Just trying to make a buck or two!
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May I humbly offer another group to the Memorial day remembrances? I would like to remind everyone to include the men and women from all wars and conflicts who returned to us broken and wounded both physically and mentally. Their lives were changed because they served their country and protected the lives and fortunes of people like us. They are the forgotten heroes.
We can't help those who made the ultimate sacrifice, beyond offering our thoughts and prayers. We can and should do everything possible for the survivors.
Pray for them and their families too. And when you get a chance, remind the bureaucrats in Washington to give up a bit of their own benefits and pay to help these heroes with better care and support than they are getting now.
These should be the ones with the best healthcare and family support this country has to offer. We, as a nation, owe it to these brave people. We asked for volunteers, and they stood and answered the call.
Please do what you can to make sure these heroes are not penalized for their bravery and service. The injured are soon forgotten when the shooting stops. Unfortunately, their sacrifice continues daily and in many cases, last for the rest of their lives.
God bless them and their families. Families suffer and sacrifice right along with the servicemen and servicewomen.
Thank you all.
Help if you can, in any way you can.
Now that's my style... Double entendre at dinner! Got to go on 2 for 1 special nights. Mmmmm!
Now I thought that only protected you from "double talk". You think it would work for the "double entendres"?
Hi RKY!
I have trouble with some posts' meaning, but simple words mean what they mean.
Calling a "bond" a "fine" is just incorrect. It may be an imposition, or financial difficulty, but the bond is returned. I have never had a fine returned.
I believe the upcoming DRMS ruling is making people nervous. If they are betting against it, they have good reason for being nervous. CGFI has been working overtime to get the DRMS's ok.
But that is just my opinion.
Have a good one this weekend, RKY! Enjoy the extra day off.
I plan on grilling up a bunch of good "vittles" and gaining a pound or two!
There's the problem, no one wants to be spoked! (OUCH!) You would think those fenders would protect you from the spokes. But then again they are repeat fenders. (Not many people watch repeats.) Maybe I misunderstood and the repeat fenders are just recycled? (I always buy new fenders.)
LOL! Yes, and like real estate it all is a matter of "Location, location, location"! A good view increases the value and effect too!
#1 rule of investing, don't risk more than you can afford to lose all of.
Have a great long weekend LT!
Hope you don't have to work and can enjoy the extra day.
And I respect that about you LT. You don't try and "save us" from the "evil pinkie" CGFI.
Just like at a racetrack, "you place your bets and you take your chances". No one to blame but ourselves if we loose.
Sincerely, I wish everyone good luck!
CGFIA
So true, LT.
I appreciate your point of view, as do others here. It is good to have an honest debate on the effect the facts will have on future developments.
Thanks for your POV, sir!
100% correct. Give that man a mug of Grog. That will effect your memory, Debu!
Yes the $500+ bond it just that, a bond for environmental surety. If, and only if, you don't clean up when your mill is finished work, then they (the DRMS) can keep your bond.
Hey, mid day Friday 2's for CGFI! What's next? Its been so long I forgot!
Little Joe form Kokomo! Let's just skip 3's and go for the 4, the hard way! (2+2)
"Nothings been done except submitting plans of action."
Detailed engineered plans, the level of which were submitted to the DRMS, are not "nothings".
Soil conditions, seismic studies, avalanche contingencies, containment provisions, engineered drawings based on complex calculations, plus dozens of other detailed documents (500+ pages in quadruplicate copy) constitute a great deal of work and expense.
Your post diminishes the value of every industrial engineer who ever sat at a drafting table.
The DRMS seems to value and require these documents. Most importantly, it brings CGFI one step closer to the reopening of the POW mill. When the plans are accepted and approved, the Cease and Desist ORDER will be removed from the 18 year old permit that already has been granted to CGFI. (m1984-049)
Oh I see you have the bond figure now. (My help wasn't necessary to find it, I guess.)
By the way the penalty for doing any operations during a C&D order is "not less than $100, and not more than $1000 per day" that the operation violates the C&D order. The $500K bond is for environmental cleanup surety. It is not a fine. Never has been.
Way too many errors in that post.
Look at it from a different angle; more mining means more taxable income for the state.
You are right. The slurry and ponds seemed like another "Anamas River disaster" in the making to every inspector.
That was a real mess. I know everyone got really scared about the possibility of it happening in their own back yard.
The cost of cleanup was a big hit for the state too. It should have been borne by the company that caused the disaster, but somehow they got away with only a small % of the cost.
The terrified population saw their waterways becoming septic flows of dangerous chemicals, and rightfully so. Too much fear to overcome with the "same old way of doing things".
Dry stacking should eliminate a lot of those fears and environmental worries. Although there are still liquids used in the processes, and a possible pollutant risk, it is fractional by comparison.
The more you read about dry stacking you start to wonder why no one thought of this solution years ago. It's not really new. It just took someone to look at the problem differently and put two and two together. I will bet a lot of mills are asking "why didn't we think of that?" Yes, it will be a bit more costly in some ways, but at least the mill will be operating. The rise in gold prices has made the extra cost moot.
The Dry Stacking concept applied here gives me a lot more confidence in CGFI's future.
JMHO
I am afraid to ask, but how does one wear a "diphthong" properly? Or am I using the term incorrectly? (EG: Diphthong keeps creeping up my crack.)
Maybe I have diphthong on backwards?
Yes he did, Kuni, but he was not the originator of the permit.
The permit came with the purchase of the mine from Wildcat by Furguson. It was originally granted in 1984 (thus the M-1984-049 number. You probably ready know that means it was the 49th permit granted that year.) Your linked document is from 2007.
The same procedure occurred when (what is now) CGF bought the POW facility from Ferguson.
The permit is, by law, transferable. CGFI had the permit transferred into their name in 2008. (see any of the quarterly reports for CGF since 2008 for those details.) That is roughly when the mortgage CGFI has on the POW originated.
I believe that Ferguson had a hand in the operation of the mill before he purchased it from Wildcat. I believe he was operations manager at the mill. I do remember reading Ferguson has extensive experience in mill operations.
On a side note, if you noticed, not once, in that 10 page document does it mention a change in the status of that permit or a change in the permit's classification. All throughout the document it clearly states that the mill was subject to a Cease and Desist ORDER.
(As a state agency it legally has the ability to issue that order. see:http://mining.state.co.us/rulesregs/HardRockRulesAdoptedAug%20122010actcites12032010correction.pdf for that information.)
The penalty for failing to comply with that order is stated as a fine of $100 to $1000 per day of non compliance.
The only penalty where the permit can be rescinded is outlined in that Act. But that is a topic for another time.)
So the claims we have seen that the permit is classified as "CD" is a total fabrication. Once you are granted a permit, as long as you pay the fees yearly and stay within the guidelines of the Colorado State regulatory act, the permit remains in effect.
Wow, Kuni. You are really digging through those records at the DRMS. Are you thinking of asking for a seat on the board of CGFI?
When this company becomes the monumental money maker it has the potential to become, you can write the history of CGFI and have it published.
I hope you are taking notes!
Let us know if we can be of further help. The collective knowledge available on the board is extensive.
GLTY
CGFIA
I was asked this question today by a Doctor I know:
"If one in five people suffer from diarrhea, does that mean the other four people enjoy it?"
I apologize for the topic. But it did come from a Mayo clinic graduate.
Doesn't that make it a legitimate medical question?
True, LT. I was just looking at the size of the staff of CGFI and who they would use. And since Fearn is a "newly appointed" board member, with Guyer the financial guy, it could go either way. That is why I said it was an "assumption" on my part. (I admit those when I make them.)
Thanks for your input.
I collect it all and try and put the big picture together.
GLTY
CGFI
Hi Kuni,
As of 5/1/12, the DRMS shows the contact information for Pride of the West, Permit number M-1984-049 as Stephen Guyer, and the status as "Active Current".
Now is the contact info the "owner"?
Seems to me that the owner would be the contact person since the contact is the person the DRMS goes to for paying the fees associated with the property. So the "owner equals contact info" is just an assumption by me.
Keep looking, Kuni. It is tedious, but you learn a lot of information and soon come to see that not all things stated on this board are the truth.
Thanks for sharing your DD. I am sure there are readers here who appreciate the catch up info you are presenting. I sure do.
GLTY
CGFI
Yeah, I believe it was an environmental nightmare. Really did need a lot of fixing up. So did a lot of other operations. That is what this whole DRMS objective is about. The catastrophe at the Anamas (sp?) river made a lot of people really upset, hence the big push to clean up things. Now everyone is reluctant to see a mill with ponds.
Enter "Dry Stacking" to change the viewpoints.
Now all CGFI has to do is prove to the DRMS that the storage facility is satisfactory.
Awful lot of work for a couple of mines worth of Gold, isn't it?
Keep digging, Kuni. If the mines and mill are delayed you may be the first to hit gold!
GLTY
CGFIA
Hey Kuni, you are correct about the mortgage and ownership, and that is the way it applies to CGFI.
I explained it all in my post #45368 about 2 weeks ago. I even gave a link to a legal site where a lawyer explained it: http://www.avvo.com/legal-guides/ugc/what-is-a-mortgage-basics
What is the definition of insanity? Repeating the same thing and expecting a different outcome? I guess that makes me insane. I explain it multiple times and I expect a different result.
Oh well, I will learn someday!
And kuni, you are doing the best thing you can for yourself, verify anything you can on your own. Then you will know the information is legit.
Yes that does look like it. For the first few years no big effort was made to correct the problem. Old ways of addressing the problem was the approach used. It took a new way to look at things (dry stacking) to get to where we are today. That and a monumental effort by Mr Guyer and company.
Please show us where you are getting this from. There is no such information on the DRMS web site, and no compliance penalties reported by the DRMS, at least any that show penalties, as you assert.
And this statement is so ambiguous, I would like you to please explain it.
My misunderstanding. I thought it referred to the Heap leaching of the gold through a chemical process.
See, I learn something every day.
I should have known better. In Situ, "in place" basically, right? It has been way too long since my Latin classes!
Thanks for the help NV!
Here is the way the DRMS classifies the POW as of January 2012 in regards to Temporary Cessation.
http://drmsweblink.state.co.us/drmsweblink/0/doc/952395/Page1.aspx?searchid=fa580911-d0dd-4b73-ae6f-87524414fe44
Presently the status is "IS" or "Intermitant Status".
Those are your words, not mine.
How does one "comply to violations"?
To be allowed to be in the TC classification, the POW will need to follow the requirements listed in the Act:
1.13.2 Indications of Temporary Cessation
(1) there are no personnel working at the site for one hundred eighty (180) consecutive days;
(2) there are only security personnel at the site;
(3) there are personnel other than security people at the site, but they are engaged i activities which can be described as maintenance or housekeeping, or related activity;
(4) there are personnel at the site, but they are engaged in activities which are n significantly moving the site towards completion of the mining operation. The Board wi judge these activities in relation to the size of the operation, the nature of the ore body an other facts;
(5) there is no sale or processing of material or movement of stockpiled material;
(6) there is only minimal or token excavation of mineral or other material; or
(7) mine development has ceased and mining has not recommenced.
And if you look up the permit, it is listed as "ACTIVE". The C&D does not effect this classification, not according to the DRMS.
Do I need to quote your own post again to show you where you said that yourself?
Outlaw, while everyone is looking up the definition on the link AK supplied, let me give you the way it is really used. Temporary Cessation is used to classify a mining operation that is presently not in production. It has nothing to do with violations. It is used to classify the operations for purposes of the amount they pay to keep their permit up to date. Simple as that. Hope this calms your nerves.
I am just one of the helpers, Bren. The other mods are the real experts, and we have a lot of great DD members who help out with the facts on CGFI.
Keep up the work everyone. Knowledge is power (and ultimately profit). Confirm and verify everything you can. If someone can't provide proof, then it is proper to assume it is just an opinion.
Thanks everyone!
GLTYA
CGFIA!
TY, Goldbug4! Glad I can set the truth and facts out for all to read and decide on their own.
I know the financial reports can be dull reading, but they are one of the most reliable sources of information about a particular company. After all, they are legal documents provided to the SEC and are sworn to by the officers of the company.
So who are you going to believe, a post on a web page, or a SEC document provided to detail the state of the CGFI?
Not always,
I am having trouble with the share count totals. The figures are getting tough to keep track of.
I'm looking for a way to automate the process for us all and still keep the individual info private.
If anyone in the Armada can suggest a way, I would appreciate discussing it.
For all you Armada crew out there, the total number of shares held by us is in the 2.4 billion range. (that is about as accurate as I can get right now. Too much Grog I think!)
2.4 billion is about 10% of the float.
Not bad for approximately 170 guys and gals!
Good luck to you all!
CGFIA
"Technically, Cgi doesn't own the permit, I believe fearn does, thus his inclusion with Cgi."
>>>TOTAL FABRICATION<<<<<
Look at the 10Q Kitt. You are sadly mistaken. The mill/mine permit for the POW WAS transferred to CGFI in 2008.
Page 15 of the 10Q:
Quote:
"In March 2008, the Colorado Division of Reclamation, Mining and Safety transferred the mill permit into our name, and in connection therewith, we posted a bond in the amount of $318,154 with the Division in the form of a letter of credit. We have recorded an estimated asset retirement obligation of $656,570 in connection with our estimated future reclamation costs."
Transferring the mill permit into CGFI's name is in direct contradiction to your constant claims that they do not own the permit.
Your claims are false.
Your DD is proving to be poor.
KZ, this is what the iHub rules say about statements like this:
"Veracity of posts and credibility of the author is determined by the reader."
If you know it can't be true, then you can call it as you see it, information wise.
After a while the source will naturally develop a reputation as to the "truthfulness" of the posts.
But the rules also say, "attack the post, not the poster". So calling the poster a liar is not allowed. Calling his post a lie is.
Just a friendly recap of the TOU's.
CGFIA
POW is owned by CGFI. It was purchased from Fearn. It states so in the 10Q.
CGFI owns a lease option on the Silverwing mine.
The way that works is the company paid a fee for the right to operate the mine. The proceeds of the mine go to CGFI and a % of the metals taken from the mine go to the owner. The actual ownership stays with the present owner. (The 10Q does not say who the present owner is.)
Here is a link to the 10Q:
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7924151
By the way, all this misinformation about the permit not being owned by CGFI is absolutely wrong. Here is the statement from the 10Q that unequivocally states the title to the permit has been transferred to CGFI.
Page 15 of the above 10Q:
Quote:
"In March 2008, the Colorado Division of Reclamation, Mining and Safety transferred the mill permit into our name, and in connection therewith, we posted a bond in the amount of $318,154 with the Division in the form of a letter of credit. We have recorded an estimated asset retirement obligation of $656,570 in connection with our estimated future reclamation costs."
That should satisfy any one who believed otherwise. And that is a fact, not an opinion or semantic spin of the truth regarding ownership of the permit.
Hope that covers some things for you Biowise!
GLTY
CGFIA!
Duck, those flying accusational things can really decapitate your head! (specially if you are running a headage fund)
Duck! There goes another one!
De-BOCK-le, isn't that where they steal your Octoberfest beer?
http://en.m.wikipedia.org/wiki/Bock
Over my dead bock-ey!
Or one's vision after 7 or 8 good stiff drinks?
I know it did hit it on inter-day at times. I believe this is the first I have seen it close at 0.