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Merry Christmas AMA!
I'm back after a long sabbatical and ready to jump into playing pennies again.
Figured I'd stop by and say hello to one of the best and smartest investors on iHub.
Cheers AMA and hope you're doing well:)
Looks like they pumped and dumped.
At that price, that puts the market cap of this pile of chit at $22.5 million dollars....no way that'll happen.
Any hopes to recover everything invested here are gone. The best outcome is recovering a fraction and writing the difference off.
Imo
I agree. This use to trade very thin and now it's in a spiral. Sad.
Play for a bounce if you see it, otherwise be careful.
I'm sure it's coming at this rate.
This stock went from 0.006+ to 0.0008 in a matter of a few months and sinking fast. Do the math.
Oh well... Off to the next one I guess.
Cheers
That's nice. Battery and resisting an officer. Looks like he has other things on his mind than running this company.
He's a winner.
Looking good AMA!
Solid news and hoping for good action with IDGC :)
I might have to get more powder tomorrow after this news :)
I agree. Looking for a nice bounce this week. I'll be happy to play the bounces until news comes out.
It makes no diff...you'll always have someone to gripe about something. If he released a PR update with no specific details, then it'll be called fluff.
This debate is pointless...this is the pinks...look to make profit whenever you can and sell.
gltu :)
On the bid with IDGC...I think this will bouce next week.
Looking to get in IDGC tomorrow...looks like a good entry point.
Wow AMA!
I might have to jump into IDGC. I took a pretty big beating on MMTE. I don't have much to put in, but any profit is good i guess.
cheers :)
At the very least, I'm hoping to get some of my money out of this dead stock.
In case you missed it, the PR is from LEXG.
So now LEXG is dangling a carrot to MMTE shareholders?
Hi AMA!
I haven't been around ihub in ages and found some interesting info regarding MMTE today from a PR.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87424942
What do you think?
Hope you're doing well :)
Lets hope so adam! I'm not the first to post it on this board and I'm surprised the board isn't talking about it. I know it's just an LOI, but this is the best news we've had since ages ago.
Cheers :)
THIS IS IT!!!
Hopefully MMTE has been resurected form the dead. The numbers LEXG is looking to acquire is exactly MMTE's concessions. Keeping fingers crossed that I get my money out of this stock...even make a little too
From Lithium Exploration Group (LEXG) PR...
http://finance.yahoo.com/news/lithium-exploration-group-enters-loi-130000570.html
ABOUT "PROJECT CHILE"
"Project Chile" is comprised of 8,649 acres (3,500 hectares) in the southern section of the Salar de Maricunga, seven concessions for a total of 4,695 acres (1,900 hectares) in the Salar de Pujsa, and 2,471 acres (1,000 hectares) in the Salar del Laco for a total of just less than 16,000 acres throughout Chile.
From MMTE's website...
http://www.mammoth-energy.com/projects.php
Salar de Maricunga:
Acres: 8649 acres (3500 Hectares)
Concessions: 13
Location: Commune—Copiapo
The Salar is located approximately 230km from the international airport of Caldera, and approximately 250km from the mining port of Chañaral. All these facilities are connected to the Salar by paved roads that can be used throughout the year.
The Salar de Maricunga is the second largest basin in Region III and has a basin area of 3,045 km2. This basin is characterized by significant morphological, climatic and geological variations, which normally occurs with major river basins.
During the 1980's, the "Comite de Sales Mixtas" CORFO (State Agency of the Republic of Chile) carried out a study in order to determine the potential in inorganic salts of commercial interest of the Salars. After performing a sampling and chemical analysis program, CORFO the following mineral resource at the Salar de Maricunga:
224,300 tonnes of Li; or
600,000 tonnes of Recoverable Li2CO3 (utilizing a 50% recovery factor); or
30,000 tonnes per year of Lithium Carbonate for 20 years
3,274,000 tonnes of KCl (potash); or
2,300,000 tonnes of KCl (utilizing a 70% recovery factor); or
115,000 tonnes per year of KCl for 20 years or 96% or Alfredo Requirements
Salar del Laco:
Acres: 2471 acres (1000 Hectares)
Concessions: 6
Location: Commune—San Pedro de Atacama
The Salar de laco is approximately 10 miles from the border of Argentina and approximately fifty miles away from the Salar de Atacama, Chile’s largest mined lithium reserve. The Salar de laco has similar geology to the Salar de Atacama where lithium concentrations average between 500 to 750 ppm lithium
Salar de Pujsa:
Acres: 4695 acres (1900 Hectares)
Concessions: 7
Location: Commune—San Pedro de Atacama
The Salar de Pujsa is located in the north east corner of Chile, close to the borders of both Boliva and Argentina, approximately thirty-five miles away from the Salar de Atacama, Chile’s largest mined lithium reserve.
The Salar de Pujsa has similar geology to the Salar de Atacama where lithium concentrations average between 500 to 750 ppm lithium and 9000-10000 ppm for potassium and is the largest lithium brine mined in the world.
Problem is, no one knows what WL is doing or trying to do.
His only plan is trying to "increase shareholder value". I respect your opinions RR, but the lack of communication is definitely a bad sign.
Rocky... Can you share some detail on what WL said that convinced you? Did he give you any insight on strategy going forward?
Many thanks
Hey...at least he had a nice time with our money...
I agree rocky...
If there is anything positive surrounding this RS, then it would be mentioned ahead, or at least, with this RS announcement.
But he doesn't have squat...imo
What happened to the July announcement of a JV? He never gave us an update on that or anything for that matter.
After years of the run around of saying stuff like "very soon" and "stay tuned", he slammed us with an RS and has the nerve to say this will increase shareholder value???
If he can explain to us how it's going to increase shareholder value for the longs when he's doing an RS and suggests that he's going to dilute with a PR that states "following the split, the Company intends to be able to rapidly move forward toward increasing its lithium assets"I'd love to hear it.
Bottom line, WL is a liar and has no respect for his shareholders.
I wouldn't be pissed off or very concerned if an RS is coupled with something good where a SS restructuring would be beneficial or required...like a merger or JV.
Here's the problem. This CEO is a liar and has dodged his shareholders for a very long time. If you read the PR, you don't get the impression or tone that the RS is going to be for a good reason, or that it's for a valid reason other than to RS because the stock is in the pits and he need to rinse and repeat. It states...
"Following the split, the Company intends to be able to rapidly move forward toward increasing its lithium assets since pricing per acreage comparable to MMTE has increased substantially over the last three years."
He's been saying this crap for 2 years now. It doesn't indicate or project anything positive. When he says "to rapidly move forward toward increasing its lithium assets", how do you think a company that doesn't generate any revenue is suppose to achieve this?
One answer...DILUTION...
So not only is he going to reduce the value of each share by a small fraction of what it is now, he's going to reduce it's value even more when he dilutes to "acquire more concessions".
Don't get me wrong, I'm hoping for the best, but I have VERY low expectations of anything positive happening here...
Thanks for sharing
When is it from?
Not sure I follow rocky. Are you saying they buy up the 0001's, then RS the stock to prepare for a merger?
I just hope I can get at least get half my money out of this...
Him being a liar would be one explanation.
Thanks rocky... Are you saying if nothing comes out of MMTE by mid January, then the company goes bust?
Hi rocky, you're still confident in MMTE?
I hope so rocky...it's been a long wait...cheers :)
At this point, I agree :)
I just hope MMTE benefits the most...
It's ridiculous AMA. I'm trying to remain optimistic, but it's painful to watch...
There's a shock. The silence is doing wonders...
Cheers :)
Hi rocky, are you losing faith?
Don't blame you Lumberg. I've been here for 2.5 years with 75M+ shares and frankly I'm sick and tired. Longs deserve to be treated better than this and I'd be lying if I said this hasn't eroded my confidence in this company.
I'm still optimistic, but very unhappy. Good luck to you :)
Thanks bigstocks :) There's so much perpetual "very soon" I can take...been holding for 2.5 years. an update is over due...
Thanks for your opinion...