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So from 9:40 to 9:58 there were six(6) 100,000 trades reported on the nasd @.0001. How can that be explained?
[tag]http://ih.advfn.com/p.php?pid=trades&cb=1233092839&symbol=NO^SGCP&java_vm=sun&java_vm_ver=1.6.0_05&fp=10.0.12
Still hoping for SGCP to have a life.
agch: His specific comment was "the company has still received no notice or return calls from DTC". I expect Doug to post something on the web site when he is comfortable they have done what they can to defuse this situation.
Go SGCP!
Charlie:
I sent an email to the generic email address over the weekend and Doug responded to it personally yesterday. I do not believe he would have responded at all if his intentions were not to carry on as best he can under the circumstances. His email indicated that SGCP had not been formally contacted in regard to this. SGCP will/has responded under the guidance of their legal cancel and once that is complete Doug said they could make a more public advisement. I sense that Doug is an honorable man with honorable intentions. GLTA and to SGCP.
Including the form T sale, there were 5 sales of 1,000 shares today at $.0001. That looks like some form of attempting to manipulate the stock downward. I‘m ready for it to go the other way. Added a lot of shares the last two days and look forward to Doug one day getting rewarded for his success. When that happens my wife will be very happy with this stock ‘cause if Doug gets rewarded, the stockholder will also be rewarded. Go SGCP! GLTA!
New field report below indicates they are pursuing additional dredging leases. Does this mean the sites used this year were poor choices or the equipment was/is not successful there and needs to be moved? Has everything possible been done in existing dredge sites? I'm long but would like to see something positive and promising, other than we're moving.
Go SGCP
GLTA
Tgrpaw
Field Report August 2011
Mining
During June and July the company had 3 effective weeks of dredging operations due to a variety of mechanical, climatic, supply and other local issues. With the exception of climatic, all other issues have been addressed and rectified to the greatest extent possible.
Recovery from all sources during this period amounted to 78 ounces of gold and 58 carats of diamonds (white, coffee and industrial) all under 1.89 carats.
Currently no dredging activity is underway due to water levels, however two feeder rivers are being considered for testing operations until water levels recede.
Black sand (microscopic minerals) recovery and acquisition operations are underway with the intent of processing up to 20 tons of material by the end of October. Should this prove feasible, it will become a permanent part of Sierra Gold Corps recovery operations.
In preparation for the next mining season the company is acquiring further dredging leases on both the Sewa and Pampana Rivers.
Agricultural Activities
To date rice, peanuts, sorghum and corn have been planted. This year the company aims to double crop peanuts and rice with the goal of having 3,000 acres under cultivation. In addition to the above crops, 10 different garden crops (|onions carrots, tomatoes, etc.) have been planted on 1-2 acre plots each for test marketing and future expansion potential. The farm manager has already secured two buyers for these crops.
In early July the Minister of Agriculture and the Director of Agriculture for the Northern District visited our area of operations and held a meeting with all 5 master farms of which we are one, in the district. The Minister and Director expressed pleasure with the progress and development and indicated to our Farm Manager that we were the largest master farm within the district.
Carbon Credit Activities
Our Joint Venture partner has indicated that the revised PDD is approaching conclusion to meet Carbon Registry requirements and that financing was being pursued. The Kiri trees now growing on the property are showing indication of developing seeds. When they have developed and are harvested they will be nursed for replanting.
SGCP Security Details
Share Structure
Market Value: $3,554,276 a/o Apr 06, 2011
Shares Outstanding: 1,974,597,687 a/o Dec 31, 2010
Float: 1,974,597,687 a/o Dec 31, 2010
Authorized Shares: 2,000,000,000 a/o Dec 31, 2010
Par Value: 0.00001
Shareholders
Shareholders of Record 1,852 a/o Dec 31, 2010
Beneficial Shareholders: N/A /color]
Taken from this site: www.otcmarkets.com/stock/SGCP/company-info
I still believe the MMs are controlling the pps.
GLTA longs with SGCP
TgrPaw
New Updated 3/31/11- "Initial Company information and Disclosure Statement" on Pink Sheet filing- [url]http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=46880
As of 12/31/11 Shares Authorized: 2,000,000,000
Shares Outstanding: 1,974,597,687
Shareholders Registered: 526
Shareholders of Record:1,852
Even talks of activity:
The nature of the products or services offered.
Sierra Gold Corporation is engaged in the business of mining and exploration of gold properties in Sierra Leone, West Africa. Sierra Gold Corporation has secured 27 exploration mining and 7 dredging permits in Sierra Leone. In addition the company is developing a farming and a green/carbon project to enhance local employment opportunities in its local areas of interest.
Plan of Operation
The corporation began dredging operations in the Bo and Zimmi Districts in late 2010 and currently have 4 of its dredges operating. As well the company continues to support local artisanal miners and buy their production in order to extract native gold thereby partially offsetting operational costs while at the same time locating potential sites for development. Gold and precious gems recovered from operations are being sold through intermediaries or exported for sale as market conditions dictate.Proceeds of sales are used for further developmental and expansion programs.
Further financing,specifically for the ongoing equipment acquisition and company expansion may be required and funds will be acquired through sales of company equity and/or loans and gold loans.
As of year end December 31, 2010 the company had completed its harvesting of approximately 1800 acres of combined rice, sorghum, corn and peanuts. The cropping plan for 2011 is to use seeds from the current harvest as required for planting and sell the balance to offset expansion costs. The company also plans to do a test planting of a variety of garden vegetables to determine the viability of future production for both local sales and export.
There is more if you visit the site.
GLTA
TgrPaw
Aether:
I assume since on the P&L there are no payments to the partners in the JV's that their payments were made as part of the gross and only the net was booked on the report. If true, then the production was somewhat higher than the 25oz you calculated. I believe some of our mining areas are not JV but wholy owned. If so where is that revenue?
Second thing I question is when will there be ANY revenue from the farming effort? It seems that SGCP continues to "get ready" but does not have production as the highest priority. Many business models would try to maximize production to finance the "get ready" effort. Put the dredges and wash equipment in the most identified productive area and generate some revenue.
I'm holding for the long term return but would appreciate some short term glimmer of hope.
GLTA!
the paw
Forgot to include Current Issued and Outstanding common shares as of March 31, 2010, 1,562,418,102.
GLTUs
Ed
First Qtr results are posted today.
P&L shows $25k in joint venture sales and $360k in Equity sales(dilution).
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=33469
Balance Statement shows $75k in checking.
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=33468
GLTA
the paw
There have been 709,061,271 shares traded since 7/1/09 per the pink sheet charts. If one takes the highest 7 volume days and adds them they account for 356,965,542 shares. If one would guess those sales were dilution, that would take the OS to about 900 million. Not sure if this is correct, but it sure seems logical when you look at sudden volume days of things like 94 million or yesterdays volume of 62 Million. I have a few million and am holding on to them in hopes we will see pps move up. Company could release SOME production or financial information for us share holders even in the midst of the rainey season. GLTA!
Tigerpaw
Date Volume Shares traded Shares traded
since 7/1 Highest 7 days
9/28/2009 62,311,028 709,061,271 356,965,542
9/15/2009 90,128,056 584,087,909
8/26/2009 28,070,358 424,223,640
8/25/2009 94,780,000 396,153,282
8/18/2009 23,311,116 275,763,949
7/30/2009 25,398,444 197,309,905
7/2/2009 32,966,540 51,262,640
Something must be holding the share price up above the tripple 0's. It looks and feels like capital for additional shares. Here is the activity over the last month plus. Key here is cumulative volume between 6/1 and 7/2 was 184,531,028 shares were traded and if this is all dilution we whould be at 700 million as previous poster said. Note if all the $$ went to the company, they would be raising between $250k and $313k. I hope they can at least turn our dilution into production. When I was on the last conference call, John did not indicate more dilution was coming. What he did say was a Field Report would be out before the end of June and a PR after the 4th. What was not said happened, what was said did NOT. Same old story? Sorry if the table does not line up. Need another lesson in how to post tables to the Ihub I guess. GLTA!
SGCP Share Activity from 6/1 - 7/2, 2009=
Date Open High Low Close DailyVol. Cum_Vol_6/1 $_if_High $_if_Low
7/2/2009 0.001 0.0012 0.001 0.0012 32,966,540 184,532,028 $39,559.85 $32,966.54
7/1/2009 0.0011 0.0012 0.0009 0.001 18,296,100 151,565,488 $21,955.32 $16,466.49
6/30/2009 0.0012 0.0013 0.0012 0.0013 6,062,000 133,269,388 $7,880.60 $7,274.40
6/29/2009 0.0012 0.0014 0.0011 0.0012 2,365,284 127,207,388 $3,311.40 $2,601.81
6/26/2009 0.0014 0.0014 0.0014 0.0014 456,000 124,842,104 $638.40 $638.40
6/25/2009 0.0012 0.0012 0.0012 0.0012 70,000 124,386,104 $84.00 $84.00
6/24/2009 0.0012 0.0012 0.0012 0.0012 1,307,650 124,316,104 $1,569.18 $1,569.18
6/23/2009 0.0014 0.0014 0.0011 0.0014 307,150 123,008,454 $430.01 $337.87
6/22/2009 0.0014 0.0014 0.0013 0.0014 1,671,000 122,701,304 $2,339.40 $2,172.30
6/19/2009 0.0014 0.0016 0.0011 0.0013 11,845,120 121,030,304 $18,952.19 $13,029.63
6/18/2009 0.0013 0.0014 0.0013 0.0013 2,094,312 109,185,184 $2,932.04 $2,722.61
6/17/2009 0.0016 0.0016 0.0012 0.0012 9,551,325 107,090,872 $15,282.12 $11,461.59
6/16/2009 0.0016 0.0017 0.0016 0.0017 2,282,500 97,539,547 $3,880.25 $3,652.00
6/15/2009 0.0015 0.0016 0.0015 0.0016 4,418,916 95,257,047 $7,070.27 $6,628.37
6/12/2009 0.0017 0.0017 0.0015 0.0015 12,200,777 90,838,131 $20,741.32 $18,301.17
6/11/2009 0.0017 0.0017 0.0015 0.0016 7,841,027 78,637,354 $13,329.75 $11,761.54
6/10/2009 0.0019 0.0019 0.0016 0.0016 4,260,000 70,796,327 $8,094.00 $6,816.00
6/9/2009 0.0019 0.0019 0.0015 0.0016 16,638,666 66,536,327 $31,613.47 $24,958.00
6/8/2009 0.002 0.002 0.0016 0.002 15,451,355 49,897,661 $30,902.71 $24,722.17
6/5/2009 0.002 0.002 0.0016 0.002 1,311,755 34,446,306 $2,623.51 $2,098.81
6/4/2009 0.0023 0.0023 0.0017 0.002 14,553,198 33,134,551 $33,472.36 $24,740.44
6/3/2009 0.003 0.003 0.002 0.0022 6,127,500 18,581,353 $18,382.50 $12,255.00
6/2/2009 0.002 0.0024 0.002 0.0022 9,288,900 12,453,853 $22,293.36 $18,577.80
6/1/2009 0.0016 0.0018 0.0016 0.0018 3,164,953 3,164,953 $5,696.92 $5,063.92
Cumulative $$$ traded for period $313,035.00 $250,900.00
Below is last 12 month's daily transactions. Note the law of supply and demand is at work here often. When the transaction volume increases, more sales, the pps seems to have dropped immediately or soon there after. Not goodmanagement of stockholder value by management imo.
Where did the Cork disappear to? I've benn mising his insight and posts.
May the blessings yet come our way. GLTA!
"SIERRA GOLD CORP
Date pps at Close" Daily Volume
3/19/2009 0.0008 23,663,116
3/18/2009 0.0009 39,477,348
3/17/2009 0.0014 21,419,260
3/16/2009 0.0019 6,279,168
3/13/2009 0.0019 4,791,500
3/12/2009 0.002 2,407,628
3/11/2009 0.002 330,700
3/10/2009 0.002 5,708,074
3/9/2009 0.002 3,625,000
3/6/2009 0.0022 2,929,000
3/5/2009 0.0022 2,048,132
3/4/2009 0.0023 1,537,666
3/3/2009 0.0023 880,926
3/2/2009 0.0025 1,860,000
2/27/2009 0.0023 2,861,547
2/26/2009 0.0023 449,000
2/25/2009 0.0026 5,065,000
2/24/2009 0.0027 141,509
2/23/2009 0.0021 3,303,550
2/20/2009 0.0022 3,274,000
2/19/2009 0.0022 4,846,200
2/18/2009 0.0022 1,897,500
2/17/2009 0.0022 2,077,021
2/13/2009 0.0022 2,594,809
2/12/2009 0.0022 11,524,900
2/11/2009 0.0022 4,766,600
2/10/2009 0.0024 2,285,800
2/9/2009 0.0023 2,705,767
2/6/2009 0.0027 7,710,900
2/5/2009 0.0022 3,479,800
2/4/2009 0.0021 3,769,336
2/3/2009 0.0021 9,634,000
2/2/2009 0.0022 2,835,997
1/30/2009 0.0025 1,205,656
1/29/2009 0.0027 8,503,150
1/28/2009 0.0027 13,313,181
1/27/2009 0.003 6,804,890
1/26/2009 0.0028 6,346,800
1/23/2009 0.003 7,653,400
1/22/2009 0.0031 409,282
1/21/2009 0.0034 2,986,200
1/20/2009 0.0034 1,938,824
1/16/2009 0.0034 4,585,247
1/15/2009 0.0033 4,808,636
1/14/2009 0.0031 717,500
1/13/2009 0.0032 7,038,174
1/12/2009 0.0033 8,328,127
1/9/2009 0.0038 689,463
1/8/2009 0.0039 3,954,630
1/7/2009 0.0039 5,949,014
1/6/2009 0.005 6,317,761
1/5/2009 0.0055 5,918,491
1/2/2009 0.0039 4,119,707
12/31/2008 0.0034 2,076,738
12/30/2008 0.0034 11,120,972
12/29/2008 0.0035 2,960,257
12/26/2008 0.0027 10,340,059
12/24/2008 0.0031 5,934,574
12/23/2008 0.0031 5,192,938
12/22/2008 0.0035 3,522,500
12/19/2008 0.0042 2,177,200
12/18/2008 0.006 1,482,445
12/17/2008 0.0039 2,607,103
12/16/2008 0.004 3,954,650
12/15/2008 0.004 3,296,000
12/12/2008 0.004 2,584,500
12/11/2008 0.005 2,972,388
12/10/2008 0.0036 3,134,000
12/9/2008 0.0038 4,920,865
12/8/2008 0.0039 4,664,312
12/5/2008 0.0045 3,197,500
12/4/2008 0.0048 1,035,200
12/3/2008 0.0048 3,850,840
12/2/2008 0.005 5,116,112
12/1/2008 0.005 879,150
11/28/2008 0.0047 131,558
11/26/2008 0.005 3,800,525
11/25/2008 0.005 1,056,645
11/24/2008 0.0055 3,785,700
11/21/2008 0.0048 1,325,350
11/20/2008 0.0055 1,648,500
11/19/2008 0.006 566,600
11/18/2008 0.0055 1,200,500
11/17/2008 0.0055 618,803
11/14/2008 0.0055 856,295
11/13/2008 0.0048 923,070
11/12/2008 0.005 1,312,250
11/11/2008 0.0049 654,905
11/10/2008 0.005 810,000
11/7/2008 0.005 780,548
11/6/2008 0.0055 3,042,604
11/5/2008 0.0055 810,810
11/4/2008 0.0055 3,710,965
11/3/2008 0.0055 8,742,307
10/31/2008 0.0048 3,075,000
10/30/2008 0.0055 2,786,501
10/29/2008 0.0055 2,975,824
10/28/2008 0.0055 4,196,107
10/27/2008 0.0055 2,047,465
10/24/2008 0.006 4,920,562
10/23/2008 0.0055 4,657,055
10/22/2008 0.0052 6,135,130
10/21/2008 0.0058 8,501,279
10/20/2008 0.007 6,009,555
10/17/2008 0.006 6,883,098
10/16/2008 0.0055 5,382,945
10/15/2008 0.006 4,232,268
10/14/2008 0.0071 3,932,943
10/13/2008 0.009 8,863,810
10/10/2008 0.009 12,088,616
10/9/2008 0.0095 7,297,156
10/8/2008 0.005 6,224,641
10/7/2008 0.005 4,242,700
10/6/2008 0.0055 6,747,684
10/3/2008 0.005 9,140,601
10/2/2008 0.005 10,582,125
10/1/2008 0.006 4,649,250
9/30/2008 0.0065 3,718,300
9/29/2008 0.006 7,974,130
9/26/2008 0.007 6,736,500
9/25/2008 0.007 3,524,850
9/24/2008 0.0065 4,339,066
9/23/2008 0.0065 4,730,147
9/22/2008 0.006 2,147,574
9/19/2008 0.0059 4,371,720
9/18/2008 0.006 8,060,512
9/17/2008 0.005 4,550,000
9/16/2008 0.005 1,396,000
9/15/2008 0.0048 3,099,546
9/12/2008 0.0049 2,822,554
9/11/2008 0.0045 2,158,246
9/10/2008 0.0048 2,932,648
9/9/2008 0.0048 1,314,135
9/8/2008 0.006 445,300
9/5/2008 0.006 1,939,171
9/4/2008 0.006 358,125
9/3/2008 0.006 6,173,561
9/2/2008 0.006 2,858,800
8/29/2008 0.0065 3,662,530
8/28/2008 0.0065 2,112,400
8/27/2008 0.0065 1,863,800
8/26/2008 0.006 6,461,104
8/25/2008 0.007 5,361,535
8/22/2008 0.0065 6,619,019
8/21/2008 0.006 6,448,724
8/20/2008 0.0055 3,447,731
8/19/2008 0.005 1,135,828
8/18/2008 0.0045 4,975,000
8/15/2008 0.005 2,010,085
8/14/2008 0.005 4,583,800
8/13/2008 0.005 2,631,248
8/12/2008 0.0055 5,154,526
8/11/2008 0.0064 4,799,000
8/8/2008 0.0069 3,525,962
8/7/2008 0.0075 7,376,800
8/6/2008 0.006 6,663,600
8/5/2008 0.0055 2,496,318
8/4/2008 0.0055 2,450,000
8/1/2008 0.0045 1,756,736
7/31/2008 0.005 5,022,809
7/30/2008 0.0048 16,601,179
7/29/2008 0.005 14,102,641
7/28/2008 0.0046 11,405,111
7/25/2008 0.006 3,418,704
7/24/2008 0.0045 13,412,413
7/23/2008 0.006 12,760,807
7/22/2008 0.007 10,365,548
7/21/2008 0.01 416,061
7/18/2008 0.011 595,100
7/17/2008 0.011 191,000
7/16/2008 0.011 623,700
7/15/2008 0.01 1,633,500
7/14/2008 0.01 468,500
7/11/2008 0.01 2,070,036
7/10/2008 0.011 1,078,275
7/9/2008 0.0116 305,000
7/8/2008 0.013 522,900
7/7/2008 0.012 1,356,634
7/3/2008 0.013 52,334
7/2/2008 0.013 828,974
7/1/2008 0.012 2,215,366
6/30/2008 0.012 578,110
6/27/2008 0.013 973,808
6/26/2008 0.012 2,618,357
6/25/2008 0.015 1,730,000
6/24/2008 0.014 94,600
6/23/2008 0.016 119,200
6/20/2008 0.015 401,478
6/19/2008 0.016 584,600
6/18/2008 0.013 975,000
6/17/2008 0.015 433,822
6/16/2008 0.014 1,122,433
6/13/2008 0.016 600,000
6/12/2008 0.013 1,264,400
6/11/2008 0.015 2,630,697
6/10/2008 0.012 472,500
6/9/2008 0.013 409,660
6/6/2008 0.013 398,200
6/5/2008 0.014 77,300
6/4/2008 0.014 153,650
6/3/2008 0.014 86,900
6/2/2008 0.013 127,500
5/30/2008 0.014 141,650
5/29/2008 0.013 50,600
5/28/2008 0.014 211,200
5/27/2008 0.013 480,687
5/23/2008 0.014 489,150
5/22/2008 0.014 385,225
5/21/2008 0.014 177,000
5/20/2008 0.014 1,713,685
5/19/2008 0.015 446,033
5/16/2008 0.015 841,714
5/15/2008 0.014 830,158
5/14/2008 0.016 639,733
5/13/2008 0.017 338,000
5/12/2008 0.016 443,014
5/9/2008 0.019 43,650
5/8/2008 0.019 264,818
5/7/2008 0.0175 48,031
5/6/2008 0.02 154,200
5/5/2008 0.018 115,500
5/2/2008 0.017 181,095
5/1/2008 0.018 300,514
4/30/2008 0.02 117,388
4/29/2008 0.0235 1,848,267
4/28/2008 0.0185 398,960
4/25/2008 0.017 893,562
4/24/2008 0.016 439,709
4/23/2008 0.017 692,200
4/22/2008 0.0185 1,638,834
4/21/2008 0.022 1,781,689
4/18/2008 0.025 236,990
4/17/2008 0.02 714,389
4/16/2008 0.026 1,487,733
4/15/2008 0.022 553,630
4/14/2008 0.02 234,252
4/11/2008 0.024 1,259,765
4/10/2008 0.024 500,350
4/9/2008 0.026 654,692
4/8/2008 0.026 537,242
4/7/2008 0.028 446,968
4/4/2008 0.026 417,489
4/3/2008 0.026 264,900
4/2/2008 0.026 397,500
4/1/2008 0.027 769,200
3/31/2008 0.027 276,849
3/28/2008 0.03 646,024
3/27/2008 0.0325 1,075,500
3/26/2008 0.029 105,572
3/25/2008 0.027 277,900
3/24/2008 0.027 984,900
3/20/2008 0.0295 61,967
3/19/2008 0.028 559,194
From the Home page of the Sierra Gold web site comes this statement:
"It is the aim of Sierra Gold Corporation to acquire and develop gold and other precious and base mineral properties
to increase shareholder value."
From a shareholder's observation of their actions, it appears that management's short/mid term business plan is only a portion of this statement, "to acquire gold and other precious and base mineral properties".
At least the short term business plan does not seem to have any consideration "to increase the shareholder value".
GLTA anyway!
TgrPaw
I believe John was to talk to Doug mid-week, this week if I read the Field Report posted on Jan. 26th correctly. So maybe he will have good news to share soon.
GLTA!
TgrPaw
Field report: Jan 26, 2009
Doug Left for Sierra Leone on Thursday to check on mining operations and will be in Sierra Leone for 6 weeks. We start 2009 with great anticipation now that we are in the mining stages. Test reports from Zimmi are very encouraging and the processing of gravel with one of our 10 ton processors is on going, operations on the Sewa are in full gear as well with dredge and our 2nd 10 ton processor on location. Artisan mining in the Tonkalilli district on the Pampana River is in operation.
I will be talking to Doug by mid week for updates and will keep our shareholders up to date as information arrives. Mining in Sierra Leone offers many challenges and we have and will continue to address these challenges. With the price of gold rising and mining operations in place we look forward to a successful and profitable 2009.
Have a great week end!
The Paw
GLTA
What do you think of this field report I just read from the web site? It has been dilution that is driving our pps not repurchase. Well our 3% of 222,000,000 to just 1.8%. It's still not bad but...... At one point in the past the pps was $.25 I think. Now that more funds have been raised, can we get the pps up please?
the Paw
GLTA
Field report Jan 9th
Per the Jan. 5th press release the mining season is underway in Sierra Leone
Both clear and colored fancy diamonds have been found size ranging from .35 to 1.35 carrots which we believe is strong indicators of larger diamonds in the area. Rough diamonds of this size offer little value due to loss of 50 % or more of weight in cutting and serve best as an indicator.
Exploration project on 7 mile ocean concession between the Mano and Mao River will begin end of Jan.
Discussion continue with JV partners to supply additional mining equipment for current mining season
Target date of Feb 15th for submittal of documentation to S.E.C.
Dredge and processor on location and in operation in Bo
Location, set up and testing operations are commencing in Zimmi processor on location
Artisan mining operations in Tonkalilli are underway
In order to secure and expand our long term presence in the mining sector, Sierra Gold Corp. outstanding shares have increased to 372 million. Proceeds were used for property acquisitions and operating expenses. We fill this will position Sierra Gold Corp for success now and in the future by continually securing long term agreements on desirable mining concessions.
I appreciate the most recent PR in stating that SGCP is now in production. I am here for the long term opportunity that SGCP offers. Our small group of investors have about 3% of the reported outstanding shares. We are here for the future. Using my analytical approach I would like to see some more detail on subjects that have been introduced by SGCP on the web site. The following are excerpts from the tabs for Field Reports and Property. Looking back on these some activity was reported or planned when those entries were composed. It would be nice to have updates on those areas bolded below.
ZIMMI
In the fall of 2008 properties on the Mano River that extend to the Atlantic Ocean were introduced to the company in the Zimmi district of Sierra Leone. After completing its due diligence, the company, commenced and completed the formalities with the paramount chief and land owners, the result of which was the licensing of the property. Currently the site and logistic preparations are underway and it is the company’s intent to commence mining operation by end of 2008. The Zimmi area, while well known for the world’s most beautiful Vivid Yellow diamonds, is also rich in gold bearing sediments in certain areas.
SEWA RIVER
In the spring of 2008 two separate properties were introduced to the company in the southern district of Sierra Leone, near the city of Bo. After completing its due diligence, the company, through its local joint venture partner, commenced and completed the formalities with the paramount chief and local landowners, the result of which was the licensing of both properties. In addition, a Joint Venture arrangement was entered into whereby an 8” dredge was secured, transported to the site and is now operational. Dredging operations began in September. Additional equipment was secured for the second Sewa property in July. Currently the site and logistical preparations are underway and it is the company’s intent to commence mining operations in the 4th quarter of 2008. The Sewa River, while well known for its diamond production, is also rich in gold bearing sediments in certain areas.
PAMPANA RIVER
In 2005, geologist Hendrik Veldhuyzen completed a 43101 (competent person) report on the Pampana River licensed area deeming it a property of merit. He recommended that exploration be continued and subsequently a dredging program be commenced to develop cash flow for the company. In 2006-2007 the exploration program, as laid out by Hendrik, was continued and successfully completed in 2007. The results of the exploration phase were very positive and we were ready to move to the operations phase of the project. In 2008, a specific mining site was selected. Processing equipment which was ordered in November 2007, has been shipped and is scheduled to arrive in October of this year. Licensing, logistical and site preparation are under way in order to commence operations in the 4th quarter of 2008.
JOINT VENTURES (JV):
Joint venture areas by district; Updates needed for each of these areas
1. Kono district Sierra gold corp. has 2 joint ventures located in Tefeya and Sandia
2. Konduga district Sierra gold corp. has 2 joint ventures in Bafodia and 2 joint ventures north of Kabala
3. Tonkolli district Sierra gold corp. has a large joint venture on the Pampana river east of our 40 sq/km concession
4. Mali joint venture is located outside of Bamako which is on the Mali/Guinea border
“The company continues to expand these types of relationships and has recently been introduced to an 8th Joint Venture in the country of Mali. There, the licensing process has been completed and initial operations are scheduled to begin in October. Mali is well known for its gold production. It is the third largest gold producer in Africa. In future updates, we will report on the JV as a separate project and it will appear under its own heading.”
Hopefully each of these activities could be addressed/updated either in a PR or on the web site to inform the investors of current activity/status.
Was John promoted to President while in SL or just tired when he wrote the email. The website still shows him as Vice President.
GLTA and may it happen soon!
How is L2 looking. Is there and indication of tightening?
Our group has be accumulating since March. I was able to roll some IRA CD $ into SGCP today. With that last purchase of 1.2MM our group is now holding just over 2%. It was a GOOD day for buying. Now let's go LONG and make all the investors happy.
GLTA!
If one takes your conservative estimate and annualizes it to $6,720,000, then the annual revenue per share would be $.305. Could we expect some dividens with that kind of revenue and if so what would you think they might be?