watching
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With 12 Mil shares at expensive rates, I have a vested interest with all of you in its success and just share what I know. I started my Public Accounting firm at ground zero and made it profitable without buying another person's accounts. Keeping one's eye on the goal and working through setbacks was key for me and I see that in Mr. Petty. Sure, he knows oil and gas in SA and seems to have placed more resources there to the short change of focus on Escala, a mistake which I put in writing and verbally to him on several occasions. The attempt at better plants for 500+ tons/day is finally, though late, a smart move. Like 99% of the CEO's out there, Mr. Petty has acted in typical business fashion in saying only what he can legally back up. Goals are just that goals, and the fruit is just beginning to show on the trees. Quick buck artists are not happy here and say things without backing. Unhappy at present, sure I am. Yes, weeks to 3 months off for all the big items we look for. The financials will tell some important things. With 500+ mil trading, someone is pushing down hard to scare. At this price, I am staying put !!!!!!!!!!!!!!!!!!!!!!!
I agree with your assessment. Only that current mining as Escala covers operational expenses and the oil flow from Texas covers HQ world wide expenses from Autumn onward. Touch and go, little more dilution should be necessary, if at all. That has been their stated goal, albeit late in arriving. Blessings to all.
Most of prefer realism and as much honesty as we can get under the circumstances.
There are always downpayments on these things regardless of terms. BIll has been in SA long enough to avoid the con-men of SA or make it legal-strong when writing contracts. That part is good. Faulty merchandise is regrettable. He confirms that daily operations are funded. It is capital acquisitions that needs the big guy $.
I think he was on the level and quite excited about what is ahead. Sure, I was disappointed about the delay and told him so, nicely. (Don't bite the hand that...). Let's keep bugging Mr. Nichols at HQ. Mr Petty even offered me to get a copy of the Asian portable process plants, etc. I will call HQ tomorrow to ask. At least the communication is better than the silence and losses I have had from FDEG, SGGC, etc.
From the old HeeHaw TV Show:
Gloom, dispair and agony on me
Deep dark depression, excessive misery,
If it wern't for bad luck I'd have not luck at all
Gloom, dispair and agony on me
I was able to talk with Bill Petty in Bolivia (he called me) after my bugging his office. So, here goes what I was told...
1. Escala: They purchased successively two process plants (well used). Unfortunately, one was returned for legal reasons related to the former owner's bankruptcy. The second one blew a vital machine (motor?) and was returned in parts. They got their money back on both. However, in the second deal a smaller 10-20 ton/day process plant and is processing. Bill is somewhat embarassed about the small $ it generates with slowness/high cost of transportion and thus has withheld its formal PR. I encouraged him to get out a PR with production figures anyways. Maybe....
2. Since the above is not going, he is meeting tomorrow with rep's from China/Korea in Bolivia about 4 - 6 new portable plants and crushers to ramp up to Escala's potential to 500 ton/day as PR'd before. Financing seems available.
3. To truly develop Escala, he is courting up to 4 different investor groups currently to make Escala world class. We are talking tens of millions of $ just for this site. As one would expect, this will push us into 2009 to get, setup and start.
4. Financials for 2Q08 are about done and 3Q are 90% done. My guess is 10 days for the former and 3 weeks for the latter. They are necessary to support financing arrangements so the incentive is there.
5. Argentina GTL is close and the contract is in the hands of top government to complete/sign their side.
6. Texas oil sales will PR (SEC) when the sales are paid.
7. Mr Dunn's valuation report is progressing and (I hope) should be done by early December. Mr. Dunn has been kept busy with Escala plans and GTL so this was delayed. I have already cried over this one too to spare you the tears.
8. I pushed back where I could. Bash if you will. Instead, let's go fishing!
President Petty owes me a call (from Bolivia, now) for the last week. He will not return until Thanksgiving now from Bolivia per HQ. When I speak with him directly, I will pass it along. Until then, I am not pleased with progress per the questions I asked about Escala. The oil produced from Texas appears to have been sold but not paid yet as there is a 45 day float... bummer. THE GTL scene was mum's the word for now.
I am going fishing.
I hope not at me as SPS already has a long face. Thanks for everything!
Hey BoS, time for you to all HQ!
Nothing new here. PWAC is worth something only if they can get it to market before someone else does, regardless of patents! Slower than molassas in cold January.
Is it possible or logical for MM's and relateds to make it appear the MacD crossed via phony volume? How can one tell the difference?
So, the SGGC PR is behind door 1, door #2 or door #3?
Thanks for the link, old buddy. Silver and zinc may be down now, but I will show you after Jan 20 2009 that even zinc has a future market upward. THe hint is in an old post here. A better week ahead for all.
I hope so! For any other reason is ...............
Wow! Rip Van Winkle comes out of his sleep... NIce to hear from someone. Yup, we all own the "sleeper" which will awaken In Jan 2009 I expect. Patience to us all.
So, I try to buy some more on the cheap!
Getting on track is noble. In this world situation, the deck is stacked against it IF you are alone. A wise man knows his limitations and asks for help, even from some smart cookies here. Have I not leaned on you from time to time for advice?
1.5 MM Shares @ .0029 average. Makes me hang my head in shame that I believed the PR's.
Surf, have you heard from him? He said he would return my calls, but has not. He said he would return my e-mails, but has not. I begged for an interim PR, but........... So what is there important to talk about when he IS contacted? Anyone want to buy me out at cost?
Slipped again! Per IR, there is to be no news of preliminary production in November. Just the rollout in (?) January 2009. How can one trust a company that has missed dates by 18 months? No synergy here.
Better favor next time! It really helps ones perspective to talk with them so thanks for trying!
Why not call? I got through today.
President's Letter -
Per Mr Nichols today: Mr. Petty is hopeful to put out a letter later this week (in answer to a peppermill of questions, etc.). Just FYI. No message one way or other about a PR.
What is your e-mail address?
Right on, Brother ! But please do not give away all the good investor wisdom to those who do not want it. It is possible that FMNJ is a good long term play but not without its rollercoaster trends. Our recent friend forgets that some of us have waited and suffered for years here. WE are the ones that kept a fire under management if one was needed.
True, but GTL is not the only play on the table. GBTA
Your specific PR refers to the purchase and installation of additional silver/other ore processing plants at Escala over the next year, even though the "news" may come as indicated in terms of timing. News about the Texas oil wells, Escala #1 plant operating cosistently/officially, a GTL signed formal final contract, etc. are expected any time, though news is somewhat delayed up until now. Beyond that, be patient and continue your own due diligence.
Thank you. How can they help up go up if they are already positioned in a ton of shares = need to SELL? I need educating.
I agree and hope to hear from Mr. P on my smoking fax gun by early next week. Gold will take off more than it should except Washington DC & Company have helped it down and then guaranteed its stellar climb big time. The electricity is and has been back on at Escala. The plant there (100 ton/day) is put together and going through employee training. But BoS, again I ask: even if we had stellar news today, would not the shorters/manipulators/MM's crush it until some bankroll finds FMNJ? Few of us have any $ to help it along. Comment?
I have been pressing Mr. Petty pretty hard lately. The REAL question is: Will the MM's/bashers/shorters be caught off guard thus to loosen their grip enough to let this happen? Opinion?
I pray you are correct. Thanks for being there!
So, at what point in the news (revenue, production, whatever?) can the market change the direction or MM's see a green profit lite to change things?
We wish we had more to give... temporarily there is no other place to go for info. Until pinks and OTC are held accountable to reporting the same as NASDAQ, etc. This will happen again and again. And is serves no one to be silent - no us, not the company, not vendors, not shareholders and ultimately not the President either. We are not talking about trade secrets here. Much of this is based on the false tradition in business that it is okay to be invisible because one is in the driver's seat (should be the servant's seat). Unfortunately, this attitude is pervasive in the world of business everywhere. Look at Fannie Mae's attempt to block improved regulatory oversight in 2005 lately in the news that was to their ultimate benefit. Oops, got carried away.
What stealth action does it take then? Hey, if Fannie Mae can do it..........
You mean tough guy. Get rid of the chaff.... unless you are the chaff on the losing end. Again, can you contact VERT and say "let's go"?
I hope my ranting helps! Mr. Nice Guy has not been effective so far..........There is no good reason for constantly delaying the valuation by taking more samples every month. That just indicates poor planning or worse.
sps
Read my past posts on this subject. I have told it several times. Someone want to speak to VERT? I just sent off a scathing fax to HQ!
Thanks, I will !
So............... no reponse to my 16330? Any else want to correct, deny, talked with BC (BeforeCrash), etc.? This is not the ethical nor Christian way to run a business. My Certified Account code of ethics says I must convey timely information, whether good or bad... or else! So...............
where can I get the stock certificates for wallpaper?
I think they will/must eventually break the logjam of info. I sure harrassed them enough !! To me, communication of significant events is not just an ethical question but borders on the timeliness issue required by the SEC. However, the SEC has worse problems than FMNJ right now... and they/Feds caused it but have not addressed it yet.
sps