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This looks poised for a breakout, and if it only gets to $45 by the end of the year, plus a 7.5% dividend, that's a 20% profit from current levels.
$100 oil is here to stay and natural gas has bottomed out.
Low volume today, but level 2 says there's a bunch of people who want in.
Watching this stock is like dropping a rock down a well and never hearing the splash. No PRs, no filings, no uplist, just the odd 'bump' as it hits the sides on the way down.
Changed audit firms... AGAIN!? Smells mighty fishy.
If it looks like a fish, walks like a fish, and barks like a fish... you might want to quit drinking the koolaid.
What's with the huge daily swings on this stock on good volume?
Well, we've burned most of the second week since filings were supposed to come out. Maybe they'll get it done three weeks late.
Surprised we're holding the 6's now that we're TWO WEEKS since filings were "supposed" to come out.
Heading for a zero volume day today?... not looking so good right now.
Filing deadline missed, supposedly they're holding back a Q that's done while they work on the other Qs and the K instead of releasing what they have? Hmmm...
SNEY TO DA MOOOOOOOOOOOOOOOOOOOOON!
LOL! Friday afternoon and STILL no filings! I called that one from two weeks away! I'd be willing to bet there's no filings NEXT Friday either!
If SP is telling you May, bet on things starting to move around July.
Sorry, I meant to preface that with "supposedly" since the warrant holders signing off on anything was an unverified rumor.
My post was merely meant to weigh in that I think the paperwork is probably more complicated than we realize, and that we should keep in mind this is a pink sheet, CE, cash-based, company operating in the third world, so we can't always expect them to behave like a big blue-chip.
I think our day is coming, but I have my doubts as to how soon. I'll stick by my last guess of June-July because we still need 2Q's by EOM and a fourth Q and K shortly after.
Keep in mind: this is a very small company, being run internationally, with a focus on production instead of paperwork, in a third world country, operating in a cash-only environment, issuing pp and warrant shares to people all over the globe to make ends meet, and supposedly those warrant holders have to sign off on the warrant valuations for the filings. I would bet the paperwork is a trainwreck.
I agree, but what keeps the PP and warrant holders from selling once we get current and CE removed? If I remember, most of the shares issued were for partial payment of the dredges and people's services. Now it's a year later and I'm guessing those people are ready to cash their paychecks.
That's why I'm skeptical to buy at these prices. I think a lot of the hype is already built into the pps.
We know they will eventually get current, that's the same story that's been on here for a year now.
What this boils down to for me is not losing more than I have already. Given past performance, I doubt they will have both Q's back from the auditors and filed in the next 9 trading days. When they miss that target, we suddenly need 3Qs and a K to get the CE removed and current.
I think I'll just wait for the sell-off at the end of the month.
Can't make money if nobody is buying. Can't get shares if nobody is selling. Either way it's no good.
Hope next week shows some higher volume than this week has. Maybe the PP or warrant holders will start selling some since they should be due to come off restriction.
No offense, but I thought THIS week was supposed to rock in SNEY land. Next week will likely be more of the same. "Soon", "Almost", and "Next week" don't cut it.
The auditing process has slowed the filings down exponentially more than anyone expected in the past, and I expect the same to be true now.
In December we only had 3 filings to get current. Now we have 2 filings to get current. At that rate, I stand by my original guess that we may see one Q in the next 3-4 weeks, but we won't be current until July or August.
Plus, if the rumors are true, and we're STILL stockpiling material then I doubt there's any revenue. No revenue = more dilution.
In order to deserve a $10M market cap, we need to be producing about 2500oz of gold a year. But at this point, I would be happy to see 25 oz!
I bet we have 1 Q in 3 weeks, but not current until July/August.
Bid is getting anemic. Down to .0052
Long road to that kind of gains. Also, our market cap is 2x theirs currently, and our O/S is 3-4x as high depending on the number of warrants that got exercised.
This stock is just awful! Anyone who is on the fence about getting out should do so now before it plummets to a new 52-wk low... AGAIN
For anyone who agrees, I will reluctantly relieve you of the duty of owning those shares for the bargain price of .0038 per share.
Thanks for the post Bali.
Good to see others are confident enough to purchase warrants, but bad if they wind up diluting this 30% and dumping quickly to get their money back out.
Gold down today. Probably related to market gains from yesterday.
Looks like SNEY buying has slowed down. Probably back in the 5's by EOW if nothing is released.
Does anyone know how long the Q has been in final review?
If China keeps the ree bottled up it will be good news for sney.
Playful, I think you should read colorado kid's post below. I didn't expect to see any filings today based on Jim's post yesterday. It sounds like the Q is still in final review, which means it could still be a week or more until it hits EDGAR.
Hopefully Jim hears something back from SP as we're all anxious for any info but if you're bent on getting out there are many others waiting at the bottom to pick yours up. Best of luck whatever you choose.
That's pretty good interest if you only look short-term. When this pops to .01, .02, .05 and beyond though, they'll be crying in their beer.
My understanding of the gold bubble is that China was the major factor driving its inflation. A year ago their treasury started buying all the gold they could find so they could setup a gold standard. If/when the bubble pops it will be a disaster for China.
Possibly. Another major delay in the filings could be a setback though. Would keep the pps down a bit longer and may prevent a breakout for now.
Still some time to load the boat IMO.
Holding what I have until we're current, no CE, and uplisted.
Someone is buying a lot of shares. At least one buy of 1M+ the last few days.
It's quiet on the forum today.... Too quiet.
Calm before the storm?
Or everyone holding their breath?
Well, I dont think that's anything that wasn't expected. When fear in the market grows, it's a good thing to own gold. SNEY may have some time left to pull off a production home-run still.
Please elaborate. The news says they avoided a credit default today.
I just looked at the last Q that was released and the last of the warrants that were issued are set to expire at the end of this month. I'll be looking at the next Q to see how many (if any) were exercised.
On one hand, I'm hoping to see none so we don't have dilution. On the other, I'm hoping to see a few got exercised so we have capital for equipment.
Ideally, none were exercised and we didn't need the capital because we sold hundreds of ounces of gold.
I believe you are correct. I jumped off the SNEY bandwagon about 3 months ago when they failed to deliver the 10k.
Once the information was out, and I could see they were continuing to make filing progress, I decided to get back in with a small position.
If they get current, I may add more depending on the outlook at that point.
I believe there are many readers here who are on the sidelines right now waiting for a chance to get in but not willing to pay very much because of the risk they could drag out the filing process.
Hard to argue with two large bids on the board one after the other though.
Lots of support showing up suddenly. Very interesting. I bought a few today myself but I'm still holding out for a big dipper.
I think for most negative posters here, this is the REAL song:
Fly me to the moon
Let me play among the stars
Let me see what spring is like
On a, Jupiter and Mars
In other words, hold my hand
Wrestling is obviously real, but boxing is completely staged. ;)
Also, that's a great idea on the TV show. We should write to Discovery and set them up with SNEY. They already made a gold dredging spin-off show, but they haven't made one in Africa yet!
If you watch Discovery channel's Gold Rush, it took those guys two seasons just to turn a profit, and it's going to take three for them to make any real money back on their capital, probably 4 to get in the black overall.
Does anyone have a working free Level 2?
Bid moving up to .0058, we may see EOD pop.
LOL! Who dumped the 2.5mil shares over lunch? Where did our 3.3 mil bid go? Anyone feel like posting Level 2?
Let's get some more volume up on the board. I want to get back to the 10mil days we used to have.
Chart starting to look more positive. PSAR setup for reversal. If we get Q right now, the run could be awesome.
If they wait for another 2-3 wks though, we'll drop back to the .005 range.
I agree there's a lot of potential in this stock, but for now that's all it is. Potential.
There's a saying about counting chickens too early. I learned that once here already.
The life-changing event was watching my stock account drop 50%, and I was luckier than some here.
No, thank you, I will wait for my price and my time. Everyone said I was a fool for selling at .007, now we're down about 30% from there.
When the Q's come out, there's no gold, no money, and more dilution, I'll be laughing and saying you should have taken advantage of that 3.5 mil while you could.
Every time we've seen a large order like that come up on the board, the price pops 15-20% on low volume, then that massive order gets filled and the ship sinks 20-30% lower.
Yawn.
Wake me up when we get there.
Call me a bottom feeder, but I lowered my bid from last week. I'm in the low 4s now and I think that may still be high if there's no Q this week.
Looking forward to seeing another Q this week! Hopefully it has some big production and revenue numbers on it so we can keep our calculators busy!