Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I try to be a realist. :)
I think the risk level is down a lot at this point, short of another civil war or some greedy "public servant" who is not satisfied with his share of the pay out, or some warlord who decides to rob the shipment.
Overall though (at least in SL) I don't think they would be filing the paperwork if the benefits weren't worht the extra work.
They could just sell gold on the black market, if the find didn't justify getting current. IMO
Now it's just a matter of what the actual content ratio is per ton of the various minerals that are being mined.
I am guessing they already have a buyer lined up otherwise it wouldn't be worth the cost and time to get the paperwork in order.... that is just a guess though.
Anyways if the company is able to come through with their paperwork we should know more no later than Aug 15th.... prefer much sooner myself. :)
let me try and explain this as simply as I can for you; and any others that haven't grasped what is going on at this time.
Sney is an exploration company: they are looking for something.
So anyone that expects to see revenue generated before they become a mining compay doesn't have a grasp of what is going on.
To become a mining company and show production numbers and sell those production numbers the company needs to be current without a CE.
So what we see now is an exploration company, who for what ever reason decided being current was not as important as figuring out whether it was worthwile to mine for minerals in 2 countries in Africa.
After months of delays the company has decided that the stock piled minerals they have accumulated for a year or so are at such and such a quality/quantity that it is time to get the paperwork up to date and mission statement changed.
Why would some jr miners waste the time and money to get current and change their mission statement?
Because the find in at least one of the 2 countries has reached a point where it was cost effective to get the paperwork done and start selling some ore; and pay the "taxes" in SL.
The K that was filed on Monday is the second to last piece of paper that needs to be filed to get current and the CE lifted, before 2nd Q 2012 is due.
I don't expect to see revenue generated in the last piece of paper we are waiting on either.
However, what I am betting on is that once current and the CE removed the company will file paperwork to uplist/change mission statement and sell some ore, generating revenue.
Because of the time line it is also doubtful we will see good finacials for 2nd Q, but we should see a break down of what ore is being sold with a break down cost effectiveness in a couple prs either before or soon after 2nd Q is filed in August.
So yeah you are right in your assessment, but what most who have been following the progress of the company believe is down the road is sooner than you think it is.
I should point out also that at this time we are only talking about 1 of the 2 sites SNEY is currently exploring for minerals.
So though you might see it as pumping, I read it as some people specualting on how good the reports coming in the next month or so are going to be.
So either buy some shares and jump on, or go find another board. ;)
I thought the pr company was working on finding "new" investors, both here and in China.
Just find odd that we continue to sit at this level. Sure people will continue to accumulate shares, but I myself am ready for this to be climbing higher. This running flat for the last 8 months is rather sad. IMO
don't doubt that for a minute, however one would think after a month or so we would at least be trading a little higher.
So many longs with all those tied up shares, retired 800k shares, pr firm, etc and still we can't get out of the 18 - 20 range.
Rather sad when you get right down to it. Since the bounce from .0008 this has been a pretty stagnent stock pps with the occassional uptick.
So I take it that the pr company that Dustin hired didn't come through. I am actually rather suprised that this is still running so flat.
not a lot to say, so though I stop by once in awhile to see if anything has changed, it would appear that we got royally screwed.
and that is why I get so agited with them when the paperwork gets delayed. :)
I understand what is needed for this to be successful and to start reporting revenue, and every delay in getting current just continues to delay revenue reporting.
I think when this is current and actually reporting on both sites we longs will be very pleased with the investment. It's just the unnecessary delays in getting there are very infurating to me.
Anyways, I am almost out of posts for the day, so I am done for now, you can try and explain to people what is going on.
ROFLOL
good luck with that!
If they were current without a CE I might agree with you, but at this time the main focus is getting current. The company knows they will be filing the q1 sooner than later and then the q2 will be due soon after that to remain current.
They have had a hard enough time filing the old paperwork to get current, why would they waste time screwing around with adding paperwork not necessary to the goal of getting current and CE removal?
Don't get me wrong, from a shareholder's position I agree with your sentiment, but from the position of the company it makes no sense. It's just unnecessary paperwork and expenditure of time right now, when the info will be filed relatively soon anyway when the Q's get done.
On that note I hope the few week estimate of Q1 release is just there for legal coverage, and the q is actually ready to be filed any day.
why would they file a subsquent events tab when they plan on filing Q1 within a couple of wks of filing K?
I think you are missing what is going on, or maybe I am being to liniar.
To get current with sec they need to file their out of date paperwork in order due. They are not required to report on current events yet, so the focus is to get old filings done in order, and then when upto date start filing current events.
If I was the managment at sney I wouldn't file up to date info in a document from 6 months ago.
But you are forgetting what was just filed, this was a report for end of year 2011, nothing that happened on or after January 1, 2012 should or would be expected to be in a report for December 31, 2011.
How can you report on something that will happen in the future, based on date of report?
Yes we are currently in the month of July 2012, but the report is for December 31, 2011 and earlier. So no one should expect anything that happened after December 31, 2011 to be in this report, that makes little or no sense, IMO.
So though they may have sold some gold in January, Febuary, March, April, May, or June, the simple fact of the matter is it would not be reported in December 2011, since it could not have happened yet.
The K was for December 2011, not for any part of 2012. Why would anything learned, discovered, etc in 2012 be part of a 2011 report?
The 1Q should be a little more informative in the regards you are questioning, but even then I am not expecting much. I think they are keeping everything close to the chest so to speak until ce lifted, which is why the 3rd Q for 2012 should be the most imformative in regards to actual numbers and revenue. IMO
I would ammend that to anyone that is being realistic about what SNEY is doing wouldn't have expected revenues. :)
I know I didn't, one of the reasons all the delays in filing paperwork pissed me off. They couldn't officially start selling ore until they were current and could become a mining company in stead of one exploring. The longer the paperwork took the longer it would take for actual production numbers to be filed, etc.
Hopefully the 1st Q is ready to file and will be done as soon as the sec allows, so that it does not delay filing 2nd Q.
Personally see this as very good news. About damn time!
one doesn't earn any revenue mining until one sells the ore mined. All sney has been doing is stock piling minerals so far. I believe part of the reason they are getting the ce removed is to move from an exploration company to a mining company able to sell their stockpiled material. Which is why I personally don't think actual revenue will be offically reported until 3rd Q.
Well it is nice to see they finally got this filed. Hopefully they are able to get q1 filed before they are late with q2. :)
Why would we be expecting any revenues? As of yet they are an exploration company.
One of the reasons they are in the process of getting current with the sec is so they can start making revenue; ie sell their stockpile.
I don't expect actual revenue reporting until the 3rd Q now, which would be aprox Oct.
I agree, I am going to ride this for awhile and see where it ends up. I will settle for .07, but I think that is going to be on the low side.
I was referring more to the .02 - .05 estimate. Like I said earlier, we were trading around .02 last yr (June I think) and all that had happened was the dredges were finally on site and exploring. We still had a CE, and there was no idea of when we would be even close to filing the first q never mind getting the k filed and the next q.
Sorry coming here today and seeing this thing up 26% and in the green for a week kinda has the blood pumping in a good way.
But yes until we get some paperwork filed and some hard numbers to examine everything is speculation, but I don't think they would be going through the head ache of getting current and supposedly uplisting if Steve's projected valuation would only come in around a nickel..... I just got a feeling this thing is going to be better than expected, and we aren't even looking at what's going on in Ghana yet.
Anyways I gotta work tongiht and I need some sleep.
well sure, based on plain facts we don't have a valuation of a nickel either.
I guess we will see where we end up, I am thinking if they are able to get their paperwork done and the ce lifted that alone will generate interest. Heck all we have now is a rumor that the 10k was filed fri or will be filed monday and volumn is taking off. We supposedly are at number 6 on the most read boards, and if the pps continues to climb through this paperwork exercise it will start popping up on all those computer programs that search for stocks on the move.
Then if the prs are good, well who knows where it will stop.
Sure I would be happy if we reached .07, which would give me a 10 to 1 return on my investment, but I think we will be going higher, not sure why but I got a feeling about this one.
I had the same gut feeling when I was thinking about lexg at .65, but invested more in this instead; oh well.
I think calling such a low price ratio is just as much a disservice as claiming outrageous highs. IMO
Granted none of it matters until we are current, and hopefully this time we are actually on a set time frame for the k and q to get current.
I hope you are both wrong.
I would love to see this thing get caught up in some kind of mad dash north, with people holding strong while others try to get on the band wagon. With a serious jump in volumn pushing this closer to a buck..... if not higher. But if you are going to dream dream big. :)
Your a Seachicken fan and don't believe in longshots, that's funnier than this being valued at more than a billion bucks... I have been a Seachicken fan since 76 so I know as well as anyone about believing in longshots.
Considering we were trading around .02 last yr with no production, a ce, an a long ways from being current, I for one think your estimate of a nickel is extremely low.
I remember watching lexg go to 10 bucks last yr on a lot less than the potential we have here, and there were others that flew on less over the last yr as well.
If the company can come through on the paperwork, and their findings are even a little better than early estimates. then this could run pretty high I think.
I for one will be riding this out for a lot more than a nickel.
I doubt my weekend will be that great got to work. Was really hoping this stock would have taken off by now so I can friggin retire. LOL
Though I have no desire to move to an island, a couple hundred acres with some horses and cows would be kinda nice.....
I will put forth that I hope you didn't take my posts as an attack against you, I realize you are only a messenger, and unlike some leaders of the past, I am not in the habit of blaming the messenger.
Anyway, we will see what next week brings, hopefully this time your source is spot on.
I went back and re read your post and I must apologize, I misread the one I responded to, lack of sleep is my only excuse.
and to keep it on topic, hopefully sney's mining exploration will someday become public knowledge, until then who the heck knows.
Will be looking fwd to Tuesday, not going to get all giddy like I am sure some already are (dancing around the fire naked and all that) but I will be waiting with anticipation. Hopefully this time Rocket's source is spot on.
Yes sney has been notorious for missing deadlines and with that knowledge in the back of my mind I will not start celebrating until they actually meet this one.
I like others appreciate the news you have brought over the months but because you source has been wrong so often, it gives the impression you are wrong. Dont blame you, just not going to join in the merry making yet.
One would not carry an atomic clock on one's wrist either, so I am not sure of that referrence. :)
Don't forget about Penolope Pitstop, Dudly Do Right has been delayed. LOL
You make an assumption I am not invested in sney, I will remind you about the old saying about one who assumes. :)
I have bought all I am going to buy at this point, so if it goes up I will be happily suprised, but that has nothing to do with my point, which was we have heard this song and dance before, in fact if memory serves a month and a half ago when the last Q came out we were going to be CURRENT by eom; ie tomorrow.
However as we can all see that too is not going to happen. So before I congradulate anyone for bringing us such "great" news I for one will see if this predicition comes true before I congradulate anyone.
He may look good in his spandex outfit as he gets around saving cats in trees and others in peril, but so far his predictive powers based on his contact with the company has not been very impressive.
Following on his Mayan joke of sorts, at least they were able to build a calender which rivals our best atomic clock in accuracy in regards to keeping time. So based on current track records if I had to make a bet right now about who is more likily to be right in predictions, I think I would bet on the Mayans...... just saying.
2 business days. So you are suggesting by Monday night next week we will see at least a 10k. If one was to take your statements at face value one would assume more will be released/done by then as well.
I hope your source is correct this time, cause so far that has not been the case. I will let ya all get caught up in the drum beating and dancing, but since this is a record we have heard before (at least the basic premise) I for one will wait until the company actually produces before I get all excited.
guess I will check back next week.
someone's selling shares right now, the ask is .0075, I am not sure why you are having such a hard time getting shares.
don't feel bad at all, just stated a fact: it's not a word I have ever seen.
LOL, far from some über prognosticator, just a share holder who is frustrated with the inability of managment to get their act together, and voicing my frustration on a forum that is dedicated to discussing the company in question..... after all I thought that this forum was here to discuss the stock, the good the bad and the ugly; or are you suggesting that we can only discuss the good things?
I don't use goggle, but if I get bored I might take the time to look the word up, right now, it's not that important to me, my ignorance in regard to that word is not something I find important enough to correct at this time.
I got one more thing to add. This was my first post which started this little side thread:
looks like ongoing delays from managment in releasing the paperwork to get current is going to bring the pps back down.
as much potential as this company has, it is just amazing to me how incompetent they are in regards to getting their friggin paperwork done.
What a friggin joke.
as the pps moves down to .0063 looks like my earlier statement is coming true.
Yeah when they finally get their act together and get the k out we may well move back up, but until they get their sheet together on the paperwork end we are sucking hind teet.
Darrow is not a word I am familiar with, but I think I get your meaning. Though you don't see yourself in that manner, you do jump to the defense of the company everytime someone voices a complaint about the progress or lack there of in regards to the company.
I am not sure why your ongoing defense of sney makes you defensive about it now. (shrug) Didn't mean it to be an insult, just pointing out my observations.
Actually your first sentence was "They are a Pink sheet stock" or words to that effect without me going back and reading the post.
As I have already stated, in the context used that is an excuse, and implies we shouldn't expect anything else. Sure you then went on to express agreement that it is sney's fault they are behind with their paperwork, but you prefaced it with the above quoted sentence and implication I already expressed.
We could go round and round about this and get no where, so I am done with it. I voiced my sentiments about the ongoing bs that is the sney paperwork on a forum that is about SNEY. Sorry if someone pointing out the bs offends you or anyone else.
It's kinda odd to me that so many take such points so personally, and suggest the only anwer is to sell.... I guess this forum only wants to discuss the How great it's going to be when and if they finally do get their heads out of their arses.
On that note I will let you go back to that scenerio, can you hear Bali's drums?
Risk I like you, but you field complaint calls for sney on this forum almost daily, heck you jumped into this complaint head first. :)
As to using "It's a Pink stock" as an excuse; the way you and others are using it is as a justification for why they continue to delay their paperwork. "Oh it's only a pink sheet stock, what do you expect."
And until recently that was my attitude as well, however since the company themselves have expressed time lines, and desires to uplist, that oh it's only a pink sheet stock line doesn't fly anymore, in regards to why their paperwork keeps being delayed.
You can keep using as an excuse for why they can't get their paperwork done if you so desire, but I am done buying that standard line.
Your first sentence in the post: "This is a pink stock." in and of itself is an excuse.
Sure it's a pink stock; but supposedly one that is trying to get current, and uplist. I haven't had over aggressive expectations of this company since I first bought into over a yr ago. I am however sick and tired of the ongoing paperwork delays, and yeah I am calling a spade a spade in this regard. They have a problem with getting their paperwork done, end of story.
their attempt at getting current indicates that (to me anyway) they are on the verge of releasing promising results, but yeah overall your assessment is pretty spot on, based on current evidence.
define believe in. Are you saying you can't believe that a company will eventually get their act together and get their paperwork done, or that one can't believe that they will produce on the ground, and still recognize that there are flaws in the system? Especially flaws that continue to show themselves on a regular basis?
here again it's excuses for why they continue to delay. Sure they are a pink stock, but the bottom line is they have made projections for when they would get this paper work done and be current.
They continue to miss their mark, for what ever reason. The bottom line is their paperwork is not done, and it looks like they will still not be current by the eom as projected.
If this was Parents first rodeo, I might be more inclined to agree that it's just exaggerating expectations on the timeline. However, it's not his first rodeo, so he's been down this road before, and knew what was going to be expected of him and his paperwork.
Ya'll keep making excuses, but I aint buying them no more. SNEY needs to get their heads out of their arses and get caught up in their paperwork, end of story.
actually it's a cop out. This is a message board where the topic of discussion is a particular stock, the good, the bad, etc.
Just cause one believes they will eventually pull their heads out of their collective arses doesn't mean one still can't recognize that management is lacking in an important area of running a company.
Making excuses for them is akin to the ostrich buring it's head in the sand IMO.
They maybe exceptional at finding gold and other valuable minerals/ore to mine, but based on the ongoing joke that is filing their paperwork I would say it is a valid adj. in regards to this aspect of running/managing a company.
It's not like this is their first rodeo.
I don't doubt that they are doing a bang up job in regards to mining, it's their paper suffling skills that I question, and this ongoing delay and excuses for delays is evidence that their skill is extremely lacking.
If I had known for a yr plus that my record keeping would be used to update filings for my company to the sec and my records were not up to the task of getting the filings released in a timily manner without ongoing delays, then yeah I would be incompetent in that regards.
Is it? They have known for more than a yr they would need to file these forms to get current, as such they should have been keeping decent records for future filings. It's been more than a month since the release of the last Q, and with only 5 business days left (including today) in the month of June, it is highly unlikily that we will be current before the eom as projected.
Sure there might be something going on behind the scenes that we are unaware of, but the bottom line here is that those responsible for keeping track of the paperwork are screwing up in one way or another, and that boils down to incompetence IMO.
Sorry there is no excuse for the ongoing delays in getting this paperwork done, none.
looks like ongoing delays from managment in releasing the paperwork to get current is going to bring the pps back down.
as much potential as this company has, it is just amazing to me how incompetent they are in regards to getting their friggin paperwork done.
What a friggin joke.