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Thank you Bobby Joe!
Bobby Joe is there any chance of getting a picture of the progress on the smelter building this weekend?
Reagan defeated Carter in 1980. Two years makes a big difference. Look at where we were two years ago - very few claims, no mill, no dore bars, no SHM, price $.01 to $.03. Now look at where we will be in two years ...! Revenue in two months!
Thank You Falcon for finding it! This includes the presentations plus the question and answer period all in one location for easy access.
Hurricane - maybe this link should have a sticky.
Now I understand - when you actually see PQ and RS on video saying everything that those who attended say that they said, reality sets in.
Thanks again Take! Great Job!
With all due respect Carmine, relax. The concrete for the foundation to the smelter building has barely had time to set up. Things will not happen overnight no matter how many times that you ask that question. As others have said, we are progressing - you will be rich soon enough.
I wonder what the tone will be on November 15th when the third quarter report comes out (ending Sep 30th), without any gold having been sold and no revenue listed.
Some will be upset, but we have been told that the first shipment of dore bars will not go out until November. Again patience.
Takeinagain,
Thank you for the video. This should silence the detractors about what RS had to say about the progress on the mountain. This is not word from a shareholder, but rather word directly as it was put out by RS. I spent much of the day in his van on Saturday during the tour. The more that I listened to him, the more impressed that I was about his knowledge and continuing involvement in supervising the team of geologists. He has all of the maps and a great (first-hand) mental picture of the mountain to draw from in advising the members of the team. One important point from his presentation was that one of the new geologists has much experience working with the regulators. This will be a great asset in moving SFMI ahead.
Thank you CapnDon. It was great meeting you while you were talking to Bobby Joe.
The pictures looking out the windshield of the van will give everyone an idea of the narrow roads that I spoke of in my Saturday evening post.
These are the best evidence of all of the progress taking place
in Idaho.
Thanks again - my wife saw me and now there is proof of where I ran off to for the weekend!
IW,
PQ spoke in a similar way when asked about financing. He said that the board was seeking out the right type of investors - not ones who would want to take power in return for their contribution. Something to the effect of, we don't want to sell the farm just to get financing. Patience will allow the company to continue moving forward.
bluesideup,
A very good answer. I confirm that you are correct from my notes from the meeting.
Very positive post from Towndrunk!
This is not to answer any questions - the following was my impression of the past two days:
The SHM meeting was well organized, from the transportation to the tour of the grounds - to the professionalism of those presenting (PQ, RS, RK) - to the Dore pour - to the meal provided, all was performed with the shareholders in mind.
PQ led the walking tour to the area where the forms, trenches and rebar are in place. The major concrete pour is scheduled for Monday. This will be the smelter bldg. The size appeared to be equal to the current mill bldg and the location is 50 to 100yds from the mill. All will be inside secured area. Completion on-line for current calendar year.
Hauling of tailings continues daily (M-Th with Fr being vehicle maintenance). Many tourists on the mtn Fr and Sat. I was impressed by the width of the roads (or lack thereof). In many places, two vans could not pass side by side. Sheer cliffs should one run off of the road.
Work continues on the Sinker Tunnel. Discouragement was expressed about the slow process, but the regulations that slow things are being addressed daily.
RS very knowledgable and willing to share knowledge of the steps necessary to find what everyone is looking for. Again, the process is going forward - not an overnight procedure. Have increased the number of claims on the mountain by a significant number of acres - filling in spaces where there were gaps from where others had claims.
Mill is scheduled to be expanded by 2/3's. Also, this will eliminate the external holding ponds.
As others have mentioned, gathering information for the NI 43-101 is inprocess.
Overall, a much different look from last year. Very busy with much construction around the Mill.
Shook hands with and thanked Bobby Joe for all of his information.
There appears to be a lot of money being spent on this
movie set
Explain the corrections to my math in more than four words!
After reviewing the 10K for 2010, I see that 61,898,727 shares of stock were issued to various firms for consulting services (At a value of $6,957,093 or about 11 cents a share). IF someone sold 500,000 shares per business day for 120 days they could be paid for their services. 120 business days would take six months to accomplish.
I use 500,000 because not every share traded each day is sold.
That would leave very little room for any other selling other than that of the consultants.
It seems to me that if this 'scam' was also selling shares, that the price would be back at $0.02 or less. Is this firm processing 500,000 per day?
Will someone please enlighten me as to how much money has actually been paid to consultants? The 10Q's and 10K's show dollar amounts that were paid out to consultants, but those same reports, also show that very little revenue has been received by the company. If the fees are being paid in cash, where is the cash coming from? If the fees are being paid in stock, why are they shown on the reports as cash when some here keep saying that it is stock dilution?
Has anyone(PQ's wife)really received cash for consultant fees? This seems like a lot of speculation.
Again, please make it clear to those of us not in the accounting department.
It is only the first 1 1/2 hours of the trading day and we are nearly back from the lows.
On the 15th, the 2nd Qtr Rpt will show no revenue and there will be many disappointed by that - but we will have most of August and all of Sept to produce 3rd Qtr REVENUE!
The share price will continue upward - patience. Don't be left out when it jumps!
Rocketstocks,
you have said it twice this morning and I agree that there is no revenue. That is because they have not sold the Dore Bar. I do not believe that they will put it on the shelf and save it like the first dollar that a business puts in a frame. Once this Bar is sold there is revenue! Again not profit but revenue - which is the first step toward profit.
Add .137 to the list.
Rabidgod,
This is the first viable explanation that I have seen on the subject of consulting fees. Thank you for sharing. This would explain why the people at the top are not complaining.
Bouts, I may not take as much as many others will, but I do indeed plan to takeittothebank!
Venting is good. Especially, if we start talking about the venting seen at the Sinker Tunnel. That will be the best venting that any of us have ever been involved in. That makes the future bright!
EboJr,
I read almost every post on this board and have been enlightened by arguments on both sides. It seems that this week you have fallen into the trap of discouragement. There are a couple of posters that I respect, who have switched sides for a couple of weeks, only to return as Strong Longs. I suggest that you sit back for a couple of days and ask what is a long (and not get caught up in the 'hurry and give us results' day to day rhetoric)? Payday is coming soon - keep the faith!
The $7.2 million - 8K - today will produce the $10's of millions from out of WEM.
EboJr,
Are you glad that you stayed? Many happy days ahead!
Rick,
You talk about candles on your charts. What is it called when the tide wipes out the right side of the candle and it keeps going up? $$$$$
And the NR sets up the next NR soon!
The name RS was not released until after his last official day with his previous company.
Hmmmm!
Just more fuel for the debate.
Today ends the 1st qtr. We have no revenue, but that is old news just like the 10K.
Great things ahead!
This is not off subject - it is fact.
Delete again if you wish.
Anton,
Thank you for reminding us of the positives in the last 90 days.
It is good to have you back.
RB, Thanks. I thought that I was reading it correctly.
RB,
Please explain what this means from page 20 of the 10K:
------------------------------------------------------------------
From January 1, 2009 to March 3, 2010, our Class A Common Stock was traded on the Pink Sheets, LLC under the symbol
“SFMI.” On March 4, 2010, trading in our Class A Common Stock moved to the OTC Bulletin Board, also under the symbol
“SFMI”. The following table summarizes the low and high prices for our common stock for each of the calendar quarters of 2010
and 2009.
2010 2009
High Low High Low
First Quarter 0.07 0.07 0.07 0.02
Second Quarter 0.23 0.21 0.05 0.02
Third Quarter 0.19 0.16 0.03 0.01
Fourth Quarter 0.19 0.17 0.09 0.02
There were 131 shareholders of record of the common stock as of December 31, 2010. This number does not include an
indeterminate number of shareholders whose shares are held by brokers in “street name.”
------------------------------------------------------------------
It seems that I have heard some upset posters who bought SFMI in the $.30's and $.40's. Am I reading this wrong? Maybe this is a typo like the year 2009 was.
Bobby Joe,
Once again, Thank you for the pictures! Is the large pile in picture 013 being set aside for future processing? Your pictures have been showing smaller piles (as the one to the left) of crushed material coming and going, but the large pile seems to have been there since it was first covered for winter. Is that a pile from the first group - before the OSO?
Bank
Ebo,
How long have you been here, a week or two? Give it another week or two before you jump ship. At least see what the 10K has to say. The Dow hasn't looked very good during that same timeframe. You did say that you were into the Large caps correct?
oryx,
It is good to have you back.
Thank you,
Much compensation and kag sfmi, I stand corrected.
Feb 15th, because the quarterly is due out. The quarterly report would have to show the revenue for that quarter. The annual cannot show anything that is not in one of the quarters.
If my memory is correct - this 4th quarter is still reported separately. Not just combined with the annual. But usually submitted close together.
TT,
The Jan 11,2011 PR stated that the revenue from the gold and silver will be reported in the year-end financials:
1) In 2010, SFMI erected and started the mill and shipped and received compensation on Gold and Silver produced during the initial start-up of the Diamond Creek Mill which will be reported in the year-end financials. On average, the mill currently operates at two-12 hour shifts.
Why do we keep seeing posts expecting the results any day? Feb 15/16 we should know what the company has 'not been transparent' on.
Thank You for the pictures Bobby Joe. Pictures 011 and 019 show that the pile to be processed has really grown. The next shipments should be much larger.
Where did the news about a geologist be added on Sunday come from? Did I miss a report?
The Market closes for three days and we all have a chance to take in nature. Bobby Joe gets to see this everyday - and he still appreciates it. Today we reflect - Monday we go back and argue about PR. A GOLDen sunset to 2010 to all.