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.
HIGHLY UNLIKELY!
Lots of mines are "real", but most of those can't actually be brought into production for a profit. Now, maybe if SIRG does a couple more A/S increases followed by a couple R/S, they might be able to get it into production. I really doubt it though!
With the A/S increase and their history of TOXIC FINANCING, I don't know if it would be worth the risk even if it hits the trips. SIRG will just do a R/S once they run out of shares to dilute through toxic financing IMO!
Where exactly do they plan on getting the $1,200,000 to pay for the additional 10% of the mine?
The only way they will be able to pay for the additional 10% is through TOXIC FINANCING! Now that the A/S has been increased to 990M, they might actually have enough shares to acquire the $1.2M, but I doubt it. Lol...
A convertible note with a face value $37,500 was converted into 12,212,798 shares of common stock.
$37,500 / 12,212,798 = 0.00307pps
Asher can dilute all the way down to 0.0031 and still make money. There is no bid support for this kind of dilution.
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8914764
A/S INCREASE EFFECTIVE THE BEGINNING OF DECEMBER, 2013
1) an amendment to our Articles of Incorporation increasing the shares of authorized common stock, par value $0.001 per share, from
460,000,000 to 990,000,000, consisting of:
a. 970,000,000 shares of Class A common stock
b. 10,000,000 shares of Class B common stock, and
c. 10,000,000 shares of preferred stock.
The actions will not be effective until a date at least 20 days after the date on which this Information Statement has been mailed to stockholders. We anticipate that these actions will be effected on or about the close of business on December , 2012 (the “ Effective Date ”).
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8906973
If the merger happens, maybe GDSM can eventually cut ties with WSRA entirely.
The give it your best shot entries have been updated!
I saw that. I was just asking if it had been processed yet. I will try to call the transfer agent later today.
SIRG Security Details
Share Structure
Market Value1 $2,747,881 a/o Nov 12, 2012
Shares Outstanding 347,833,085 a/o Sep 20, 2012
Float Not Available
Authorized Shares 440,000,000 a/o Dec 31, 2011
Par Value No Par Value
http://www.otcmarkets.com/stock/SIRG/company-info
Has anyone called the transfer agent to confirm this? I haven't had a chance to call this week, but it was still 440M as of last week. The NV SOS still has the A/S as 440M.
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=Uk5bViH2qqz99jcGYeuYwg%253d%253d&nt7=0
All good things take time!
As will I!!!
I learned a long time ago to never assume anything in this market. Didn't someone say that they were currently reviewing applications for the jobs that will be available when/if the mine re-opens? That would show progress IMO.
Agreed!
Perhaps, WSRA will use their technology to proceed with the Silver Cord Mine, but I still fail to see the connection to GDSM. There is a huge difference between a "partnership" and using a companies technology through a licensing agreement. Plus, Western Gold Company just took majority shareholder control of EVXA.
Yes, the Gold Star connected with WSRA is located in Prescott, Arizona and the one associated with EVXA is located close to Goldfield, Nevada. They are located ~400 miles apart. Two different mines, and there is no connection IMO!
It looks like everything is lining up nicely for GDSM.
Wow, the SS of EVXA is hilarious! Lol...
If you look at the locations of the mines, they are around ~137 miles apart. Also, the Gold Star associated with WSRA and GDSM was last evaluated in 2005 by Jenkins, not 2010. I don't believe they are talking about the same claim.
http://mccoygoldmines.com/pdf/GoldStar-Technical-Summary.pdf
The give it your best shot entries have been updated. Some of the picks are looking good! MWIP & SKZW just to mention a couple!
Thanks for the clarification!
Did the company tell you that funding was in place after the permits were approved? If so, that is huge!
I won't have time to call today. That's why I'm asking.
Of course verification can't be provided! I see a lot of opinions being posted. No more, no less...
My opinion is that WSRA isn't using toxic financing. There chart clearly shows that.
Agreed!
I was merely giving an example of what happens when a company gets in deep with TOXIC financing. I don't believe that WSRA has/will get involved with a company such as Asher or Tanger. WSRA management seems to be smarter than that!
The small float is another point that makes me think that WSRA isn't utilizing toxic financing. Companies that use toxic financing tend to have to increase their A/S to keep enough shares on reserve for the toxic financiers. They sometimes have to double or triple their A/S, and soon after the A/S increase they have to complete a R/S just to stay afloat. I can see that happening with a few other stocks, but I really can't see it happening with WSRA.
IMO
When toxic financing is used, massive dilution typically occurs. The WSRA chart doesn't show dilution. It's highly unlikely that Asher is involved with their funding IMO!
Here's an excellent example of what happens when Asher or other toxic financing companies get involved. I can definitely think of one stock right off that had this happen.
I can't see WSRA using a TOXIC FINANCING company like Asher! All funding through Asher does is cause MASSIVE DILUTION! Asher dilutes without any concern for the pps. WSRA hasn't secured such shareholder unfriendly financing. That is apparent by the fact that massive dilution hasn't occurred.
IMO
There has been no filing for an A/S increase; thus, the A/S is currently still 750M. Without an increase in the A/S, substantial dilution simply cannot occur!
IMO
Just like you said it would!!!
I too am very happy that Asher isn't involved! Asher is notorious for causing stocks to go into a death spiral!
It's setting up nicely!
GDGI is looking good this morning!
It is highly unlikely that any company could go all the way into production using a financing company like Asher. Most of the notes SIRG has currently aren't through Asher anyways. I believe that for SIRG to go into production, they will have to find a better source of funding, if they haven't already.
JMHO
They still have the Aquifer Protection Permit to transfer, but it is in good hands, isn't it?
Sierra Resource Group, Inc. (OTCBB: SIRG) (the "Company" or "Sierra") announced today that on August 1, 2012 it awarded the transfer and modification of its existing Aquifer Protection Permit to CDM Smith (www.cdmsmith.com) a full service, consulting, engineering, construction, and operations company that guides clients across the project life cycle in water, environment, transportation, energy, and facilities.
I could post plenty of info on SIRG's current financing, but we all have seen that over and over again. Maybe they have secured permit contingent financing that is shareholder friendly, like many have suggested??? If that is the case, it shouldn't be that long until it's released. Only time will tell...
I was hoping for something new to sticky instead of what is already up there, but thanks for re-posting lmcat's previous post.
How long do you think it will take after the permits are approved to get the mine into production? What all improvements on site need to be made after permitting?
A broad post about the accomplishments made by SIRG and the events that still need to be completed prior to mining would be useful for many potential investors. Can anyone post that material?
If there's one thing that we all know about penny stocks, it's that NOTHING is ever guaranteed! Only time will tell if they are serious about uplisting. I believe that it is very possible! If it takes 6-9 months, I'll get to claim long term gains. I'm good with that!