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Check out NYBOBS u tube of the mining at the great Cerro Rico mountain and you will really appreciate the efficiency of the mining operations in Bolivia where lung disease is an occuptional certainty. All that valuable silver and each ton is lugged out by dangerous carts that barely can stay on the Rails. There gotta be a better way to do this.
Oh ye of little faith. Why would a mining company that is operational ask a mining company trying to become operational to manage their mine? Stay tuned. Maybe someone can come up with a list of companies that are mining in Bilivia so we can guess the name of the future partner. I thought most of the mining was done by the cooperatives.
There is a reality TV show about this crew. Ever see " The Biggest Loser". I think the movie version was called "Ship of Fools". You do not have to invest your bubble gum money to have credibility here. In fact, if they still gave away players cards with the bubble gum that would have been a far wiser investment. I think the troika, getdemmart, has now accounted for approximately 300 million total shares. Unfortunately, in this day and age, that does not qualify as too big to fail and hence no Federal bailout. Gopd luck to all since all here are Totally Busted
I was referring to Mart as the largest private shareholder. Sorry the sentence was confusing. I do not make it a habit to publish what I own since I do not believe it is relevant to a discussion of the merit of a particular holding. I also believe that dendiamond has a large share but his may be held as part of a group. 100 gs buys up a billion shares at these prices. If you could lend me around 99,000, I would be very appredcaitive and will give you all the credit when the stock runs.
As the largest private shareholder, I have to take your comment as self effacing. Don't be so hard on yourself.
As a tear rolled down Clarabell's cheek, he spoke for the first and last time to the Peanut Gallery on the last Howdy Doody Show. That was a fond memory. While I too will miss the Coochitas, I think I miss Clarabell more. What were his last two words? Hint: It was not BUY Franklin.
Let me recommend a few names for you to try my frenetic friend. Lexipro, Zanax, and maybe a little Librium. You may also want to go to the library and check out Scarne's Complete Guide to Gambling. If you are so successful they you go into a small stake all or none poker game and turn 100 into 500, I suggest you quit your job and make a living as a professional gambler. I know some people that can stake you and maybe you can win the World Series of Poker. After that, who know, you may some day own your own casino. BTW if you research fmnj you will see that it has a socialist agenda with regard to Bolivia.
I didn't say it was crazy. You are investing your profit so your basis is zero. The only trouble with your thought process is that the money you "made" is actually yours and if you lose you will have lost that $7500 but in any event it wont hurt too bad. Kinda like going to a casino and being "up" a few thosand dollars and tnen giving it all back and an extra thousand to boot. It is not devastating but it sure doesn't feel great. Once again good luck. We need more Don Quixotes in todays desperate age.As they use to say : ya gotta be in it to win it.
Checked out your portfolio. Interesting investment decision to invest around $5,000 into some promising Pinks that are tradong in the thousandthe of a penny level and hope that one or more will hit. I have heard of crazier ideas that have been successful and you are certainly young enough to take a hit for $20 grand or so and not being mortally wounded. Good luck to you whipersnapper. One word of caution: Euphoric pronouncements on message boards hoping to pump some life into stocks no longer have any effect in these trying times. In fact, the history of great moves by these types of stocks when some of the best names are now little more than penny stocks, eg. cit, aig, et al, does not suggest that you are ready for a near term reward. Another problem is that if you get a move, are you smart enough to take some money off the table or will you feel so immrtal that you will let it ride back to oblivion. I'm sure you will keep us all posted. Good luck amigo.
As Roseanna Danna use to say: Its always something. Obviously the preliminary assessment that the Escala mine contains $687 million in recoverable lead , silver, and zinc at current market prices is very impressive. That leaves the $64 dollar question as to how much money it will cost to produce and process these metals and how long will it take to get it out of the ground. Giving them a 10 year time frame, por ejemplo, they would get 68 million per year less the cost of production. Even if the production costs was 50% they would still net $34 million a year which would give this company a positive PE ,albeit a high one, considering the onerous amount of outstanding shares. That being said , I am somewhat encouraged but the key will be the production costs report. Finally, I would like the company to clarify how much, if any, metals are being processed. That's all folks.
A typical convoluted announcement. If the cash or shares are to be paid to the shareholders, how does the company use the cash to build the Escala mine. Pre announcements almost never come true. Also is the gtl project part of the O&G division or is it only the Texas wells? He says the division has no assests so what is he selling in Texas? It sounds like the movie There will be Blood and someone has taken a straw and drank our milkshake.
Just figured out why Billy Bob is having shareholders take stock instead of doing a money deal. He owns probably some 2 billion shares and will get a huge amount of shares based on a pro rata distribution. Still don't think it will happen.
I still prefer the French Ditty: The first marine ate the bean parlez vous......inky , dinky parlez vous. Not only are we under water here, but the subamrine is soiled. Forgive us NYbob, we know not what we do.
Hare... hare khrishna...... hare ... hare. I have shaved my head and taken an oath of abstinence from all but the choochitas Comr to think about it, all the investors have alresdy joined a Christian order. The stock has made all take an oath of poverty. Remember the only thing money can't buy is ....poverty.
Hallelujah
Went to the Rev's website. He is apparently a devotee of Holistic medicine. Have a friend who is certified in Reiki which is a form of laying on of hands to impart your energy source onto others. I suspect that as the World situation worsens, more of the fringe Hari Krisha (Jim Jones) types of groups will find a audience desperate to believe. I for one enjoy the religion of the Coochies, who practice a unique form of the Kama Sutra known as Tantra. In the end we have only ourself to blame when we didn't see that NYBOB is just a continuum of the spectrum of man's ill conceived search to spin the wool from a baby llama into gold. Even if successful, we would have been shut down by PETA.I'm preparing a sandwichb board sign to wear procaliming that the Appocalyse is Here.
Where is that written Reverend. (By the way are there any non spiritual ministers? )It seems like you are referring to Jesus' advice that the meek shall inherit the Earth. Your hope for rapprochment between the races and the peoples of the World suggests that you feel the human trait of greed and self interest can and will be overcome. I respectfully disagree and point out that billions of people have been born, walked the Earth and died since Jesus made that prediction. You think the odds are those alive today will break that streak. Of course, not many believed that it was possible for the US to elect a black President until it happened. Keep the Faith.
In these very difficult times for the US and the rest of the world, it is difficult not to maintain a sense of forboding , skepticism, and gloom for the future. The dissatisfaction expressed here for a mere pink sheet long shot is mirrored by investors who purchased at high prices the likes of AIG, the largest insurance company in the U( .50 cents); GM, the largest US automaker(1.50) etc etc. Not too mention those who invested in the cash engine of our economy the great financial institutionssuch as Citibank, the largest bank in the US (1.50) The very symbol of the stock market, the great Merill lynch failed and was absorbed by Bank of America. To paraphrase the Old Philosopher,Bunky , " you think you got problems, Never. Never Give up the Ship." Don't Cry for me Bowleevia, the truth is we never trusted you. you broke your promise , we kept out distance, you broke your promise. I heardd a rumor that they were setting up a yard sale at the Escala.
A long weekend.
I think that investment decisions should be made based upon the information you have as well as your guess for future of the company. This announcement only states that the company has decided to sell a division and that it has an offer from a oil company that it has tentatively accepted. Legally of course this is hog wash. You cannot tentatively accept an offer since all the terms have not been agreed to. Since there is no deal yet, why would the company make this announcement. I think they are trying to talk up the stock but even if the deal is finally signed, it does not seem that it will be a windfall for shareholders. They previously announced about a year ago that the company was selling this division. How much money or shares do you think someone would pay. What are they in fact selling? I need more information to make a decision as to whether to buy more. Many here have already decided not to sell at this level. I rank this a hold for now.
His left hand is in my pants pocket and I don't enjoy pocket pool with a Texan.
I agree. They should use any money to build the company. That is the way to get the price of the stock up. Duh. These guys just don't get it. I seem to recall that they announced the sale of the O&G division once before to a small pink sheet company and that fell apart. Maybe they can sell the Brooklyn Bridge again.
My friend this is just a ploy to get people to buy shares now before the x dividend date so the will qualify for the shares in xyz. For your sake I hope that you get 1 share on exxon mobil for every 2 shares you own of fmnj. Do you think that will be the deal. No. If it is a major company you will get 1 share for every million frankies which still is probTbly a good deal for big shooters like you and dendiamond .The point is this will never happen anyway but if it did I fail to see how it would increase shareholder value since the shareholders and not the company gets the shares.But what the heck, if you believe you can invest another ten grand and buy what like a billion shares yourself. Relax since like I said , it aint gonna happen.
This kind of announcement has unfortunately been typical of the type of premature news the company has made in the past. As I suggested, the company is now trying to increase the price per share by selling off or spinning off its incipient projects. This probably signals that the gtl project is dead since I believe it is part of the Oil and Gas Division unless he is referring to Texs wells.In effect they will probably try to liquidate all projects but the Escala. It is also troubling that this deal is for stock in the acquiring company to be issued to shareholders. I invested in this company to see them develop mining projects and not to get shares on xyz corp trading at 40 cents on the amex. Would rather they got cash and invested it their own company. My opinion is that this is another one of the announcements that will not be fulfilled . A real company would never announce that they have tentatively accepted a deal that has not been finalized. Pettyb continues to show that he belongs on Amateur Hour.
Thanks for the update. I don't believe the stuff about the processing plant since it wasn't mentioned until 2 days ago. The meeting in San Antonio as probaly being held in the basement of the Alamo right next to Pee Wee Hermans bicycle. Steve should write a book about the company with an introduction by Bernie Madoff. Hope you are not in the dog house considering what the natives do to dogs in Boleevia. Maybe you are in the dog house and they just threw you a bone. Thanks for your efforts Fido.
A meeting to try to get the stock higher and no reverse split. Hmmm. Maybe he wants to spin offf some of the projects like the gtl in Argentina, or the oil wells in West Texas. He may be a little naive but you cant say the guy is not tryin. Baby llamas will be served immediately after the meeting followed by a bevy of coochie coochie girsl for dessert.
You points are logical and probably an accurate assessment of the status of this company. I don't think it is paarticularly fruitful for shareholders to get into disagreements over the veracity of the company's prss releases and memos. One of the reasons for a message boards is to help with due diligence inquiries so that members can make intelligent investment decisions. There are only three possible decisions to make to wit : Buy, sell or hold. The lack of confidence a rational person gets from the past promises not kept is, that to buy here is very problematic. People who feel that this .0001 level is the lowest a stock can sink are misinformed. Of course, if the company goes belly up, and you bought at .001 you still lose 100% of your investment. Looking at the sell choice, an argument can be made that getting back a hundred bucks for every million owned is beter than getting zero. At this level, I would rather get zero, so my choice is to hold and hope that somehow the company can turn it around and make some money. The reevaluation of the processing plants at the site is very disappointing to me. Giving management the best case evaluation is that they did intend to do the processing in situ but upon further study, the cost became too prohibitive. Isn't it strange that we are in the same boat as someone who owns lets say, Citicorp. That's my 2 cents worth.
Reminds me of sitting at a blackjack table and watching the dealer run off 10 in a row. Should have left this table a while ago but like the perennial loser, keep feeling the cards will turn. Trouble here is the ceo here is a boy scout. You know the motto. Be prepared. Or was it prepare to prepare.
WE have a better shot if we sell and us the money to buy a ticket to India to see if we can be the next slum dog millionaire.
Just reread the memo again and I find a lack of sophistication that is troubling. The reference to a unknown company that had a trillion shares outstanding and a float of 203 million is completely nonsensical. I don't think Petty understands the term float. The statement that his study reveals that the total number of trades influences the price is likewise amazing as it is naive and inaccurate. The question that is most important is what the heck is the company doing to get the 1000 tons of rock that has been blasted from the mine off the ground and into a processor wherever that may be. We need less memos and more action.
Most pr firms are valueless in my experience. The failure to mention the processing plant and the talk of going to a new cloesr plant via truck indicated that this project is behind schedule. Wonder if the environmental liscense affect the toime frame to build the on site plants. Please see if the company can estimate how much total dollars they get from each ton in silver, zinc, lead etc. We coauld then estimate the incme per ton so we get some vague idea of the potetial profits if the company mines 25, 50, 100 or 200 tons per day. Hope you gert some satisfactory answere and thanks.
This memo. in my mind, does little to clarify the Escala project, gtl and/or the issuance of shares. I have many questions that maybe someone here who talks to management can get clarified. 1. How many shares have been issued so far to private investors? 2. Are these shares restricted for any period of time.? 3. Are these purchases listed as open market trades? 4. Is the company shipping produdct to the processing plant that is far away or is it too cost prohibitive at $40 a ton? 5.How could the company be unaware that there was a closer plant? 6.What is the status of the on site processing plants? 6. What happaned to the Texas drilling project? 7. Does the lack of an environmental license affect the mining of ore or processing? If not, why is it important? 8. How does the company expect to generate enough income to buy back shares? 9. If Petty really feels that the stock is being held down by the noumber of trades, it shows a complaete lack of sophistication as to how stocks are priced. He should know that the selling of shares from treasury to private investors is the cause the stock is so depressed.
Maybe they are mad that we go out and eat Chinese. BTW is a royalflush what the queen does after she does her business. As Truman once said, I gotta laugh cause I'm too old to cry. Any word from the company minions lately?
That is totally dispicable. It shows that are, indeed, savages. Michael Vick's punishment was well deserved and I hope any team that wants to hire him will shy away because of public opinion and ticketholders protest. I am bummed out by your news.
Did you know that if you scramble the letters in sortagreen it comes out greatsnore. I think you picked this name subliminally.
Hard to figure the new issuance except if they are shares he intends to give to vendors, perhaps the processing plant fabricators, to complete the Escala. The info posted on yahoo board was encouraging as to the buyback. All we can do is hope that this is part of a good business plan.
Thanks for working out the math. The number should be higher than a 50/50 split since I believe it becomes 50/50 after the cost of the proceesing plant etc. is recovered. Is that anyone else's understanding? Also the number you cite can be doubled if they ever do reach maximun production and recover some gold ? It would be nice if the company could some how confirm its objective for this mine? Perhaps that is the real reson that the consultant was hired. His estimate as to the eventual value of the Escala will obviously more meaningful than the companies estiamte which may not be accepted as unbiased. I think a two week periosd should be sufficient time for the audit.
The $10-40 cost per ton range you site is rather large. Also I am somwhat mystified that the status letter projects the processing of 200 tons of material per day at full production. Considering that the company claims it has 1000 tons on the ground, it would only take 5 days at maximum production to eat up that backlog. Do you or anyone here have some realistic guestimates as to what the company could hope to net if it starts processing lets say 40 tons of material per day. Finally, the cost you cite must be highly influenced by the decision to process in house or ship to an outside processing plant. Maybe that is why the company has been so hesitant to ship the ore by truck to a outside plant. As a start, it would be encouraging if the company can report any income, even if it is small due to processing problems.
That indeed is a sh*T load of silver. Problem is the cost of getting it out of the mine and processing. Does anyone have any idea of the profit margin. ApeX(sil) had tons of silver and they got strangled by the debt load and futures speculation.
Who said I was a penny flipper. If I was I would clean up since the 1/1000 of a penny coin keeps comong up tails. Reread the post Sorta. I said I was buying and sellig at .0001 for a push. Go back to rereading the Communist Manifesto.