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$FGOCQ -Value of Equipment alone pays off debt!
Bankruptcy sale --> http://reliefcanyon.com/Home_Page.html
Read page 7 ==> http://www.scribd.com/doc/30832353/FGOCQ-March-2010-Mor
* Mining equipment , Market value -- $2,000,000
* Crushing equipment, Market value -- $2,000,000
* Processing plant & equipment, Market value - $7,000,000
* Lab equipment, Market value - $11,200,000
Total value = $22,200,000
Secured debt = $19,357,961
NOL's = $50,000,000, see pages 14/15 of court doc.
(This alone prices us @ $.20)
Relief mine leasehold improvements = $86,000,000
Court Hearing ==> http://www.sidedraught.com/stocks/FGOCQ/04202010%20Hearing/Transcript-%5BCourtesy%20Iggles2009%5D-Reno_Firstgold%20Corp_042010.pdf
The Court - the sale will take place
under Section 363, in order to attempt to maximize the value of
If the assets, and perhaps there will be bidders that will exceed
the amount of secured debt and there would be additional
proceeds for unsecured creditors(shareholders), I don’t have any objection to that!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55136919
$.10 to $.20 no problem man
Read my posts I have explained all the situations, Incuding NOL's,Mergers,363 sales...ALL realize value to the shareholders and all send this over $.10
Spread the DD on other pages guys!!
Ihub,Facebook,Twitter, Yahoo!,& Google !!
Get the word out!!
I was just bidding at .007 and got 50K and then the MM's sold me some at .006, and it took like 10 mins to get filled at .007 wtf? Not many shares imo
Anyone want to hit the ask with me?
FGOCQ Value of Equipment alone pays off debt!
Bankruptcy sale --> http://reliefcanyon.com/Home_Page.html
Read page 7 ==> http://www.scribd.com/doc/30832353/FGOCQ-March-2010-Mor
* Mining equipment , Market value -- $2,000,000
* Crushing equipment, Market value -- $2,000,000
* Processing plant & equipment, Market value - $7,000,000
* Lab equipment, Market value - $11,200,000
Total value = $22,200,000
Secured debt = $19,357,961
NOL's = $50,000,000, see pages 14/15 of court doc.
(This alone prices us @ $.20)
Relief mine leasehold improvements = $86,000,000
Court Hearing ==> http://www.sidedraught.com/stocks/FGOCQ/04202010%20Hearing/Transcript-%5BCourtesy%20Iggles2009%5D-Reno_Firstgold%20Corp_042010.pdf
The Court - the sale will take place
under Section 363, in order to attempt to maximize the value of
If the assets, and perhaps there will be bidders that will exceed
the amount of secured debt and there would be additional
proceeds for unsecured creditors(shareholders), I don’t have any objection to that!
Value of Equipment alone pays off debt!
Bankruptcy sale --> http://reliefcanyon.com/Home_Page.html
Read page 7 ==> http://www.scribd.com/doc/30832353/FGOCQ-March-2010-Mor
* Mining equipment , Market value -- $2,000,000
* Crushing equipment, Market value -- $2,000,000
* Processing plant & equipment, Market value - $7,000,000
* Lab equipment, Market value - $11,200,000
Total value = $22,200,000
Secured debt = $19,357,961
NOL's = $50,000,000, see pages 14/15 of court doc.
(This alone prices us @ $.20)
Relief mine leasehold improvements = $86,000,000
Court Hearing ==> http://www.sidedraught.com/stocks/FGOCQ/04202010%20Hearing/Transcript-%5BCourtesy%20Iggles2009%5D-Reno_Firstgold%20Corp_042010.pdf
The Court - the sale will take place
under Section 363, in order to attempt to maximize the value of
If the assets, and perhaps there will be bidders that will exceed
the amount of secured debt and there would be additional
proceeds for unsecured creditors(shareholders), I don’t have any objection to that!
(.007),We are Entering severe break-out Territory !!
Luvin the gradual climb here!
Good show :)
No information is available to the public as of now.
I suspect we will hear something very soon (JMO tho)
Maybe even sometime this week!! :) lol
$73,081,472 (total equity) div 196,770,012 O/S = .3714
These are the statistics that smart $ is banking on -> http://investorshub.advfn.com/boards/read_msg.aspx?message_id=54845141
The talks of Mergers are constructive to this board and very probable -- Given the "Benifits" the successor is obligated to when acquiring First gold or merging --, But are pure speculation at this point.
Once again I will say there are numerous options still on the table
for this reorganization in relation to share-holders realizing value.
I'm looking forward to the next court hearing! & will continue to accumulate until then!!!
What about Victoriagold corp
They have secured some serious financing - (Recently $28.8M) - Coincidence?
They also are part of the relief canyon project ==> http://www.victoriaresourcecorp.com/index.cfm?id=8301
Let's not put all our eggs in 1 basket with this dura-rock merger.
The court-case stated that First-gold has been in negotiation with "several" companies regarding a deal!
There is alot on the plate here guys.
Market Value $721,300 a/o Oct 01, 2010
Wow way undervalued imo
The value of the NOL's alone puts this well over $.10
http://www.otcmarkets.com/stock/FGOCQ/company-info
shortsales - http://www.otcmarkets.com/stock/FGOCQ/short-sales
LOOKS LIKE DURA-ROCK IS UPDATING
There website - http://www.durarockresources.com/
The page is BLANK on my screen!
hmmmm, can anyone confirm this?
FGOCQ - #3 on http://www.ddmachine.com/
Get in before weekend imo.
Investors will be soaking up the info!!
The word is spreading :)
DONT WORRY THE BEAST WILL BE UNCHAINED!!
FGOCQ - #4 on http://www.ddmachine.com/
GET THOSE BIDS UP GUYS!!!
FGOCQ - #8 on http://www.ddmachine.com/
ALL NEW COMERS TO THE BOARD (MUST READ)
Re: None Post # of 1537
STEELE RELEASED NEWS AFTER HOURS
http://biz.yahoo.com/e/100930/selr.ob8-k.html
The Fairview Hunter Project lease was acquired from Durarock Resources, Inc.
Looks like the merger with dura-rock has un-officially started!! FirstGold owns the rights to fairview-hunter , Tho in this case Steele is acquiring off Dura-rock which has obviously started acquiring from FirstGold!!Remember that the DURA-ROCK MERGER has nothing to do with the real and personal property Collateral belonging to Platinum. There are NO legal restrictions hampering this merger!
This is a great Sign guys!!!
Dura-rock and Firstgold are swinging business deals!!
To Da Mooooooon In the A.M!
LOOKING GOOOD!!!!
This is gunna FLY today imo!
L2 is super thin!
COMMONS WILL BE INVOLVED!
The plan is to reorganization with Dura Rock which is not
involved in this bankruptcy yet. A plan that has nothing to do with the real and personal property of platinum. They want to do something for shareholders and creditors. We have $50,000,000 in NOL's which the successor "Dura-rock"
gets to utilize.Then they will have infusion of monies so they can pay
the employee wage claims, to issue stock to the other accounts payable creditors, and to have something in it for shareholders.
Now whats interesting is there is an ASSET manager for the Platinum collateral(The relief mine etc) By agreeing to an asset manager, the secured lenders have stepped in financially to protect their asset value. Therefore, the purchase and development of the mineral resources reported herein by another company and/or party would be free from court issues and any further bankruptcy court proceeding that Firstgold may be subject to in the future, unless the purchaser wishes to invoke the bankruptcy process.
The courts have been quite for the past few months, I'm wondering if maybe the the secured lenders have come to an agreement with dura-rock and first gold ? ? Possibly Dura-rock and First are in the process of merging and have made an offer to "buy-back" the relief canyon with the use of the NOL's??
IF this is the case we will find out if Dura-rock wishes to proceed in further bankruptcy hearings, Im not sure if it has to go through the courts to utilize the NOLS!!
This is getting very interesting folks!
Stay tuned :)
STEELE RELEASED NEWS AFTER HOURS
http://biz.yahoo.com/e/100930/selr.ob8-k.html
The Fairview Hunter Project lease was acquired from Durarock Resources, Inc.
Looks like the merger with dura-rock has un-officially started!! FirstGold owns the rights to fairview-hunter , Tho in this case Steele is acquiring off Dura-rock which has obviously started acquiring from FirstGold!!Remember that the DURA-ROCK MERGER has nothing to do with the real and personal property Collateral belonging to Platinum. There are NO legal restrictions hampering this merger!
This is a great Sign guys!!!
Dura-rock and Firstgold are swinging business deals!!
To Da Mooooooon In the A.M!
$.05 to $.10 (Short-Term)
Yaaaaaaaa Ha!!
PENNIES COMING !! LOAD up the SHIP Captain!!
DUDE the only reason first gold is B.k
Is because the "OBama Administration" Blocked the deal they had with the chinese! due to National Securites concerns!!
Cant point the finger at anyone here.
DURA-ROCK is a debt free solid company
That is eligible for financing to get the mines into production(if needed)
IT really doesn't matter how big DURA-ROCK is
FG Assets are very valuable and surpass there debt 10 fold
NOL's over $40,000,000 alone!! Assets over $70,000,000
The Merger is merely away for F.G to erase its debt and move on while surviving value to share-holders!! and get there MINES into PRODUCTION!
.005 is low of day!
Whack it or be left in the dust
-PEace
MM knock it down 5000 order
and a 6000!! lmfao
Don't let them bait you into selling !!
FGOCQ has potential to hit $.20
to .37 under the right reorganization circumstances!
DO NOT UNDERESTIMATE THE POTENTIAL HERE!!
Our ASSESTS are worth alot of $ and our debt is small in comparison!!
We have all read the DD and are in this for the right reasons!
(HOLD TIGHT)*
(STRONG BUY)*
Wonder if STEELE will make the announcement
Sometime today or tomorrow!!
Phase 1 sell-target($.04-$.05)
NO SWEAT!!!
Hold tight guys!!!
No reason to sell here!!!
Huge Gap over .01 coming !!
If you sell now youl get left in the dust!!
We all know how fast this sucker moves!!!
-Cheers!!
This is just getting started!!!
Not to late to buy bro!!
Multi pennies just around the corner!! .04 -.05 (No Problem)
Join the Parade!
Gap up well over $.01 tomorrow!
Traders are just catching on to the HUGE potential here!!
If you havent bought yet scoop your shares first thing tomorrow as this is "PAPER THIN" and moves on AIR!!
HOLD THOSE SHARES(TIGHT)
MEGA GAP IN THE A.M
.0047x.0049 (STRONG CLOSE AHEAD)
HUGE GAP IN THE A.M
SO CHEAP GUYS!!!
GET IN NOW OR HAVE FUN CHASING THIS UP (WAAAAAAAAAYYYY UPPPP!!)
GOLD PRICES AT RECORD HIGH!!!
Relief Canyon over 300k ounces $$$
.0047 will be Annihilated any minute now!!!!
Opening over .01 tomorrow imo!!!
Lets Rock this !!
STEELE RESOURCES IS ACQUIRING
OUR LEASE RIGHTS TO FAIRVIEW HUNTER
On January 11, 2008 we secured claims on approximately 2,300 acres of potentially mineralized ground near Fairview, Nevada referred to as the Fairview-Hunter property.We are conducting preliminary sampling of the area. During the course of the property evaluation, rock chip samples were collected. The next phase of this project will be to conduct extensive mapping of the area's bedrock geology. Additionally, we plan to conduct an airborne geophysical survey to map the magnetic character of the rocks. Geochemical exploration efforts will continue with more rock chip sampling as well as an in-depth soil sampling survey.
http://biz.yahoo.com/e/091222/fgoc.pk10-q.html
The Fairview Hunter Gold Exploration Property is comprised of 115 mineral claims totaling approximately 2,300 acres located 30 miles Southeast of Fallon, Nevada. It is situated 25 miles northeast of the Denton Rawhide mine which has produced in excess of 1.4 million ounces of gold and 11.7 million ounces of silver.
Steele Resources acquired the mineral lease rights in exchange for issuance of 500,000 shares of its restricted common stock and the prior lessee(firstgold) retained a 2% net production royalty which the Company can acquire upon payment of $1,000,000 per each 1% royalty amount. Upon satisfaction of various conditions, the closing is expected to occur on September 30, 2010.
http://finance.yahoo.com/news/Steele-Resources-Corporation-iw-2569116354.html?x=0&.v=1