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How can we buy back stock, when we have to get a deferrment, (extension ?), on debt owed to creditors?.......We can't pay our bills on time.......not good
"It is this board and its members that hyped the tailings."??????I spoke with Rich Kaiser on the phone about 2 years ago. I believe he said 2 oz / ton. It was way up there.
....and now we're going looking for tailings that actually have gold in them...... brother
PR Translation & BOTTOM LINE: We got decent financing, IMO, but not near enough to carry us 2 - 2 1/2 years, so we BETTER start finding decent values in the tailings, or we're in BIG trouble.
correct. You sound like a newbie. I've been in this over 3 years, and followed,(tried to follow) every back and forth PR. with their big tailings value numbers, and production numbers,and all the rest of it. If you can find them, go back and read the PRs from 1-2 years ago. It will help you put everything in context, and perspective.
Someone did the math, I think the tailings had less than 1 gram gold per ton. What a joke. And where did the tailings come from? Still don't have permits. They have been back and forth on if they will build a seperate mill for the mountain; now at least 2 years to production. President, Mr. Roger Scammell. Good name.
What happened to merger, buy-out, takeover talk?
There are a lot of short term "flippers", and traders, who bought a few weeks ago knowing that news was coming. They wait for the news, a small pop in the pps, then sell, and move on. Another factor; the Mar. 11, PR mentioned 31,000 acres. We ended up with 9,000, with no mention of aquiring more. Stock price can get killed when companies over-promise, and under-deliver. Personally, I'm very happy with the PR; I've been in this about 3 years.
My point was, there are many mom & pop miners with similar equipment, in Alaska, that process 1000 tons of material a day. I f they get 1/10 oz per ton, and work 6 months, that's almost 20,000 oz. The old guy with the claim next door was probably doing a lot more than that.( Yes, I'm aware that a heap leach operation is totally different from a washplant). Regardless, this company seems to really think big when it comes to hiring engineers ,geologist, drilling, aquiring property,financing, increasing reserves, uplisting; and then they come up with this wimpy production number. It doesn't seem to fit. IMO, they should be talking about scaling that up to 40,000 - 60,000 oz in 1-3 years, but they haven't. Let's think big.
I have also been in this almost 4 years. I like your assessment, but I can't understand your optimism, when they are only planning 20,000 oz a year production. That's not the next Barrick,(8 million oz / year.) Remember that tv reality show last year, "Alaskan Gold Rush"; Those guys did 20,000 oz the last week they were there. Plenty of little mom and pop miners doing 20,000 a year. Do you think LODE is sandbagging, really planning for more. I hope so.
"WAY TO LONG."..... TOO , not TO
"SFMI management overstated and under-delivered". Exactly. Remember a year and a half ago ,we were told 500 tons / day production on the tailings, with 2 -3 oz gold equivelent / ton. That would be 1000 oz. of gold per day. We do 100 in a QUARTER. Yea, I guess we missed our projections by a little bit. Plenty of small mom and pop juniors do 10,000 - 20,000 oz a year. We do 300.
correct
" never once inferred that I was in the law field". IMPLIED, not inferred.
They keep mentioning financing, WHY ? I said 2 weeks ago, they have no land, they own nothing, and it sounds like they are waiting for financing, which could take years. Of course I was called a "basher".
OK, Thanks. Assuming they can maintain current ptoduction levels, (revenue),with the current number of shares, what do think this stock is worth? I thought 20 - 30 cents, but others are saying 1 cent.
I thought we had a ship every month. What happened?
"CGAQ Closed today @ 0.40," ???
Geez...Who gets the other 90% ?
"The next phase of operations, planned to start in the next few weeks, will be conducted while working in cooperation with the National Museum of the Philippines and other governmental agencies. Currently ORRV is organizing legal, logistical and operational requirements to proceed with the next phase."(from PR) doesn't sound like international waters to me.
Sounds good, but we still have no legal rights, or permits to do any salvaging in the Phillipines. Correct? When/if we do, I think the pps will move.
" MMTE, a lithium and altrnative energy mining company, announced today that it is in the final stages of negotiations for lithium concessions in Chile. The firm is currently working with its Chilean lawyers to finalize the formation of its Chilean subsidiary and in completing final due diligence on all properties under negotiation.
Mammoth has signed a Letter of Intent with Salt Gold Inter Chile Limitada whose concessions are located in the Salar de Maricunga." You just said, "we have the land". Where is the PR that says we now have the land? This one does NOT say that. Not bashing, just asking.
MMTE has NOTHING. They are still in "negotiations", which could mean about anything. Am I wrong? I hope so.
Pan Am owns the mineral rights? (pr) Isn't that not good for us? Merger sounds good. Your thoughts.
Which land deal? I don't think MMTE owns any land in Chile.Don't they have a letter of intent, or something, to maybe buy someday if financing help becomes available, which could take 2 years or never? IMO
I remember, I've been in about 2 years.
Yes we know about Manzanillo because You've been regurgitating his mistakes there ,over and over,for the last two years. WE KNOW. WE HEARD YOU. WE GET IT. Bob has obviously moved on to a successful endeavor here. You are still stuck in the past. Grow up.!! Every prediction you have made has been wrong. Give up! Steve Jobs got thrown out of Apple at one time. Bill Gates, and Donald Trump messed up, but everyone knows their stories didn't end there, just because they had failures or mistakes. Wake up. This is not Manzanillo. Most really sucessful businessmen had at least one business failure before they succeeded. You seem childishly naive about that. Go sit in the corner and pout because you lost some money at Manzanillo. We will take our chances. I'm glad I didn't listen to you a year ago when we went back and forth, because I have since made a lot of money on this stock!
Weren't we told a while back that the tailings had 1 -2 OUNCES of gold equivelent. Now we see they have 1-2 grams. How is that good news? I'm not bashing, just asking.
Sounds good. I hope you're right. I DO understand the potential, and fundamentals. It's HUGE. I ignore this for 3 months, come back and learn we are doing 2.5 tons/ hr. Literally 2 guys with shovels can move that much dirt. What have we been doing?
Drill, and prove up the resources. OK. Someone posted a few weeks ago that they had not seen a successful buyout of a penny-stock mining co. in many years. I haven't either, but I guess it could happen. It seems that management can't make it's mind which direction to go ,and has little motivation to get there. Pick a plan and go. I said 6 months ago, someone needs to light a fire under management. The potential is so HUGE, but it seems like PQ is always worried about spending a dime, or losing a dime
I would have NO problem telling my friends I bought a pile of crap, if that was the truth. That's the difference between me and you, I guess. I don't consider this bashing,because I question if management is doing their best, or what's best.
"In 2010, SFMI's board had decided that locating a mill site at the entrance to the Sinker Tunnel is both impractical and too costly" All of a sudden, now it's impractical??? Wake up , it's MONEY , LACK OF REVENUE. Where were those big money guys you mentioned?
After 40 successful years in this business, maybe he's ready to retire. http://msi-mining.com/gold/ Now they say we can't afford to build a mill on the mountain / hard rock site. Why can't they buy a unit like this, add a crusher, and LET'S GO! Maybe we need a new mining engineer.
Yes I have read them. I've been in this 3 years, and read every pr. That's the point. They say 250 tons/hr and 2 years later we are @ 2.5 tons/hr. (which means almost no revenue ). SFMI is obliged to pay 1 million $ a year lease, plus other fees. Have you read those PRs? I have seen small mining companies go bankrupt even AFTER they started production. The big majors won't need to buy this Co. They will just sit back and wait for them to run out of money. Make no mistake - this company needs revenue. They have bills to pay. I think it's a serious race being run. Will they get into serious production first, or run out of money first?
Short - sellers are getting crushed !!
I agree. If this is legitimate, why didn't we close around $1.70? That's the way it normally works.