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He has a point. A bit like being aware that you are aware. Hence i do disagree with Ultra in that death is it. I don't believe the it dies ever and for intents and purposes is immortal. Isn't that one of the traits of a God,lol.
Jersey with respect,you have been saying that for nearly a month now. How about a date we can count on. Not all this up in the air nonsense.
I can assure you some of my family members have lost money on this stock. I like yourself continued to believe the company,however the overwhelming evidence suggests we were all taken for a ride. If i could get my hands on the perpetrators i would hang them high.
The Russians obviously were taken care of,otherwise they would not be still involved with the Admin branch.
My advice to all is to stay long just in case a miracle happens,its not worth selling now. Just don't buy any more of this stock.
I personally wish the best outcome for all the longs,i mean that from the bottom of my heart.
One more advice is to keep away from the pinks and put your money in real money,meaning GOLD.
I will never trust a Canadian again.
How come nobuddy can find out what is really going on with Aurus. Its fine to be long but what has to ask questions as to why the company has yet to produce proof of their gold production.
Is Krong legally bound to Aurus. Thats the first question to be answered.
Its Yukos Canadian style.
That can't be legal if Krong purchase was suspect in the first place. Notice ABVG have not announced the gold tailing project purchase from Red Tarmac. I bet they won't be able too.
2C,why is it that Krong has only got half the tailings that they initially had?
I'am sure the Canadians have his shares tied up so he can not sell them. It looks like the Canadians have no legal right to Krongs gold production. Krong is not legally theirs. Thats probaly why they wanted him to take out the bond.
They can't because they are not in control,the Canadian Admin are.
Thankyou 2C. Its as i suspected. The admin can dilute to the point the Krong shareholding becomes a nonentity to the voting of the BOD.
Valentine would be nuts not to go to the Russian court to ensure he can get his company a clean break from the Aurus shell.
With Belchenko gone so has alot of the mining licenses. What the Canadians have left is Krong... or do they?
Gold production came from Krongs mining license.
Is Red Tarmac the deal the Canadians have come up with to withdraw their control of Aurus shell?
40 million tons of the tailings project could be the sweetner to rid Aurus of the Canadians. That would be a small price to pay at this time.
Its starting to make a bit more sense. The Canadians are the ones in charge of the Red Tarmac shell. They are trying to put a deal together with ABVG.
Maybe there is hope for Aurus if this is the scenerio taking place.
Somebody please ask the right questions and then maybe 2C will answer.
1) Is Krong still a part of Aurus.
2) what happaned to the 200 kg of gold that Krong produced.
3) what portion of Aurus does valentin own.
4) Are the canadians still involved.
5) What portion of the company do the canadians own.
It looks Aurus is just na empty shell now. With Belchenko gone and valentin not willing to part with Krong, Aurus owns nothing.
So who owns Aurus and what does Aurus own? With all the black ops going on i don't where the hell we are.
What proportion of Aurus does Valentin hold or has he found a get of jail card.
2C,What is Valentins next move. Presumbably he held on to the 200 kgs of gold worth about 6 million now.
Going forward how can Aurus escape from the Canadians hold on the company.
DOS,you got it wrong,2C advised him not to convert his stock into a bond,i think.
Great DD Walker,maybe there is hope for GSI yet.
Anyway i am following cdkid out the door as soon as i get a chance. Hiring a stock promoter before you have even achieved some credibility is a red flag in my books. Still the stock should be worth 5 cents,i hope.
Funny enough thats what i thought we were doing. It doesn't work.
Is this the news we have been waiting for. I don't get this aggressive investor awareness program. What is it exactly they are going to make investors aware of. I don't see any completions of deals announced.
Probably the only way to get rid of the Monimpex group.
2C,why are these PRs so important now. Could you tell us where you are going with all thus?
AVBG are closing their deal on 22nd Feb with Tarmac,so at that point we should know who Tarmac Inc are. I think at that point we will find out that Tarmac deposit is the the same deposit as Krong and they are the group that are joint owners of the Krong deposit.
The interesting aspect of all this is that the ABVG ceo has lined up the financing for the 12% stake in Tarmac.
When you do that could you also find out who the directors and holders of Red Tarmac are? Also what sort of document or licenses they hold regarding the mine deposit they are selling. Thanks. Nice to see you back posting.
2C,has Red Tarmac have anything to do with AURC? Is Red Tarmac the holder of the 40% of the deposits that Krong doesn't hold anymore?
Where is this news the company has been hinting about?
I won't be selling until i see some news. The way things are going that could be another 3 months from now. Maybe a MM is trying to shake some shares out. At this point its all speculation.
I want out but i will only sell on the news. Nothing personal to do with GSI,just want to rid myself of pinkies forever. This is the only pinkie i have left.
Looks like somebody used the opportunity to sell. Who can blame them since the company has not put out any PR for over 3 months now. I would even accept a flim flam PR now on what they are doing and status of current business. This NO communication lark is unprofessional.
They really don't have the reality of the urgency involved in these matters,do they?
Looks like they will have to show the relationship with PUMA and AURC now.
Is Kinross also involved?
Show us the Russian version of the TSNIGRI report would be a start.
The next question is,was Krong part of Puma at the time the report was commissioned?
The english translation is just that a translation. I bet the Russian version is the actual report from TSNIGRI carrried out for PUMA. 2C did validate that the dumps on the video his wife took were indeed from Roschal.
I would like to see the Russian version of the document to see if Krong is the actual company used in the document or if was Puma.
There is NO doubt that TSNIGRA did a report for someone,the Russian version will validate Krong as the one that the report was carried out for or NOT.
All this could all be cleared up with the actual Russian document used for translation.
If the pyrite ash was sent in by the client then the client was PUMA. I can't imagine they would be part of any fraud. The reason they (AURC)haven't released the Russian documents relating to what work TSNIGI carried out was probably because the date of the report was stamped on the document.
How did AURC get this document? Puma must have given the document to Krong.
Incidently Puma must have thought there was value in the dumps to go as far as commissioning a report from TSNIGR. They must have thought it was also cost effective to extract precious metals from the site.
Here's the full article...
Auction-Bond Failures Roil Munis, Pushing Rates Up (Update5)
By Martin Z. Braun
Feb. 13 (Bloomberg) -- Bonds sold by U.S. municipal borrowers with rates set through periodic auctions failed to attract enough buyers as banks including Goldman Sachs Group Inc. and Citigroup Inc. that run the bidding won't commit their own capital to the debt.
Rates on $100 million of bonds sold by the Port Authority of New York and New Jersey, with bidding run by Goldman, soared to 20 percent yesterday from 4.3 percent a week ago, according to data compiled by Bloomberg. Presbyterian Healthcare in Albuquerque and New York state's Metropolitan Transportation Authority also experienced failures, officials said.
What began three weeks ago with too few bidders for auction-rate debt backed by relatively small entities, such as Georgetown University and Nevada Power, has widened in recent days to include large issues of state governments, such as New York state's Dormitory Authority. The auction failures provide new indication of Wall Street's unwillingness to commit capital amid $133 billion in credit losses and asset writedowns.
``It's the beginning of the end for the auction-rate market,'' said Matt Fabian, a senior analyst with Concord, Massachusetts-based Municipal Market Advisors. ``Banks have stopped supporting the market.''
Investor demand for the securities has declined on waning confidence in the credit strength of insurers backing the debt, and on reluctance by banks to submit bids and risk ending up with too many of the bonds. Local governments that have borrowed in the $300 billion auction-rate market confront the prospect of higher borrowing costs as economic slowing trims tax revenue.
Auction-Rate Bidding
Auction bonds have interest rates that are determined by bidding that typically occurs every seven, 28 or 35 days. When there aren't enough buyers, the auction fails and bondholders who wanted to sell are left holding the securities. Rates at failed auctions are set at a level spelled out in official statements issued at the initial bond sale.
Some borrowers paid higher rates, even if their auctions didn't fail. Wisconsin's 28-day auction yesterday of taxable bonds was set at a 10 percent rate, up from 4.75 percent for identical securities Feb. 7.
Frank Hoadley, Wisconsin's director of capital finance, said he had no advance warning from bankers about the jump in rates. ``We are making decisions'' about converting the auction bonds to different kinds of debt, he said.
About $8 billion to $12 billion of auction bonds are scheduled for bidding daily, so there are many more issues vulnerable in coming days, said Alex Roever, a JPMorgan Chase & Co. fixed income analyst.
Vermont Student Loans
Yesterday, $27.5 million of federally taxable student loan debt issued by Vermont's Student Assistance Corp. and insured by Ambac Financial Group Inc. reset at 18 percent, up from 5 percent as of Jan. 15. Ambac was the first bond insurer to lose its AAA credit rating.
Local governments are obliged to pay the high rates until either the auctions start attracting more buyers or they modify the bonds to some other kind of variable-rate debt or a fixed interest rate. Bankers and borrowers have been working on conversion plans for several weeks.
The 20 percent rate for the $100 million of Port Authority auction bonds will cost it $388,889 until the next weekly auction, up from $83,611 last week. Interest on the bonds is subject to federal income tax.
`Widening Spreads'
``We have seen widening spreads, reduced demand for certain auction-rate securities and failed auctions, including some auctions in which Citi acted as broker dealer,'' Danielle Romero-Apsilos, a spokeswoman at New York-based Citigroup, said in a statement.
A $100 million Citibank-run auction of state-supported bonds of the New York Dormitory Authority failed yesterday, resulting in an interest rate of 6.26 percent, up from 3.12 percent a week earlier, according to Bloomberg data. Following the auction miss, the interest rate was set at twice one-month Libor, the London interbank offered rate for wholesale bank deposits, according to the official statement for the bonds.
Another failed Dormitory Authority issue, also backed by state appropriations, resulted in a fail rate of 4.69 percent, up from 3.15 percent a week earlier.
Dormitory Authority Auctions
The Dormitory Authority had five auctions for seven-day securities scheduled today and tomorrow for the City University of New York. The authority also reported failures of auction bonds sold on behalf of Memorial Sloan Kettering Cancer Center and the University of Rochester, according to Marc Violette, an agency spokesman.
At the Metropolitan Transportation Authority, the fail rate on a $100 million issue of auction bonds was 4.69 percent, according to Jeremy Soffin, a spokesman for the authority.
The turmoil in the auction-rate market is the latest fallout in a credit squeeze that began with the subprime mortgage market collapse last year.
Bidding by dealers is essential to the smooth functioning of auction securities and banks are now wary of loading their balance sheets with the bonds, said Roever of JPMorgan Chase.
``This market has been under a tremendous amount of stress,'' Roever said. ``Without the dealers providing an active secondary bid, it's very hard for these transactions to clear.''
Bond Insurers
The soured auctions in recent weeks are the first since September, when about $6 billion of auction debt failed on investor concerns that bond insurers may lose their AAA ratings, Roever said in a Feb. 8 report. The latest wave began as recently as Jan. 22, when auctions run by Lehman Brothers Holdings Inc. for Georgetown University and Nevada Power failed.
Presbyterian Healthcare in Albuquerque, operator of seven hospitals throughout New Mexico, had rates on $38.7 million of debt reset at 12 percent after an unsuccessful auction run by Goldman yesterday. Bob Davis, Presbyterian Healthcare's vice president for treasury services, confirmed the failure, declining further comment.
Michael DuVally, a spokesman at New York-based Goldman, declined to comment the failures.
Unsuccessful auctions have hurt companies that bought those variable-rate securities as short-term investments with excess cash, and are unable to sell their holdings. Bristol-Myers Squibb Co., the New York-based maker of the anti-clotting pill Plavix, announced on Jan. 31 a $275 million writedown of its holdings, which totaled $811 million at the end of 2007.
About a third of 449 companies polled in a survey last May for the Association for Finance Professionals said they permitted investment in auction-rate bonds.
To contact the reporter on this story: Martin Z. Braun in New York at mbraun6@bloomberg.net
This is good news for GSI.
Presbyterian Healthcare in Albuquerque, operator of seven hospitals throughout New Mexico, had rates on $38.7 million of debt reset at 12 percent after an unsuccessful auction run by Goldman yesterday. Bob Davis, Presbyterian Healthcare's vice president for treasury services, confirmed the failure, declining further comment.
You can bet that hospitals in similar plights are looking for other avenues to service their debt at reasonable rates of interest. Maybe Buffet will buy GSI.
If only GSI can get that first deal done. If only............
We need an update soon or the price has no chance to sustain itself. Only the rumour mill is holding it up. Those talking about volume being the reason for the price increase are off base. If they had completed a large deal i would think there would have been a leak and the volume would have been much much higher.
At the moment its just another pinkie story stock. Everything is left to ones imagination of fairy tales coming true.
I will give it another month without news and then i'am getting off the train.
doubleeagle who are you trying to kid you probably have made 10 times your rebate check value just today with GSI,lol. Use your rebate to bail out the US out of its derivative nightmare.
BIS Notes $516 Trillion In OTC Derivatives As Notional Value In Effort To Depreciate Number
Author: Jim Sinclair
Dear CIGAs,
I have spent my day studying the report from the Bank for International Settlements that states the size of the mountain of special performance contracts called over the counter derivatives. That category is 96% of all reported derivatives.
I am in shock when I see a total of $516 trillion dollars worth of these weapons of mass financial destruction. That number is still growing exponentially. I also note that the BIS has done hand stands to label this number as notional value in a clear effort to depreciate the number. It is that effort that has caught most of my attention. It is in itself a form of spin doctoring the facts.
The reason I say this is the axiomatic fact that when the losing side of the special performance contract called a derivative fails to perform, as is the case now, notional value becomes full value.
If you fail, defined as going belly up because your debits have eaten all you have, say on soybeans futures, on the day of delivery what is it that you owe. That amount is determined by the market value of all the soybeans being delivered to you. No one on the profit side of the OTC derivative can see it coming because there is no clearing house that pays in to the winner and takes money from the loser daily as in the listed commodity futures markets. Notional value then becomes real value out of the blue, which is now expressed as the marking down of a losing position. Then as Societe Generale is attempting to do, the next step is to be taken over quite quickly or as in the US investment bank’s case, selling yourself to China, Singapore and the Middle East to stay afloat.
Conclusion:
1. There is no limit to the amount of liquidity that will be created by unified actions of all Western central banks in an attempt to prevent the conversion from notional to full value of the mountain of OTC Derivatives.
2. There is no point at which central banks will fail to attempt to drop rates by unified action of all Western central banks in an attempt to prevent the conversion from notional to full value of the mountain of OTC Derivatives.
3. Inflationary concerns take a back seat to the unified action of all Western central banks in an attempt to prevent the conversion from notional to full value of the mountain of OTC derivatives.
This condition places gold at a minimum of $1650 and the US dollar at the major .5200 magnet as a pull from the front will be realized.
This tells me that good gold shares free of problems on the ground, as well as all other types of commodity shares, will NOT fail in the final analysis to go in the direction of the underlying commodity and multiply the gains because of inherent leverage.
The geeks would have you believe that if you can stay in the OTC derivative spreads all markets will return to normal over time and all will be well. They still can't understand all the fuss.
What they in that rarified air of pomposity have forgotten to take into account is:
1. Long can be an awfully long wait, like a lifetime.
2. Notional Value becomes full value when the performance side of an OTC derivative fails financially.
3. Because of bankruptcies and near bankruptcies still struggling, OTC derivatives are now worthless and will remain worthless even when and if the market in question returns to normal; whatever normal is in the first place. Full value has to be written off, rendering notional value meaningless. There is no question in my mind about this. Full value of bankrupt OTC derivatives, according to the correctly given definition of bankruptcy, has NOT been properly written off and much more from many more financial entities is still to come.
The bottom line is the BIS has gone far out of their way to label the $516 trillion dollars worth of derivatives as $516 trillion in notional value, which needs a qualifying statement. The qualifying statement is the reported number is $516 trillion dollars in notional value, but that any or all of that number can and might become full value should the side that must perform become financially unable to do so.
The real problem is that there is no solution once the bankruptcy occurs.
All Western central bank unified efforts are to bull the equity markets and recharge business activity in order to bury the bodies so deeply no one will ever know. Since the grease of the wheels of the equity market is LIQUIDITY, not fundamental business performance, there is no limit to how far unified Western central banks will go in supplying liquidity or trying to force interest rates lower. It is this effort getting out of hand that will give us, to the degree it gets out of hand, the Weimar Republic Shock.
Finally some movement. I was starting to get frustrated. Amazing how the world suddenly seems alot brighter with a small increase in share price. Go GSI !!!!
Can somebody email me and tell me what news is expected soon. I got the impression there might me news this week.