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I hope everyone here has accumulated
A nice position!!!!
News out tomorrow regarding Fairview!!!!
Booo Yah
Could be any day now!
Gotta luv the "suspense" :)
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
perhaps more info will be released upon closing.
Why is Steele Resources
Taking over our mineral lease rights?
Seems to be a good indication that a deal is in the works.
http://finance.yahoo.com/news/Steele-Resources-Corporation-iw-2569116354.html?x=0&.v=1
Guess we'll find out on sept 30!
(keeping in mind that Steele Resources CEO "Scott Dockter" was the founder of FirstGold & holds a significant amount of stock still!!
Hmmmmm Scotty is also CEO of Dura-rock....hmmmm hmmmm hmmmm
peeps move your sell orders up!!
Heading to pennyland today (IMO)
.0037 x .0045 Boo Yah!
See post #1260
Should clear it up
Relax, it'll happen sooner or later!
NITE @ .0045
COMMENCING COUNTDOWN ENGINES ON!!
The most recent news (Yesterday)
This deserves more attention!!
Somethings going on with Steele & First Gold!
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 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
It looks like they are acquiring off Firstgold ?
Firstgold Corp (FGOCQ) Stock Trading Info:
#2 on Break out boards!
Rise and Shine!!!:)
We have the Money $$$$$
$40M NOL
WHOOOOOP
TIME IS ON OUR SIDE!!!
OHH ITS HEATING UP BABY!!!!
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 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
It looks like they are acquiring off Firstgold ?
Any thoughts on Steeles announcement?
http://finance.yahoo.com/news/Steele-Resources-Corporation-iw-2569116354.html?x=0&.v=1
First gold corp. The “Q” of the century!
http://www.firstgoldcorp.com/
First Gold was forced into chapter 11 after the Obama Administration blocked a $26.5 million deal with China's Northwest Nonferrous International Investment Co to buy a 51-percent stake in the company and develop the Relief Canyon mine near Lovelock, Nevada. The deal raised “National security” concerns because of its proximity to U.S Naval Air Station Fallon, home to the U.S. Navy fighter weapons school known as TOPGUN!. Today we are going to discuss the Legal ramifications behind First Gold’s restructuring. I’m going to attempt to break - down the last Court-Hearing into a simple summary to avoid confusion, as we all know Legal Language can be hard to swallow! We will be discussing the three restructurings that are likely to occur and decipher how these realize value to the share-holders. ( #1 “The REVERSE Merger” #2 “The 363 sale” & finally #3 “The Ultimate Restructuring”)
UNITED STATES BANKRUPTCY COURT OFFICIAL DOCUMENT (April 20, 2010)http://www.sidedraught.com/stocks/FGOCQ/04202010%20Hearing/Transcript-%5BCourtesy%20Iggles2009%5D-Reno_Firstgold%20Corp_042010.pdf
#1”the Merger”
?What is the point of this Bankruptcy hearing?
MR. HARRIS OF FIRST GOLD CORP: We want to propose a plan of reorganization with Dura Rock -- with Dura Rock -- which is not involved in this bankruptcy yet. We want to propose a plan
that has nothing to do with the real and personal property
Collateral belonging to Platinum. We want to do something for
the creditors and the “shareholders”. Durarock Resources Homepage:
http://www.durarockresources.com/Index.html
MR. HARRIS: We’re not going to reorganize around the
real and personal property collateral of Platinum. The creditors collateral is currently $19,357,961 . They have taken control of the Relief Canyon mine property and all improvements to the mine property, all vehicles and equipment, and all reports, surveys, permits and documentation relating to the Relief Canyon mine. The collateral also included a mineral assay laboratory and an office building, both located in Lovelock, NV as well as certain exploration rights.
THE COURT: What’s left?
MR. HARRIS: Your Honor, we have approximately $40,
$50-million-dollar NOL that we want to preserve, and there is
benefit for the creditors as far as money --
THE COURT: So, you’re going to use their net
operating losses? MR. HARRIS: No, no. We’re going to -- we’re going to merge -- our goal is to merge with Dura Rock or have Dura Rock acquire us or we’ll acquire Dura Rock, which will then
infuse --
THE COURT: The successor gets to utilize the NOL’s.
MR. HARRIS: Right. And then we’ll have some
infusion of monies so we can -- you know, the goal is to pay the employee wage claims, to issue stock to the other accounts payable creditors, and to have something in it for shareholders if the code allows for it.
The Court has NO objection to this proposal.
So we know that this Merger with Dura-Rock is not organized around any of the Assets that are now possessed as “collateral” by the secured Lenders. So to sum it up , There are NO legal restrictions hampering this merger!!! The merger will happen one way or another, the question is will First Gold be able to swing the “The Ultimate restructuring” and keep possession of the “relief canyon” & other seized assets!
“The 363 sale” - How would a 363 sale bring value to the share-holder ?
Lake-wood and Platinum(The secured Lenders) currently control virtually all of Firstgolds Assets but are only entitled to just over $19M in collateral for “”Secured Debt”l. In the event of a “363” sale which the creditors have stated they intend to do, there will be bidders that will exceed the amount of secured debt and there will be additional proceeds for share-holders and unsecured creditors. The Court once again has no OBJECTIONS to this(See Official Doc)Lets look at this from a mathematical stand-point . Considering that China's Northwest Nonferrous International had offered $26Million for a %51 stake back in 2009,(gold prices were under $1000) http://www.reuters.com/article/idUSN2124958520091221, I think it is reasonable to estimate First Golds current assets would sell for over $50M. Here is a recent financial report valuing our assets @ $105 million - http://www.scribd.com/doc/30832353/FGOCQ-March-2010-Mor . For this calculation lets use a “low-Ball” estimate of $50M , with currently just over $190M shares outstanding , $30M realized to our stock values our shares over $.14 , this is not including the NOL’s that are being put to use to merger with Dura-Rock or another company.
# 3 “The Ultimate restructuring”
Ultimately First gold would like to have the “relief canyon” back in production! http://reliefcanyon.com/uploads/Executive_Summary.pdf
The secured lenders have the option to sell some or all of its collateral using the bankruptcy court if preferred by a buyer in light of some advantages that this may have for a buyer.
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, as mentioned above. http://reliefcanyon.com/uploads/MDA_Reli...
So to keep it simple, First-Gold would have to Merge with another company that has sufficient Capital to buy back the Canyon ! The two companies they have been in talks with are DURA-ROCK and potentially Steel Resources - http://www.steeleresources.com/press/100901.html , Scott Dockter is CEO of both of these companies & was former CEO and founder of FirstGold. This is a golden opportunity for him to get back into the relief canyon! With cooperation from the Secured lenders this could very easily happen! We have heard nothing about the Notification of Disposition of Collateral indicating that the Lenders intended to sell the collateral privately after May 31, 2010. It has been nearly 5 MONTHS!! This leads me to believe that there may be a deal in the works with the Bankruptcy court and one of the companies listed above.
This reorganization is a very rare opportunity for Traders to capitalize on. Which ever way the cards are dealt, the Be All and End All of the story is "SHARE-HOLDERS will REALIZE VALUE" $;)
-Cheers
It's SSHHOOOWWW TIME!!! :)
BASED ON THIS:
18 THE COURT: Well, that’s -- and that’s why the terms
19 of the stipulation, I think, need to be specific. If the
20 stipulation is that it’s recognized that the security interests
21 are valid and they’re perfected, that the secured creditors
22 could exercise the appropriate state law remedies regarding
23 both the realty and the personalty, but that the debtor -- that
24 there are still assets of the estate, the sale will take place
25 under Section 363, in order to attempt to maximize the value of
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, I don’t have any objection to that.
http://www.sidedraught.com/stocks/FGOCQ/04202010%20Hearing/Transcript-%5BCourtesy%20Iggles2009%5D-Reno_Firstgold%20Corp_042010.pdf
Based on how much our ASSETS are really worth!!
Assets of 105 million, liabilities 32 million
First Gold Chapter 11 report:
http://www.scribd.com/doc/30832353/FGOCQ-March-2010-Mor
WOW if this is forced into a 363 sale share-holders are going to BANK alot!!
"363" Asset sale sends this to $.14
In the event of a "363 Asset-sale" the secured lenders are only entitled to collateral($19M). The relief canyon is a lucrative mine and serious profits have been made in the past. In the event of a sale(possible bidding War) the mine will most likely be sold for alot more then $19M & share-holders will realize value. Heck the chinese offered 26.5M for a %51 stake, The relief canyon will sell most likely for over $50M do the math .. . . . $30M realized to the share-holder with 193M shares outstanding = around .14 per share Plus NOL's
NICE ACTION GOING INTO THE CLOSE!
I BET THIS HAS A SOLID DAY TOMORROW!
ZZZZZZz wow! Not a single post today :)
Has anyone heard anything about yesterdays court hearing?
SHARE-HOLDERS are likely to realize Value
Also in the event of a "363 Asset-sale" the secured lenders are only entitled to collateral($19M). The relief canyon is a lucrative mine and serious profits have been made in the past. In the event of a sale(possible bidding War) the mine will most likely be sold for alot more then $19M & share-holders will realize value.
IMO there is a merger in the workings :)
From previous hearing - Firstgolds- MR. HARRIS: -- there is no right to pursue a 363 sale. But I’ll be glad to listen, and if it helps the creditors and the "shareholders", we’ll look at it very seriously. http://www.sidedraught.com/stocks/FGOCQ/04202010%20Hearing/Transcript-%5BCourtesy%20Iggles2009%5D-Reno_Firstgold%20Corp_042010.pdf
MR. HARRIS: Your Honor, we have approximately 40,
50-million-dollar NOL that we want to preserve, and there is benefit for the creditors as far as money --
THE COURT: So, you’re going to use their net
operating losses?
MR. HARRIS: No, no. We’re going to -- we’re going
to merge -- our goal is to merge with Dura Rock or have Dura
Rock acquire us or we’ll acquire Dura Rock, which will then
infuse --
THE COURT: The successor gets to utilize the NOL’s.
MR. HARRIS: Right. And then we’ll have some
infusion of monies so we can -- you know, the goal is to pay
the employee wage claims, to issue stock to the other accounts
payable creditors, and to have something in it for shareholders
if the code allows for it.
I wonder what was settled in the hearing today ??
Cell-Safety product overview!
http://websafety.com/cell-safety/
This is the most practical of the 4 available application & mark my words will be the one bundled into the Major carriers firmware!(IMO)
WSJ! -> Firms racing to end texting and driving!
http://online.wsj.com/article/SB125123906005958413.html
Cell-Safety is the only application that works on all 4 major wireless carriers!!!
This is going to be huge!
I can't believe how cheap this stock is!
with only 64,000,000 shares out-standing this will blast past $5.00!
Another New-york times article!
That mentions "Cell-safety"
http://www.nytimes.com/2010/04/29/technology/personaltech/29pogue.html
Wow
Even the New York Times is reporting:
"As ever more children and teens carry cell phones, some parents may opt for mobile monitoring" http://well.blogs.nytimes.com/2010/07/02/monitoring-teenage-phones-and-facebook/
Web-safety has the "ONLY" application that works on all 4 of the Major Wireless carriers!!
This kind of technology takes years of to develop and with the new laws in over 25 states + canada, The technology is needed NOW, The major wireless carriers aren't going to wait around for 3 years for some other lame company to develop an alternative product! Web-safety owns this MARKET!!!!
$
Sentiment : Strong Buy
This is another post by Wu_Tang_Trading
$90,000 in buys today!
Here is the Email that I received.
Wu-Tang Trading August 12 at 1:26am
Wu-Tang Trading advises all members to add $WBSI to your watch-list.
We see potential for possible contracts for "CellSafety" with the Big-Boys(VERIZON,SPRINT, ROGERS, AT&T,etc)
"CellSafety" uses proprietary technology to electronically detect when a car is moving at speeds above 10 mph and prohibits the driver’s ability to send or read text and email messages or utilize the phone Web browser. CellSafety is the ONLY application that works on all four major wireless carriers and works with the BlackBerry, Android and Symbian wireless operating systems.( There are currently ZERO competitors)
With more than 25 states creating laws to prevent distracted driving as well as an Executive Order from President Obama which bans Federal Employees from texting while operating government-owned vehicles, the partnership with Manage Mobility marks the first time WebSafety has aligned with a telecom company in order to provide an actionable solution to the problem of distracted driving.
A "KEY" Press release --> http://finance.yahoo.com/news/Manage-Mobility-LLC-Partners-bw-475591011.html?x=0&.v=1
Web- safety official website --> http://www.websafety.com/
"WebSafety product overview -
* WebSafetyPC is the most complete parental control solution you can buy for your computers. There is no smarter or safer solution for kids, no Internet tool more empowering for parents. Period.
(http://www.websafety.com/web-safety/)
* CellSafety -- Predators and online strangers call, text, and email young children by cell. And a new danger is cell stalking, where predators use chat rooms to find out about parties and "hook ups" where they prey upon young children and teens. This software busts them.
Texting while driving is the #1 killer of teen-age drivers between 17 and 21. This software means fewer funerals.
Cell phone cheating is the #1 form of dishonesty in test taking in our schools. This software establishes cell-free zones.
Where are your children when they call you on the phone? Cell phones go anywhere. This software tells you where they are.
(http://www.websafety.com/cell-safety/)
With only 64,000,000 shares out-standing Wu-Tang Trading has a Target price of $5.00 with in 1 month !! $WBSI is currently trading @ $ .86 !!
Add $WBSI to your watch-list ASAP!!
Thank-you for your time ! (Thank me when we hit $5.00!!)
-Peace
Wow this Squeeeeze is going to be
FUN!!!!
MORE GOOD NEWS IS ON THE WAY
CHILL OUT THE PUMP HASN'T EVEN STARTED YET!
I would prefer a gradual climb, opposed to a massive PUMP!
This stock is getting healthier and healthier every day!
GLTA
FUND AT WORK
-This is going to be one HELL of a ride!
Well this is interesting!!!!
ALL OF FLIP"S STAKE IS CONVERTED
Go ahead and call Scott yourself,
he should tell you if your nice!:)
I apologize for the % miss calc
Spoke with Scott
FLIP.PK converted there %25 stake in EYSM into Stock about a year ago.
HMMMMMMMMMMMMMMMMMMMMMMM..
Thats about all I can say
Wut eva makes you happy cowboy!
You will see
PEACE
I have been informed differently!
Perhaps a small group will be peddling this as well.
But some Big-Cats are going to push this.
Stay tuned