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Is there anything driving this little run-up?
Thanks dbowren- I remember the f100 but was curious about any other news. This run-up is fun to watch:))
Anybody have any thoughts on where this run-up will top off at? This thing runs on a whisper:)) Is there news coming?
Can one of the Mods please clean up the info page for this thing? Maybe just put it all in one message and sticky it. Trying to scroll down takes forever the way it is now. Thanks
Budz, if you had ever acquired a company and tried to audit the books for the last 2 years you would see that it is not as easy as balancing your checkbook. The ML deal was a mess because it was coming out of a bankruptcy. To say that the audited financials should have been out 2 years ago is disingenuous at best as the deal was not completed until the end of last year. EGOC is profitable and is staged to make a lot of investors some nice change over the coming months.
Everyone enjoy your weekend- I know I will:))
Intomoney
Wisebuys, when was that conference call? I saw nothing recently that said there was going to be one. My 4.5 mil shares are held tight:))
Considering he died in 2010 that picture should surprise everyone. Rest his soul he is deader than this shell at the moment.
What is driving this bus right now? Haven't looked at in months and figured she was dead:))
Anybody else have this happen to them??
Just talked to Vanguard- apparently the distribution date was changed by NASDAQ to March 7, 2013. The 2011 date means nothing according to them. I sold last year so I am screwed. OH well- life in pinky land- gotta luv it:)))
Anybody else not received their shares yet from Scottrade or Vanguard?
OMG!!!!! run for the hills!!!! I will sell all my shares of EGOC immediately Jamigo!!!! Thanks for the warning!!!!! LMAO
If anyone buys or sells ANY stock based on ONE person's opinions then they deserve to lose money
I have made MILLIONS in this market and ALWAYS do my own Due Diligence as everyone should.
All Posters need to remember that Golden Investment Rule Number 1:
DO YOUR OWN DUE DILIGENCE!!!
Intomoney
Hey Brendan- I no longer have PM capabilities. Send messages to:
intomoney@ymail.com
Thanks
Think of the money that will be saved by shipping ore to our Mill vs BC:))))))
Thanks for the info LJ!!
Go $CGFIA
This was probably just a test before the R/S. Not sure why they do it but I have seen it done on other stocks (unfortunately) undergoing splits, they run a small trade through beforehand. Must be standard procedure.
Anybody else seen that b4?
Intomoney
I see under alerts for today at 10 minutes after close "CGFIA Traded @ 0.0006" on my Scottrade account????? does this mean we will open at 6 tomorrow? Hmmmmmm.......
Intomoney
Welcome back Wildcat:)))
Good to see you over here Brendan- this company is about to take off!!!
JMO
Intomoney
thanks tdbowieknife- I think I knew that but needed someone to jar my memory on it.
Intomoney
Nice find koen2:)) That is a cool video. I am confused about one thing though- does $GRID own the Guerra #2 and the Garcia #2 wells in part or whole? The PDF on their website is not clear on ownership of those wells.
I think this company is about to make us all some money!!!!
JMO
Intomeney
Good post ficose- I think we are witnessing the birth of a great company. No one said it was going to be easy.
Intomoney
I like your thinking Biowise. Maybe we should be focusing on the value of the assets (conservatively at around a billion $). Guyer is known for building companies and then selling them. Why would this be any different. Hell even if they just sold us out for 500 million our pps post split would be north of $60 per share. It is a lot easier for a buyer to look at 7 million shares vs 27 billion.
JMO
Scottrade posted news already this morning- looks like it is official. Now we see what this company really can do.
LAKEWOOD, CO, Aug 21, 2012 (MARKETWIRE via COMTEX) -- Colorado Goldfields Inc.
(OTCQB: CGFIA) (PINKSHEETS: CGFIA) announces that the Company has received
approval of its Reclamation Permit Amendment (AM-03) Application for the
Company's Pride of the West Mill.
The Pride of the West Mill, near Silverton, Colorado is located within the
famous "San Juan Triangle" mining center of southwestern Colorado, which also
includes the historic mining towns of Telluride and Ouray, and encompasses one
of the most richly mineralized areas of North America. The mill has the
capability to process five metals: gold, silver, copper, lead, and zinc. The
mill has an ultimate capacity of 700 tons per day.
Colorado Goldfields has received over $9 million in preliminary purchase orders
for toll gold/silver ore milling in advance of the permit process completion
from gold/silver ore mines in the area, including: The Silver Wing, Red Arrow,
Golden Wonder, and Ruby Trust.
"This event materially transforms the Company. The approval has brought renewed
attention to the Company's acquisition plan. Inquiries have already been
received from several of the 23 mines within 25 miles of the mill, which have
confirmed viable ore concentrations representing an estimated $3 billion worth
of metals still in the ground. We believe that the Company is now in a position
to access meaningful capital funding on reasonable terms," stated C. Stephen
Guyer, CFO of Colorado Goldfields.
Contributing to the design was Bryan Ulrich, P.E., Senior Vice President for
Knight Piesold Consulting. Knight Piesold is an international consulting company
providing engineering and environmental services for mining, power, water,
transportation and construction sectors around the globe. In the late 1980s Mr.
Ulrich completed the site investigation, analyses, design and resident
engineering for the Sunnyside #3 tailings facility in Silverton, which converted
the facility from a cycloned operation to a conventional earth-fill dam and
ended much of the dust problem that was previously attributed to the facility.
The Colorado Division of Reclamation, Mining and Safety finalized its decision
to approve with conditions on August 9, 2012.
Consistent with the new character of the Company, the Board of Directors has
approved a 5,000 for 1 reverse stock split of the Company's Class A Common Stock
as of August 21, 2012, and has filed the necessary material to effect the
reverse split with FINRA. The Board of Directors believes that the current
market price of the Company's Class A Common Stock is impairing its
acceptability to certain investors, clearing firms, and other members of the
investing public, and has approved the reverse split in anticipation that it
could result in a significant improvement in the per share price of the stock.
C. Stephen Guyer, Chief Financial Officer of Colorado Goldfields, stated, "We
are effecting a reverse stock split to better align the stock price with the
Company's accomplishments and operational objectives. Further, we have performed
extensive multi-variate analysis surrounding this action. We believe this
transaction will broaden our shareholder base, increase the appeal of the stock
to investors, and help facilitate electronic transactions of our stock through
DTCC. While reverse splits are sometimes viewed as a negative event, we strongly
believe that this split will provide benefits to our shareholders by improving
trading accessibility and liquidity, thereby enhancing long-term shareholder
value."
Every 5,000 shares of Class A common stock of CGFIA will automatically combine
into one share of Class A common stock. The Reverse Split will reduce the number
of shares of outstanding Class A common stock from approximately 28.2 billion
pre-split to approximately 5.7 million post-split. The number of authorized
shares of Class A common stock will be reduced from 35 billion to 7 million.
Proportional adjustments will be made to Colorado Goldfields' convertible notes
and equity compensation plans. All fractional shares will be rounded up to the
nearest whole number. The Reverse Split will not negatively affect any of the
rights that accrue to holders of CGFIA common stock or common stock equivalents.
The reverse split is not a taxable event to existing stockholders.
"The agency conditions regarding the tailings repository are modest and we
expect to complete the additional analysis within 90 days. At the same time work
has commenced on other areas of the facility. The future of Colorado Goldfields
is bright and our confidence level is high that the Company will become a leader
in mining and milling in the state of Colorado," said Lee R. Rice, President and
CEO of Colorado Goldfields.
Gold stocks
About Colorado Goldfields Inc. Colorado Goldfields Inc. (OTCQB: CGFIA)
(www.cologold.com) is a Denver-based junior exploration and mining
company primarily exploring for gold and silver. Our seasoned management team
targets historic gold camps with strong potential for multiple deposit
discoveries. Currently, our business model in Colorado provides an outstanding
combination of former producing properties with excellent exploration and
production potential and a currently inactive, modern, up to 700 ton per day
capacity mill facility to allow for an attractive short-term production time
frame. A 3D animation showing ore processing may be viewed on the Company's
website at: http://www.cologold.com/prideofthewest.htm. A video tour of the
Pride of the West Mill may be viewed at:
http://www.cologold.com/uploads/2009-05-14_Mill.wmv
The Company has made available a current CGFIA Fact Sheet in PDF format at
http://www.cologold.com/uploads/CGFIFactSheet.pdf.
Notice regarding forward-looking statements This news release may contain
forward-looking statements or information within the meaning of the United
States Private Securities Litigation Reform Act of 1995. Forward-looking
statements or information includes statements regarding the expectations and
beliefs of management. Forward-looking statements or information include, but
are not limited to, statements or information with respect to known or unknown
risks, uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements or information. Forward-looking statements or
information are subject to a variety of risks and uncertainties which could
cause actual events or results to differ from those reflected in the
forward-looking statements or information, including, without limitation, risks
and uncertainties relating to obtaining financing to meet the Company's
exploration program and operating costs during its exploratory stage, the
interpretation of exploration results and the estimation of mineral resources
and reserves, the geology, grade and continuity of mineral deposits, the
possibility that future exploration, development or mining results will not be
consistent with the Company's expectations, accidents, equipment breakdowns,
title matters, or other unanticipated difficulties with or interruptions in
production and operations, the potential for delays in exploration or
development activities or the completion of feasibility studies, the inherent
uncertainty of production and cost estimates and the potential for unexpected
costs and expenses, commodity price fluctuations, currency fluctuations,
regulatory restrictions, including the inability to obtain mining permits and
environmental regulatory restrictions and liability, the speculative nature of
mineral exploration, dilution, competition, loss of key employees, and other
risks and uncertainties, including those described under "Risk Factors" in the
Company's Annual Report on Form 10-K filed on November 23, 2011, which is on
file with the Securities and Exchange Commission at
http://www.sec.gov/Archives/edgar/data/1344394/000095012311100285/0000950123-11-100285-index.htm,
as well as the Company's other SEC filings. Should one or more of these risks
and uncertainties materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in forward-looking
statements. Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information. The Company does not undertake any
obligation to release publicly revisions to any "forward-looking statement," to
reflect events or circumstances after the date of this news release, or to
reflect the occurrence of unanticipated events, except as is required under
applicable securities laws.
Cautionary note to U.S. Investors -- The United States Securities and Exchange
Commission permits U.S. mining companies, in their filings with the SEC, to
disclose only those mineral deposits that a company can economically and legally
extract or produce. We use certain terms on this website (or press release),
such as "measured," "indicated," and "inferred" "resources," which the SEC
guidelines strictly prohibit U.S. registered companies from including in their
filings with the SEC. U.S. Investors are urged to consider closely the
disclosures in our 10-K which may be secured from us, or from the SEC's website
at
http://www.sec.gov/Archives/edgar/data/1344394/000095012311100285/0000950123-11-100285-index.htm,
this press release may contain information about adjacent properties on which we
have no right to explore or mine. We advise U.S. investors that the SEC's mining
guidelines strictly prohibit information of this type in documents filed with
the SEC. U.S. Investors are cautioned that mineral deposits on adjacent
properties are not indicative of mineral deposits on our properties.
Contact:
Investor Relations
Colorado Goldfields Inc.
866-579-9444 or 303-984-0524
http://www.cologold.com
SOURCE: Colorado Goldfields Inc.
CONTACT: http://www.cologold.com/
Problem is Guyer can see three moves ahead of us... I just have a feeling he is actually going to do something good for us. He has done so much over the past few years I can't see him screwing his long-term shareholders now.
Intomoney
I think it is a bluff to get shorters to settle up so they can get a buyback/ buyout accomplished in short order. With 9 mil in orders they could buy us out at our current price as soon as they flip on the power. If he goes through with it we are screwed though:((
JMO
Any thoughts on these latest developments Ficose or 567? I still do not think Guyer will really execute the R/S.
Intomoney
JMO
Anybody else notice the volume increased by 200 mil after hours. I got the first daily report from the company at 3:46 showing 271 mil and by 5:21 it had increased to 471 mil on their 2nd update. Really strange.
As far as the R/S talk and the Nevada SOS filing- could Guyer just be scaring the shorters into getting their house in order and accounting for their shares? A R/S makes absolutely no sense at this point with Revenue in excess of the value of outstanding shares ready to flow into the company.
Any thoughts????????
JMO
GO $CGFIA
Congrats on the Grandbaby- that is what life is about:))
Thanks AK- need to get my butt up there next time I am in Colorado and check everything out. My folks have property north of Cortez in Dove Creek.
Intomoney
GO $CGFIA
Anybody- is the Silver Wing the one just up HWY 2 on the right hand side? From Google Earth it looks like there is a holding pond there. Just curious. TIA
Intomoney
Willy4- any updates on the lawsuit?
Thanks 567, that's interesting- I may do some digging tomorrow myself since I seem to have extra time on my hands these days. Are those for Goldfields or someone else?
I may even have to try to come up with a song to compete with you guys- should be fun when we all can party in Silverton. Hope the Grog helps our singing voices-LOL
Go $CGFIA
Hey 567- what mines are you pointing to there? Just the toll portion of our income should be enough to buyback/ retire a ton of shares. The key now is to get the conditions of the permit met and get to milling.
Go $CGFIA
JMHO
The MM's are up to their old tricks. Put in an order for 450K at 2 and they filled it at 1. They are doing everything they can to keep this down but are going to be fried when the PR comes out and the world finds out about little ol' $CGFIA
Approval!!!!!!!!!!!!!!
GO CGFIA
Doing my happy dance- Break out the Grog MT:)))))
Intomoney
Entered my total MT. Time to make up more Grog:))))
Intomoney
I think we all need to step away from our computers for a bit and take a deep breath. At these prices (.0001) those 60 Billion shares are worth $6 mil. If Guyer and Co are telling us the truth about the contracts already in hand that are worth $9 mil then in theory they are still still in the black, at least on paper. The whole key is getting revenue flowing in and then my guess is they will buy down the shares to a reasonable level at that time.
JMO
Congratulations Borgon:))
Thanks for the update Willy4. Hopefully the judge rules in our favor.
Have a great night!!