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Well, it just did go down due to the CME raising margins 27% again for the second time this month. They are trying to kill speculators. This will help curb it temporarily, but as long as politicians do stupid this gold will head back up. It is only when they get their act together that gold will go down as perceptions change. Unless we make it the base of our currency then I'm not sure it goes anywhere but up, but I doubt that will happen unless we have a radical change in DC.
Just reporting what the guy said. I have no idea what happens. If I did I'd be rich. I suspect if we ever get serious about really balancing the budget and have massive reductions in spending and cut the baseline to 18% of GDP then gold will evetually tank. If on the other hand we continue in the current mode then who know where it goes on the upside. I just know in my 56 years the only thing that brings gold back down is sanity and that people believe that there are better alternative investments.
Yes, I have the same backwards problem and even when I get it right the comany does something stupid and sell out on the cheap before I get a chance to get back to BE. AS I see SNEY it is an all or nothing proposition. Either they have something and we all do well or this becomes another pinky due to Mgt. being iffy or poor at running a business and we go belly up. Still not sure which way it falls, but worth the price of admission to a point.
Yes, I'm at .0185 and not able to average down at this moment as I had wished I could. Like you I wait it out. Jury duty this week so not sure I'll be posting much or not. GL
Guy on MSNBC this morning said if we peg gold to the dollar and use it as a Standard gold would be $7000 an ounce. While that might help our investment big time not sure what happens to society as we know it if that happens.
But do they expect to get new shareholders acting this way? Do they expect shareholders down 70% because of their inability to take care of the things they should to be happy about it? It is give and take and again if they wish to plya like grownups in the world of a public company and not like a 14th explorer funded only by rich monarchies then they need to play by the rules. No offense intended.
I agree. NO way they would do that again. Not sure why the heck they did it in the first place. If anything they would do the opposite to get the share count down, but if they are ever going to do that they would need HUGE news so that the share price would not plunge after that. Gold up again, but off premarket highs as usual. While I somewhat agree with Dredge his comment about Mgt. as he may see if a bit differently having been in their shoes before and knowing what a difficult environment it is to work in. Thing is as a public company there is also responsibilities they take on knowingly to report on a timely basis and disclose material and substanial news to shareholders. So far, this has been out of balance and therefore the CE. I think Mgt. needs to also understand that many bought while this was up and are now down to 30-50% of their original value and maybe can empathize some in exchange for the patience given for all the delays.
What moron is selling? I sure wish I had some dry powder. I'd be buying hand over fist at these prices.
Funny how that one illigit company with supposed REE's was pumped and went to $10 a share and we have both gold and REE's and sitting under a penny. It is a crazy world. I guess if you pay $2 million to promote a scam that is what happens.
I guess with gold at $1849 we net much more than $1000 as originally estimated. I understand the secrecy thing, but if you are going to be public you cannot run like a cash company no matter what. You just have to have it one way or the other. I realize that can be dicey in that area. Hopefully, their relations are good enough to avoid problems in the area as far as theft and blackmail.
Good post. I do wonder about that money point. It seems they had over $600K and would have close to $2 million after the warrants. It seems to me if they planned this out they should not have a shortfall between now and the time the warrant money came. Either that or they figured, as I, that the gold would help cover cost. The cost of manpower is cheap. The dredges were paid for I thought. So, the cost would be salaries, supplies, gas etc. Since they are a small company the management the team should be taking lower salaries with share bonuses and then as production increases pay themselves accordingly.
so, you think they will promote for the insiders? I really hope not and if they do I will dump into any pump as they always crash and burn. It is my hope there is real substance here that does not need to play the game and that these guys want to build a company and revenue stream and get rich the old fashion way and not by duping and stealing from shareholders.
The big difference I see here it in one way this is not the typical pink in the respect you do not see some big promtions being done to lure in new shareholders. I guess if you are a trader or looking to get rich quick with a big move you might want that. On the other hand if you are looking for a company that will grow into a real one and not just another pump and dump scam company this might be what you want. One that has slow and steady realistic growth and is getting it's act together. For me at least I'd prefer SNEY become the later. I just hope that is the path they take. If Mgt. is honest and competent then we should be fine. In the end that is what it all comes down to any way. They have to be honest and know what the heck they are doing. Jury still out on proving this IMHO with the Fins. and numbers.
Gold up again another 2% this morning. I just hope we get going with some news before Congress gets back together. Who knows a miracle may happen and they could get serious on the debt problem and I think that knock gold back down somewhat, well at least temporarily, until the next crisis emerges. If, we have to wait until the election then gold could hit $2500 an ounce by then.
AS would I at this point. He can send it directly to me. LOL
Thing is they have to show us something because trust only goes so far. Many here are in another stock that the CEO has shut down any communication for like months. Sometimes silences speaks louder than words like with th eother stock it scream we don't have any money or minerals. So yes, patience is needed but so is proof that you have what you say you do. Like most things in life there's balance.
Well, Gold up a bit over 2% since yesterday and therefore whatever we have has gone up in value. Of course, no way of knowing what we have really until they verify it and we start seeing it on the fins. If we have 500,000 ounces a 2% rise in one day would be a great return annualized!
who in their right mind sells here unless they are desperate for cash and broker sold their position to cover a margin call?
Yada, yada, yada. Gold is at $1817 and not going anywhere but up. Figures shown based on $1000 gold and we can do the math. Thing is we know there's gold there. We know they said they did better than expected. So if they are telling the truth we should be fine. Your choice to take the chance and believe them or not as that is what it really comes down to at this point is trust.Is their word their bond or just BS? Place your bets or take your money off the table I guess it is.
As I see it the players will only buy at .006 or so. Many longs underwater and just holding. Very little money to risk anything more in this until we get some hard proof that it is all for real. Many are tapped out and just waiting it out. IMHO the ball is in SNEY's court now to lay down their cards as all bets in. Just waiting like the rest. Yawn!
There, great we made an executive decision now it is up to them to act on it. Glad that was settled. :)
Well, it looks like we are a bit behind the schedule, but following it as you say. THis part is what I'm waiting for -
Cash flow from bulk sampling within three months of landing equipment
I want to see the cash flow. Now someone mentioned that South Africa is building a REE plant. I really do not see use doing that as you are talking a huge investment of funds they just do not have. It would make more sense to me that we offer to sell them a supply of REES to process for a cut of the profits. They will need supply and we have it. We might have enough coming from the REES to fund the overhead eventually.
Now gold was $1816 last I saw and going crazy as Europe melts down. If we can get the Fins out and some numbers IMHO we should take off assuming have better than expected results as stated. The world will want to see this is the real deal before jumping in with both feet.
Let's light this candle as I'm tired of being in the dark!
Down zero per cent? How do you figure? I guess if you have no shares it is hard to say you have a loss, but on the other hand when the deal was announced and KATX started to tank they rationalized that since BVIG was at .70 you were still ahead. Then BVIG tanked to where it is now. It is like saying gold is at $1816 this morning and getting excited becuase you own BVIG. The only problems are you have no shares to sell (should have them by now) and we are not sure there is anything worth mining even at $1815 an ounce. Gee, maybe if it get's to $5000 an ounce, if that happens investors will come in? Either way most likely assuming gold goes up another pump and dump toxic financier or sucky Ken scams to invest will try their hand for a quick flip and 500% gain. This is if shares are at .14 they will get them for .03 or less and flip them ASAP into pumped news of a big find. We can wait for memory lapes and the games to begin again I fear with this group of crooks. Guessing it will be 2012 or 2013 assuming Ken has enough to pay to keep the claims.
Don't you wish your dad or grandpa put away $50,000 for you in gold at $35 an ounce. JUst think it would be worth over 2.5 million now. Hard to believe.My reasoning on using found gold now to back operations is that selling shares while realatively easy and shows as no debt on the balance sheet, you get very little money and have to dilute a ton. IMHO it hurts current shareholders more than it helps. Of course, if you are an financier you get discounted shares and probably warrants to boot. Warrants while supplying some cash are more dilutive and are an overhang to the price. I do wish we have about 1/10 the shares. That forward split sure seems like a dumb idea at this point, but I guess a few insiders liked it.
Now I see this on the KATX board today-
I rely on Kens judgement, he is why I am here, a believer!
So, despite all the lies about us now ready to be informed, Ken holding back known material and substantial information on RR results for months, not coming clean about the financing, not drilling at all this year, not coming up with the BVIG shares as promised and on and on it comes down to this.
I'm a believer like this is some kind of religion and Ken is God or is it that it sounds like an old Monkeys song. Maybe some people should stop drinking the Kool-Aid. Maybe they should stop lying to themselves that they screwed friends and family getting them into this POS because they trusted a crook that pump and dump his own stock and belongs in jail instead of spending ill gotten gain in the local pub!
I need a new grill. Gimmie the Gold - Fool!
That's right I want the Gold. Give me the Gold!
Reasons stock going to .000001
1)They have no dredges
2)They have no gold
3)THey have run out of money
4)They will never get the Fins out
5)It is raining and they cannot work
6)No market for gold
7)No market for black sands
8)The are taking adavantage or the poor
9)This is a pump and dump
10)This is a total scam
There now no basher need to say anything I have posted everything said bad about SNEY that has been said in the last few months. I do not believe in any of them, but thought I would save time.
what gain of grit sandpaper do you need. Stock going to .000001. Just kidding!
I'm sure that if Ken does not come up with the shares soon he will be in hot legal waters as he used those BVIG to entice us to buy more KATX before the dump. The reason for the delay is obvious IMHO. First Ken and Tim do not have their grubby hands on their shares yet. Second they do not have anyone to finance more drilling. So, they either have to have someone finance them or sell their own shares to do the second phase. Either way this year is DOA. I think they are hoping memories will forget and folks move on so they can yet do another P&D on folks. These guys IMHO are crooks and those boot lickers are no better.
Well, if this is the case then why would they need cash since gold can be easily sold? You see the logic does not seem to hold water. There is no viable reason for them after the massive issue of shares and warrants that will soon bring in tons of cash not to use the gold for any interim needs. If so, it kind of makes me wonder why they are burning so much cash since labor is dirt cheap and they have not bought a ton of equipment.
Maybe all the doom and gloom over the weekend did no good and folks just holding and not falling for the same thing every Monday. Must be frustrating for traders to have no volume and no volitility.
I find it very hard to stomach post like this-
Right on Mappo, this is the time for any new investor to get in,
the price is a big bargain for the potential returns!
Go Ken GO Kat!
I warn any new investor to consider that there has been no communication from Mgt. in what 6-9 months of any substance. Drilling results on RR never fully dislosed. I thought it was illegal to hide material information. Mgt. entice a run up and then the stock of KATX was dumped from .25 to a low of what .015? No drilling in 2011. No financing announced and little cash in the kitty.
So for folks to daily say news is coming, this is a bargian, time to load up is just rubbish and deceitful lies IMHO.
Steve
Heard all the scary stuff numerous times on another board from the same posters. Just another scare tatic to try and talk the stock down to get cheap shares is all. Boo to you!
Unless the Government or some huge mining group builds a processing plant, which would take years to do, then it would be best for us to sell or JV with someone like Molycorp don't you think?
Yes, an annoucement like that sends us through the roof. My question is what are the chances of it happening to us?
Oh no eneter the bunkers the dreaded death cross and barcharts showing sell. Oh, excuse me I though you said death ray. Never might. UR funny
Thanks Marv for the explanation. Let's hope it is soon!
then just like I said 30 more days. I see we are on the same page.
Art, with all the options they put out they should not need to sell any more shares as they will be what close to 1.8 bil. by the time all are out. Also, if, they are processing gold they should be self sufficient and need no more cash. This looks like a pretty low cost operation and labor cost are low. They have very little equipment and should have no debt. How do you expect to get any new shareholders if they do not come out with some numbers? We need new blood to cover the increase in shares that will hit they market, otherwise we tank. I do not want pumping third party groups. All I want is the truth about what they are processing and up to date fins. I do not believe that is in any way unreasonable. Again, if they wish to be view as professional and legit they need to act that way.