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Oregon wage dispute-also keep in mind it is likely that Deinhart's company hired all these people not Dutch and not DH as CEO.
DH tried to sort problems took over from Deinhart and now those people blame DH/DGRI for not getting paid.
In any event Oregon has not been active for over 3 years. DGRI has over $5 million in debt and the creditors are stuck including Deinhart.
Deinhart did not start Oregon thinking he would lose millions. The mining people in Oregon knew far better than Deinhart or DH about the Oregon property they kept working because they too thought they could make money. I am sure that is exactly what they kept telling Deinhart and DH while asking them to send more and more money to Oregon--which they did until there was no more money to send
compensation -it was one thing for a CEO not to take salary/bonus of a company that he owns 100% or even a significant portion but in the case of DGRI DH owns what 30,000,000 out of 750,000,000 for about 5%.
Iacocca took $1 as CEO of Chrysler but people forget he also received a pile of stock options which were eventually worth tens of millions.
DH is not perfect, I disagree with some the decisions (perhaps because I have limited information and if had all of DH's information perhaps those were the best decisions). Despite all of that management does deserve to get paid.
Personally I think DGRI should have cashed in on the Shamika shares it was being way overpromoted, over valued all during a time where DGRI desparately needed cash. I would love to know who sold Shamika shares.
compensation of $145,000 for DH--old disclosure from 2010-
what is your point? did you expect DH (or anyone else) to work for free?
was it actually paid? or merely accrued. recent disclosures also show DH has lent money to DGRI (200,000+)
was compensation paid in cash or shares?
no I don't think it would have stopped the negative comments. I certainly have my disagreements with the company concerning the convertible debt going all the way back to when the shares were at $.60. Even at that time DGRI had huge amounts of debt (over $5 million?) the debt should have dealt with but then perhaps DGRI tried and failed because the creditors were unwilling, bankruptcy could have been an option but DGRI choose alternative courses of action. Hindsight is always 20/20.
DGRI chose to spend money outside of Basin Gulch in an attempt for diversification and leverage funds to actually make a difference at Basin Gulch. Basin had so much money spent on it from prior owners that perhaps spending another $100,000 might not have made a difference. I don;t think DGRI spent all that much money on other projects according to disclosures it was all spent on overhead, legal, audits, interest etc
The mining business is expensive and so is being public.
DGRI bankruptcy?? shareholder plan--if DGRI has no cash. (cash to keep properties) then what is their to reorganize? no cash minnie moore (cash payment and work obligations-does bankruptcy hold those oblgitions off?) Basin Gulch-same story work and cash needs to be paid-does bankruptcy hold those off?
even if the answer is yes or maybe yes then DGRI actually has to do it? how do they make a filing with no cash? or little cash?
no cash to pay RP is a real real bad sign, no answer when calling atlanta is a bad sign, no response to emails is a bad sign.
I agree that RP foreclosure is not a completed process. I pointed it out as part of comment relating to my opinion that I don't think RP has benefited from DGRI or Shamika
dgri is not a scam, the properties are real and very good. what is bad is the financial management led by Hollis.
pertu loses house because of DH? as bad i feel losing money because of DH\/DGRI I feel worse for RP. Why did DH do this?
check out oregon foreclosure notices. RP's has received notice so I don;t think RP got money, check out DH and you will see a totally different lifestyle.
follow the money-IMO RP had Basin Gulch in Aultra, DGRI aka DH made promises IMO RP a well known geo got taken advantage of by a sophisticated financial guy-
where did DH get all the money to advance to DGRI in the past year or so? sale of Shamika stock?
who actually sold Shamika? not RP, not DGRI so who?
no but then who do those directors represent? Hollis? themselves?
in theory doesn't DGRI already have independent director? Lance Rosemarin (sp?) and perhaps Keaveney? who is the former cfo but i would think that at some point he becomes independent.
certainly there could be bit better disclosure on compensation and details on overhead
it takes money to do work. people/companies who do work for DGRI have a history of not getting paid. at least according to the financial statements debts keep climbing-everyone one wants to work but they also want to get paid.-if shares can be issued then how does DGRI pay for work?
no money, no drilling, no money no samples no new shares to be issued then no money
this could be why drcal suggested receivership--
are creditors taking action?
SEC filings-IMO the amended SEC filings were not meant to do anything for shareholders but rather to satisfy the SEC. I suspect this was the fallout/results from the SEC investigation which basically resulted in the review of past DGRI filings and current filings made by DGRI
some posters have speculated that the amended filings were the result of some big company doing a review. IMO probably not only the SEC has authority to make a company filed amended filings. yes occasionally companies will make amended filings on their own but IMO given the number of amended filings and the disclosed SEC investigation I suspect that there is a connection. Not a big deal
but not a "bone" tossed out to shareholders. Any "bones" tossed out are done via the conference call or possible the messages from montanamike
no doubt that mgmt had plans but did those plans happen? was drilling done? delayed? postponed? completed? cancelled?
samples received? sent off for assaying?
weather delays? mechancial delays? people delays? perhaps everything was done, on time? early? late?
we have no idea
possible reasons
-mgmt incompentence/indifference
-no results
-results but negotiating for surrounding property and thus need for secrecy to avoid tipping off competitors
-vacation,sick time, Holiday time
-more amended filings
could be good news could be bad news or could be no news at all. I suspect good news would have been quickly communicated. Given lack of cash I suspect no news at all.
and if mgmt does not produce then what? change mgmt? give up? take a loss?
I believe in the gold price. I believe that properties are good. actually really really good.
financially DGRI is a mess and has been mess. Two different CFO's have done IMO absolutely nothing. This might not be totally there fault since ulitimately it is the board of directors who must take action. but one of them is cpa and the former cfo, Keaveney, Hollis has a financial background
what happened to the oregon properties? lost? given back to owner? what?
Is anything still owned by DGRI?
too quiet--
-no answer on DGRI phones, is anyone there?
-is work really going on? by work I mean mining/exploration/testing not SEC filings
-very distressing to read of DRCAL's comment about receivership-what has he recently learned?
-this company has what 5 employees? one mining person Pertuu-what does everyone else do?
last year there was a big announcement about a new law firm lots of speculation that those connections meant something then nothing.
this a change of CFO's with speculation that money would be comming in and higher share prices-then nothing (no money other cheap toxic convertible)
overhead of $100 to $150 per month for what? I appreciate the time, effort, energy and costs it takes for SEC reporting but all of that was to lead to an uplisting which now no one mentions at all and DGRI is still on the pinks.
there is probably snow on the ground in Idaho and Minnie Moore making work more challenging. Is anyone one Site? has anyone been on site since Oct? Sept?
I think we can agree that DGRI need to release more information
the technology for recovery was different in the 1900's than it is today. That's over a 100 years ago.
I guess this is why DGRI has technical work to do.
I was hopeful this would be fast
positive news-some historical assay/production values on the property would have been nice-speculation that the parallel structure might be of a similar size to the past structure would be nice and most importantly a road map to production
1) drill,test assay then production on parallel structure
2) tailins-test assay then production
how big are tailings? there can be very very profitable-no mining costs-old timers left anything below a certain cut off as not profitable for them when gold was $35 an ounce. varies from place to place-probably in range of about .10 per ounce. put grade in comparison to new open pit operations which are making profits at .02.
tailings obviously have no mining costs so the economics are based purely on how many tons and the grade. key is the contained ounces of gold
that approach would benefit everyone
too true-it is also too late to invest when the promo's have started.
the true finds take time to develop. There is no get rich quick in stocks- unless you get very lucky
there is comfort in knowing a whole bunch of SEC filings got made and controlling shareholders and management have a plan-we are just along for the ride not knowing exactly when or where the ride will take us
I am relatively new but if you go back and read the past 3 years of Bandera posts, Bandera's news release, SRGE posts you will get the information.
There is just a HUGH amount of information. Do your DD
is he?
Why did Bandera do all the other stuff?
there is always shares available
immaterial in my opinion. no need for further DD on SRGE why? even if all SRGE statements are accurate I would still not buy the shares why? SRGE is only claiming surface rights which IMO are not significant.
two other parties Bandera and Barnett are fighting over mining rights. IMO that is 80% of the battle. the surface rights are needed but if no deal can be worked out with the locals then the mining right people go to the gov't
IMO toss some money at the local people and the surface rights will be yours
What does SRGE have? surface rights (at most) so what??
can you prove otherwise?
SRGE may change!! they do have an interest perhaps they can settle with Barnett and Bandera--clearly they are involved somehow on the property
strange that the moderator and the assistant are so very very negative about SRGE-wonder what their agenda is
mine? interested in the property and wondering who has the upper hand. so far a 3 legged race with Bandera and Barnet -my handicaping?
Barnett at 40%
Bandera at 35
SRGE at 15
local or unknown at 10%
?? I don't believe SRGE has mining rights and IMO the surface rights are not very significant.
proof please that SRGE does not own surface rights
proof that they do? website, statements made on their website.
If you disagree then file a complaint with the SEC
please look at SRGE website and financials for "proof" of what the company has. please review and comment
if you feel the website is not accurate please contact company-please post your results on this board.
constant posts of "no proof" are meaningless
no I am not selling-just frustrated and now wondering how long should anyone keep holding.
my attitude is probably not unique and may account for some of the selling though-
yet here they still litigating in Mexico- I am just reading what the two competing groups are saying and it just so outrageous on both sides.
two groups of just the worst kind of people who somehow after years of bad actions are not in jail
my take-legal dispute with lots of mud slinging all of which is meaningless-all about control of very very rich silver mine while the shareholders get nothing
solutions-settle divy up the mine give control to someone else.
lets move on--only the attorneys are making money
maybe not -see post #3737 posted in Jan 13 2011-over 8 months and counting
how long do I have to wait to be consider "patient"?
this has been speculated for so so so long and more and more "cheap" stock is getting sold.
When do you give up? or long do you hold on? how much more "cheap" stock do you buy?
what would "proof" be in your opinion?
SRGE has stated that they own surface rights-that is proof-if SRGE is not accurate then it is fraud.
more good news--cheap stock is still being sold. of course a year ago the cheap stock was at $.80 and now the cheap stock is at $.55.
A year from now I wonder what the cheap stock will be selling for?
any guess?
proof? SRGE says they have it. does anyone else say they have it? Who is disputing it? BArnett isn't---Bandera isn't
from my point of view it seems clear that three groups maybe 4 are involved. Barnett, Bandera, surface rights and SRGE
This is a mess
so? someone has surface rights. if they doing nothing with it then they do nothing with it. a mining company still has to deal with it.
looks like a large part of Texas, New Mexico or Arizona. good for grazing cattle or sheep- water was probably needed so stupid person decided to breech the pond laced with cynadide-not knowing there was cynadide there- and killed the cattle. I am seen/heard of stupider things. no great conspiracy just stupidity-then the finger pointing from these two warring fractions who can not manage or agree to manage the property
sad
yet despite all the ranting and raving Bandera has lost and SRGE is sitting on the property.
mexican law comments from another public company involved in Mexico
Mexican law recognizes mining as a land use generally superior to agricultural. However, the law also recognizes the rights of the Ejido to compensation in the event mining activities interrupt or discontinues their use of the agricultural lands. Compensation is typically made in the form of a cash payment to the holder of the agricultural rights. The amount of such compensation is generally related to the perceived value of the agricultural rights as would be negotiated between the Ejidos and the Company. If the parties are unable to reach agreement on the amount of the compensation, the decision will be referred to the Mexican government. If we are ultimately unable to successfully negotiate such an arrangement or, if we are successful in negotiating such an arrangement but are ultimately unable to maintain such agreement, it may impair or impede our ability to successfully exploit the mineralized material from the portion of the Property where these concessions are located.
good DD and interesting speculation.