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Bulls and bears are trading blows right now.
Let's just keep this up for the best of the week.
The problem is, if they fill their stores nationwide and it doesn't work out, that would put a nail in MRIBs coffin. That's not a position Costco likes being in.
The unfortunate truth.
They're confident that the news and developments over the next month are going to make for a more favorable market.
It's my opinion, right now, that a more favorable market is something they need. They are focusing on putting together a more complete and well thought out business plan moving forward and they plan on communicating that plan to investors. If the plan is something to get excited about, they will get their more favorable market. What needs to happen, however, is the security of more favorable financing. That security will have more impact on the market than anything else.
It's a little bit of a circular problem. They've certainly done a lot of damage to our value here over the recent 6 months. Things are looking up though. Despite being hit with some of the biggest dilution we've seen over the last couple weeks, the PPS has been relatively flat.
You don't get Costco expansions until they can build a bigger distribution network. Costco does not like to be in the position of accounting for so much of a company's revenue that they would bankrupt them if the pulled it off the shelf.
Costco distribution will grow with the company.
I'm under the impression that there is a lot more news coming.
It's the OTC and anything can happen.
I've been told that the news throughout July is expected to make for a more favorable market.
I'll post the context of that statement this weekend. I have no hard details, but I will tell you there is a very consistent message being communicated that more and more feels like it is very well thought out and on the brink of being executed.
They're re-evaluating the location. I thought the good doctor said it was a combination of potentially easier permitting and access to a better crew.
It's hard to predict what a market is going to do one day to the next. Today doesn't have anything to do with the rest of the year.
It's been my, albeit limited, experience that stocks rarely move when you want or expect them to. It's a long run faith that the current PPS is a good buy that has kept me here and has kept me adding shares.
The plans, from what I understand, in the mid-term are to have multiple properties producing ore, including additional properties beyond even those acquired today. All the properties are in about a 200 mile area in Nevada.
Jimmy has advised me that his plan does not to stop at one mill.
Obviously, getting the first mill is a critical first step before we can get excited about the future, but I'd like to point out that the upside potential of the company is a lot bigger than it was last year. There's a lot to be excited about.
There should be a trickle of good news coming throughout the month of July, as July and August seem to be very pivotal months for the company.
The market won't ignore progress and good news forever.
8k out
Got ya.
I'm just trying to mend bridges here.
Those that are/were frustrated and feel/felt scammed will all come home to roost when we pop the top off this thing!
I welcome skepticism in hard times. It's important to keep things in check sometimes. I'm glad that some of their worst fears seem less and less likely everyday. Quite honestly, I'm sure the negative comments of some of the more well respected and invested members here had a lot to do with the company's renewed commitment to transparency.
http://www.investorcalendar.com/IC/CEPage.asp?ID=172905. #sthash.k3phlSjh.dpuf
And by the way, I think I called the G8MI thing. And it's not in their interest to dilute the hell out of this company.
Preferred shares going to G8MI for the other 19% of Group8, which gives us 50% (instead of 40.5%) ownership of Stockpile Reserves (who owns the rights to Fencemaker) and 50% ownership of Central Nevada Processing Co (who I assume the mill will be through).
He said "3" companies and other properties, so there might be another company other than Group8 involved in this, something else that G8MI owns.
Connecting dots...
Don said:
"That will give us some stability in the control situation of the corporation."
Jimmy told me in an email a couple weeks ago:
"Let me say that via G8MI, FLPC got a global network, equipment suppliers, product buyers, strategic investors and credit but FLPC can't use them today as it is set up and I will not get them involved until the company is more stable."
Jimmy is the president of G8MI, if I'm not mistaken.
How can G8MI help stop dilution? Well, there is this from the 10Q's:
"On June 12, 2012, the Company entered into a loan agreement with Sanning Management, Ltd., wherein Sanning Management agrees to loan a sum of $119,000 to the Company with interest at the rate of eight percent (8%) per annum, until the maturity date of June 12, 2014. As of January 31, 2014, the Company has a note payable to Sanning Management of $99,025 and accrued interest of $12,979. Sanning Management is the 100% owner of Group8 Mining Innovations, which Group8 Mining Innovations was the 100% owner of Group8 Mineral prior to the acquisition and is currently the 19% owner post-acquisition."
And this: http://www.irdirect.net/pr/release/id/250362
Those are certainly more favorable lending terms (and non dilutive) than what we have now.
It was silver, if I remember correctly.
Great stuff IMO.
I think it's clear that Dr. Johnston was a very valuable person to have on the call and will be extremely valuable to FLPC moving forward.
That's precisely his theory.
Nobody knows what is going to happen here, and T-Man is certainly entitled to his opinion.
Some others here, myself included, will refute his opinions. Perhaps this thing was over hyped last year? It settled into a solid 0.025-0.035 range for a while until it became apparent that things weren't moving forward as planned. Their plan simply didn't work and that was the risk the whole time. Had the plan worked out, we wouldn't be here right now, but we are.
You can think it's a scam if you want, but not all bad investments are scams. They f'd up and we are not the only ones that are angry about it. Jimmy has repeatedly voiced his dissatisfaction with management to me and there is going to be management and BOD changes coming down the road. It's clear as day to me who is on the way out and who is on the way in.
There's been quite a lot of 8k's recently, all of them point in the direction of a company that is regrouping and committed to moving forward with an different and better strategy.
All in my opinion.
Don is on the call because he is the CEO, plain and simple. He will be able to speak on all points of the company.
Dr. Johnston is more than qualified to be on the call. As I understand it, he has the most knowledge of the geology of the mines and the area as well as the opportunities in the area.
Bob's role is a little unclear to me right now and, of the four people you would expect to be on the call, he would be among the least valuable to have on the call at this point.
Jimmy is a wild card, but I assure you that he will have input into the answers that are going to be provided. Don and Dr. Johnston are likely the most well spoken and will give the best presentation.
Also, it's an opportunity for the share holders to meet Dr. Johnston. We've already heard from Jimmy and will continue to, we don't have any take on Dr. Johnston. My suspicion is that he is much more critical to this operation than we think.
4pm EDT is 4pm NYC time. Immediately following the bell.
Think this will work on a smart phone?
Well, I guess that is the essence of where I was going.
They do pay cashless, but not usually a fixed number of shares.
If Murdock was ripping us off, I doubt they would be charging us what will be about $2200 this month.
So, our interests are aligned?
Seems like a weird compensation deal, but it ties their compensation to company performance.
Murdock is certainly something that is being discussed within the company.
On another note, this is the best look at a bottom/reversal that we have seen in a long time. if we have to just keep churning at these levels for awhile, so be it. It will give me more time to raise some powder.
I'm glad you finally have company ;)
You're the only O.G. though.
From other correspondence, it does seem like there could possibly be some sort of more immediate sources of revenue, but I am completely speculating.
Also, it's my impression that the website changes will have something to do with his plan to issue more regular updates and reports for the sake of clarity, but again, I'm speculating.
As far as the 3d images go, I would assume it has to do with coming up with a proper strategy for how to attack the deposits rather than just closing their eyes and shooting. I would imagine that they would still be able to pull ore out of their existing entrance while all that is going on, but again, I'm speculating. Others here are more qualified to comment on this one.
Some more correspondence with Jimmy. I sent him an email last night in reaction to a little frustration as a result of the underwhelming 10Q. He got back to me this morning. Below is some good information, but again, talk is cheap. We need follow through on some of this stuff.
I choose to summarize, quoting some key points. Below is a pretty comprehensive summary.
Again, no details, but this is the kind of news we can expect:
Management changes
Website changes
News method changes
Fencemaker progress
Mill processing situation
Arabia situation
Other properties
Immediate actions, changes, sources of funds, short and immediate sources of revenue, sales registration.
From what I understand, the situation with Fencemaker is that it needs some tweaking. Their plan was to take their drill tests and 43-101 report and to start blasting and hope for the best, but "it simply didn't work."
Jimmy has taken over this operation and is reviewing the whole mountain range, "This takes time and far more money but we will have a 3D print of the area which might increase or reconfirm the same deposits. We are hoping for more." He goes on to say that if the results are positive, then he will be redesigning the whole operation including the upgrading process.
He points out that this all takes time, people, and money, but,
"G8MI and my extended network as well as myself can assist and fund and bring in people and equipment to get it done. FLPC doesn't need to raise all the money but it needs to raise some."
Jimmy is taking over and clarity is his goal once they get out of this transition period. He expects to take over the news flow and the type of information being disclosed. Let me stress that the guy seems to be a pretty straight shooter, good or bad. He is also aware of investors' concerns, "The company is being hammered and correctly so for sins of the past as well as a huge convertible debentures dump as well as they didn't deliver any revenue."
He plans of fixing things within the month of July.
Lol. We've been hijacked.
Not every bad investment is a scam, bro. There's a reason it's a penny stock, because plans and outcomes are far from certain. Is RadioShack a scam, too? Down 95% over 4 years, sure sounds like it based on your criteria.
Their plan didn't work, and given that, I don't think it's a surprise to any of us that it is down this low, especially with all the dilution.
You really don't know jack sh*t about the company, either. You're speculating just as much as any of us.
See you this fall.
They're walking into a buzz saw Thursday, no doubt. But, I hope they are going to use the opportunity to announce some big changes.
Again, they are well aware of the concerns investors have. They're making a mistake if they are going into this webinar empty handed. I'm looking for information regarding the status of all of their properties, alternative streams of revenue between now and mill time, non-toxic financing, and their ongoing relationship with Murdock.
It's peculiar that Bob is not involved either... Hmmmmm.
Three's a crowd I guess?
My understanding is that Dr. Johnston is much more involved in the company than may be immediately obvious, especially with respect to his local knowledge and relationships throughout Nevada.
I really don't know how the 10Q triggered this kind of reaction. Were you expecting them to tell us they were just kidding about all the problems they faced in the last 6 months?
This 10q represents a period of time in the company when we knew pretty much nothing but negative things happened. I'm not sure what you were expecting.
Didn't look at this too closely, but seems pretty uneventful.
I'll review tonight.
Quickly looking at the numbers, I'm at around $15-17M worth of inventory if we can max out the 36k MT per year from Fencemaker, never mind Arabia. Great potential to be highly lucrative in the future.
I expect an end of day release. Who really knows, though. Lots of reading tonight, hopefully.
There is a lot to look forward to as some have pointed out. Lots of information flowing right now, but as ddm said, we need follow through from the company and until then we need to take everything with a grain of salt.
I will tell you all, and some here may be able/willing to vouch for me, but I have been in direct communication with Jimmy. I presented him with a list of things that investors would like to see addressed and this list was based on feedback from the boards here, as well as from discussions with people off the boards including people not on Ihub. As I understand it, Jimmy, Don, and Dr. Johnston have discussed my feedback as well as the feedback they have received from other investors. It is important to note that Jimmy reached out to me for feedback in response to a series of somewhat direct and critical emails I wrote Bob and Murdock over the last month or so.
He hasn't offered me very many details other than to say that there is a lot of changes coming. He has stressed quite a bit in the last few correspondences I have had with him the importance of the connections and relationships they have been able to build locally in Nevada and the value that Dr. Johnston has brought in that regard. He has also suggested that, through G8MI, FLPC has access to a global network, equipment suppliers, product buyers, strategic investors, and credit, but he can't get the company involved until they are more stable, which is why they are in the process of turning the company upside down and executing a new, long term plan and strategy.
One thing that is extremely encouraging to me is that they are confident that the stock issues will work themselves out and that they do not have any plans for further dilution, "for sure." This is a bit difficult for me to believe, personally. We will see how that one plays out, but that alone will change the trajectory of the pps which will in turn attract a lot of eyes, especially coupled with progress and clarity moving forward.
It seems their competitive advantage is the access to the technology they have. Note that in Jimmy's profile, he was
"instrumental in founding an innovative mining and mill process development company." I believe that they have access to that technology through G8MI, in my opinion. It is something he has told me that no other small/medium sized mining company has.
Let's give them some time. If they show progress and prove that they can execute, I'm certain we will all rally around FLPC once more.
I really don't know what is going to happen, but I'm to believe that things are about to change. Here's to hoping they let us in on the new master plan and that is it something we will all get on board with.
IJWT (In Jimmy We Trust)
I concur.
Jimmy is the real deal and has a plan that is now going to be fully implemented and active beginning Monday. I haven't any details about it, but he expects the plan to span 8-9 months and it's focus is to recover the company and to take it to far different levels.
Based on some communications with him, he is very interested in understanding investor sentiment and addressing our concerns. He needs some time to get things on track, but most importantly, he needs investor support. I assure you that he is well aware of our concerns and is addressing them.