pay attention. If I thought it would cost millions I would have expressed it thus: $ X,000,000. Do you see the difference between $ X,000, $XX,000 and $ X,000,000?
I assume the permit guy is with Harbin. Almost two months after it was announced they would be "expediting" the permit process, we hear they are waiting on information from Drake!.
Here's a thought. A little company an engineering firm has never heard of comes through the door and says they want to retain the firm to do a pretty fair amount of work. OK, give us a written Scope of Services you want to contract for and we will get back to you."
The "get back to you" phase includes doing a credit check on the little company you never heard of, that wants to do what? Open the first permitted commercial Georgia gold mine in decades. Anyone care to guess at Drake's credit rating?
IMO, based on real life experience, Harbin told Drake something like this. We will prepare the time frame you requested for $X,000. We will start the work on receipt of a cashiers check for that amount. Our estimate for the remaining Scope of Services is $ XX,000. Please open an impressed account in a local bank for at least half that amount. We will bill against that account. You will re-fund the account, as necessary to pay our invoices up to the agreed limit.
Could it be that the information Harbin is waiting for is the status of the impressed account?
CC, I'm not ROTFLMAO.
GLTA
O/T I can't imagine why the Pres of Shell would say it would take 10 years to produce oil from ANWR. The discovery well at Prudhoe Bay was driled in 1968. At the time oil was selling for about $3.00 /bbl It didn't become economically viable to develope the field until after the Arab Oil Embargo, in 1973 - 1974 drove the price to ~$12.
Construction started in 1974 and the first oil down the pipeline was in 1977. In those 4 years the 750 mile Transmission line was built, a few hundred miles of grathering lines, 2 major oil gathering centers, the infrastructure and the terminal at Valdez.
The Aleyska PL was designed to carry 2MM bbls/day. It now only carries about half that (which is still ~17% of the USA daily production.)
I would guess that the first oil produced in ANWR could be piped to the Aleyska PL and sent to market in less than 4 years and the full range of facilities could be in place in less than 5 years.
To those that say " No use drilling in ANWR because it will take 10 years to get it to market", I ask. Does anyone think we will have less need for oil in 10 years than we do today?
Note. I've been an ALRY SH and a lurker on this BBoard for about 4 months.
Nobody asked me, but this is what I think is the most important thing for DKGR to accomplish to prove they are actually doing somethiing.
Verifiable delivery of the Explorer 500 to a location within a few miles of the proposed mineing operation.
About permits. Submitting a permit application will look good, but really won't mean a lot. It only requires filling out about a dozen pages form along with a survey and some generic design documents. Then it needs to be approved. Even if it is approved, it doesn't mean that riches are necessarily headed DKGR's way. Governing agencies regularlly issue permts that are never actually used. I know that in the building industry, promoters often secure permits to help raise money. Not enough money raised = an expired permit.
Agencies that isue permits have little invested in the permit ever being activated.
On the other hand, a re-zoning application is a more serious event. It takes more action on the part of County and City agencies. They must notify affected citizens. Set up public meetings. Get determinations from their legal departments. Getting a re-zoning approved for something with the impact of a good sized mining operation is a BIG deal. If a company were to be granted a re-zoning approval and then not use it --- they had better never go back to the same agency and request another.
The reason I think equipment delivery is even more impostant than the re-zoning processs is that it will mean Drake and Dove REALLY do think they have sufficient gold identified and have an excellent chance of securing necessary Agency approval.
IMO, everything short of a verifiable delivery of the Explorer 500 could be window dressing.
CC, no doubt you will continue to use your own definition of evry thing to do with Drake. You call it ming but Eagle is operating under the authority of a BLM document titled:
NOTICE OF INTENT
TO BULK SAMPLE understood?
What have I said that makes it sound like Paul is a villan? I've made it clear that he had nothing to say about Drake. I think he would object to you continually refering to the bulk sampling work that Drake is permitted to as mining.
I still don't understand why the Burkett's aren't mining all this easy to get gold, if it so easy and lucrative. They already have all the equipment they need. Their permit is 2 years old and they have done very little work. Paul said they were out for a while last spring. With your scenario tey could have been making thousands of dallars a day on their own.
mkt, that was a civil reply. I had a small position until today. I got in for the third time, right after the announcement about a timetable for shipping equipment. I don't believe in Drake , but thought they could pump a pretty good run on equipment updates. Here it is two weeks after the planned shippment date and we get more silence.
After talkng to Paul, and he confirmed they only had a sampling permit, I sold. I don't believe for one minute that the BLM will allow Drake / Eagle to "mine" the site 40,000 sq feet at a time. Even if this all pans out, they are MANY months from production mining.
You said "Milestones are being met----". What milestones have they ever met?
Thinman, If bulk sampling is so lucrative, why hasn't Joe Burkett and his son been raking in all that gold for thr past couple of years. After all they already have all that equipment on site and ready to go. And they have a BULK SAMPLING PERMIT.
I don't imagine you have the answer, but I think it's a reasonable question.
CC, I really don't think there are any really stupid people here, so you surely don't think you can make people believe that Paul will come out and keep allowing them to bulk test this site 40,000 sqfeet at a time?
Paul told me that the reason it takes so long to get a Mining Permit is because of all the reports and agencies involved.
Air Quality, Water quaality, Archelogical surveys and reports, land use documentation, reclamation plans. And you say they can do this "over and over". It may work for you, but I don't think it will work for the BLM or all the other involved agencies.
From CC. "Thanks for verifying what I posted. " Which posts are you talking about? This was your and your pals' positions were until LT pointed out that Drake / Eagle only had a bulk sampling permit.
Funny. I see no reference to Bulk Sampling Permits in the following posts. An oversight, I'm sure. Ain't it awful that you leave tracks on these pesky BBoards?
-------------------------------------------------------------
Posted by: silverstreak
In reply to: None Date:5/8/2008 1:12:44 PM
Post #of 21055
Drake Gold Resources, Inc. Announces Joint Venture With Eagle Mining.
This Agreement Establishes Drake's First Permitted and Producing Project.
---------------------------------------------------------------
Posted by: Cutting Corners
In reply to: paid pumper who wrote msg# 20769 Date:5/8/2008 8:43:56 PM
Post #of 21055
pumper, I called the BLM in Arizona.
The company is private and is named Eagle Mining Partnership. All their placer permits are in order and we're good to go. NOTE: CC posted this twice.
---------------------------------------------------------------
Posted by: Cutting Corners
In reply to: liketotravel who wrote msg# 20903 Date:5/12/2008 8:31:21 PM
Post #of 21055
And did these mining projects have all their permits in order and verified by the BLM?
=---------------------------------------------------------
CORRECTION: "I don't know how much you know about reclamation work, but you can do much for $3900." Should read ---Cannot do much for $3900.
I talked to Paul at the Kingman BLM office this morning. Eagle does not have a mining permit for the AZ property. There have been several posts made that said they had Mining Permits in place. They have an Intent to Mine Permit.
This is not a matter of semantics, as will be claimed. The permit they have is for bulk sampling only. He did say that any gold recovered during sampling was theirs to do with as they wish.
I asked him what was to keep EM from sampling to their hearts content. He said that their reclamation bond was for only ~$3900. That is the estimate for a 3rd party to do the work. He said "I don't know how much you know about reclamation work, but you can do much for $3900." He said that some miners try stretching their Intent to Mine permit, but there are penalties.
He said this was an environmentally sensitive area and the extent of disturbance would be monitored.
I asked him about the likelyhood of mining operations being resumed by the end of June. He said that Joe Burkett and his son came out from Texas last spring, for a while. They used a small tractor to dump material on Burkett's HOMEMADE dry wash machine. He said they could come out anytime they wanted to a continue sampling. He also said they would not be using a smelter on this site.
He said that if they wanted to applly for a mining permit they would first need to file a Mining Plan Of Operations. He said once it was filed it would be at least a year before a Mining Permit could be issued.
Here's an interesting little note. Paul said I was the 4th or 5th person that had called. Let's see. I caalled, thinman called, CC called, SS called. Paul said that Drake's IR man had called. and "I told him just what I just told you". I asked if he remembered the IR man's name. "Yes, his name is Zoran Minic (sp)
Zoran ain't me! I wonder who he is? Open minds want to know.
In closing, Paul told me he wasn't allowed to give personal opinions or investment advice, but he said I should look on line for the Arizona Department of Mining & Minerals for their mining scams document. Hum . I wonder why he said that ?
Ago, if your heartburn allowed you to read this far, this is an example of real DD.
CC, I'd like someone to explain the geological phenominon that has taken place on the Georgia prospect.
It has been described as a 10+ foot thick alluvial placer deposit. Then they went out and hand picked some loose hard rock samples. Now we have "the gold vein" at the bottom of the alluvial deposit. In classic placer deposits, the originating vein or veins are well upstream of the alluvial deposit. Over geologic time the veins are eroded and washed down stream. There is a process in which the gold bearing structure is decomposed and the resutling gold migrates more or less vertically. But I have never heard of "the gold vein" being under the placer deposit.
Seriously. There may be an explanation for this Drake version of a Placer Upside Down Cake. I, and maybe even some Drake longs, would like to be enlightened.
BTW. You said, " It lead us to the gold (vein)" I think it lead you to where John thinks the vein is. Has it been exposed?
Any chirps on equipment shipping, re-zoning, permit applicationS.
In
I made a post several days ago in which I said that the average oz /ton of the mystery 33 samples was .16 oz / ton. I was wrong when I posted that. I found the following statement in an Alaska DNR document. It's the easiest to understand conversion I've found.
"In the case of these samples, the PPM values are converted to troy ounces per ton by DIVIDING ( emphasis mine) PPM values by 34.3"
Link : http://www.dggs.dnr.state.ak.us/webpubs/dggs/ln/text/ln005.PDF
Scroll down to CONSIDERATIONS. The quoted statement is in the 2nd paragraph.
The avg PPM of the 33 samples is .0046. Using this formula the math is .0046 PPM divided by 34.3 equals .00031 troy oz / ton. I doubt very much if that is a commercial value. Sorry about any confusion I caused.
I never said my calculations, converting PPM to oz / ton, were based on my mining experience. My mining experience is limited to serving as the Facilities Construction Manager on a huge mining project. I was in charge makining the site ready for mining. I do have a lot of experience in excavation, permitting, zoning and international shipping..
I treated the PPM puzzle as a math problem. I stand by my number of .16 oz / ton for the THIRTY or so samples that Drake reported in PPM terms. I still think they were posted as PPM to more or less hide how much lower they were than the .47 number previously reported.
SS, my post that you responded to was taken away, so I don't know exactly how I worded it. But I don't think it contradicted my post that you pasted. My point in the removed post was that they used oz /ton when speaking of high values but went to PPM for lower values. I don't think I said the lower values were non-commercial.
I've read a number of Drake PRs, back to Jackpot, dealing with gold values but I don't remember seeing them refer to gold in PPM until refering to the lower value samples in the 33 sample block.
BTW, I'm no more LT's "boy" than you are Clayton's "boy".
"I believe that delays may have been added to the equation"
Say it ain't so, Joe!
paid, I was going to post something similar. I know a bit about your experience, so I think you are aware of this. When shipping electrical motors and other types of rotating machinery, presevation of bearings, drive shafts and windings on motors is critical. Shipments of this type are given a pretty high priority. Motors must be "bumped" and bearings rotated to provide lubication.
Rumors of a delay may have been chirped, but if there has been a delay, rest assured it's very unlikely it's the fault of the shipper.
MC, I've been speaking about the plannned shiping date, not the planned arrival date. This from Drake's April 23 PR.
"Mr. Jayne was pleased to inform Drake its Explorer 500 has a planned shipping date of May 1".
IMO, until Drake's PRs are no longer laced with these words from their Disclaimer Statement, the Market will discount their every word.
"Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "expect," "intend," "believe," "estimate," "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually," “project” or "projected."
To me, Drake has passed the point of no face saving return with their PRs. They are now on a self proclaimed timeline. The only date mentioned is the "about" May 1 equipment hipmenting date. I guess we could still be considered in the About May 1 time frame, but that is slipping away.
If they hope to be permitted and have re-zoning established within 4 to 6 months , from mid April, they must start making formal applications soon. There can be no believable excuse for much more delay in releasing the Resource Report. IMO, they can't keep this baloon in the air much longer without verifiable good news. ( Calling IR or management isn't what the Market will consider verifiable. )
I sincerely hope Drake is successful. I get no joy when people lose money to a Pink scam. However IMO, there is nothing in Drake's hitory that leads me to believe a word they say.
chillar, whazzup with this stock?
I'm OK with being thought of as a negative poster, but I don't see myself as a basher. I have never communicated, privately, with any of the other negative posters. I don't know what motivates them, though I think they sincerely believe that Drake is, shall we say, not a good investment.
I suspect there are lurkers that read this board that deserve to hear the other side of some of the opinions expressed here. With my background in construction and mining, I hope I sort of balance what's posted here.
Personally, I simply cannot forget Drake's past and think it's foolish for anyone to. If they have ever delivered anything, I don't know what it is. Right now they have a good story, but everything is fix.n to happen. I'm pretty sure you've all been burned by pinks with great stories that were fix'n to happen, that never did.
As I said the other day, irrefutable proof that the Explorer 500 has made it to Georgia. would be a great step in earning trust.
I'm OK with being thought of as a negative poster, but I don't see myself as a basher. I have never communicted, privately, with any of the other negative posters. I don't know what motivates them, though I think they sincerely believe that Drake is, shall we say, not a good investment.
Personally, I simply cannot forget Drake's past and think it's foolish for anyone to. If they have ever delivered anything, I don't know what it is. Right now they have a good story, but everything is fix.n to happen. I'm pretty sure you've all been burned by pinks with great stories that were fix'n to happen, that never did.
As I said the other day, irrifutable proof that the Explorer has made it to Georgia. would be a great step in earning trust.
MC, I heard 'dat.
"What would Drake have to do to earn your trust, and what price do you think it would be when it did? "
Irrefutable proof that Dove equipment had been delivered to Georgia would be a great start. I'm not the only one that Drake hasn't earned the trust of. IMO, they simply must stop issuing PRs ,with less than honest information. Here is an example from the March 11 PR. " "My team and I will be heading to Georgia in the next two weeks to submit the permits"
5 weeks later the Permitting Update was issued. Yeah, yeah, I know. This was a mistake. They really, really thought they could submit permits in two weeks from March 11. IIMO, a more likely explanation is that they wanted to put people in a buying mode. But it didn't work. Why? Because, IMO, they have a well earned trust deficit.
About permits = GOLD. It may come as a shock to you, but Pinkies have been known to have gone to the trouble to obtain drilling permits, hiring a drilling rig, setting up on the location and actually drill a hole in the ground. They then "pumped" the hole in the ground, all the way to bottom. True Believers bought the stock, but the only money ever made was through selling stock.
CC "I talked to Susan and she referred me to Mike because there were questions she couldn't answer.
CC post # 18052 "Yep, and I talked to Mike and he said 90 days, plus or minus. Ashley referred me to Mike as she thought him more knowledgeable. Call again and ask for Mike. 404-362-2696."
So. Susan & Ashly both referred you to Mike. LMAO ( You use that a LOT. Did I spell it correctly?)
I'm making an issue of this because I think you are trying to cast doubt on the things I quote Susan as saying. I don't know what position Ashly holds at the GA SMU, but Susan is the Manager.
CC, now that no one is claiming that Permit = GOLD, I'll not be bothering the Georgia SMU.
I was going to call Susan Wagner, the Manager of the Unit. I talked to her 3 times about Drake's perposterous claim they could mine gold without a permit. At the time, I gave her name and phone number. It's called DD.