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me too. my buy is coming on monday hopefully
i'm gonna try to add a million on monday but i think by then i'll barely be able to get 300K.
yeah 250K @ .003 is a steal. i wish my deposit was available today so i could scoop that UP! doubt it's gonna stay this way until my funds are ready to pounce on monday
is that the trick? Sell 5,000 shares @ bid, and then put in a REAL order for a lot of shares at just above what you just sold so that someone holding shares will freak out and fill your order?
wow, volume @ nearly 3M in around 45 minutes.
would be interesting to see what the L2 looked like. is it working for anyone?
yeah, i remember that. i saw it long before i ever joined this board.
Exactly! I know this board isn't in the business of imagining but can you imagine if they can get some cash flow and acquire a gold mine and get THAT baby into production?? We could be looking at $5 per share. The problem... who has the discipline to keep millions of shares to that point?
lol
depending on what happens with the authorized shares... it could be much more than .06-.08. With current oustanding shares i think the whole thing is worth as little as .15 and as much as .25. When they get the mine into production and start getting cash flow to fund new exploration/purchasing the sky is the limit. years from now with additional properties we could see this stock in the $2-3 dollar range. Remember though, there's a good number of Authorized Shares... when all the Bonus options hit, we'll see slight dilution which will affect those target pps's mentioned above. I'm with josey though from an earlier post-- if they get their funding and the mine going, there's no reason to keep that many Authorized Shares, they should reduce back to around 500M authorized. that would be an EXCELLENT message to the market as well.
yes. and that $11.7M is just for "rights" to mine. It's worth significantly more if you consider a portion of the copper in the ground and the assets it takes to extract it. Now let's hope/pray that these deals actually get DONE and the funding materializes in the next 30 days. I think the market should read this as an excellent step but I don't think we get the crazy gains to .03/.04+ until the funding is PR'd and then in the bank and the mine is ready to go into production. However, sometimes 'irrational exuberance' takes over stocks get a pps MUCH higher than any rational valuation. That would be welcomed. lol
who knows, maybe!
I think we'll see the funding within a month according to this...
This deal for the 10% has this wording:
"The Definitive Agreement shall be completed and executed on or before March 19, 2012 (the “Closing Date”), unless both parties agree to an extension not to exceed 10 days."
GO SIRG!!
LMAO @ salty, true on the .0015.
yeah, it's one thing if all the directors become 'employed' but adding a vp of operations also foreshadows funding. No? am i wishful thinking?
copy/pasted loi for additional 10%.... they can only pay for this with funding
LETTER OF INTENT BY AND BETWEEN SIERRA RESOURCE GROUP, INC. AND MEDINA PROPERTY GROUP, LLC. IN REGARDS TO THE PROPERTY KNOWN AS “CHLORIDE COPPER MINE” IN KINGMAN ARIZONA
When countersigned by each of the parties, this Letter of Intent outlines the general terms as of the 2nd day of February, 2012 for the agreement by and between SIERRA RESOURCE GROUP,INC., a Nevada Corporation, hereinafter referred to as (“SIRG”) and MEDINA PROPERTY GROUP, LLC, a limited liability company incorporated in Florida (hereinafter referred to as “MPG”)
It is intended that SIRG and MPG shall, subject to the terms set forth herein and in the “Definitive Agreement”, enter into the following terms regarding the Chloride Copper Mine, in Kingman Arizona:
WHEREAS, MPG is the owner of a 20% interest in The CHLORIDE COPPER MINE, a mining concession which lies approximately 24 km northwest of the City of Kingman, Arizona, and some 160 km (100 mi) southeast of Las Vegas, Nevada, or 275 km (172 mi) northwest of Phoenix, Arizona. The geographic coordinates of the property are 35° 21’ N Latitude and 114° 10’W Longitude (T22 and 23 and R 18). The Chloride Copper Mine copper deposit is situated within the Chloride Copper Mine Property, which includes 37 Unpatented Lode Mining Claims and 14 Mill-site Claims, covering a total area of approximately 178 ha.
AND WHEREAS “SIRG” would like to increase its interest ownership of the Chloride Copper mine to 90% interest in the “Chloride Copper Mine”, for development,
NOW THEREFORE, the Parties hereto hereby agree as follows:
I. Upon execution of this Letter of Intent, MPG hereby agrees to:
1.
Provide a good faith non refundable deposit of $13,000 representing 1% of the total purchase price.
2.
The parties will diligently and in good faith negotiate a definitive agreement (the "Definitive Agreement") incorporating the principal terms of the contemplated transaction as set forth herein and, in addition, such other terms and provisions of a more detailed nature as the parties may agree upon. In the Definitive Assignment Agreement, each of SIRG and MPG will make such representations and warranties are customary in transactions of this nature. All representations and warranties will survive the closing of the transactions contemplated herein and any and all investigations at any time made by or on behalf of the parties. The Definitive Agreement shall be completed and executed on or before March 19, 2012 (the “Closing Date”), unless both parties agree to an extension not to exceed 10 days.
3.
Certify the Certificate of Ownership, titles and other required information.
4.
Provide any and all documentation proving its compliance with the laws governing mining in Arizona and the United States of America.
II. TERMS OF AGREEMENT:
SIRG will pay the sum of $1,300,000 (ONE MILLION THREE HUNDRED THOUSAND USD) in the following manner:
1.
No less than $750,000 at closing in the form of a wire transfer to MPG’s assignees or designees.
2.
If amount at closing is less than $1,300,000 than the remaining balance shall be financed at an annual interest rate of ten percent (10%). Said amount will be amortized and paid monthly for a period of 12 months beginning after the Chloride Copper mine begins production. Production shall be defined as when the Chloride Copper mine has processed and output the first batch of copper that in that final form is eligible to be sold on the open market. If production does not begin until after 12 months from the execution of the definitive agreement then SIRG agrees to accrue a monthly payment penalty representing 10% of the monthly payment until payments begin.
3.
SIRG shall deliver a certificate(s) totaling 20,000,000 shares of Class A Common Stock of SIRG upon signing of a definitive purchase agreement to the assignees of MPG.
4.
MPG shall deliver Deed and Bill of Sale representing 50% of its interest in the Chloride Copper Mine.
-1-
III. MPG represents and warrants to SIRG that:
1.
The execution and performance of this Letter of Intent by MPG has been duly authorized by the general partner and limited partners of MPG.
2.
The performance by MPG of this Letter of Intent will not violate any applicable court decree, law or regulation, nor will it violate any provisions of the organizational documents of MPG or any contractual obligation by which MPG may be bound.
3.
MPG has the legal right to conduct exploration and development programs on the CHLORIDE COPPER MINE and has the right to mine and otherwise commercially exploit any minerals found on the CHLORIDE COPPER MINE.
4.
MPG will not exploit, commercialize, sell, or negotiate, during the duration of this Letter of Intent, the Chloride Copper Mine nor any of its assets.
Further representations and warranties shall be included in the Definitive Agreement.
IV. SIRG represents and warrants to MPG as follows:
1.
SIRG was validly incorporated and is currently in good standing pursuant to the relevant laws and regulations of the State of Delaware
2.
The execution and performance of this Letter of Intent by SIRG has been duly authorized by the management of SIRG.
3.
The performance by SIRG of this Letter of Intent will not violate any applicable court decree, law or regulation, nor will it violate any provisions of the organizational documents of SIRG or any contractual obligation by which SIRG may be bound.
Further representations and warranties shall be included in the Definitive Agreement.
V. Notices
All notices hereunder shall be in writing and addressed to the party at the address herein set forth, or at such other address as to which notice pursuant to this section may be given, and shall be given by personal delivery, by certified mail, Express Mail or by national or international courier.
Notices shall be addressed to MPG at:
Medina Property Group, Llc
8004 Northwest 154th Street
Miami Lakes, FL 33016
Notices shall be addressed to SIRG at:
Sierra Resource Group Inc.
9550 S. Eastern Ave.
Suite 253
Las Vegas, NV 89123
-2-
VI. Miscellaneous
This Agreement may be executed in multiple counterparts each of which shall be deemed an original, but all of which shall constitute one and the same instrument.
SIERRA RESOURCE GROUP, INC. MEDINA PROPERTY GROUP, LLC
By:____________________________ By: ____________________________
Timothy Benjamin, Chairman of the Board Jaime S. Gomez, Managing Member
I think it's all contained in there
all of a sudden you can be whatever you want! i'm excited about the 8k. It's LONG, there's a lot of stuff in here. lots options being doled out but they have to have secured funding (or are insanely close). 5M shares traded hands at the end of the day.... we could have a HUGE day tomorrow.
WOW, they're increasing to 90% interest in Chloride copper mine. and there are a ton of contracts. the company won't have the money to do this without funding...
also they are employing a Senior VP of operations.... um...um, am i the only one who can see that this basically means that a funding deal is in place or extremely close to being in place?!?!
anyone else out there?
WOW on the 8k that just posted... this is huge
ok i can't take it anymore, i gotta ask....
is it "i"mcat, or "L"mcat? Like "I'm Cat" or "LMCAT". It's been nagging at me that i can't properly process your screen name. lol
838K for .0021 just killed us. someone post the current L2
was laughing at this post, not mine lol - i'm gonna put $100 in my account specifically to make 30 cent trades and fight against the small trades that go the other direction
Wow, barely any shares on the way to .0148
lmao @ 220 shares @ .002
without news this confuses me... my optimistic side says this could be some 'word of mouth' between people who are in the 'know'... my negative side says just psycho fluctuation. confusion high here. lol
yeah just saw that. all of a sudden it's all tight. about 100k on either side
does that 12.5 include my 4?
the battle of the low volume trades... now we're at .0025 from a 5,000 buy and someone added another 15,000 at that price.
what's up w the spread... .0011 bid /.0025 ask
i'm one of those averaged at around a third of a penny. that's why communication is so necessary. wouldn't it be nice to hear "there will be NO reverse split, we opened up authorized shares to make sure we had flexibility in terms of a funding deal."? period, end of story. but no, we get dead silence.
it would be interesting to see if they did reduce the A/S after the funding hits the company and/or mine got into production. would be fantastic. i suppose we could email that question to the CEO but from what i've heard, there won't be much of a response via email.
my level of confusion is at an all-time high. I'm sure Rod has sent email to imcat at some point, I don't think that's in question... but Chris, did you seriously just make that up about shareholders getting updated and the website being completed? If it's real, then respond to requests to post the contents of the email and who you received it from.
we get so little news from Rod, that we all go NUTS when a website goes under construction. LOL I need a lot more than .0015 to break even but I like the small signs. all i want is this board to become a 3 ring circus cuz it means we're good to GO! GO SIRG!
I'm setting my expectations low... hoping for an announcement by April but today would be fantastic.
oops, he sold 15,000 @ .001. STILL!
HA HA! I had $13 bucks in my account available and I just paid $12.83 to buy 5,000 of Sirg @ .0013. Take THAT Mr Guy who sold 5,000 @ .001. TOUCHE!!!
5000 @ .0014 = $7. y do ppl do this
well said
it's actually quite refreshing to have such a positive poster here. the rest of us are so blandly neutral all the time. we've got this chris! let's hope this thing fly's in the next few months!