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SIRG - Good News - just got off the phone with Rod and MARCUM is handling the SAS Review and the E should be gone by Thurs, Friday at the latest.
My SIRG L2 sucks but shows 55,000 shares left at .012.
Can anyone post a L2?
A mining school degree is as good as gold
Recent graduates of the South Dakota School of Mines & Technology are earning more than their Harvard counterparts.
Bloomberg News
September 18, 2012
Harvard University's graduates are earning less than those from the South Dakota School of Mines & Technology after a decade-long commodity bull market created a shortage of mining workers.
Those leaving the college of 2,300 students this year got paid a median salary of $56,700, according to PayScale Inc., which tracks employee compensation data from surveys. Median salary for those graduating from Harvard, where tuition fees are almost four times higher, was $54,100.
Those scheduled to leave the campus in Rapid City, S.D., in May are already getting offers, at a time when about 1 in 10 recent U.S. college graduates is out of work.
"It doesn't seem to be too hard to get a job in mining," said Jaymie Trask, a 22-year-old chemical-engineering major who was offered a post paying more than $60,000 a year at Freeport-McMoRan Copper & Gold Inc. "If you work hard in school for four or five years, you're pretty much set."
A fourfold gain in commodities in the last decade reflects both surging demand and the industry's failure to keep up. Although new mineral deposits are getting harder to find, companies also are struggling to add enough skilled workers. That's partly a legacy of U.S. colleges cutting back on mining programs. There were fewer than 28,000 people employed in U.S. metals mining in 2004, down from 58,000 in 1993, the National Mining Assn. estimates. By 2011, it had rebounded to 40,000.
As many as 78,000 additional U.S. workers will be needed by 2019 to replace retirees, the Society of Mining, Metallurgy & Exploration said in a report in January. In Australia, the largest shipper of coal and iron ore, there will be a shortfall of 1,700 mine engineers, 3,000 geoscientists and 36,000 other workers in the five years ending in 2015, the report said.
Demand for mining-school graduates is exceptional in the U.S., where the unemployment rate for people ages 20 to 24 with bachelor's degrees was 11.8% in July. The jobless rate across the economy held above 8% for a 43rd consecutive month in August, government data show.
Universities trimmed courses in earth sciences, mineral geology and mine engineering when the industry contracted in the 1980s and 1990s, said Diana Stewart, the marketing director at jobs4mining.com in Hampshire, England, a message board that links recruiters and prospective workers worldwide. Shortages in mine engineering and project management are acute, she said.
"There are simply not enough to go around, so companies are trying to tempt people to their own projects, which is driving tremendous salary inflation," Stewart said. "When investment finance is tight, skilled labor availability and labor costs are one of the factors that are having an impact on the viability of a project."
http://www.latimes.com/business/la-fi-mining-grads-20120918,0,5015161.story
GDSM is another one that meets all the requirements for suspension or should be halted.
Does anyone know if there is a time limit for the Attorney Letter with Respect to Current Information to be filed after the quarterly on pinks. GDSM filed on Aug 31st and still no attorney letter.
Here is just one problem showing a share discrepancy.
Quarterly Disclosure Statement March 31, 2012
Gold Coast Mining worked diligently to bring its financial filings and disclosures current on Pink Sheets. The Company has filed all delinquent reports and returned to CURRENT INFORMATION status on the Pink Sheet Tier system. In the last quarter, a total of 135mm new shares were issued to eliminate debt and share issuance obligations, as well as to secure capital for legal, accounting, Pink Sheet Subscription fees and other necessary expenses to bring the Company’s filings current.
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=83293
--------------------------------------------
Quarterly Disclosure Statement June 30, 2012
Gold Coast Mining worked diligently to bring its financial filings and disclosures current on Pink Sheets. The Company has filed all delinquent reports and returned to CURRENT INFORMATION status on the Pink Sheet Tier system. A total of 125mm new shares were issued to eliminate debt and share issuance obligations, as well as to secure capital for legal, accounting, Pink Sheet Subscription fees and other necessary expenses to bring the Company’s filings current.
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=89815 P.9.
Good morning sch,
SIRG is in good hands with CDM Smith handling their APP permit transfer but I read that ADEQ is understaffed due to budget cuts.
That certainly does not help speed up the process.
Permits
The Water Quality Division processes thousands of water and wastewater permits and plans every year in accordance with three core programs - the Safe Drinking Water Act, the Clean Water Act, and Aquifer Protection Permits.
ADEQ uses water quality permits to safeguard Arizona's waters that are affected by pollutants that come from an identifiable source. These permits protect groundwater and surface water quality by controlling discharges from domestic wastewater treatment plants, mining operations, industrial facilities, on-site sewage disposal systems, direct reuse of reclaimed water and stormwater discharges associated with industrial activity as well as discharges to drywells.
The Groundwater Section issues individual Aquifer Protection Permits (APP) and Reclaimed Water Permits. The section also authorizes discharges under general permits and registers drywells. The Surface Water Section is responsible for issuing individual and general Arizona Pollutant Discharge Elimination System Permits (AZPDES) permits and certifies the issuance of federal permits.
Sargold Resource Corporation, same officers, different company!
http://infoventure.tsx.com/TSXVenture/TSXVentureHttpController?GetPage=CompanySummary&PO_ID=1008398
A Sardinian gold mine unearths the deceptive business tactics of Rosemont Copper’s top executives
Augusta Resource Corporation is seeking government approvals to construct a massive open-pit copper mine and dump waste rock and mine tailings on more than 3,000 acres of the Coronado National Forest in the Santa Rita Mountains 35 miles south of Tucson.
The mine would be operated through Augusta’s wholly-owned subsidiary, Rosemont Copper Company.
Augusta, a Vancouver, British Columbia speculative mining company, has never operated a mine and has a very limited business history.
Five of the eight current members of Augusta’s board of directors, however, do a have mining history.
Between 2003 and 2007, these executives were on the board of directors of Sargold Resource Corporation. Sargold owned and operated an open-pit gold mine near the small farming village of Furtei in south-central Sardinia.
InvestigativeMEDIA reviewed Sargold’s publicly available business records and traveled to Sardinia and Vancouver to conduct interviews. The reporting lead to the video documentary “Cyanide Beach”.
InvestigativeMEDIA also prepared the following report on Sargold’s business history that includes a detailed analysis at the end of the historical narrative.
InvestigativeMEDIA offered to meet Augusta officials in Vancouver, but Augusta declined interview requests with the five current Augusta board members to discuss their actions as Sargold directors.
The history and analysis is annotated with links to Sargold’s press releases, regulatory disclosures, court records, Canadian mining claim reports, news articles and scientific studies on the unfolding environmental disaster left behind after the Sardinian gold mine was abandoned.
Sargold’s Sardinian Play
Sargold Resource Corporation (previously 3423786 Canada Inc., 5/1998; Augusta Corp., 7/1998; Canley Developments, 8/2001; Sargold, 7/2003) operated an unprofitable gold mine and held exploration rights for two gold mining claims in Sardinia, Italy between 2003 and 2007.
Sargold’s Board of Directors included five of the eight current directors of Augusta and one former Augusta board member.
Richard Warke
The common Sargold and Augusta directors include: Augusta Chairman Richard Warke, Augusta President and CEO Gil Clausen, and directors Donald B. Clark, Robert P. Wares, Christopher M. H. Jennings. Former Augusta director Michael A. Steeves also served on the Sargold board.
Sargold’s history provides the only example of how the majority of Augusta’s current board managed an active mining company in the immediate past.
Sargold’s corporate records and interviews with key officials in Canada and Italy familiar with Sargold’s operations reveals a troubling history that includes:
* Failure to provide accurate and timely information to shareholders.
* Failure to pay vendors.
* Misspending a Sardinian government loan.
* Evidence of a self-enrichment scheme to benefit its chairman.
* Evidence of insiders receiving excessive discounts on stock purchases.
* Issuing misleading press releases.
* Not disclosing in proxy statements that a Cayman Islands investment fund controlled more than 10 percent of the company between 2005 and 2007.
* Contributing to an ongoing environmental disaster in Sardinia.
Sargold’s Sardinian investment
Sargold’s primary asset was its Italian subsidiary, Sardinia Gold Mining, SPA (SGM).
In March 2003, Sargold, then known as Canley Developments, entered the Italian gold mining business through a joint venture with Australian-based Gold Mines of Sardinia. Gold Mines of Sardinia held a 90 percent interest in Sardinia Gold Mining, SPA.
In June 2003, Sargold signed a purchase agreement to buy 50 percent of GMS to take a 45 percent interest in Sardinia Gold Mining.
In early 2004, Sargold issued two press releases concerning Sardinia Gold Mining’s primary asset, the Furtei Gold Mine. The first release touted “significant increases in gold grade”; and the second announced discovery of a “substantially larger resource than was originally estimated”.
Donald Clark
In June 2004, Sargold announced plans to purchase the remaining 45 percent interest from the Australian company to up its stake in Sardinia Gold Mining to 90 percent. Progemisa, an Italian government mining research organization, owned the remaining 10 percent.
A month later, in July 2004, Sargold issued a press release hailing its drill exploration program that had discovered the “highest gold grades” to date at the Furtei mine.
Sargold closed the purchase in September 2004 and assumed control of Sardinia Gold Mining’s assets, including the Furtei open pit gold mine and exploration rights near the historic Sardinian town of Osilo.
Enter the hedge fund
In October 2004, RAB Special Situations, a Cayman Islands hedge fund, purchased 4 million units of Sargold in a private placement to take a 26 percent stake in the company. RAB Special Situations made additional major purchases through private placements in 2006 and 2007. Sargold did not repor RAB’s 10 percent or more share of the company’s stock in its annual proxy statements between 2005 and 2007.
In November 2004, Sargold issued another optimistic press release describing its “in-ground gold resources, hundreds of square kilometers of prime gold exploration ground, a permitted production facility and over ten years of detailed geological information.”
In early 2005, Sargold appointed Franco Cherchi president of Sardinia Gold Mining.
Robert Wares
This was a very high-profile appointment in Sardinia. Cherchi was a former president of Progemisa, the government-funded mineral resource management agency and Sargold’s minority partner in Sardinia Gold Mining. He was also involved in Sardinian regional politics and was a regional leader in the Left Democratic Party.
“Mr. Cherchi brings extensive experience in geology, administration and local politics to his new position,” Sargold noted in a Jan. 19, 2005 press release.
Furtei’s limited prospects
The Furtei gold mine, is located within a volcanic cinder cone near the small town of Furtei in Southern Sardinia.
The mine complex is also wedged into the middle of an important water and hydroelectric facility that serves southern Sardinia, including its capital, Cagliari.
The Sa Forada water/electric infrastructure includes the Sa Forada Dam and reservoir, underground pipelines, a hydro-electric power plant and a high-tension electricity power grid. The complex was constructed in the 1970s with European Union funding.
Sardinia Gold Mining began operations at the Furtei open pit mine in 1997.
Cyanide Beach
The Sa Forada Reservoir supplies drinking and irrigation water to southern Sardinia. Mining operations stripped away the earth next to the reservoir.
The Australians closed the mine in 2002 after all accessible oxide ore had been removed. About 138,000 ounces of gold were produced.
After assuming full control of Sardinia Gold Mining in 2004, Sargold refurbished the Furtei mine’s milling facilities. Between March and September 2007, Sargold produced 1,300 ounces of gold and silver from waste rock.
Sargold’s business plan was to reopen and expand the Furtei gold mine and use revenue from the sale of gold ore to finance exploration and development of additional potential underground sulfide gold resources at Furtei and explore and develop mining claims near Osilo and on Monte Ollasteddu.
Major Obstacles
Sargold’s business plan faced serious obstacles from the start. These challenges were described in detail in a November 2003 proxy statement prepared by Full Riches Investments, a company that was created to facilitate the sale of Gold Mines of Sardinia.
The issues included:
*All readily accessible oxide ore had been removed from the open pit and Sardinia Gold Mining determined in 2002 that underground mining would be unprofitable.
*The Sa Forada Dam and hydro-electric facilities restricted blasting and impinged on the possible expansion of the Furtei open pit mine and the possible development of an underground mine.
*The remaining gold ore was embedded in a type of rock formation that required expensive and untested methods to extract the gold.
*Opposition in Osilo to mining was significant and opponents had the support of key Italian government agencies.
*Access to Monte Ollasteddu was restricted because it was adjacent to an air base and required military approval.
Ignoring Reality
Sargold glossed over the fundamental challenges in its financial statements and management discussion and analysis reports submitted to Canadian securities regulators.
Instead, Sargold touted rich gold strikes from exploratory drilling and unsubstantiated claims of gold reserves in its press releases, including a 2003 release issued when Sargold, then known as Canley Developments, announced its intent to purchase 45 percent of Sardinia Gold Mines.
The March 26, 2003 press release claimed, among other misleading statements, a “600,000 ounce gold resource” at Furtei. Three months later, the Toronto Venture Stock Exchange forced the company to retract numerous statements concerning gold reserves.
The full extent of the problems facing Sargold did not become apparent to the public and investors until December 2006, when the company restated its financial statementsfor the previous three years. The restatement was issued after the company reported it failed to properly account for taxes related to the purchase of the Furtei mine and another asset.
Sargold’s December 2006 Management Discussion & Analysis provided details to the public and investors about the company’s failure to pay contractors on time, misspending a government loan and the serious obstacles to conducting exploration at Osilo and Mounte Ollasteddu.
By December 2006, Sargold owed more than $1.5 million to its suppliers and contractors, with 85 percent of the payables more than six-months past due. Vendors filed law suits in local Sardinian courts and won judgments.
The December management report also revealed Sargold misspent a Sardinia Regional Financial Institute loan that was intended to develop an underground mine. Sargold spent the money on other operations and the Sardinian government demanded repayment of $787,000.
Withholding key information
At the same time the company’s financial condition was steadily deteriorating, Sargold withheld key information from shareholders.
Gil Clausen
For nearly three years, the company did not publicly identify in its annual proxy statements to shareholders that RAB Special Situations, the Cayman Islands hedge fund, controlled more than 10 percent of the company’s stock. Canadian disclosure laws require companies to disclose the identity of an investor that controls more than 10 percent of the outstanding shares. (See Analysis, Chapter V, below)
Although Sargold insiders, including several board members, participated in the private placements with RAB Special Situations in 2006 and 2007, Sargold did not disclose RAB Special Situation’s major investment in Sargold’s annual proxy statements in 2005, 2006 and 2007.
RAB’s dominate position in the company was not reported in Sargold proxy statements until days before an October 2007 merger with Buffalo Gold Ltd.
Lodestone — an example of self-enrichment
Four years earlier, Sargold entered into an unusual agreement with its chairman, Richard Warke.
In March 2003, Sargold (then known as Canley Developments) purchased four mining claims owned by a company controlled by Warke. Sargold purchased Warke’s company for $688,000 in cash and stock to assume control of the four iron ore mining claims. Warke had acquired the mining claims from his late father’s estate.
Four years later, and after reportedly spending $175,000 on a drilling exploration program, Sargold declared the iron ore project was worthless and wrote off $1.2 million.
In the fall of 2007, Sargold reported in regulatory filings that the Lodestone iron ore claims had been sold to an unidentified buyer for $1.
Canadian mining claim records, however, reveal that Sargold sold the claims back to the Warke-controlled company in October 2007.
And, rather than the claims being worthless, Warke’s company immediately spent $10,000 to keep the claims in good standing with Canadian mining regulators.
The $10,000 investment was made at the same time Sargold approved the sale of the mining claims for $1.
Warke’s company continues to control the claims and has spent $50,000 over the last five years to maintain the claims in good standing with Canadian mining regulators. (See Analysis, Chapter III, below.)
Sargold’s failure to disclose Warke’s personal bankruptcy
In the mid 1990s, Warke was facing personal financial ruin. He was repeatedly sued by various financial institutions and in September 1998 he filed a bankruptcy proposal. The bankruptcy case dragged on for more than four years, with Warke defaulting on the settlement terms in October 2002. Warke settled the case in November 2002.
Christopher Jennings
Sargold does not reveal Warke’s personal bankruptcy proceeding in its proxy statements and annual reports as required by Canadian disclosure regulations until the May 2006 proxy.
Warke’s bankruptcy filing came 9 years after he signed a settlement agreement with the British Columbia Securities Commission on an insider trading violation. Warke agreed to settle allegations he filed knowingly false insider trading statements and paid a $500 fine.
Blue sky
At the same time Sargold was failing to disclose required information to regulators, Sargold continued to issue optimistic press releases over its Sardinian gold mining prospects, despite mounting financial problems that forced Sargold executives to make personal loans to the company in late 2006 and early 2007.
In a March 28, 2007 press release, Sargold reported “significant breakthroughs” in developing a new process to extract gold from rock formations that had limited Furtei gold production in the past.
On May 14, 2007, Sargold announced a huge increase in planned gold production. The press release claimed Sargold would produce between 10,000 and 15,000 ounces of gold within the next 12 months before ramping up to 60,000 to 70,000 ounces the second year and leveling off to 50,000 ounces a year for five years.
Read more:
http://www.investigativemedia.com/sargolds-sardinian-gold-mine-provides-window-into-how-augusta-resources-top-executives-conduct-business/
Just returned from seeing the movie "Cyanide Beach" and Augusta should NEVER be allowed to dig a hole for an outhouse!
Green Valley News editor Dan Shearer devotes his Sunday column to InvestigativeMEDIA’s documentary “Cyanide Beach” and states: “This documentary…does raise questions that Rosemont must address if it intends to move forward with integrity.”
“Cyanide Beach” will have two screenings on Monday, Sept. 17. The 24-minute documentary will be shown at 10 a.m. at the Tubac Community Center and at 6:30 p.m. at the Quail Creek Crystal Ballroom. The film will also be shown at 7 p.m., Sept. 29 in Patagonia at the Tin Shed. More screenings are being scheduled. Please see “events” for more information.
“Cyanide Beach” played to a packed house Sept. 5 and 6 at the Desert Sky Cinema in Sahuarita. More than 800 people have seen the documentary at two screenings in Tucson and two in Sahuarita.
(There were about 200 people at the screening tonight.)
Report: A Sardinian gold mine unearths the deceptive business tactics of Rosemont Copper’s top executives. (Click Here)
Timeline: The top officers of Rosemont Copper’s parent company, Augusta Resource Corporation, have a history of bankruptcies, cease trade orders and stock exchange delistings (Click Here)
“Cyanide Beach”: The 23-minute video documentary “Cyanide Beach” tells an important and timely story that anyone interested in the Rosemont copper mine project needs to know. (Click Here)
The multimedia project focuses on Augusta Resource Corporation, a Vancouver, British Columbia-based speculative mining company that wants to build a massive open pit copper mine in the environmentally-sensitive Santa Rita Mountains on the Coronado National Forest 35 miles south of Tucson, AZ.
InvestigativeMEDIA reviewed thousands of pages of financial documents and conducted interviews in the United States, Canada and Italy to document the business history of Augusta’s key executives.
The probe uncovered a tangled history of cease trade orders, an insider trading settlement agreement, stock exchange delistings, personal and corporate bankruptcies, false disclosure statements to regulators and an abandoned Sardinian gold mine that is creating serious, ongoing environmental problems.
Sardinia needs $20,000,000 to clean up the cyanide lake left behind along with the rusted equipment, a total mess.
Las Cienegas National Conservation Area
Augusta owns the Rosemont Copper Company. Rosemont is seeking government permits to build what could become one of the largest copper mines in the United States, producing 240 million pounds of copper annually for approximately 21 years.
The mile-wide, half-mile deep mine would dump waste rock and mine tailings on more than 3,000 acres of the Coronado National Forest and destroy much of a watershed that provides runoff to a rare, shallow Sonoran Desert aquifer beneath the federally-protected Las Cienegas National Conservation Area.
http://www.investigativemedia.com/special-reports-rosemonts-power-play/?doing_wp_cron=1347938331.5964341163635253906250
SIRG will be processing the ore using their SX/EW plant which is far more efficient that the way copper was produced years ago.
This article in today's Arizona Starnet newspaper about the Magma mine, was published on Dec. 30, 1955. the Magma mine was the largest copper mine in the world. It was closed in 1999 due to the low price of copper and the mine was about played out.
One of the world's largest deposits of copper ore, behind the Santa Catalina Mountains, north of Tucson, is the basis for what may become the biggest underground copper mine in the world.
The ore body, controlled now by the San Manuel Copper Corp., was discovered in 1870, but the ore was too low grade to be mined profitably with the processes and price of copper at that time.
President Wesley P. Goss says that San Manuel, at its expected peak capacity of 35,000 tons a day, would "probably" be the world's largest underground copper operation - in tonnage. He believes that a large Kennecott mine in Chile produces more actual copper, because of higher grade ore.
The San Manuel plant - erected in record time for a facility of its size - also has two unique features in its smelter: (1) air is pre-heated to 700 degrees before entering the 105-foot-long reverberatory furnace, and (2) the furnace arch (or roof) is made of suspended basic brick - each tile hung on a separate hook. It allows repairs without complete furnace shutdown.
Mining men from across the U.S. have visited and studied the San Manuel plant. A simplified explanation of the highlights of the San Manuel operation - following the ore from mining to smeltering - includes these steps:
The ore is mined by the block caving method. A number of large (210 by 270 feet) blocks of ore are worked at the same time. The ore tumbles down into ore cars and is hauled to Shaft 3B. There are 11 miles of regular railroad tracks at the current 1,475-foot level, and 5 more miles underneath (the next step down when present level is exhausted).
A rotary dump takes three ore cars at a times and spins them upside down, the ore falling into a pit where it is lifted above the ground by giant "skips" (hoists) that carry 18 tons a trip at 3,000 feet a minute. The ore is dumped into 5,000-ton bins by the "skips," then is dropped into heavier ore cars for the seven-mile railway trip to the mill.
The ore - in chunks less than 10 inches big as it leaves the mine - gets a real reducing treatment at the mill.
Traveling from now on mainly by conveyor belts, the ore is reduced to 3-inch size at the crushing mill, then 3/4-inch size by other crushers, before it gets to the elaborate concentrator (an 800-foot-long structure). Rod mills and ball mills grind the ore - now mixed with water and lime - to less than 1/65th of an inch. It travels to "rougher" flotation cells, where reagents are added, then perhaps to a re-grind step, and then to two more steps of flotation.
A thickener removes much of the moisture, then the ore will visit the molydenum plant (which is expected to begin operations sometime in January). The copper concentrate is sent on to the driers - and is now 28 percent copper.
All during the process, efforts are made to reclaim as much water as possible. Water pumped from the mine at about 2,000 gallons a minute is stored in two tanks holding a million gallons each. When the plant is at full capacity, 4,500 gallons of "fresh" water a minute will be required, plus 12,000 gallons reclaimed from the various processes.
The copper concentrate will be conveyed into the smelter, along with flux (the firm has its own lime and flux operations). The concentrate and flux, called a "charge," is banked along each side wall of the reverberatory furnace - which is heated to 2,700 degrees Fahrenheit. The charge melts and fills the bottom of the furnace, separating into a layer of slag on top and matte (iron, copper and sulphur) on the bottom.
Both are tapped off. The slag is discarded. The matte goes into a ladle holding 30 tons, and a converter. Air bubbled through removes the sulphur, and the silica is added to form a slag with the iron. The molten copper is transferred to an anode furnace, where preliminary refining is done by "poling." A log or pole is submerged in the molten copper and burns at the expense of the oxygen that has combined with the copper.
When pure enough, the copper is ready to be cast in the shape of anodes - 700-pound flat copper castings. A "merry-go-round" type casting wheel, with spaces for 22 anodes, is used. An anode is poured, then cools with the aid of water as it moves around and other anodes are cast.
Final step is loading the anodes on railroad cars for a trip to the Phelps Dodge refinery at El Paso for final refining. But a great deal of the refining has been done at San Manuel.
"I believe we'll come out with copper that's 99.3 per cent pure," says Frank H. Buchella, plant manager and director of engineering.
Today the site has been reclaimed and restored.
'54 Copper leaders
Based on the 1954 figures for copper production, Magma Copper Corp.'s potential output of its San Manuel Mine would leapfrog the company from fifth place in state rankings to second.
Phelps Dodge was the leader in 1954, with 216,000 tons. Other firms are listed like this:
• Kennecott - 40,259 tons.
• Inspiration - 34,096 tons.
• Miami - 28,727 tons.
• Silverbell - 13,350 tons (estimated)
• Bagdad - 8,923 tons.
Sadly SIRG remains under the radar since no momo gang has arrived to pump it up. But SIRG has climbed to penny land all on its own merits and its day will come.
Voters may soon have even more reason to ask Barack Obama why his policies have aided the Muslim Brotherhood.
An organization called Let Freedom Ring is working to buy air time for a new commercial highlighting both the Brotherhood’s radical agenda and Obama’s support for the terror-tied organization.
The advertisement claims the Muslim Brotherhood seeks to conquer Israel, renew ties with Iran – a country “building nuclear weapons to slaughter the Israeli people” – and even collapse the United States from within. Is that the kind of group America’s president should be helping?
Citing a Politico news report, the ad asks, “President Obama, you invited the Muslim Brotherhood to the White House? Legitimizing a group that wants to undermine America and destroy Israel?”
Citing a CBS News report from March, the ad asks, “You sent them 1.5 billion of our dollars? Why, Mr. President? Why?”
The Muslim Brotherhood has gained strength throughout the Mideast, thanks to the power void left by the “Arab Spring” populist uprisings, which have overthrown dictators in several nations, including Egypt and Libya, only to fill new government posts with Brotherhood members.
Obama has been a public supporter of the uprisings, even providing direct assistance, including weapons and finances, to the Libyan rebels.
But only this past week, including in Egypt and Libya, radical Muslim elements have turned the Arab Spring nations into a hotbed for anti-American sentiment, including the violent and fatal storming of American embassies across the region.
Let Freedom Ring is launching its “Why, Mr. President, Why?” campaign, hoping to raise funds to air the commercial in pivotal states leading up to the 2012 election.
Earlier this month, Let Freedom Ring announced a $7-million online advertising campaign claiming the Obama administration terminated the pensions of nonunion workers at Delphi auto parts plants while bailing out union workers’ pensions as part of the 2009 General Motors reorganization.
Let Freedom Ring is a non-profit, nonpartisan public policy membership organization that promotes constitutional government, economic freedom and traditional values.
http://www.wnd.com/2012/09/ad-asks-obama-to-explain-muslim-connection/
Thanks, having a busy morning and forgot.
MMs continue to play their games. A SIRG trade for 87,100 shares just filled at .0124 and the dropped the ASK down to .012!
The MMs opened SIRG this morning on a walk down by lowering the ASK but SIRG is crawling back up nicely.
Some very active pinks got SEC suspensions today.
AER ENERGY RESOURCES, INC.
ALTO GROUP HOLDINGS, INC.
BIZROCKET.COM INC.
FOX PETROLEUM, INC.
GEOPULSE EXPLORATIONS INC.
GLOBAL TECHNOLOGIES GROUP INC.
KMA GLOBAL SOLUTIONS
INTERNATIONAL, INC.
MIKE THE PIKE PRODUCTIONS INC.
MOBILE STAR CORP.
SAVWATT USA INC.
SCORPEX INC.
SILVER DRAGON RESOURCES INC
STRATEGIC MINING CORP.
SURGLINE INTERNATIONAL INC.
THRIVE WORLD WIDE INC.
ZAMAGE DIGITAL ART IMAGING INC.
http://www.otcmarkets.com/marketActivity/suspended-symbols
Mon Sep 17, 2012 8:02am EDT
* Aquarius, Xstrata reopen mines near Rustenburg
* All Lonmin mines remain closed; pay talks resume
* Amplats says Rustenburg ops to resume on Tuesday
* One workers' head says that will be resisted
By Agnieszka Flak
JOHANNESBURG, Sept 17 (Reuters) - Two South African mines reopened on Monday after labour strife forced them to suspend operations last week, but striking miners vowed to keep operations run by world No. 1 platinum producer Anglo American Platinum (Amplats) shut.
Wage talks were set to resume in a bid to end a violent 5-week strike that has killed 45 people around the Marikana mine of platinum producer Lonmin, bringing its production to a halt and pushing up the price of the precious white metal.
The unrest has its roots in a bloody turf war for members between an upstart union and the dominant National Union of Mineworkers (NUM) but it is now unclear who the strikers are taking their direction from.
Police used tear gas and rubber bullets over the weekend as part of an operation to disarm miners, implementing the government's decision to get tough on strikes that choked off platinum output in the world's top producer. The army has also been brought in to help restore order.
Aquarius Platinum's Kroondal mine and Xstrata's chrome operation near the platinum belt city of Rustenburg restarted on Monday. Aquarius' shares in Johannesburg were up more than 12 percent by 1200 GMT.
Amplats said work at its Rustenburg mines would resume on Tuesday, a move dismissed by one workers' representative as a "joke". The unrest and illegal strikes have spread from Marikana to Rustenburg along the restive platinum belt.
"For us, the reality is that the general strike is on," Mametlwe Sebei, a self-styled Rustenburg community leader and Marxist politician, told Reuters. "We are going to be demonstrating in defiance. We will not be intimidated."
Amplats management was "whistling in the dark" if it believed the mines would reopen on Tuesday, he said.
"They can deploy the army, they can be shooting people, shooting old men in their shacks, tear gassing young kids ... but let us be clear, there will be repercussions," he said.
A spokesman for Xstrata Alloys said miners returning to work in Rustenburg on Monday had been subjected to intimidation by striking colleagues and that the atmosphere remained tense.
"As our employees were coming to work, there has been intimidation which is all over Rustenburg," said Christopher Tsatsawane said.
WILDCAT STRIKES
Xstrata and other platinum mines in the area have been hit by wildcat strikes since police killed 34 miners at Lonmin's Marikana platinum mine on Aug. 16. All of Lonmin's mines remain closed.
South Africa is home to 80 percent of known reserves of platinum, the price of which has gained nearly 20 percent since the Marikana shootings, the bloodiest security incident since the end of apartheid in 1994. The sector accounts for 6 percent of South Africa's economy, the biggest in Africa.
Police raided a Lonmin hostel on Saturday and seized spears, machetes and other weapons from strikers. They later used rubber bullets and tear gas to disperse groups of protesters.
Lonmin said mining activity at Marikana remained minimal and lowered its full-year production guidance to between 685,000 and 700,000 saleable ounces from 750,000 ounces.
Lonmin said on Monday it was temporarily closing its K4 shaft. That ends a contract with construction group Murray & Roberts that supplied about 1,200 staff to that shaft.
On Friday, workers at the mine dismissed an initial Lonmin offer as way below the 12,500 rand ($1,500) a month sought by members of the militant Association of Mineworkers and Construction Union (AMCU), which is challenging the influence of the more established NUM.
Lonmin, which is offering increases of between 9 and 21 percent, said 12,500 rand would put thousands of jobs at risk and challenge the viability of the business.
The ruling African National Congress has become increasingly worried about the impact of the unrest on the wider economy.
Finance Minister Pravin Gordhan said it could be "extremely damaging", although in an interview with Reuters on Sunday he said there was no need yet to revise the outlook for the country's fiscal performance for this year.
The ANC criticised companies for paying lip service to the mining charter, which seeks to give workers and communities a bigger share of mineral wealth and rectify disparities of white apartheid rule by improving their living and working conditions.
"Mining remains the bedrock of the South African economy, and yet the abject poverty and squalor surrounding mining areas remains a matter of deep concern," it said in a statement.
"The current instability at Marikana thus poses challenges to the growth of the sector and the international image of the country," the ANC said.
http://www.reuters.com/article/2012/09/17/safrica-mines-idUSL5E8KH6SS20120917?type=marketsNews
SIRG looking great. First we have to take care of ETRF at .02. Huge gaps on the ASK.
Those SIRG .0120s are gone and ASK is .0125
ANOTHER ARIZONA GOLD MINING SCAM EXPOSED
Shareholders are being deceived.
by 1manband
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79611208
The "piece of the action" isn't part of the mine, since the mine is worthless. Instead, it is 8 million GDSM Series E convertible preferred repurchased for $50K from WSRA. When repurchased, the preferreds had a 1 for 1 exchange ratio. After that poster purchased them, GDSM secretly changed the conversion ratio to 15 to 1, thus not only increasing the value by 1500%, but increasing the number of free trading shares they can be immediately converted to (and sold into the float) from 8 million to 120 million. That 120 million new shares can be sold right now! And shareholders are none the wiser, as the Company intentionally withheld that information from shareholders. That 50K purchase a month ago is now worth, at current trading prices, 336-400K. All at the expense of the current shareholders and done by management to screw the common shareholders!
On top of all of that, that poster (and perhaps others, as the original agreement referred to a "group of investors", not just one) can buy the other 32 million Series E preferred for $350K which now converts into an additional 480 million shares (so much for management claiming "no dilution"!), which has a current conversion value of $1.3 million or more. Again, all at the expense of the common shareholder without their knowledge.
There are now 3 professional I-HUB pumpers on the GDSM board.
Really, when dumping is occurring the share price does NOT rise by 25%.
SIRG up 25% on a Friday is always great and this shows the demand for shares is rising.
GDSM is now being pumped on the I-HUB board by Professional pumpers. They are desperate since their scam has been exposed.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79611208
WHITE HOUSE MUST STOP SONY FROM RELEASING 'KILLING BIN LADEN' FILM
Now that the White House and State Department have made clear that they believe movies compel terrorists to terrorize, it's time for them to get ahead of this problem. And one thing the White House can do immediately is to pressure Sony to stop the release of director Kathryn Bigelow's "Zero Dark Thirty," which celebrates the killing of Osama bin Laden.
I'm only saying this because, you know, the White House and the media told me movies inflame and cause terrorism.
Think about it: if the poorly produced and laughably bad trailer for "The Innocence of Muslims" results in chaos, murder, and the burning of foreign outposts all throughout the Middle East, how much rioting and mayhem is a big-budgeted, slickly produced, Oscar-bait blockbuster celebrating the death of the leader of al-Qaeda going to cause?
Moreover, an excuse Secretary of State Hillary Clinton will not be able to use in the case of "Zero Dark Thirty" (as she did with "Innocence of Muslims") is the cowardly and self-righteous claim that the federal government and the Obama White House had nothing to do with "Zero Dark Thirty."
Because the federal government and the Obama White House had everything to do with "Zero Dark Thirty."
As we now know, in an effort to get this glitzy in-kind contribution (tens of millions of dollars) up on the screen in time to affect the election, it was the Obama Administration that gave the filmmakers tons of encouragement and a troubling amount of access to all kinds of classified material.
But this very same Obama Administration has since learned that it wasn't the Obama Doctrine of disengaging with the Middle East and embracing the Muslim Brotherhood that caused all this mayhem and murder last week. It was a movie.
This means that the only responsible thing for the Obama Administration to do is to get proactive and, in the interest of national security and to help ensure the safety of Americans overseas, put as much pressure as they can on Sony to stop the distribution of "Zero Dark Thirty."
After all, this is what the Administration did to YouTube to stop the distribution of "The Innocence of Muslims."
And I'm certain no one in Hollywood would be alarmed if the government were to pressure Sony not to release its film. Why would they if they won't stand up for the "Innocence of Muslims" filmmaker being persecuted by our government and media overlords today?
You know, because movies create terrorism.
Follow John Nolte on Twitter @NolteNC
FLTT Business License EXPIRED!!
What is up with this?
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=F7rc7JLiiwH7XbjmKa%252fMvQ%253d%253d&nt7=0
Then-Senator Barack Obama makes the case for an Obama Presidency on November 21, 2007 by saying he is uniquely qualified to bring stability to America’s relationships in the Muslim world because he lived in an Islamic country during his youth and his half-sister is Muslim
Video here:
http://visiontoamerica.com/12209/obama-flashback-the-day-im-inaugurated-muslim-hostility-will-cease/
Good morning Chris,
I like your vision but I feel it will take the APP approval to get over .02 and then funding details should take SIRG to .03. SIRG is getting lots of love lately.
In September 2009, WND reported Obama repeated in an address televised to the nation’s schoolchildren the story he first told in his autobiography, “Dreams from My Father,” indicating the family was together until his father left for Harvard in June 1962.
“I get it. I know what it’s like,” Obama said in the televised speech. “My father left my family when I was 2 years old, and I was raised by a single mom who had to work and who struggled at times to pay the bills and wasn’t always able to give us the things that other kids had.”
In the autobiography, Obama related a story his mother allegedly told him: “When your father graduated from UH (University of Hawaii), he received two scholarship offers. One was to the New School, here in New York. The other one was to Harvard. The New School agreed to pay for everything – room and board, a job on campus, enough to support all three of us. Harvard just agreed to pay tuition. But Barack was such a stubborn bastard, he had to go to Harvard. How could I refuse the best education? He told me. That’s all he could think about, proving that he was the best.”
But as WND reported in August 2009, Ann Dunham never shared a common address with Barack Obama Sr., either before or after the baby was born. The address published in the birth announcements for Barack Obama Jr. in two local Honolulu newspapers, as WND also reported, was the address of the grandparents.
See video of Obama’s statement yesterday about his birth:
Agree on that one - Madison is loaded with libtards!
Just a Madoff copycat! People are so gullible and trusting they are easy marks.
1manband and I just put together the scam on pinkie GDSM.
On Wed. I was looking at the Florida SOS to see who was on the GDSM BOD. Marc Lovito & Michelle are the only 2 directors so Marc can do whatever he wants.
According to the attorney letter, Michele Driscoll-Hinton, lives at 6910 NW 28th Street, Margate, Florida 33063.
This is also the home of Marc & Josephine Lovito. Why would Michelle be living in their home??
https://www.broward.county-taxes.com/public/real_estate/parcels/484123-08-0350/bills/5456003
After I found the FL file I didn't understand all of it but knew it stunk so I sent 1manband a link. (My expertise is in researching mines and mining companies and not preferred shares and share structures.)
He asked about the GDSM shares that WSRA got in 2009 so I dug through the filings and found it. He put 2 and 2 together and this is the scam.
Western Sierra Mining agreed to sell 40mm Series E Preferred Convertible Stock it received in 2009 from GDSM to a group of investors for $400,000. These preferred shares were issued to WSRA in 2009 as part of the parties previous JV efforts. WSRA agreed to apply these funds, on behalf of GDSM, to the funding schedule for the GC and GS claims therefore completing the funding required for Phase I and II development.
GDSM NEVER had 50% of the JV as claimed. They only had 45%, read below.
As consideration for the sale of the preferred shares, GDSM has agreed to assign back to WSRA 5% of its JV interest in the claims. GDSM may buy back the 5% interest for $100,000.
Additionally, GDSM has agreed to issue WSRA four million shares of a new series of preferred that may be converted to common in 1 year. (These new shares will convert at 15 shares to 1.)
$400,000 divided by 8 is $50K which is what TCS paid for his 5M shares of GDSM stock that were held by WSRA. That is why his check was made out to WSRA.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79581709
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78635034
In a filing in FL on Aug 16, 2012, Marc changed the conversion rate from 1 share of Series E to 1 share of A common to 1 share of Series E to 15 shares of A common. Those 5M shares became 75,000,000 unrestricted shares so TCS can sell them any time he wants. Of course he wants the price to go up.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78635034
It is unknown who holds the rest of the Series E Convertible shares. There are not enough A/S shares to cover 600,000,000 new shares that can be sold now. A/S is currently 750M with less than 100M shares left in the treasury.
Florida filing - http://www.sunbiz.org/pdf/38776561.pdf
GDSM filing - http://www.otcmarkets.com/financialReportView...p;id=73887
After I found the Florida filing, 1manband, gitreal and I figured it out.
Plus WSRA gets those 4M new GDSM Series E shares that are restricted but convert 15 to 1 whenever Chaffee decides to cash in he will get 60,000,000 that he can sell in 11 months.
GDSM still has 40M Series E shares that Marc can take and convert in a year getting 15 to 1 or another 600,000,000 shares!
And Marc claimed NO DILUTION! There will be 1.8BILLION shares when all the Preferred Series E shares are converted!
Just another pinkie scam and the attorney is our old friend Don A. Paradiso Esq.
Lmcat
Good to see you are still alive and kicking! SIRG had a great week and you are right - those shares are costing more but still cheap when fair market value is over .03!
The float is pretty tight and people are going to be chasing the SIRG ship out of the harbor!
SEC Charges Connecticut-Based Broker with Stealing Investor Funds to Pay Mortgage and Shopping Bills
FOR IMMEDIATE RELEASE
2012-188
Washington, D.C., Sept. 13, 2012 – The Securities and Exchange Commission today charged a broker and his company based in Danbury, Conn., with stealing at least $600,000 from customers who he persuaded to withdraw money from their brokerage accounts he managed at other firms and instead invest with him directly.
The SEC alleges that Stephen B. Blankenship lured about a dozen customers – including some retirees and others he met at church – into his scheme by assuring them they could obtain a greater rate of return on their money by transferring it to his firm, Deer Hill Financial Group. Blankenship claimed he was investing their money in established securities such as publicly-traded mutual funds. But in reality he made no investments and merely transferred customer money to his own bank account, and he misused it to pay his mortgage, travel, and grocery bills among other personal expenses. Blankenship also paid some business expenses and made Ponzi-like payments to other customers who requested a return of all or part of their investment.
Additional Materials
SEC Complaint
In a parallel action, the U.S. Attorney's Office for the District of Connecticut today announced criminal charges against Blankenship.
"Blankenship took advantage of fellow churchgoers and senior citizens who relied on their savings for retirement and placed their trust in him," said David P. Bergers, Director of the SEC's Boston Regional Office. "He betrayed that trust by using their money to make personal credit card payments and home improvements."
According to the SEC's complaint filed in the U.S. District Court for the District of Connecticut, most of the investors deceived by Blankenship became his brokerage customers at Santa Monica-based Syndicated Capital and later at Melville, N.Y.-based Vanderbilt Securities. Some had been his customers for as long as two decades. Beginning in at least 2002, Blankenship took advantage of those longstanding relationships and began convincing customers to withdraw money from their brokerage accounts at those firms with promises that he could achieve a greater rate of return for them directly by investing their money through Deer Hill.
The SEC alleges that in order to conceal his scheme, Blankenship often created fake account statements that falsely represented that he had invested their money in a variety of investments. The purported account statements were printed on Deer Hill letterhead and provided to customers. In all instances, the investments described on the account statements did not exist.
The SEC's complaint alleges that Deer Hill and Blankenship violated the antifraud provisions of the federal securities laws and acted as unregistered brokers. The complaint seeks disgorgement of ill-gotten gains plus prejudgment interest, monetary penalties, and the entry of a permanent injunction against Deer Hill and Blankenship, who lives in New Fairfield, Conn.
Based on the same misconduct, the U.S. Attorney's Office for the District of Connecticut charged Blankenship with criminal violations. The Connecticut Department of Banking's Securities Division has obtained, by consent, a revocation of Blankenship's registration and has barred Blankenship and Deer Hill from operating in Connecticut. The SEC thanks the U.S. Attorney's Office for the District of Connecticut, the Connecticut Department of Banking's Securities Division, and the police department in Danbury, Conn., for their assistance in this matter.
The SEC's investigation, which is continuing, has been conducted by Kevin B. Currid, Robert B. Barry, and Michele Perillo in the Boston Regional Office with assistance from Mark Gera and Andrew Caverly of the broker-dealer examination program. Mr. Currid will lead the SEC's litigation.
# # #
http://www.sec.gov/news/press/2012/2012-188.htm
DJ BASE METALS: Comex Copper 3.8031 Extends Fed-Inspired Rally
Sep 14, 2012 By Tatyana Shumsky
--Comex December copper up 3.2% to $3.83/lb
--Copper's rally continues as investors cheer Fed's easing plans
--Weaker dollar boosts appeal of dollar-denominated copper futures
NEW YORK--Copper futures extended gains Friday, rallying more than 3% in morning trade amid elation over the Federal Reserve's plans to boost economic growth and support the labor market.
The most actively traded contract, for December delivery, was recently up 12.00 cents, or 3.2%, at $3.8300 a pound on the Comex division of the New York Mercantile Exchange.
Copper prices lunged higher after the Fed's policy setting arm announced a third bond purchasing program aimed at cutting long-term interest rates. The Federal Open Market Committee also said it expects for short-term interest rates to remain near zero until 2015, extending their outlook by a year.
"Base metals have hopped on board to ride the wave as equity and commodity markets storm ahead," traders at RBC Capital Markets said in a note to clients.
Copper's rally continued for a second day Friday, as investors had more time to assess the likely impact of monetary easing on economic growth. Copper wires and pipes are widely used in construction and manufacturing, and demand for such products tends to rise as economic activity expands.
"Overall we are sticking to our pre summer call of a strong Q4 for metal prices," RBC said.
A weaker dollar also bolstered copper's rally. The dollar retreated against the euro, with the single European currency recently trading up 1.1% at $1.3127.
As the dollar weakens, dollar-denominated copper futures become less expensive for investors who use other currencies, luring these buyers to the market.
However, analysts at Standard Bank warned that while the liquidity injection is initially a purely monetary phenomenon, copper's gains could fade over the next three to six months "if real demand conditions for these commodities do not improve."
Write to Tatyana Shumsky at tatyana.shumsky@dowjones.com
(END) Dow Jones Newswires
09-14-12 1000ET
Copyright (c) 2012 Dow Jones & Company, Inc.
http://futures.tradingcharts.com/news/futures/DJ_BASE_METALS__Comex_Copper_Extends_Fed_Inspired_Rally_185531853.html
Good morning Chris nice to see you on the SIRG covering for Salty who is away for the weekend.
SIRG had a nice week and would be nice if we got the EA approval news this week. BLM had 30 days from July 27th so time for them to get their jobs done.
-Western Sierra Mining agreed to sell 40mm Series E Preferred Convertible GDSM Stock it received in 2009 from the Company to a group of investors for $400,000. These preferred shares were issued to Western Sierra Mining in 2009 as part of the parties previous joint venture efforts. Western Sierra Mining has agreed to apply these funds, on behalf of the Company, to the funding schedule above therefore completing the funding required for Phase I and II of the claims development.
In August Marc did a FL filing to change the conversion from 1-1 to 15 to 1, like a 15/1 forward split.
40,000,000 times 15 is 600,000,000 shares that were issued in 2009 and are freely convertible now. This is almost double their O/S and they only have 750,000,000 A/S so they will need to increase the A/S.
And Marc stated over and over NO DILUTION! Talk about a scam?
And GDSM NEVER had 50% of the JV as claimed. Read this!
-As consideration for the sale of the preferred shares, the Company has agreed to assign back to Western Sierra Mining 5% of its joint venture interest in the claims. The Company may buy back the 5% interest for $100,000. Additionally, the Company has agreed to issue Western Sierra Mining four million shares of a new series of preferred that may be converted to common in 1 year.
http://www.otcmarkets.com/financialReportViewer?symbol=GDSM&id=73887
-Western Sierra Mining agreed to sell 40mm Series E Preferred Convertible GDSM Stock it received in 2009 from the Company to a group of investors for $400,000. These preferred shares were issued to Western Sierra Mining in 2009 as part of the parties previous joint venture efforts. Western Sierra Mining has agreed to apply these funds, on behalf of the Company, to the funding schedule above therefore completing the funding required for Phase I and II of the claims development.
40,000,000 times 15 is 600,000,000 shares that were issued in 2009 and are freely convertible now. This is almost double their O/S and they only have 750,000,000 A/S so they will need to increase the A/S.
And Marc stated over and over NO DILUTION! Talk about a scam?
And GDSM NEVER had 50% of the JV as claimed. Read this!
-As consideration for the sale of the preferred shares, the Company has agreed to assign back to Western Sierra Mining 5% of its joint venture interest in the claims. The Company may buy back the 5% interest for $100,000. Additionally, the Company has agreed to issue Western Sierra Mining four million shares of a new series of preferred that may be converted to common in 1 year.
http://www.otcmarkets.com/financialReportViewer?symbol=GDSM&id=73887
Thank you, it's been rough seas and at times we were anchored in a harbor but SIRG is sailing along.
Congrats to all SIRG longs, this has been a great week and just getting warmed up. Not going to take much to get to .013 on Monday.
Check out SIRG's progress in 2012. One hurdle left - getting the APP permit transferred.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78920920