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Do their sponges not exist or something? I'm curious to know what's going on here, could you please explain to me in detail what you believe the scam is?
Thanks,
Could you please support your argument with evidence? Your claims sound especially childish without reason.
There may be a perfectly reasonable explanation for why those results returned they way they did. It's called weighted sorting where aside blatantly sorting data you calculated weights to return search results of more 'significance' than others.
A result of 4.5 with 300 votes is far more 'reliable' than a result of 5.0 with 3 votes. Sorting algorithms are objectively science, but their implementations are an art. That's why NetFlix offered a $1 million dollar price for the best search/recommendation engine from university and private groups.
Depending on the exact nature of that application and a more close observation of its functionality, it could be argued what they've done is SUPERIOR to an elementary implementation of any type of sort.
It takes more than a degree to be even just GOOD at any field of science, so don't bother bragging about your background when making any kind of statement, it only makes you look worse when you speak carelessly.
What people do is indirectly correlated with a stock split, I demonstrated this fact in that very post. I am learning painfully why people in general are so mislead, inability to comprehend the differences between one concept and another.
The R/S in itself does not affect investors, that's a fact - I already demonstrated that to you. What does affect investors is public perceptions of these actions, which are irrelevant as it will correct over time (or you can exploit it for a better position).
What people think and how they react does not correlate to the reality of a change. To truly understand what's going on you need to able to read and understand the SEC filings. The ultimate reality here is SPNG's goal to be listed on NASDAQ which most people clearly do not appreciate the significants of in itself. This 10K mess is just a temporary set back, I already explained what was in those filings in a previous post - follow the reply path to the original thread and you can read it.
Elementary Lesson in Reverse Splits
Share Price = Market Cap / Outstanding Shares
--------------
---Begin
$100m Market Cap, 1B Outstanding Shares
Share Price = $0.1
Position: 1000 Shares = $100 *****
---Announcement, Execution
RS, 100:1
RS(1000) = 10
---Consequence
$100m Market Cap, 10m Outstanding Shares
Share Price = $10
Position: 10 Shares = $100 *****
--------------
--------------
The truth; there really is no difference in the stocks performance with any kind of split at all. The benefits of a split or reverse split is entirely internal to the company, and indirectly significant by exploiting the novice traders lack of education on the subject, so general perception.
Ultimately, $0.1 -> $1 is the exact same performance as $1 -> $10.
Splits and Reverse Splits are proportionately intact adjustments of the share structure.
They in of themselves really mean nothing, the only reason any of you think it does is because you don't know what the hell you're doing.
Exploiting the uneducated masses is an easy way to make good pockets of change here and there. Every now and then it's legitimate though, in this case SPNG has clear desire to be on the NASDAQ market. NASDAQ's rules basically act to normalize the companies it tracks in to a format that can more clearly and intuitively be understood for benchmarking performance, etc. The reason for many things being the way they are is not for what most of you think.
Fools.
SPNG filed an incomplete 10-K citing unforeseen consequences have prevented them from filing the full 10-K. Subsequent 8K's exclaim the errors of their accounting firm and the consequential resignation of that firm from their services.
It's quite clear, and obvious, in the SEC filings that SPNG is a victim of a stupid ass firm which lost its registration by the PCAOB for violating auditing sanctions.
This reaction from the market is completely insane, in every possibly way.
An aside, you are mostly all obviously ignorant of the R/S consequences - if you had even the slightest ability with mathematics you would have proven to yourselves the value of your positions will remain intact, outside of trader/investor actions.
Well, all of this considered, it leaves a few people with the balls to bet on objective truths the possibly to make some good money. The only thing to really question is how long before recovery occurs, either way I do without a doubt expect the share price to rebound nicely ... just my opinion, and a matter of time.
One of those people would be me, lol, ditched the moment 0.0095 hit, in a moment of shock and disbelief I looked over at level two, 80% of the MM's were on 0.005 instead of 0.01.
Just like that.
Now they're all loosely spread out between 0.001 and 0.0085, that's too much risk for my taste, I have no problem staying out and dipping in every now and then for cheaper and cheaper shares.
I won't make any big purchases here anymore until production begins, and if it's delayed from 1Q 2010 then I'm out and I'll just observe from a distance in case something ever actually happens.
L2, 0.005 support, plenty of bids, all MM's except three are 0.005 and below. Damn.
The strong 0.01 support just disappeared in a single day.
It's below what I'm willing to hold, I'll buy back at a more opportune level in the future after I see some confirmations/confidence in the buying power here.
I thought GSPG should have had a two year chart that looks like SRSR, sorry to see that's not the case.
We won't enter production until 1Q-2Q 2010, so I'll just keep an eye out, I'm not willing to lose anymore value than this.
If it does hit 0.005 at least I can buy back for half or double up. :p
There's a lot of great stuff out there, plenty of places to make up for some losses until GSPG turns around for the long run.
Good luck!
Is it just me or is Gold taking all of the time in the universe to break $1k?
Sigh, longgggggggggggggg ppattieeeeeennnnnnnnnnnnnnnnnT waiting game.
Sorta like walking away from the slowest explosion ever, ... ever.
GoldSpring... just chillin down at 1 cent, word. That's how the pimps do it.
/starts-pouring-whiskey
The estimate the CEO has given, based on the time on average it takes to acquire the necessary permit upgrade and to complete the installation of the milling equipment, is to be in production by 2Q 2010. Which you would know if you actually did read all of the PR's.
Did you guys think that mining companies just... pop out of no where like tech companies?
You do realize that it usually takes up to ten years, or even more, to get all of the necessary permits to actually mine - bare in mind what GoldSpring is doing is upgrading a single permit. Sheesh, some of you are a little harsh blaming the world for all of your problems while simultaneously acting in this market with absolute ignorance. People actually wonder why internet forums are full of garbage?
If you can't handle waiting around for real-world processes to complete then you will find yourself b-tching and moaning a lot more before GoldSpring 'gets anywhere.'
They've been in the RedChip conferences that another stock I follow attended. The first I heard of them came from that conference in San Fransisco around June in 08 and they were around $0.6-$0.8
This isn't the only company at the RedChip conferences that has been doing well, you guys would do yourselves well to keep track of the handful of companies who present themselves there.
Yup! GoldSpring should up their marketing campaign to build a stronger market of traders and investors to help put a lot more demand here. If we had a lot more competition stirring here we would see a lot more price action. With this little volume I'm not at all surprised to see an average fluctuation of +/- 2%.
When GoldSpring has it's scoping report out I hope they budget for some damn good PR and a better writer, and if they do any more public stunts they really need to consider hiring a guy to speak for them.
When things get rolling and they can *afford to change things I'm pretty certain we'll see some crazy movements.
Take a look at what ZAGG's marketing campaign has done for them once they kicked off. I watched them hovering around $0.84 and about a month after a heavy marketing they soared up and through $3... and now $5!
You guys see the first comment on the forbes article?
"It sounds like a scheme to make money, probably fake..."
Lol, a scheme to make money? Oh, I know! Like... a business?!
$50m market cap and no revenue stream - the market has actually been quite generous. GoldSpring has a long road ahead of it, just wait and see how things play out.
This stock has had *a lot of attention over the last few years over the internet as well, I'm sure quite a lot of people have already made their moves and are waiting for bigger fish to move in.
17 employees-
Explain to me what you believe they did not deliver that you think they promised. Like I said, read this more closely;
http://finance.yahoo.com/news/GoldSpring-Announces-prnews-15117859.html?.v=1
"...will announce its **Mineable Gold and Silver Reserve /inventory/** contained in its Scoping Report..."
They did in fact release the Gold and Silver Reserve inventory, which will obviously be in the Scoping report. I'm sure we'll get the Scoping report when they're done with it.
You feel let down that we went from 510,000 oz Au resource to 564,000 oz Au recoverable and 870,000 oz Au resource?
1.4m oz Au, and that's not even to mention the silver.
Impatient idiots deserve what they get, no balls... no glory.
I'm not going to castrate a company for making significant strides in improvement. Seeing that the permit upgrade and mill installation will take some months there's no rush, they have some time to get a complete IG7 scoping report out.
Most of you didn't even pay attention anyway, GoldSpring delivered precisely what they promised, don't believe me? Read previous PR's again, more closely...
A fool and their money are soon parted.
If you have no choice but to trust strangers then you have to just trust us when we say this company will probably make for a great long term investment.
But of course you should have learned by now that everyone would say that about 'their favorite investment' ... hmm?
If you truly care about not losing money I suggest you suck it up and go sit down at a library or search google on topics relating to business, markets, economics and sociology.
Image if you yourself could determine on your own whether a company was worth your money, you'd probably stop losing money, as would most people. You're probably thinking it's a lot of effort and work, but so what? Do you ask other people to buy your cloths too?
If you think what I've said is offensive, good, don't bother telling me I'm a jerk I already know.
... lol, they really were defending it.
0.01 might make people uncomfortable but it's reassuring to see that GoldSpring has *some kind of support which seems pretty strong. Of course we would all like that kind of support at higher levels... I guess you have to take what you can get. :]
The buying power here is just pebbles, it will fall back to 0.01 -
For two weeks now 7 to 9 market makers have sat on the bid at 0.01, why?
It seems that the market believes GSPG should not have the share price fall below 0.01
Any comments on this observation?
How often have any of you seen MM's stack stubbornly like this?
Most of you are stuck in this stock, and you won't figure it out until you try to sell.
Idiots who can't do elementary arithmetic, you've fallen for the illusion, the oasis you saw at the horizon of a desert was just a mirage.
Look at the volume, do the math - if you know how.
There's so many orders on the BID @ 0.01 that I'm thinking it's the motivating force behind the fall. Since people refuse to buy at a higher price - the market speaks, this is what it thinks GSPG is worth right now.
Not even the large, momentary, dip during the 0.06 fall (0.04->0.01) could reach below 0.01.
It's my suspicion that the market is giving GSPG a true floor.
The good news is, this may the basis by which to determine the true growth of the stock. Look for the next lows that refuse to break when the Reserve Report is out *or they enter production.
It's my suspicion we won't see lower prices - this assumption is based (as I said above) on the MM's stacking 0.01 precisely. Yesterday I saw eight of them on 0.01, never less than seven - two more were just a hair over painting all the 0.011 - 0.0105 marks.
My opinion is sourced by the MM's very actions.
otcbb.com gives you a lagged Level II if you wish to see for yourself. (Search for GSPG, select the "Depth/LII" tab.)
As of this post 0.01 is still stacked, this indicates the buying force at *that price is strong.
Though, I'm still learning how to interpret LII so I could be wrong. I guess the market in concert could change its mind about 0.01, they haven't as long as I've been watching though.
Speculation, speculation, speculation.
There's a whole lot of MM's sitting on the bid for 0.01 ;]
That chart can not predict the future.
... most of the time I am, I enjoy my scotch.
http://data.cnbc.com/quotes/GSPG/tab/8
Faber has an inside position. You're complaining about $80k worth of sells when there's over $25m of insider position in total?
:] Really?.
I sound like what? I regurgitate information without bias based on information that exists in any credible source. Desperate? I won't be buying GSPG until I can confirm their ability - I'm not dumb enough to cheat myself out of a deal though, clearly unlike you.
GSPG will prove failure by failing or they will prove success by succeeding. There is no conclusion you are able to draw until the appropriate events have occurred.
They have admitted to, and addressed frequently, their inability to process high grade ore, that is the reason for the delay. It is not new information. It's not because they found high grade ore, it's because of the milling permits so they *can deal with the high grade ore.
You are not a credible source of information, the information in the videos are perfectly valid today still. You clearly cannot support your notions or beliefs with citation.
How long any of you have invested here is irrelevant to the pure objective data which exists.
Only information, reason and logic is relevant in making decisions, the amount of time you spend sitting around a company makes no inference on the amount of knowledge you have of that company.
There is in actuality no delay, there was never a true time period stated that any of you can prove for entering production. You just want to believe there is, it lets you blame someone else for what you feel is a failure of your decisions.
The permit upgrades are reasonable and understandable, and in compliance with law. There's nothing unexpected occurring except to those who would refuse to pay attention.
I would purchase shares of GSPG after their permits are in place, when they validate their claims with a revenue stream. There is no other test for determining the ability to achieve their potential.
This is not so much against anyone in particular, people just clearly don't do their research then mislead others. Reliable sources of information need to be shoved in to people's attention eventually to begin detouring the effort of a few who would run smear campaigns for what ever reason.
I see long lines of people one after the next blaming others for their errors, for the performance of the stock demonstrating no practical knowledge of the market system, blaming the company for being fraud demonstrating lack of knowledge for real world business (despite all the evidence which exists), etc, etc.
For all the negative crap out there, I'm just trying to put the information in to some perspective and understand it within the appropriate context.
Video Footage of GSPG, Properties and Staff
http://www.youtube.com/user/Scheqky
The reason why production hasn't started - and the capacity of their equipment. The knowledge is there, you just refuse to find it, to understand it.
Considering that they now have a facility which has been upgraded, you're complaining *now? You know GSPG has been able to run the leech pad since 06.
I guess you would rather them start mining at random, without coordination or understanding of their direction.
GoldSpring has ten employees dedicated to performing a single task, go in to production in compliance with U.S. and Canadian laws. Actually, the U.S. requirements, as noted in RedChip, are far more stringent than the NI 43-101.
I wouldn't be surprised if the permits were completed before they even finished the formal reserve reports and what ever else is required of them.
What seems like a lot to you is normal to the industry, this is only the beginning, they are NOT trying to reach the moon yet.
The market chooses who to invest in, and why, and how much, GSPG is doing what the other exploration and mining companies do. If the market singles them out for what ever reason, then oh well - that's the nature of this.
Also, consider that GSPG is actually quite competative at a market cap of $50 million. They're in the top 180 of Gold & Silver companies on Scottrade's Research pages.
If you actually pay attention to the numbers, GSPG is quite competitive and up considerably compared to other Gold Co's, even if you can point some which are outperforming GSPG do you really expect GSPG to be #1 in the industry right now? (Remember, financiers talk in percentages, numbers are all relative as you'll understand in the next statement.)
Seems most people only comprehend static share price, how many of you actually understand the relationship SP = MC / OS ?
Everything is relative, and yet you so strictly judge them by what? relative short term movements of the PPS? They just gave people a 600% run working with $200k+ volume a few months back. The bottom of the fall back still left us in better performance in percentage relative to half the Gold co's out there.
The reality of the situation is a world away from what most people clearly believe, the relationships between all the variables being so... critically analyzed but so vaguely understood.
It's profound to me that people are so arrogant to lecture GSPG on what they should and should not be doing. By my understand they are compliant with SEC law, they are *developing NI 43-101 report which will be released when they are finished. The PR on assay results is NI 43-101 Resource Report material.
GSPG has clearly stated that they are required to complete an NI 43-101 RESERVE report to formally design and initiate the mining project. They have NEVER stated a certain release date for EITHER of these events, projects, papers. They have been forced in to making rough estimates, WHILE WARNING PEOPLE THAT THEY WERE ROUGH ESTIMATES which should not be taken to heart..
This is the nature of their work, they have told you this is the nature of their work, you CHOSE to believe otherwise.
You want to debate a matter in a mature manner? To understand it? And you don't even BOTHER to read or understand information as reported by credible sources?
This is a joke, I have read these forums for months on end only to see every single person neglect to distinguish between what exists in the SEC filings and public statements by GSPG staff from what users make up and spam in yahoo forums and here.
I'm convinced maybe* one or two of you are *actually* paying attention close enough to discern something remotely near the truth.
I challenge you to cite information, in entirety* which proves me wrong. Citation must be an instance of footage with staff speaking, or in the SEC filings. Should you I will apologize and never post again.
There are no other authoritative sources of information which can be said to be reliable or credible. If you can't comply and prove me wrong on my claims then I have successfully exposed your ignorance of the subject to the public.
The truth
http://finance.yahoo.com/q/sec?s=GSPG.OB
It's right there. If it's not in there, then you made it up or CHOSE to let yourself be deceived.
NI 43-101
http://en.wikipedia.org/wiki/NI_43-101
Learn.
Two years.
They have given you a reason that was sufficient enough for them, it's not efficient to mine something you don't understand. You, and everyone else who think they have ALL the answers, need to research the NI 43-101 and understand the RESERVE REPORT.
WHEN the reserve report is done, they will understand HOW to approach the mine they are currently developing, thus begin the process of producing ore.
You don't like it? You don't like their plan? Well guess what... you can choose to start your own mine and show them how it's done.
People *really hold it against GoldSpring for needing to upgrade their permits, god damn. It's not like they have to stop because they need more money, they have $500k in bank and completed their drill program, now they're finishing the resource report and will compile the reserve report. All of this has been known, and in the state of progress, for a long time now. Not just some "invisible progress" that we're taking their word on, they *regularly* report assay results showing it. They have been more active now in publicity through RedChip and other conferences. They are in the very act of progress before our eyes, there's no secrets! This is the job, it is being done, it takes time due to the nature of processes involved - both regulatory and scientific.
Show me a successful mine that popped up over night, please.
It's like all of you people have come from investing in consumer goods expecting the exploration and mining industry to be exactly the same.
*CLEARLY* none/few of you have researched to learn how many permits a typical mine is required to have, or how long some of them can take to acquire - especially none/few of you appreciate GSPG has gone that far already! I'm laughing my ass off that people are bitching about 6mo for some permit upgrades, jesus christ.
This is an exploration company that's about to turn itself in to a god damn Gold mine! Are we comprehending? They are on the damn EDGE of the switch, they have ALL the equipment they need now for christ sake.
The closer GSPG gets to succeeding, the more intensely everyone criticizes them. Explain that. Please. It wasn't nearly this bad when they DID NOT have a mill, and were only beginning their drilling. They have all the money they need, Winfield will just dump a few million out of his position if it came down to it - the money is there one way or another.
They publicly state, thus verify, assays over 1.0 OPT. The stock drops.
I wish American Assay would hurry the hell up and give GSPG all the assay results so we can get a damn Resource REPORT. !!!
Does anyone here have any idea what the process is for assaying? We need someone to put enough information together to estimate a rough time line.
Granted that slide show gives a very limited quantitative view of their findings, the diagram clearly illustrates better findings than have been reported. Look at how many markers clearly display findings over 0.1 OPT, which is drastically better than just the couple PRs reporting of high grade hits.
There's quite a few spots which are indicated 0.5 OPT Gold+, which is fantastic.
Unless it was just very small intervals of dirt which actually struck those numbers ...
What do you guys think?