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That revenus sharing was a proposal and not a Dunn deal. It seems the 2 used plants were inexpensive and the company hoped to generate enough cash flow to build the newer more efficient $300,000 plants without outside financing and revenue sharing. Likewise the 6 portable Japanese plants are probably less expensive than tie original proposal. When the 2 used plants were returned, the company recoouped its money. Kibish. The bigger problem is the amount of shares that have traded at .0002 and 2.2 million printed at .001($220). Let's hope that the trades are related to financing by private investors but it sure is depressing.
scottrade shows 5000 on bid and 500 on .0003 offer
looks like they are getting ready to take out the offer.
We shall see. My friend Olga bought 7 million shares yesterday and is loading up again today. she is a very lucky person.We will visit Bolivia and then stop off in Cartegna to celebrate.
OK True. Maybe you will find a Obama LLama. I hear Joe the miner is upset that his taxes will go up if gold breaks a thousand bucks. BTW what is the market cap of a comapny selling at .001 that has a trillion shares ourstanding?
A triple only gets it to .001 which is where I was fortunate to load up before the April-May 2006 run. I know you think that this would be a good trade to takefor a double or triple but if it ran to say .02 you will be kicking yourself for taking a thousand bucks per million shares when it would be 20,000 if you let it ride. This stock, like many higher quality issues ,is in a miasma ;but if the market turns, big money can be made. That's one mans greedy opinion. Hang tough my friend. The choocie choocies may yet one day party with some Imanjinative and True investors here.
Agree that price is reflecting the diluting sales and the Ruby Yacht that Omar Petty is building. With banks being hesitant to lend money to anyone at this time, I have little expectation that the financing for the gtl is in place as suggested by the poster with the moster. Where is Pearl Mesta when you need her anyway. All I know is that this stock is under water and we need a lifeline badly. The 6 week deadline seems to be moving very slowly.
BOS you professed to have great info and gave yourself kudos for getting in at these low prices with your " group". Now you repeat the refrain of blaming the MM ,Vert , for a conspiracy to keep prices dowm for reasons somewhat vague. Thus far you have not been a very reliable indicator of future events. Websites, Schmebsites, this stock won't make a significant move until thyey start some meaningful processing of ore to give the company the cashflow needed to survive without endless dilution to raise capital. That's what I zinc.
Duh. Funny how a person who has the scoop that a major financing package will be announced soon only believes that there is an easy run to a quarter of a penny. The cooper news is far more encouraging. We are currently in a severe deflationary time where all commodies food, energy producer products, etc are falling precipitously. Unfortunately stocks are a form of commodity too and they are being marked down worldwide to accommodate much lower PE evaluations. Survival is key now. Good luck.
Maybe our luck is turning. FMNJ seems like a perfect fit to get some of that government money to develop Escala and hire more workers. I would not be surprised if the money is already committed given the companies strong relationship with the government.
No. Jessie was a wild man. But what he feared most was getting out too quickly since he often tried for a killing. He made and lost millions in the late 1800s when cartels controlled the market. He believed that you have to make sure you keep your position. Of course this can be a recipe for disaster as Mart has unfortunately discovered when he didn't lightenup during the run to .15 a few years ago. Jessie's big killing was in Union Pacific after the san francisco eathquake.Alas, he died broke but of course in the end, we are all dead.
As a devotee of the trading philosophy of the great Jessie Livermore, your plan of attack to trade fmnj belies his most important axiom. Do you know what it is?
In order to see how a particular company is doing price wise, it is often beneficial to see how the indusrty in faring in general with similar companies' performance.You should note that one of the biggest silver producers in the world is Couer D Lene, CDE, which was touted by our previous modeator. CDE hit a 52 weeek high of 5.18 and is currently .59 for a close to 90% drop. Apex mining, SIL, was $21 and is now 1.18. They are our major competitors in Bolivia. Their investors have also loosed (sic) their money. You also may have observed that stocks in general are not faring too well lately. If you never invested in fmnj, what great company would you have bought? Even with hindsight, I bet you will have trouble coming up with a name. Blaming pumpers, short sellers and others for a investment gone sour is shortsighted and a cop out. Do your own due diligenxce and you will be comfortable with the stocks you own even if the price disappoints.
It is unseemly to count ones chickens. Right now you have a paper loss and there are no guarantees. Hope your confidence is confirmed by future positive events. If this works out it matters not whether you bought at .0004 or .005 or even .03. The real trick is to know when to exit.The buy low sell high axiom is useless. We all hope your sources are accurate.
Your information seems to coincode with yesterdays memo from Petty as to discussions with bankers to finance the gtl deal. If he can successfully conclude the fianancing, it would no doubt have a material effect on the stock price. If it is almost done, it will be reflected in a move before THE MOVE. A move from .0003 to .003 would not be unexpected.
Why wait. If you have a good claim you should prosecute it now while the company is still solvent. I am sure you will get a lot of sympathy from the government who is such a great enforcer of the rights of investors who buy penny stocks. Look up caveat emptor in Wikipedia. Oh you bought a gold mining stock . Duh. Waqsn't it the Federales who shot Butch and Sundance in Bolivia. Who are these guys.
Glad you were a mensch and fessed up. I recommend Reminences of a Stock Operator by Edwin Lefevre written in 1905. It is a fictional work about Jessie Livermore, a great speculator who lived during the early markets when cartels could own and control stocks. You are wise to buy at these levels and it will also be wise top sell some on the news. You kwno the old saw about bulls, bears and pigs.Good luck to you 2 and all others who have a position beside missionary.
Truth, like beauty, is in the eyes of the beholder. If you believe that the compnay is a scam you should have no part of this enterprise. Maybe you should get on the Starship Enterprise and go back to outer space. Whiners are not usually winners my friend.
While you have receives kudos for your treatise, it is dishonest to copy others words without giving the true author credit. Unfortunately most of the information you copied was inaccurate or misleading. All sharp price movements are not the result of market maker manipulation. Generally, a stock price is based upon an auction market controlled by the normal rules of supply and demand. The market makers job, allegedly, is to make a stable and fluid market. Unfortunately, with pinkies, otc bb and some small caps. the order book allows him to manipulate the market to some degree. In the case of fmnj, the fall in price is due mainly to the need for the company to dilute and sell shares out of treasury to finance its operations as has benn often stated here. Rumor and frontrunning of news by insiders also has a dramatic effect on a stock. It will not be surprising to see a big move a few days before some real news hits. Sorry to call you out on the plagarism, but if people reread your post, it will be self evident that it came from a book or article. Maybe it makes people here feel better to blame short sellers, MMs, or insiders for a precipitous stock drop. If you believe this is all a conspiracy, you should definitely follow the adage to sell on the news. Thois happens because the price moved up prior to the news reflecting the dispersal of insider information.
you mean we need vert to go. getting dizzy thinking about it. No fun trying to catch ba falling knife.
Activity is related to arbitrage of 504 stock in my opinion. Meanwhile Sundays announcement tips off the fact that no substantial processing will be done until Canadian assay is complete. This does not encourage new buyers.
I do not like Pettys plan to have a partner build the processing planta at Escala although it would cost the company no money initially. Each of the 6 palants will cost approx $300,000. The investor, after recouping his money on initial 80/20 basis will have a permanent 20% interest thereafter. I would prefer that the company raise enough money for one or two palnts, $600,000 , and then use the cash flow to purchase the remaining four.
!68 million and climbing
Where did that 68 million shares in 15 minutes come from? maybe the final big insider purchase before news. or maybe not.
Nice memo adressing gtl and the dilution of shares. I am a little mystified how Petty can complete the contract to do the gtl plant and then go to the banks for a loan. With the current credit crunch, it does not seem that there are bankers willing to make a questionable loan with no collateral. The best thing about the 3 minute interview is Tracee Torrentino.
GM falls to 1950s level as I write this. Remember the old adage.."as goes Gm, so goes the country." Well the GM chairman was on 60 minutes this week. Our greatest automaker has invested its entire financial future on the Volt, a electris vehicle that can travel 40 miles and then has to be recharged!! Oh, by the way, this mental midget, who recently bought the crumbling Rennaisance Center in Detriot for billions, tells the interview that he has a private plane and that he and his wife Each own a helicopter.Thousands of books will be written about the idiotic excessive age of greed that we live in. I'm ready to head to the Island. Look boss, De plane, De plane.
You should have informed our erstwhile ex moderator that he was no longer leading this board. What hubris. His presceince in stock picking and understanding the metals market apparently does not extend to his own favorites. Why doesn't he warn and save investors of stocks he is invested in? Click on his opinion and buoyant pumps on such competitors as SIL and CDE which have also burned and crashed. Did they have lying management too and why does he support them? Check out the correction in Freeport McMoran as an example and you will see that we are in a currenmt commodity crash. Inflation is not the problem. We are looking at massive deflation even while the Fed is printing and dumping billions of dollars into the system. The global selloff indicates that the World has caught a virus which is infecting the entire financial system. Benign countries such as Iceland teeter on the verge of bankruptcy. Pray that the next President, whoever he or she (God Forbid) may be, has a litle bit of FDR in him. We will need strong leadership in these trying times. Right now there is no way to evalaute the value of any securities much less a Pinkie.Sorry for the vent. God Bless America.
I didn't say the restricted shares were pledged for shorting. The short appears to be naked but in effect it is a short against the box.The regulations on short sales are as effective as the CDO crisis that thretens to put the World into a Depression.Ask BTDT. He has all the answers.
Your guestimates are based on such vast knowledge. Why aren't you trading this market instead of wasting your talent on a microcap pinkie. Let me know if you have anything original to say.
Here is a nefarious scenario as to why the shares have tanked even though the shares are restricted. EG. you are offered say 100 million restricetd shares at .0003. These shares may not be sold for one year. Cost is $3,000. Stock is trading at lets say .006 at the time. You short 50 million at .006 and take in $3,000. You now have recouped your investment. If stock goes to a penny, .01,you deliver the 50 million to cover the short and you have a profit of $50,000 on the remaining 50 million shares you still own. Not a bad deal.
The constant reference to the outstanding shares is tiresome and not particularly helpful. Obviously the company needed to raise capital to fund the assays, the studies for the processing plants, the gtl projects, the mining equpment, labor costs, attorneys fees etc. The hope here is that the company will be able to generate a positive cash flow to fund its operations. Most here may have observed that the World is experiencing a severe credit crunch. If someone has a better way for the company to fund its projects, please let us know. In effect, the sale of additional shares is a second offering. Finally, I want to thank Royal for the many hours of effort he has put into this message board to keep us informed. The original moderator you may recall, was an unabashed basher(to coin a new oxymoron). Keep up the good work.There are a few good posters here that are interested in giving some thoughtful opinionsas opposed to a lot of braggadocio about how many shares they own. I could care less at what price they are "even".
The days of the pump and dump scheme are thankfully gone. I think Petty is now set on complying with SEC regulations regarding mining estimates. When verifiable reserves are confirmed by an independent lab out of Canada thoughful investors will buy based upon good ingo and not fluff.
Thanks for the explanation as to the new information. The gold news and history is interesting and if borne out by the assays we are talking about millions of dollars in recoverable gold. It sounds pretty good to me.
The tipoff was that public companies taht are in gold and silver mining began to drop when gold and silver rose to near record levels. While many here have been alive to see a few recessions Eg. The terrible 70s, a cyclical bear market, the 1986 stock crash and the sept 11 crash, no one has been alive during the Depression. In a Depression, housing prices and all commodities fall to unbelievale values. In a recession, if you drop the prices, you eventually hit a number where buyers appear. In a depression, there is no bottom as most folks have been wiped out by stock and bank failures.The oil market is pointing the way to the deflationary pressures that are coming. (n my opinion, after today, we will not see a 10,000 Dow for years to come. Best unvestment now has to be liquor companies. We all nees a drink in this environment.
For whatever it is worth, it looks like fmnj traded 12 million shares in Frankfort this am at .001 euros which I believe is around around .0013 USD. It is only a 12,000 euro investment but interesting none the less.
It seems that VERT is the MM that trades for the company shares that are sold from Treasury. Since Vert is first a seller to the insitutions or private investors that took these shares, it is not surpising they are not on the bid.
I agree that the poorly worded PRs permit those with guts to get a great enrty point. Look at SIL which has moved today to a quadruple off its lows. Apex mining shares may be tipping off the opportunity FMNJ has in its Bolivian silver reserves. Good to dee the industry has apparently bottomed. Expect a move in the tertiary companies like fmnj. The next PR should help clarify and bolster the price.
Try some Preparation H.
My math was obviously off. Now lets see if the numbers make sense. The budget is 1.6 million for the year. The gross revenues are 3.6 million. That leaves a net for fmnj of 1.8 million less 1.6 for the budget or 200,000. Have I missed anything now? 200,000 divided by the outstanding shares gives you a revenue stream of approximately the current price of the stock. Stock is trading at 1 time trailing net revenue for a p/e ratio of ??? BTW how much ounces ofa gold does it take to make 1 million dollars?
I think most here have misconstued the numbers. The operating budget for the year at Escala is 1.6 million. The company has already spent $300,000 to get the plant operational. The numbers of 10,000 gross revenue per day gives the mine a gross yearly revenue of 36 million dollars. Fmnj shate at 50 % would be in the area of 18 million a year. that is not a bad number and may be conservative if the economic cdollapse causes precious metals to rise dramitically. What am I missing?