Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Maybe you can find a story that the government is committed to a gtl plant to turn there gas finds into gasoline. Thats the news I'm looking for next.
You remind me of the bellboy who got fired for spreading roomers.
Hope everyone has a good weekend. Stock looked pretty good today. Maybe Petty can get the deal done this weekend and the next photo posted will be Petty dancing a tango with the wife of the governor of Tierra del Fuego. Next week can abe very exciting...... or maybe not.
Tell you what I think Getthem. The company today sold about 1.5 billion shares to a investment group or individual to take in a cool $150,000 in cash needed to complete the plant, gtl deal etc. Those who think this was someone dumping shares does not understand that for every seller there is a buyer. Who was on the other side to pay .0001 for those billion plus shares. My girlfriend Olga hasd an order in and gor filled for 11 million shares but she is, in my opinion, the exception, since most people, like the new poster, panic and pull their order thinking the stock is going to zero. For someone to make a sizeable investment now of over 100 Gs, they must have a stong basis for believing that this will work out. It would not surprise me to see a close of .0002 or better. If the company has enough cash now till the cash flow from Escala comes in, the stock should make a nice move like it did a few weekw ago. What do you think senor? Did we getthem or did they getus.?
petty may be saying float is 2 billion since the rest are held by big money boys but if they are not resticted, they are indeed in the float regardless of what Petty believes. If I had a billion shares at a .0002 average, I would definitely take my money off the table at lets say .0006 and let the rest ride. Obviously someone believes the story. Time will tell.
If it is a sham, how are the scamsters going to benefit? You have communicated with the company hoping to get an edge. Did you expect any company to tell you thing are not going well? The world is in the middle of a terrible recession and many business plans have been canceled or tabled. On a positive note, the people running the company seem to be active, hands on managers who have put there future in the companies hands. No one likes to see the stock flatlined, but we are in good company weith the likes of people who owned Lehman, Dry Ships, Citicorp etc. The survivers will do well once the world recovers so just hope for survival or else sell and take your losesif you have lost all confidence.
Hey Mart. Did Petty really announce a year ago that he was traveling to Argentina to try to finalize GTL and that he reviewed the Escala infrastucture buildup? Also if you were running the company, how would you pay for the costs and expenses rather than issue shares? As probaly the largest individual shareholder, I would think that you could give a more cogent response to the board. Do you think we should all take a hundred bucks for every million shares we own and head for the hills. Do you think this is all a sham and Petty is not trying to make this company a success and Infante, Dunn and Baker are wasting time working in a primitive culture with little conforts? BTW I don't expect a intelligent response to my questions. We are all frustrated but venting is not the solution especially from someone who has invwested so much money hoping to make a huge score.
Petty's return to Tierra del Fuego, an area that is near Antarctica, does not appear to be a junket. The appointment of Dunn and Infante to the Argentine suggests that the long awaited deal may be near. Petty may be going to sign the contract but doesn't want to post it since it would disappoint if the deal is delayed. Maybe we will get a nice Christmas present after all. This news could put the stock in play big time.Stock volume is about nol the last few days with under $50,000 total dollar volume. We may be heating up soon as a flat line chart often is a harbinger of a bull move.
If you count shares yopu will fall asleep easier. I tried it last night and fell asleep at 568,000,206 Frankie Llamas jumping over a fence. I recall Petty discussing the OS in an early memo to shareholders when he first took over. I was talking about a news release. Never saw one yet that addressed a decision to not go into the equity market to raise capital.
Companies never announce that the are no longer issuing shares. You can figure it out yourself when the price starts to rise without news. In these times there is no accurate way to evaluate the value of an investment be it a pinkie or a solid company like GE. The market cap of Citicorp is only 25 billion for example. Meanwhile the market continues to make a stealth move upwards. A rising tide lifts all boats they say.
Opening bid/ask was .0002-.0003. Srock traded at .0003. I think that is calledd an uptick. You were up 50% for the day a little while ago. Not too shabby.
Uptick prior to open. Looks like the next leg up is about to commence. Happy trading for all.
The children will be fine. When asked about how he liked children, WC Field replied "well done!". Worldwide governments are infusing trillions into the system to stave of a complete financial meltdown. Bailouts seem to be, infortunately , part of the necessary medicine. Isn't the government holding our money anyway from revenues from taxes and bonds? As for franklin, sp advises that the trucks are ready to roll and gtl is awaiting the government imprimatur. If this is true, the stock price should soon reflect the fact that the company will make..................money. BTW, I thought a Rio Tinto was was gthe Brazillian girls did to their landing strips. $85 is enough to pay the beauty parlor.
It is always darkest before the dawn my daddy use to say. Plenty of fear, and rightfully so for no one under 85 has experienced the deflation that was the hallmark of the DEpression until now. Worldwide governments are printing money like crazy buttressing the greedy banks that are the major cause of this debt bubble. It is now time for a transfer of the worlds wealth from the oil rich nations back to the people who actually know how to build stuff and have technological know how. Hi ho silver ....away. have fun kemosabe for in the end we all just a grain of sand in a vast universe.
Stock market is making a stealth rebound which is good news for us as well as the country in general. Last hour indicator has been strong the past few days. It is not unusual to see a 50% retracement off the lows. That woulde give us a dow of around 12,000 and a fmnj price of .02 sometime in 2009. As Royal pointed out, most here will be gone at a half a penny looking to get back on a dip. Thats my call for what little it is worth.
Half a billion shares at approx .0002 is a cool 100,000 to buy a nice 40 ton truck and a tankful of gas.
It would be nice if this board had posters who could give some commentary on the prospects , or lack thereof, of the company rather than whining about the price, short selling conspiracies and, alleged MM manipulation. It takes money to run a company and until the trucks start to roll and the pilot plant is built, the CEO still has to pay for salaries, administrative expenses, traveling costs, legal fees and maybe a coochie coochie dama or two to keep the buyers entertained. If those who still have the ability to think believe that December - February will be exciting times, buyying at the .0002 level might be the best investment one can make and you can thank the company for its ned to raise capital. For those who have a set of cajones like our friend Mart, listening to griping from idiots( you know who you are) can only hurt ones smart investment decisions. This may be the last time to jump in at these bargain basement prices. We shall see.
The speculation here does nothing to increase or decrease the stock price. Any company that would try to plant information or false rumors on a message baord would be a sham doomed to failure and possibly prosecution. That being said, these boards do have a use for those who are interested in doing some due dilegence and have the ability to separate the wheat from the chaff. It is also amusing to watch penny tday traders post who think they can influence a stock price. I am sure you have not been there of done dat but it is not too hard to see who duz.
Many of the posters here who claim to have some special knowledge have been consistently wrong. Asking for a publication of inside information is just plain stupid since trading on this type of information is illegal. (just ask Mark Cuban).That being said, an investor often gets tipped off to future news when a stock starts to outperform without any news coming out. Buy on the rumor, sell on the news adage seems to work out many times. I hope that this time the correct strategy will be to buy on the rumor and buy more on the news. I have no idea how to evaluate a possible gtl contract before the terms are published. I do know that the company's credibilty will be sharply enhanced once they start processing the ore and if they do get to help build the Argentinian gtl facility. Stock looks awfully cheap at this level where a double will only make it a tenth of a penny.Back to the future.
You do deserve it Mart. My friend Olga was able to buy 3 millio9n shares at .0001 a few days ago. To me that was a sign that the investors were filled since no shares were truly availoable to the public until then at the bid. A person who says he bought after the fact is suspicious especially when they unloaded at .0003. Who cares. Enjoy the ride.
The key here is the speculation as to what event that will soon be announced triggered this reversal of fortune on one of the worst days and closes the overall market has seen in decades. Has the company signed the GTL deal with Argentina. Has it received funding?Has the company discovered a gold vein at Escala? Has the processing plant been delivered? Who knows? The Shadow and the purchasers who paid up yesterday in a horrific averall stock market. I bet that fmnj was one of the best performing stocks yesterday. It will be nice to see if the move becomes parabolic. I'm looking for a gap opening of .0005 and a move to .0008 before a retrenchment to get out the weak hands and those who will be happy with a triple or better. Thje key of course is when the major investors decide to bail or lighten up or even just take back their investment and let the balance ride. In any event volume should approach a billion shares until the stock moves back to double zero levels. That's my opinion of course. Good luck and for those who think they can be succdessful( True and others,wink wink, happy trading!!
Yhe world looks like its coming to an end. Im moving to boleevia to chew the leaf and play with the coochies. Unless as they may some day say, as goes fmnj so goes the US of A. Its been a long time since we had something to cheer about.
Infante and Dunn were previoulsy managing and evaluating the resources respectively at the Escala.I agree that moving them into Argentinian GTL project may be a hint that a deal is on the way. It looks that they now are using 4 full time executives including Baker and Petty to run the shop. We shall soon see as the clock is running on production startup and finalizing Escala.
a billions shares plus traded yesterday. Assuming it was mostly private investors buying treasury shares, the company probably raised aoun 100,000 yesterday. Obvioulsy the trucks used for transport and the processing plants cost money to build. Current projectios are that actual meaningful deliveries and processing offsite in Potosi or on site at Escala should be commencing by December giving the company cash flow. While the average Joe here is liquidating, some investors obviouly are taking a big shot. Rik r4eward at .0002 to whatever seems enormous. I am amazed that anyone would take a 100 bucks for a million shares since you can write off the entire investment without selling under IRS rules.
Good to see you back Tony. Always impressed with your count of the prs from the company that never came true. I think your lasr count was 206. Don't you think the company should use a good Ford 14 ton truck rather than a Volvo from the Geries.
I hear the baby llamas are quite tender but you cant eat the hump.
I see SIL is down sharply again as it traded as low as .45 way off its $19 52 month high. The company may be on the verge of bankrupcy partly due to some bed commodity plays and Soros putting the Kabosh on them. I wonder if the Bolivian government might be interested in having a small solvent debt free mining company take over running the San Critobal mine near Escala to make sure the cooperative workers have jobs in these tough times. BTW, if wwe do have another FLOOD, I hear that NYBOB will let us take two baby llamas on the Ark but he objects to Trueheart including two Choocie Choocie girls.
Lets talk about the huge outstanding shares which some have posited to be around 8 billion. If the company becomes profitable and earns say $40 million, and had 8 million shares, it would earn $5 per share. A billion is a thousnad million so 8 billion divides the $5 by 1000 for a net of .005 or a half a cent per share. Give it a reasonble price earnimg ratio of 25 and the stock would trade at .125 which was around the old April 2006 high. That's the reason to be in a super speculative stock such as this one.
Thanks Royal. Lets work the numbers to see if it makes sense. If a 14 ton truck does 18-20 K a week, I guess he is talking about 5 weekly 14 ton shipments of rock to the processing plant. Therefore 70 tons of rock will be processed into approx $20,000 in revenue. Lets be conservative and say it does instead $14,000 for a average of $200 per ton. At that rate a 100 ton a day pilot plant would generate $20,000 a day in processed silver and zinc. If it operates 200 days a year, the plant would generate $4,000,000 in yearly revenue. If they succeed in builing three palnt, they would get $12,000,000 per year. If the companies stake is 50% they would net $6,000,000 per year. Please comment on this guestimate.
Petty said yesterday that a 15 ton truck would generate 18 grand in revenue from potosi processing. My limited math indicates that it takes about 7 trucks to hold the 100 ton daily capacity of the pilot plant. That would mean 126,000 approximately per day from the pilot plant. Are my figures accurate?
As the Japanese partners would say, the erection was over last Tuesday. Now going back to playing with your old erector set.
Thanks but I'm still confused. Why is is designated a pilot plant. Also is this part of the multiple plants they bought from the Japanese. If so, are the looking to process more than 100 tons of ore per day. How much silver, zinc etc is it reasonable to expect 100 tons of ore to produce.
Does anyone know what the daily capacity of the pilot plant is as far as processing ability. Is it called a 100 ton plant because of its daily ability or does it weigh 100 tons? Serioulsy any useful info will be helpful. Also how long dod Petty say it would take to erect.
Let the good times roll. Looks like we finally going to get some significant cashflow. Now the company should clarify the status of the in situ processing plants. I guess that when stuff is processed at the Escala, the company will still need trucks to transport the processed ore to the railroad.
sil down a stunning 40%. what the heck isgoing on in the industry
Thanks for the info? Is the report the company is awaiting from the Canadian independent lab a big piece of the puzzle as far as the legality of the company to state a formal reserve figure? The caveat about the Dunn figure's reliabily, whether it be related to his credentials or bias as an employee of the company, leads me to believe independent confirmation is major event? Am I off base?
Can you or anyone explain for the metallurgically challenged what the Dunn report generally states as the potential recovery of ore at the mine? On page 43 it reveals that the cost to run Escala at full throttle will be 2.75 million per year. How much revenue will the company derive after subtracting the cost for its final net gain ? Is the evaluation the company is awaiting from the Canadian company one that will be accepted by the SEC as a certified assay of the known reserves? Also, does the rainy season preempt mining and processing at the site or does it merely delay the tansportation of the processed ore from the mine. Input from you, the cork , or any other kmowledgeable posters will be appreciated.
Hmm. So you and your group have moved on. Sold your 1.5 billion shares at .0001 did you? As you would say.... hehehehe. How much money did you and your group make? BOS all you have to do is subtract the O.
The last announcement indicated they wanted to ramp up to 1000 tons a day. That would make the reserves last only 57.5 years. My goal is to outlive the reserves. Moses did it so why not Imanjen. Wonder where FMNJ will be trading in 2065 when they have more shares outstanding then the population of Earth and 2 other neigboring planets.
While the stock price reflects a company at or near bankruptsy with a almost no nonexistnet market cap, the company news seems to indicate that they are working hard with people on the ground to get the Escala processing started. Not much the investor can do here except wait for tangible results to move the stock. Anyone have a calculator to see how many years they projuect the reserves to be?