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Summer has nothing to do with todays trading and if the stock drops one seriously has to consider a new round of dilution occurring.
The next multiple trades should give an indication if that is the case.
Incidentally I think the stock could have easily dropped far more this summer.
They seem to have no intention of keeping their shareholders informed on extractions or production and without declared Revenues and extractions how could the stock ever go up.
We will be fortunate to hold current prices with today's barrage.
eye
Wonder what the next multi trade will be for.
eye
This is the most peculiar trading I have ever seen here.
It appears to be trading in board lots or something of the kind.
WE almost broke out past .0012 till it was reigned in.
These kind of trades should put us on a most active list anyway.
eye
Actually things are looking up somewhat.
Too bad the share price didn't respond favorably but the TV ads should be starting soon.
Hopefully that makes a difference.
I would like to see progress on the mines or at least acknowledgment that they still belong to the company.
Haven't heard anything about the ERHU Hospitals either.
eye
That is awesome but seems a little strange.
Are you sure there wasn't a reverse split.
Even a stock emerging from Chapt 11 shouldn't have that type of advancement.
eye
Thought he was gone before but he lingered on.
Still don't know if MCDA has control of the mine sites.
Good to see mellone gone none the less.
eye
My facts are impeccably straight as past SGCP PR's, FR's and chart shows.
They are very concise and well documented and I have really only scratched the surface.
Even the filings show the considerable dilution required after past failures, delays communication fall outs occurred.
The plummeting of this stock coincided clearly with failure to execute on highly promoted activities and development. This was amplified by shareholder avoidance and sub standard communication practices.
This in turn had a far more profound effect once dilution was required to raise Capital.
Some of the same sub standard communication practices continue to this day.
You may not like to hear it but everything I have posted is true and the fundamental problems continue.
I recognize progress has been made and have noted that but the fundamental problems have not changed.
Communications are still restrictive despite the recent release of one of their best Updates.
They have not been able to Execute on past Projects, equipment acquisition, JV's and equipment placement.
Hopefully that will change but only time will tell.
eye
Like it or not investors never will until the company Promotes itself properly through clear and informative PRs detailing production, extractions and Revenues.
There are agencies designed to do that for company's that can't or don't want to do it themselves but we do have the manpower to get the job done ourselves.
They also need to do Execute their plans or at least explain why they couldn't.
FR's may give some investors here warm and fuzzies and they may buy more shares but the Junior Mining Industry won't even know about those type of Updates.
Not saying they are not helpful but am clearly saying they have far less impact on the mining and investment industry.
With the predominant selling here of late it is clear a number of investors have concerns.
Without Market demand even key positive developments can have flat impact on share price and shareholder value.
I really hope gold production does quadruple and have clearly shared my optimism with CC Projects.
I do know that market has been hit hard by global economics taking precedence over climate change.
The carbon market is picking up momentum once again though. Massive heat spells and environmental disasters though devastating in nature do draw attention back to environmental concerns and show there is cost whether these areas are addressed now or later.
I still do not see the potential in Biomass as I don't understand the applications but the potential in Agri Projects was vague as well.
There is now a clear picture as to how the agri projects can become profitable so the Biomass option may become apparent as it is developed.
The fundamental problems with this stock is and always has been communications and failure to execute what they say they are going to.
They have pumped and promoted to many things followed by poor if any Updates.
Unforeseen complications are troublesome but not unheard of.
Hiding, avoiding and refusing to address and explain those conditions after significant build up is disastrous as the chart clearly indicates.
The stock collapsed with that management style and action.
Positive developments drive a stock when properly promoted.
Negative complications need to be addressed and explained and most especially on projects or plans that have been clearly hyped or promoted.
When Negative complications are addressed the fall out is far less impacting than just not talking about them again.
In our case it increased the amount of dilution as the stock price had already been driven into the ground.
The funds raised through dilution were for equipment acquisition and Operating Expenses and were probably funds well spent.
We just needed to dilute a lot more because of the substandard communications which drove the stock price down to raise targeted Capital.
If mining extractions quadruple and or our CC Projects sell what should be massive developments will be hugely curtailed if that info is only released through FR's.
It would have limited exposure and impact of highly beneficial developments.
PR's will have to be released if shareholder value is ever expected to reach its full potential.
The company needs to Promote itself no matter who says otherwise IMHO.
The market and chart seem to agree.
eye
It does look they have never been this prepared before so I really hope they execute on these claims.
The Update does say there is a dredge in Operation but makes no mention of any wash plant working with it currently.
A simple detail that could be the difference between additional dilution or covering Operating costs through Revenues.
I can't be the only one that noticed that.
Hopefully it was just overlooked.
There should have been an Update on the test plot as well.
I also hope you are right that the bulk of production came in late May or June as I have also suggested.
If so it would explain the delayed communications and would also set the company up very well when they can actually place all of their equipment next year.
If things go according to projections the company does have a chance at building shareholder value eventually but that can't happen without proper communications and Promotion.
Executing on their plans has got to help though and if their last Update is true should be easily doable.
eye
You are entitled to your opinion but I fully support everything I said.
The company did pump the Pampana River and the Hard Rock mining Projects which caused the stock to rise significantly.
It was the launching platform for this stock.
It wasn't just the Alieu Madhi Report it was the results from the bulk sampling that exceeded Madhi projections by 300% in the Pampana Property.
The Hard rock promos went on for months and both those Projects were built up for months and months on end.
The truth is that is about the only time the company ever did properly promote itself.
Dropping those projects with no explanation is what caused the stock to plummet.
It wasn't the problems that collapsed the stock it was the avoidance of those issues that the market reacted to.
I never said John did have anything to do with the dismal choices that created that plummet.
He did say he became involved to address communications because of communication abuses.
He came into the picture after most of that fallout had occurred.
His focus was to address shareholder communications and yes he did tell me that.
PR'ing is what Junior Miners are supposed to do. Its called keeping investors informed and Promoting the company.
The problems come in not Executing what you say you're going to and trying to hide those developments.
Addressing the problems of that day would have had far less negative impact on the stock and would have resulted in far less dilution once that became necessary.
Simply failing to mention them again however had a disastrous effect.
The Pampana results were not mediocre in any way and those extraction results were well documented.
The only logical argument against PR's is the fact the company did not execute on their claims.
It makes no sense to oppose PR's in favour of selected FR's omitting key data.
The Hard Rock and Pampana River abandonment already caused the brutal collapse of this stock.
It is only the CC Projects that inserted any real life after that.
The first Operational dredge was reason for optimism until once again after months and months of silence it was revealed the dredge did not process material it only prepared it for processing.
There was no FR or PR that explained that it was once again found out well after the fact.
Personally I would be surprised if we ever get back into the Pampana area.
The local chief was well aware of the Madhi Report and knows full well the value there.
If SGCP does not mine it someone else will get those rights eventually.
He also knows Doug walked away from it which doesn't build lasting relationships.
Granted the hard rock concession is expensive but the Pampana Project was not and held massive value even with gold around 600 an ounce.
TORONTO, June 4, 2007 (PRIME NEWSWIRE) -- Sierra Gold Corporation (Pink Sheets:SGCP)(Frankfurt:JYB) commissioned geologist Alieu Madhi to do a report on the potential gold reserves of the Pampana North property. The report estimates the gold reserves to be just over 936,000 ounces. At US$659.10 /ounce (May 31 second London fix price), the value of gold reserves is US$616,917,600.
Further testing showed those results were low.
They were working that site with picks and shovels basically which couldn't be any cheaper.
They clearly should have addressed the problems there instead of skirting around them and choosing not to mention the Project again.
My accounting of events can be pretty easily verified from the PR's themselves.
The company was launched due to the hard rock and pampana concessions.
Of course the mobile processors played a part but thats another story.
eye
Well Gem just to be courteous I will reply.
A phone call will not return massive losses. It was a process through bad managerial decisions and continued abuses that caused this stock to plummet.
I see some of those practices repeating themselves and will share them if I choose to. I know the effect they can have.
I don't need to talk to you or John or anyone to know what happened.
I was here through all of it.
I also have every right to criticize info that restricts the flow of info to their shareholders.
I happen to be one.
If you want to contribute to humanitarian endeavors try World vision or numerous other humanitarian efforts concentrated on just that.
I expect them to provide humanitarian need with those donations
and I have supported many of them myself.
As far as investing and business goes it is a good thing that our investment may help increase the quality of life for people in SL.
That is a noble cause for SGCP management to support but as a Publicly Traded Company they should be focused on building shareholder value as well.
So far they haven't done so well as a basic 2 year chart will show.
A 3 yr chart is even scarier.
SGCP is not a Registered Charity they are supposed to be a company focused on mining and becoming profitable.
That is by their own admission.
It is up to them to do what they say they will and that is one of the things the market will use to judge them and did.
They did well as they pumped hard rock mining and the Pamapana River but the stock crumbled as those Projects were abandoned with no explanation.
As far as the Pampana River project went they just decided to never mention it again after Reporting increased Recurring Revenues with plans to expand fourfold.
That would have netted more extractions in one month than all of our current Operations did in the first six months of 2010.
Johns initial focus with the company was supposed to be in communications. Thats what he told me and he claimed the website was part of that focus.
You can extol the virtues of John if you like but choosing to resort to a semi annual extraction reporting period has blackened his efforts in communication and he knows it.
The fallout from that decision made that clear.
I think John did an excellent job with the CC development and maybe he is trying to improve communications but he really should have known better with his past involvement with the company than to try what he did.
Management has used communication to limit the flow of info and delay releasing negative developments time and time again which had horrendous impact on stock price.
Repeating those mistakes will not correct anything and certainly will not build shareholder value.
Management has cost me too much to be appeased with humanitarian support.
I would like to see the people of SL prosper with us but that would mean shareholder value increases as well.
Otherwise I would rather support humanitarian need directly through non profit agencies.
I raise concerns counter to your bias and position and I can and have verified them.
There is no doubt about it. I am pretty clear in what I have to say.
I have no intention to stop until management quits making the same mistakes and starts building shareholder value.
I may reign in if I see any real attempt to improve communications and build shareholder value which is why I have held my piece lately.
If you want to continue needling me I will be happy lay it all out more clearly.
eye
Well that certainly added a lot to the conversation.
Perhaps you should have been a sci fiction author.
Its a whole lot easier to see how all the real issues drove the stock into the ground.
Hopefully they get it together in spite of that.
Have a nice trip.
eye
To each his own I suppose but a mining company intent on its mining focus that is actually extracting product from the ground is negligent in not relating that info to its shareholders monthly.
Especially since they established that process in the first place and they have a limited Operating Season.
Any company trying to build value for its shareholders would gladly release that info and all the more likely if they need additional financing.
Pretty basic stuff even for Pinky Land.
The number of Pink Sheet companies I have seen in the past that were not in the Revenue stage is staggering.
REvenue and dividends is what the market thrives on. Silence, avoidance, dilution and poor performance drive it the other way.
Companies need to execute what they say they will. Actions take preference over intentions.
If nothing changes past mistakes will be repeated and already have.
Management started the process of reporting monthly extractions in the Pampana JV and similar reports throughout all of the subsequent dry seasons its no wonder why the stock dropped so significantly once again.
Fortunately some positive developments have occurred as well and you have to hope some of the things the company does well will offset the things they do poorly.
Of course one could always hope they would continue to do the things they do well and learn from and improve the things they do poorly.
I think they are starting to in mining but are still poor in building shareholder value, Promotion and communications.
The last communication does show they are trying though.
eye
Reasons for Optimism
- Global warming is becoming undeniable and with each year and decade becoming hotter than the last it is hard to ignore
- global incentives to aid developing nations prepare for climate change greatly enhance SGCP's Carbon Credit Projects.
- our CC projects cover replanting forests and vegitiation, protecting existing forests, developing value in lumber, pulp, paper, charcoal and biomass and last but most importantly providing direct benefit to the people themselves in food and jobs.
Our CC Projects cover every carbon based option discussed at Copenhagen on a Global Scale.
Our CC Projects are tailor made to meet those expectations and I think by far this has been the greatest contribution John has brought to this stock in helping us get here.
Do not forget we already have a test plot that should not only be growing, it should be producing shoots that can be replanted to expand the Operation.
Our Mining Operations have had numerous shortfalls, delays and setbacks but has had some very key developments of late.
We had one dredge and two wash plants in the country last year at the start of the dry season that never got utilized based on the company's own admission.
The compound just recently completed will allow for a central location to store, maintain, develop and place equipment that is close and easily accessible to current mining sites.
It allows for housing of out of country Operators and Visitors and should be easy to develop clearer communications.
There are roads completed apparently right to current Projects.
This means that equipment placement and deployment should never be a problem again and should actually enable the company to place and begin working equipment as early as Dec for next mining season.
Dredging through the rainy season and perhaps starting a second dredge in the rainy season of 2010 could provide sufficient Revenues to stave off additional dilution until next mining season.
That is only possible if mobile processors are extracting gold in the rainy season in conjunction with the dredges in Operation.
If not the dredges will stockpile washed material that can be washed away as it has in the past rainy season according to discussion of that day.
The chances of additional dilution or an increase in O/S is far more likely if we do not process in the rainy season with our dredges and wash plants.
Finally the company has shown the Farming Operations for the first time can actually be profitable. In the past they were used to feed our workers.
I believe Bike was the one that said one third of our harvest is used for replanting.
That means if workers get one third and the next third is used for replanting the remaining third is profit.
With the addition of a tractor and the governments stand on agriculture it is likely those Projects will grow significantly.
I have also heard that there are two growing seasons in SL but I don't know if that will apply to all our crops.
We still have significant potential in CC's, mining and agriculture.
Either of those prongs could advance the company significantly but mining and CC's offer the quickest return.
Still reason for concern but also reason for optimism as well.
eye
In reality it is just guessing to know the current O/S but they have clearly used dilution to cover Operating Expenses during the first quarter.
It is possible dilution in the second quarter could have been offset by Revenues but far more likely those Revenues were not realized until just recently.
Firstly they would have had to be produced and secondly then sold.
If the company was extracting significant gold extractions in the 4th & fifth month they would be simply foolish not to report it and there is absolutely no excuse for them not to.
They always did in the past.
I expect we never got our dredge and wash plants working until late May or early June.
Unfortunately that points to additional dilution in the second quarter.
It is simply a stroke of the pen essentially and a very easy process to increase the O/S once again and anyone trading Pinks knows that.
I still see the greatest potential in our CC Projects but that market has been dismal all year.
It is showing signs of life but the next major conference is in Nov / DEc and if the temperatures are cold it is hard to sell Global warming.
Global Finances and Recession woes have stalled environmental investment but the global heat waves and scientific evidence is mounting once again.
The latest mining developments were strong to end the year.
The biggest problems IMHO with this company is and always has been execution and communications.
They have fallen short on Projections and equipment acquisition and placement time and time again.
They have also used communication to limit the flow of info, avoid negative developments and delay poor results.
Even their better communications always leaves out key info.
We were just told that dredging was going to continue into the rainy season but not told a processor would be extracting gold in tandem with it.
Very key info as it would show extractions during the rainy season for the first time and would show Revenues that could prevent the need for additional dilution.
Thats pretty basic shareholder communication.
Those same dismal past communications drove the stock price down in very short order far more so than any newbie now could relate to.
The company kept its investors in the dark but still haven't figured out that the market responded drastically to that management style.
Funny thing is the company thinks it is actually acceptable practice.
Clearly they intend to continue the same philosophy with only two extraction reports a year instead of monthly reports in the dry season at least that they have given ever since they starting extracting gold in Sierra Leone.
The inference that policy could be reviewed or changed is simply damage control and means nothing.
They have abused communications so much in the past nothing short of actual Updates means anything.
Based on past communications I doubt much will ever change.
The only hope is that some of their more positive developments will build shareholder value anyway.
A CC sale would have significant impact which would be compounded by the other two CC projects we have in the works.
This is the best our mining Operations have looked in a long time but most don't even realize this company was launched essentially on the hard rock and Pampana River reserves that actually were properly promoted.
Even with all the current machinery we are only just closing in on the same production results we had in the Pamapana River with no equipment at all.
Not rocket science the stock plummeted after abandoning that site with no explanation after promoting it and the hard rock site so extensively.
I have clear concerns with the company but have reason for some Optimism as well.
I will post some of them also to show not everything is bad here despite past performance.
eye
eye
Ihub has sales at 31,862,050 compared to 13,981,758 in buys.
Clearly more were sold today than bought.
It could only have occurred with shareholders selling, dilution or Shorting.
It was however a dramatic increase in share volume over a considerable period.
The price actually held up not to bad despite the significant selling.
eye
It is extremely difficult for normal traders to short penny and micro penny stocks.
Many Brokerages will not allow it.
Some allow it for hefty prices.
I deal with 3 online brokers in Canada and have been told clearly I can not short a stock trading under 1.00.
MM's on the other hand in Canada and the USA can short these stocks at will.
MM's do have their own trading strategies the same as the rest of us.
Those employed by Hedge Funds are far more likely to be active in
Shorting activities where as MM's working for Online Brokerages are far more likely to attain Market Share.
They will receive commissions on all trades closed so will want to be active in as many trades as possible.
Large volume stocks are far easier to play by MM's because they know if they keep buying at the bid they can dump them at the ask.
I would bet that there are very few if any individual investors that are able or active in Shorting stocks.
It is far easier to try to manipulate stocks by either P or B'ing stock on stock message boards.
eye
MM's can trade two ways.
They can buy and sell stocks for themselves which could include Shorting or they can buy and sell for clients.
All brokerage houses have MM's they use to place trades for them but they will choose MM's that can close all trades.
As a result they have to pick volume traders which are confined to MM elite.
NITE is used by many of the top Brokers, the other volume leaders are ETMM,UBSS, AUTO,HDSN and DOMS.
VERT has also been active in SGCP.
MM's buy on the bid and sell on the ask.
In a healthy market if you want to buy you will have to pay the ask and if you want to sell you have to sell at the bid.
There are exceptions to that rule.
Any of the MM's I listed could buy for themselves or their clients.
Those that buy for themselves can work with others at times to incite drops or spikes.
Shaking the tree and dead cat bounces are examples of that. They can occur when multiple MM's want to see the stock go the same direction which is usually down.
Volume traders will never get stuck in a run. They simply buy at the bid and sell at the ask.
It will not matter how high the price goes and if one does get in a tight position although I have no proof I expect they bail each other out at times.
If MM X needs 5 Mil at the bid MM K may give them to him for future or past favors.
They have an intricate communication system that I expect is always changing.
It is not unusual to see a tiny volume or value trade go in worth less than most broker fees which predecede a stock price movement.
These are referred to as signals.
Much depends on the market itself and if investors are buying it should place upward pressure on stock price and if they are selling it puts pressure on a downward trend.
The truth is the OTC BB and PinkSheets are controlled by MM's and we can not trade without them.
We are therefore subject to any manipulation they may bring.
We as investors here would rather see volume traders as opposed to MM's known for Shorting as is IMHO AUTO.
With volume traders it doesn't even matter to the MM's if the stock goes up or down as they make coin either way.
It is therefore not necessary for them to keep the price down.
There is so much more to say if anyone is interested and only the MM's themselves truly know all the details but much can be gleaned by simple observation and dd.
eye
There has always been serious concern for this stock and it could easily drop back into the trip .000's.
It could also spike back up just as easily.
It does appear to be holding at .001.
I see it is back to .0011 on Bid and .0012 on ask.
It is very interesting to see DOMS on the bid as they have in ther past been neutral in this stock.
His ask is .0037 which means he is a motivated buyer and was the first to raise the bid back to .001 and then to .0011.
The normal players UBSS, NITE, and ETMM surround the closest bid and ask as usual but it is far more interesting to see new MM's enter the active zone.
I do not read dilution on L2 today but I WOULD GUESS THERE WAS A FAIRLY LARGE seller dumping a position.
Shorting is always a possibility.
Dilution would have sustained a more prolonged and abrupt drop IMHO.
Based on my observations you also see more MM's active in Open Market dilution which has become a rare practice.
Most companies dilute through Private Placement or Death Spiral Financing if they are desperate.
This company should not be Desperate but their refusal to release monthly extraction and Revenue Reports will make it harder to achieve favorable terms in any financing endeavor.
The chances of some form of toxic financing become far more likely without declaring and showing monthly recurring Revenues.
eye
Certainly some truth in that but depends on the services that are inflated.
Contractors underbid each other all the time and often eat taxes to gain work or market share.
It is not uncommon in most consumer products.
If items such as food and gas increase all one can do is try to cut down on their use. They are essential and we must have them.
Expenses are the cost of doing business and profitable companies can afford to pay to clean up their act.
Some of the key industries targeted first in carbon trading plans are not hurting industries and will ante up all on their own.
The Auto industry can't afford to increase prices over climate control, it is a highly competitive market as it is.
There could be some sort of carbon tax built into Auto sales but the competitive market would still have auto makers lowering their price to sell their vehicles.
There is a limit to what consumers will pay to corporate America for their goods if their prices increase dramatically for climate reform.
Industries have to encourage consumer use and many consumers will simply be content with what they have now instead of buying new because of additional cost.
eye
How do you feel Cap and Trade hurts America.
I believe it puts the cost of climate control back on the industries that profited on getting into this position.
The only other way to pay for climate control is through taxes that force that burden on all taxpayers.
Once again the general public would be forced to pay the expenses of Corporate America.
Furthermore by not addressing Climate Control the companies that have reaped profits by avoiding those issues not only get us to pay for their obligations to clean up the mess they first got to glean inflated Profits by being able to avoid those obligations.
There are no other options to pay the cost of Climate Control. It will come through a form of Cap and Trade or it will be a direct tax to taxpayers.
France already pushed for taxation and any other country willing to address the issue already understands it will be through a tax or cap and trade.
France did have opposition so I don't know if their taxation plan worked for them till I follow up on it.
There are simply no other options with the exception of a combination of both taxation and carbon trading.
A number of countries have already taken steps toward a taxation method or have determined to start their own carbon trading market.
It just comes down to either taxpayers or industry footing the bill.
Carbon TRading does not make industry stop polluting. It makes them offset the pollution they are creating if they don't reduce the pollution they created.
eye
According to SGCP's last Quarterly Report there were 1,562,418,102 shares O/S as of Mar 31/2010.
There will be no further Update till the next quarterlies on O/S shares.
The 1st qtr set of financials showed significant dilution to raise Operating Capital for the Reporting Period.
They could very well be maxed or close to it by now.
eye
Now that you mention it I remember finding several sites planted in the USA.
I thought they were in Texas though but it could have been Florida.
eye
Fortunately winter in SL is warmer than most parts of Canada in the winter.
If the bugs are content with the foliage it shouldn't be a problem.
eye
Hey Burr
I am not to concerned about bugs eating leaves.
The ones you have to worry about are the boreing ones that go right into the trees.
They are the ones that destroy lumber value and can be quite devastating.
On the West Coast we have several that drastically reduce the value of the trees for lumber products.
The real clincher will be what bugs are in SL.
I do slightly recall that these trees are supposed to be resistant to bugs.
I will have to look back into the sources I originally pursued.
eye
Thx Burr. I had pswculated in the past that theses trees coould put out suckers which could be replanted.
I know they do once they have been cut down.
That not only cuts the cost of buying new plants it will allow those suckers to grow significantly before doing so if managed correctly.
Are you saying that the trees are not bug resistant?
If so that is not a good thing for a number of reasons.
eye
Not so good American CC news.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/07/25/EDSL1EJ0V5.DTL
eye
It is hard not to get excited about kiri trees with even little bits of research..
The blooms are good for honey, the leaves sweeten the soil, the trees themselves can be used for pulp, lumber, charcoal for heating and the Biomass opportunities just have not yet been clarified.
The growth is exceptional and I saw some picture where the trees were tall and straight and others where they are multi limbed but not straight.
Lumber requires straight lengths but all the other products I mentioned would do just as well whether straight or not.
eye
Well Pro I appreciate you're sincerity and I had hoped to avoid a history lesson which I must now consider relating.
Won't be this week as I hope shareholders will actually get to enjoy a positive moment but it is coming.
Dougs motives to improve the quality of life in SL is honorable but he should have put far more dedication in returning value for the shareholders and investors that financed those endeavors.
If Doug was simply a humanitarian the focus on the people of SL is totally reasonable but raising those finances as a Publicly Traded Company requires building value for shareholders as well.
The actions and practices of management clearly drove the stock price down and that is clearly seen and easily proven.
John has had mixed success and I will comment in further detail next week. He has made positive contributions that deserve recognition but he also deserves to be called to task on his shortfalls and failures as well.
All Executive Directors of Publicly Traded Companies have a responsibility to build shareholder value, not to destroy it.
I know what caused the dire and drastic stock price collapse. I lived it and paid dearly for it as did many others.
Unfortunately I may now be forced to share with all so that they can truly make informed and balanced decisions.
Management deserves responsibility for good and bad choices they have made.
They are also totally on Topic based on TOU guidelines.
eye
If you think I would walk away and take masses losses silently you are insane.
It has taken years of bad management practices to drive the stock down to the mediocre prices many are now able to buy into.
Executive management is in the headlights of Publicly Traded Companies at all times not me nor any other Investor.
They are the ones who are supposed to be accountable.
I have posted a lot of positive remarks concerning the last FR. If you want to take pot shots I could easily post all the failures, delays, machinery not meeting expectations or specifications, dismal communications, ridiculously poor promotion, huge dilution in spite of initial claims not to do so and s0o on and so on.
My concerns were never born free.
They came at great cost to investors who have every right to vent their frustrations.
They have always put out PR's that are missing key data. In fact often were designed to avoid clear communications.
If you must know, they clearly left out whether they have a mobile processor working with the dredge now in Operation.
That is crucial info and especially if they indeed need to obtain financing.
Anyone informed following Pink Sheets and OTC companies know the process to get financing.
Without Recurring Revenues and Promotion favorable terms become highly unlikely and the possibility of destructive financing Options becomes much more prevalent in these markets.
Also if they are not producing gold with the Processors now than financing and further dilution is inevitable.
I have posted a lot of good things lately and I did post we should enjoy the moment.
If you all really want me to post all the failures that brought us to these decimated prices just keep pushing.
It was me and many others like me that paid for those mistakes.
Not John not Doug and certainly not newbies who think they know better.
Management needs to take responsibility for driving the stock down and they should be comitted in rebuilding shareholder value.
As much as many may think they are FR's will not gain market share, Promote the company or build shareholder value.
It will take positive after positive PR with honest and open updates on Production and Revenues.
The failure to live up to past PR's is what drove the price down and it will take the opposite to build it back up.
Enjoy the moment as I stated or Provoke a negative response, its up to you.
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This isn't the first time we will be dredging in the rainy season but it well could be the first time we have had our mobile processors working in conjunction with them.
Talk of a second dredge is encouraging also.
Don't see why they wouldn't want to say our mobile Processors will be working with them though.
If the company needs a loan they should be playing Positive Developments and reporting Recurring Revenues.
If they would learn to build on Momentum the company would obtain far better terms on any loan and the gains of today could be paltry.
A lot of good stuff in the FR today that should have been said to a broader audience but promising none the less.
It sounds like the statements and Projections today are more realistic than past failures as they have planning and framework surrounding them.
The equipment we do have and should have for next season will be easily deployed if they were telling the truth.
They were building roads last year so I find completion of those roads now likely based on the FR today.
Delayed deployment of equipment and late start ups have been one of my biggest concerns.
The FR today clearly addresses that concern and can lay it to rest if they can do what they said they will.
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That is precisely why PR's are far more beneficial and can add value to the stock in short order.
They have a cost but they have benefits as well.
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A good L2 system is almost imperative when trading Pinks and OTC BB stocks.
Sign up and see for yourself and if you do and want to know how to understand it give me a shout and I can explain it.
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It was Johns job to improve communications a long time ago.
He made improvements and also created some serious stepbacks.
This is clearly one of the best FR's we have ever been given but still holds back pertinent info.
Don't want to spoil the moment so I will comment on positive developments.
Having our equipment centralized for maintenance and distribution close to active sites with completed roads to those Projects is clearly a first and is a huge achievement.
We had 2 wash plants and at least one dredge that did not get placed or Operational in the first 3 months of this just past dry season.
It could have been well after that before they became Operational.
Having said that rapid deployment and Production capabilities starting in Dec of even the beginning of Jan would be a huge step in the right direction and would add credibility to the company.
It appears like there may be Profit in farming after all if there are actual buyers for our surplus crops.
One should remember however that much of our harvest is used for replanting purposes.
The Biomass opportunities need to be clarified.
We know that the forward sale of our CC Projects can reap 8 digit income and that lumber , pulp paper or heating fuel Revenues can be gleaned from initial harvest but the Biomass prospects are rather hazy.
One of the key tidbits not shared is whether we have a mobile processor producing with the current dredge in Operation and if the other will be used in conjunction with another dredge.
I agree it is a very good FR but I am not going to thank John for doing what he is supposed to.
If he doesn't take credit for dismal communications should he receive cudos for doing his job?
Rumour has it John is looking for financing.
If that is true he should have put the FR out as a PR and reported Revenues in July and Aug.
If shareholders want to be kept in the loop what do you expect creditors will demand?
This was a good FR but I have no reason to expect less unless based on past experience.
Still room for improvement but clearly making progress.
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Here it is
Field Report; July 26th 2010
Mining operations:
Sgcp currently has one dredge in operation in Zimmi. Doug Evans will be leaving for Sierra Leone early August and will see if we can operate a 2nd dredge during the rainy season.
We will be starting the new mining season with (3) fifty ton per hour dredges, (1) one hundred ton per hour dredge and two wash plants. All roads have been finished along with compound. This will also allow us to keep equipment near our mining operations.
We are planning to start building our 2nd 100 ton per hour dredge by the start of December. Estimated manufacturing time is 60 days
Sierra Leone experiences a hot and humid tropical climate with a wet and dry season. The summer rainy season is between May and October with most rain falling in July and August. Because of the marked seasonality of rainfall the rivers become very swollen in the wet season and may flood extensive areas. However, water levels fall by as much as 26 feet in the dry season when the rivers may be reduced to shallow streams.
The above conditions will determine the start of the mining season. Please understand that it takes time for the rivers to go down once the rainy season is over. This being considered to give an exact start date for full operations would be irresponsible in my opinion
Agriculture:
All planting is complete on 1500 acres of land
Crops planted are rice, sorghum, cassava, peanuts and corn
We are planning to have two harvests of peanuts
SGCP has acquired one tractors to increase the size of are agricultural operations
SGCP has started a program to benefit the local villagers and SGCP. For every sack of produce given to the villagers SGCP will receive 2 sacks in return. This will increase the food supply to the villagers and SGCP will receive a 2 to 1 return.
The next report on Agriculture will be at harvest time unless something changes. When and if changes accrue we will advise in field report
Carbon Credit Project:
We are presently waiting for the completion of the biomass PDD by Green Giant Venture Fund. The PDD is 90% complete and we have advised Green Giant Venture Fund of our disappointment in the delay. SGCP will do what ever it takes to make sure this project will continue to move forward in a timely manner.
With the final arrangements completed for the upcoming mining season and crops in the ground I will be spending the majority of my time working on the carbon credit project. I will update our shareholders once the PDD is complete and we start the validation process. During the validation process we will be working on the forward sale of the project.
In conclusion, this will be the first mining season where we have this amount of mining equipment in country and on or near location. This is the mining season we have been working towards where we have the quality of people, mining concession and the equipment to work them. We are expanding our agricultural operation while involving the people of Sierra Leone with the goal of being profitable with our agricultural operations in 2011. Last but not least we fill strongly in our Carbon Credit projects. The landscape has changed in the carbon market with some of the problems in Europe and lack of movement by the United States Government. This has offered some new challenges but we fill the adjustments that needed to be made have been done. I would like to thank our shareholders for there continued support and look forward to the upcoming mining season.
Be well, John
John Semachko Jr.
President
Sierra Gold Corp.
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Your profile began around the beginning of the year and you are lecturing me about this stock.
Tell you what , don't bother responding to me for a change.
Sitting quietly and patiently on the sidelines has never been beneficial to shareholders in this stock.
Management has underperformed time and time again so don't get me going if you don't want me to tell you about it.
There communications were dismal and they avoided communicating with their shareholders to avoid relating negative developments.
Just because you and other longs or newbies have been able to buy in cheap or average down doesn't mean the rest of us should be content with major losses.
I give kudos to the company when they deserve it but I am not going to sit silently and let the company continue detrimental management practices.
If I wanted to, I could be a lot more dissident and post a pretty good history easily verifying all of my concerns and poor management practices.
They have had positive developments but do not know how to build on them which has primarily sent the stock to the basement.
Having to wait till next Aug for another report would just prove mine but I guarantee I won't be that patient.
If they restore shareholder value I will support them. If they refuse to and keep shareholders in the dark, I will call them to task.
If you keep at it I will ensure everyone hears the reasons for my discontent and the real concerns and risks this company produces.
The company has a lot of potential if they would learn how to build value for their shareholders.
They are idiots if they think investors can not spot poor performance and practices. Even sillier if they expect investors to be quiet about them.
The only ones that can curb my concerns is management and they are the ones that have created the problems in the first place.
Take a look at a two year chart and make some excuses for the company if you like.
If you don't want to hear dissension do not provoke it.
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First of all I never trashed newbies so don't accuse me of it. Secondly you're not listening.
It is managements responsibility to communicate with their shareholders through current developments good or bad.
Its managements job to promote the company and to build shareholder value.
Its not up to shareholders to look for inside tips and Updates that were not publicly released.
I don't have to pick up the phone.
You might not like to hear the anti stuff but it is all true.
Even longs in the green know the company missed a key opportunity to build value on momentum after the March extractions were reported.
If this company continues to drive down my investment you are going to here a lot more anti stuff that not only is true, it will be easily verifiable.
Hard to post good stuff if the company refuses to share it but I have no problem standing by anything I have ever posted here.
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I am still busy but am going to have to pick up the phone eventually.
I still believe it is managements responsibility to keep its shareholders up to date though not vice versa.
I do know that if the company refuses to show extraction results through the summer we will be lucky to hold current levels.
It will take momentum to build and that can only come from positive developments and communication.
I think we will have lots of time before we can regain lost momentum.
I have been wondering whats up with that for a very long time lol.
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Incidentally please don't yield to anyone as mroe experienced Traders.
Your opinion is just as important as anyone elses.
Much of my concerns has been borne out of frustration, setbacks, silence, delays, poor promotion and the failure of management to do what they said they would.
One day they may actually get their act together and build shareholder value yet but its time they got the job done, not us.
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Phresh it is not that it is a bad idea and I know your concern and interest is noble it is just I am getting tired of making excuses for the companies own substandard practices.
I have made my own excuses for them as I waited and waited for Updates on key and Promoted Developments.
It is the companies job to communicate and they have always been dismal at it but refuse to learn or change.
This company would have so much more potential if management actually learned how to build shareholder value.
Every gain they have made and every momentum spike they could have built on has been lost against poor practices and communications.
One only has to look back since Mar on a good chart to see the momentum that was built in expectation of equipment placement and extraction results this past dry season.
Instead management sat on it, refused to report those extractions as even they had every year and actually stalled in the release of that key info.
If management had shown increasing extractions through the dry season then it is very likely that some of the dilution reported on the last quarterly Report and the next to come would never had to happen.
Poor management practices drive down the price which increases the amount of dilution required to raise a set amount of Capital.
I support your efforts and would be happy for you to be the one for the job but IMHO thats Johns job and he is falling down on the job.
I also know that poor communications was one of his key area of concerns when first getting involved in the company and in his current role.
He knows how bad communications were but actually took steps to make them worse IMHO.
I think management has kept shareholders in the dark for so long they simply believe its their right to do so.
Even Pink Sheet investors are going to recognize substandard management practices over time.
The company once again has some positive developments underway that they need to build upon, not try to hide and avoid.
If management was actually concerned with shareholder value at long last they would release monthly extraction amounts and especially into the rainy season to show significant progress there.
They fell short in the dry season but could make up a lot of lost ground by showing significant extractions going into the rainy season.
I have seen shareholders have to band together, achieve legal representation for their interests a number of times with the Pinks and it seldom works in their interest.
I know you are only talking about a communications Rep which wouldn't necessarily be a bad idea. It just takes that responsibility away from management who should be responsible for it in the first place.
On the other hand an open and honest management core clearly looking to build value for their shareholders and keep its shareholders in the loop so to speak is a key Asset every Pink Sheet investor would envy.
I haven't given up on management but I have seen them make the same mistake time after time.
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