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That approach is common...at bus stations, airports,
and by Liberals and Democrats! They want to save us from ourselves!
180 Oz Gold 50 D
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I agree. Execellent research and very good folks. This is truely a very educational, entertaining, and dynamic board. It is not short on surprises!
Yeah, I like it here too. I read the board quite a bit but pretty much sit on the sidelines wading through the deep stuff. I still have a lot a faith in SGCP. I like whats happening don't express it however.
Go for it b4atf. Bike Guy, he/(she) should do well.
Well put, Cork.
They're still drunk on the Obama Kool Aid. They have not yet awaken to what is next to them or yet experienced the hangover.
Go Fish ! !
Fish-You are absolutley right. No need for anything more than a FR until something materialy new to report.
True Crusader - I just wasn't sure where that .69 came from, current o/s or a/s?
Crusader, a couple of variables come into play now - more share dilution (O/S increased) and the price of gold has changed - up in fact. But you're on the right track!
Happy Holiday's to all!
Check out the ccx founding activity, Obama was a part of it!
If you look closely into the Chicago site you will find President Obama's fingerprints all over it.
Hank -
You have been previously advised - pay attention. Keep quiet and pay attention. Nothing else needs to be said.
There is no 'expectation' of news. There will be some news when the CC are realized. But this way we have no 'unmet expectations' anytime soon. Unmet expectations can be deflating.
I completely agree.
Thats less than I would have thought. Perhaps they attempting to reload as cheaply as possible.
The MM are trying to cover the butts. They know this thing is taking off and they need to recover their positions.
I think that 100 share sale validates it. Did it say how much?
That 100 share sale speaks volumes. This is clearly NOT dilution. This is a MM or several MM's assisting shorts sellers to get back in and save their butts.
Yes sir, it seems there are a few of us Jarheads on this board!
Happy Birthday Marines!
Semper Fi!
News - is like a hearbeat, good or bad, it shows a pulse.
Silence - is like a 'flat line', the patient is dead.
Now that wew have digressed on the definition, orgination, and use of T-Trades, I was merely seeking comments on where the high volume came from last week. Unsure if it was dilution or not? What was noticed was the high volume for the day, and no T-Trades.
Comments?
Unless that was dilution we saw the other day, my belief is we are still at around 540 MM (537 accoring to the web site and previous conversations with John.)
I'm struggling with that spike in volume this week however. It was mentioned on this board this week that in the past dilution was in the form of T-Trades. This activity was clearly different in it's pattern. And, it was done with many lower volume trades. Was that a MM repurchasing for his/her position? Was it a newcomer purchasing someone else's liquidation? Note the lack of pps increase.
Comments?
Well said Eye. I am one of those 'Longs' that have lived through it.
VF
Roberto, correct me if I'm wrong, but I did not participate in the last cc, aren't our monthly expenses still in the 40k/mo? If this is the case this thing is now profitable. Comments please.
Yes, it does. Given the current economic climate and the fact that SGCP is producing, multiple elements are properly alignng.
Welcome Orca!
Here are some notes and a comment based on my participation on the call. This was a very worth while effort.
• Gagged TA
o BoD not interested at this time of ungagging the TA due to the following:
The company is small and not geared up for the activity. When it was established it was not the intent to enable anyone to call to inquire – it was a pink – period.
This will change and in fact may not be necessary as they upgrade status with the SEC and begin filing Qtrly 10Ks’ – about to become a moot point.
• Communications
o They clearly understand the need to communicate to shareholders in more detail. Apparently this point was made clear during the previous CC.
o They have engaged a skill set on contract to improve this through future PR’s and FR’s. In fact John has asked to hear comments after the upcoming PR. I agreed to provide the feedback based on the quality and completeness of content
o Expect to see a new and improved PR within the week, possibly as early as before the end of this week.
• Paramount Chiefs
o This was an enlightening discussion and much time was spent on the necessity of the need to develop and maintain these relationships. Apparently, these individuals can ‘make or break’ ANYONE.
The SL Government defers to the ‘Paramount Chief’ (the is a reason for the descriptor ‘Paramount’) to enable or disable business relationships within their respective territories or regions or domains. It is of upmost importance to develop a solid working relationship with them.
o John took great pains to detail some of the history and how much confidence Doug has developed over the years he has been working there. This is clearly in our benefit – and more than likely an intangible asset. This is how Doug, on behalf of SGCP has been able to secure the leases and concessions that he has. He also indicated that these leases are 20 year leases and have been renewed each year to restart the 20 year clock.
o And yes, he developed relationships with not just the Chiefs but also their respective families.
o The lesson learned here was worth the price of the CC. This connected a lot of dots of how business is done in SL and the developed strength of SGCP.
• Production
o After developing an understanding of the how business is done in SL and then listening to the issues of production, or a lack thereof, things then begin to make more sense. After all, we are in SL, and we are bringing together many moving parts at the same time, or at least trying to, after a civil war. It appears that progress is being made and albeit not as fast as everyone had initially thought, IT IS going forward – and looks to be very promising.
o As was mentioned in an earlier post, production is taking place however we are only able to capture approximately 50% of the gold ore per the assay results. This is due to the equipment being used. We need equipment that can extract gold ore from small particulate (sand size and smaller) and our equipment is capable of only capturing at this time larger pieces, or small nuggets. However, the ore that is being excavated at this point is not going to waste. It is being stockpiled for re-processing at a later time when the new equipment is on-line. This is the equipment that was mentioned earlier requiring an expenditure of approximately $150,000. This will operate during the rainy season so as to keep production going during the rainy season. So, our days of dry spells during the rainy season are gone. Also, because the equipment that is currently online cannot keep up with the mining currently taking place, This equipment will also function during the rainy season and contribute. That is my take on the production issues for the gold.
o I was pleasantly surprised to learn of the diamonds being extracted. They are finding colored diamonds in an area known for them, Zimi. Apparently we are only scratching the surface here and have a few larger (3 – 5 Ct) colored diamonds already identified. If I recall they are either yellow, canary or both with green also. In addition, rubies have been extracted. There was also the mention of platinum on the properties as well. It is clear this is a very mineral rich group of properties in our inventory.
•SEC Filings
oShares
As Roberto mentioned earlier, John has his own shares that he has purchased plus an additional 9.5 million shares that are restricted.
If I recall, he did not know how many shares Doug had.
He mentioned also that he has loaned money to SGCP, approximately $100,000 and he is not taking a salary either.
They intend to file with the SEC in the June July time frame
They intend to provide audited financials in early May for 2008.
They are currently breaking even to maybe making a small profit
•My opinion
Given what we have here, a start up beyond ‘proof of concept’, I think the concept is proven – mining in SL and making money at it. And with improvements in production via technology – making a lot of money. Not having been in the mining business at all before this venture – but having raised money via the venture markets and having a company I gave birth to trade on the NASDQ, I have seen this movie, and bringing this to ‘production is a BIG DEAL. This takes it beyond ‘Proof of Concept’. It’s a very complicated but simple process, with a lot of moving parts. Patience is required as with any start up. A trust in Management is required as well. Given where we are with what they’ve got – and have had to work with, this company has a lot of potential and a very bright future ahead of it. Given Doug’s established relationships with the Paramount Chiefs, I think SGCP will not only be a positive investment for its shareholders but also withstand any political rough waters that may lie ahead. I encourage everyone to take part in the upcoming conference calls. John and I had a discussion regarding the utilization of an open conference call line widely used by many businesses offered by AT&T enabling an unlimited number of people to participate. He is very much in favor of this. The only issue then becomes answering all of the questions because you can only hear one or two people at a time on these things. So he is considering the use of emails of questions to him for answering them.
Great call Roberto, thank you for enabling me to participate. I will write a brief when I get a chance or respond also when I get a chance. As you know it went long, it was a Saturday and I have been busy catching up on other activities, given I just got back in country yesterday. I will put my thoughts together at the latest tomorrow or Monday as I have to fly to Los Angeles and will have some time on the plane.
Overall, I think everyone should know that this is not a scam and I believe our future is pretty bright. I am glad I have invested and will continue to support the efforts of management. I was very pleased with what I heard and look forward to further comminications, including the upcoming PR.
Roberto, this is GREAT news! I suggest that the cc participants rotate weekly on the avaialbe open slots. I would like to participate at times and I'm sure other board members as well. This would open the cc up to everyone in due time enabling a more diverse commentary on the board. Thoughts?
His declining to participate I believe put him in the permanant 'Ignore/Disregard' catagory.
Cork, Sorry for your loss. However it is good to have you back. I sit on the sidleines alot but enjoy your attention to the activities. Again, welcome back.
Roberto, thanks for your efforts and the update. I look forward to reading your response.
Conference call Discussion item - Roberto, see if you can confirm the investment banking effort. This may be what the new A/S shares will be used for. My thinking is that the new A/S will never see the light of day - or a trading floor for that matter.
Ok, back to my earlier comment regarding the reporting. If we are being told there is no dilution only to learn later that there is dilution, why should we think that the numbers being reported are in fact 'true'? I see a credibility issue developing here and some apparent 'denial' of same. Just some food for thought. I am trying hard not to loose confidence in management but...
As we think about the one and a half kg of production during December, is anyone thinking that there may be more that is not being reported? Do we know for sure that all that is being mined is being processed within our processors and then also being reported? What kind of controls are in place? Let's not forget this is a rather unstable environment.
KITCO has it published.
http://www.tmcnet.com/usubmit/2009/01/05/3888909.htm