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There she goes... LOL
Was just a matter of when. I was thinkin' as more folks obtained access to their shares, it would happen.
$CGFID
Where's Buc? This is bad news, twice in a row for him.
This sucks. As I said before, I've been holding for over a year and never sold a single share. I just lost a sizable chunk of cash. Wow.
Think I'm done with pinks...
A sad day indeed for all longs here.
Ah... Hmm. Wonder if we'll see a replacement pop up closer to Millin' time? You know to keep all of the good vibes at bay. Yin/yang n whatnot.
$CGFID
I may have gotten over zealous there. Who knows at this point. All depends on how far this goes I guess. But, that even furthers my points I made earlier. I think we need to keep our estimates as realistic as possible. Just a few weeks ago I was hearing estimates of $75/$100 a share. I just groaned and rolled my eyes. Something pretty catastrophic would have to happen to this country's economy for something like that to happen. And honestly, at that point, I think Wall Street would be toast anyway...
From our current PPS I am hoping for a 5-10 bagger. I hope I'm pleasantly disappointed.
$CGFID
Haha, yes, I suppose grandpa's can leave (the children) whenever it suits them. My Dad will soon have the pleasure. I will be a zombie around March...
$CGFID
Have you ever once, provided a single shred of proof to these mysterious SEC charges you keep mentioning? I'd really like to see a link or something. No? Got nothing? Cat got your tongue? That's what I thought.
GO $GTGP
That would be awesome if we're heading north. My .027 avg needs a little help. Tempted to buy a chunk down here in another account. What's the story on the dilution/AS increases? Have they slowed? I just went thru an r/s and wouldn't want to buy right before another one hit.
$PVSP
You honestly think this company, which is, today, deep-in-debt, non-revenue producing, actually never revenue-producing, worth over $10 a share? That's where I strongly differ in opinion. There are much safer bets with healthy, revenue-generating companies that trade for less out there. I think if Guyer was a man of communication and we could verify, more clearly, his methods of financing, right now, today, and get a better idea as to whether or not he will use the backs of his shareholders again to fund this thing, we would have more confidence here. This still has pink stock written all over it until we're in operation. There is still much risk here. Stocks with this much risk don't trade at $10/share. JMO
Once this is finally going and we're crushing rock... absolutely. I can see $10+ PPS.
Good stuff here. May I also suggest a school of thought hat may exist here as well, even among some longs. We have been staring at the triple zero madness for well over a year. We all did the math in our heads of what our trading accounts would look like when we "hit" .01 or even .1. We have been dreaming of that for a long time. It was foolishness and koolaid. Buying at the ask would never have gotten us there. Sorry, it wouldn't have.
I think there's a mindset that BECAUSE OF THE 5000:1 R/S, we somehow need to see tens or hundreds of thousands of shares in our accounts again, so we can relive that same dream in our heads. Things don't look so hot when you were dreaming of 50-100 baggers and now, at this PPS, we're realistically looking at 10-20 baggers long term. Our bag perceived bag potential was reduced with the r/s. Key word perceived, we all know we were staring at a NO BAG situation until the share structure got fixed. Now that it's fixed, and we're all staring at 5K-20K shares,give or take, in our accounts, there's plenty of folks that wouldn't mind watching this drop down to .1 or lower so they could rack up their share counts again.
While this seems like a good plan in the end game for the individual, it will do nothing to help our situation. I have my doubts as to how much money really exists here to sustain this for a year at the present price levels.
It's tough because none of us really truly know what's going to happen here. What if we see another delay? What if, come next March, the conditions aren't met. What if Guyer, for whatever reason decides to dilute out of necessity and now our beautiful share structure is destroyed? Now we all holding bags that we bought at the ask. Do you have any idea what that would do to our PPS? We are still a penny stock investing in a start up. The risks are enormous. So as much as we're confident in Guyer and GOLD, there's an equal amount of healthy fear/skepticism here. I've seen no brainer healthy company's go south in an instant because they didn't get a contract or whatever. I think that is a big rub - the unknowns. That's why you have people bid sitting/hedging etc. The very thing that you think is setting you up for a better position is not helping the overall stock health. It's tough. I think a lot of people have spent what they're going to spend here, and they want to get the most out of their money. Sometimes it works, sometimes it doesn't. I spent $2,500 a year ago in a stock (all at the ask :) ) and it's up over 1000% now with a high likelihood of going up another 2000% of where it is right now! Sometimes it works out. That same stock could also crash overnight if contracts are not solidified.
GO $CGFID
So how much ask buying DID you do today 567?
Lots of good dialogue here folks. Lots of "healthy conflict" LOL.
I like transparency and realness. Us longs should be absolutely be working together and being honest with each other, right? We all WILL own this float, right? That IS the goal, right?
We've all got different trading strategies, at different times, and I can understand both sides. Both 567 and PNYSTKB make very valid points. 567 is right - we absolutely need buying pressure at the ask to make this PPS go up. This is the only way to fight the shorts and MM manipulation. I don't think anyone here is arguing this.
I think what PNYSTKB is having some reservations about, and many others as well, is the timing. After all, true, long investors buy stock based on what they think it's worth. Is CG worth 3 dollars right now? Right now, is CG worth $5/share? Some will argue that. We have all been through a lot of hassles with this company - much of the hassle was not CG's fault - they were(are) at the mercies of powers greater than them. But still, today, what are they worth? To many confident longs, they're worth what we've already spent and much more. We know the end game.
What we do not know is the future PPS/trading behavior. We don't know how much other longs are going to keep the buying pressure on. If everybody's all "spent out" then the buying pressure will collapse. 567 says he wanted to wait until .60 to buy. Ok, fine, but why wasn't he buying at .6 yesterday and today? Willsmith absolutely did a TEST (He himself even said it was a test in this own post) at the 1.01 ask. Where was 567 to back him up this morning, if it wasn't just a test? Guys I'm just talkin' here, not trying to name names, just sayin'. We can all say we want others to buy at the ask, as 567 said, but the point is, we ALL want to get the most out of our money and not get stuck holding an expensive bag 5 minutes later when somebody who is not necessarily another long decides to take the stock down. If this wasn't the case, we'd be at $3 right now. Most of us have limited powder and maybe 567’s saving his for a long ride up, to support the stock, but regardless, he’s waiting on timing. All of us seem to be waiting on timing. I hear a lot of yelling about buying, but I haven’t seen a lot of buying.
I am in another stock right now with a similar share structure and a similar potential. Very tight group of longs pretty much own the float. However, these guys have DEEP POCKETS and I mean DEEP. 5-10 longs will spend $5K-$10K in a day, every-single-day to hold the stock up and keep it from dropping. It gets attacked and manipulated and they step up and keep it up. They fill the gaps.
I think what a lot of us are worried about is how much money is really here to hold this up until we're milling NEXT SUMMER. It is going to be a long fall and winter for CG, and us. There will need to be some serious, constant cash flow coming in here to hold the stock up around a dollar, or even 50 cents for the next 8-10 months. IS THAT CASH HERE? I’m asking you all. We know it will be here next year, but is it here now? I'll be honest and say I ain't got that deep of pockets. I maybe have another $3K-$6K to throw at this until next summer, unless I have some other positions do what I hope they're getting ready to do. You bet I will be trying to buy the dips if I can. I usually have “nets” set up, which many times means I end up buying the ask. So that's why some of us are hesitant. If we had more, consistent communication from Guyer - even if it's consistent, regurgitated morsels to hold us through the next 8-10 months, that would help big-time. Progress indicators go a long way in keeping existing confidence up and new investors coming in.
Some say share count is king, some say share PPS is king. It's both. Either don't mean squat without the other. As I said months ago, it's going to be a long winter and there needs to be a steady flow of new money coming in here and staying in here.
Sorry about the book and sorry to the choir I'm preachin' to.
GO $CGFID
I loves me some low float - this thing moves fast. This will continue to get new eyes on it - longs and shorts. Be ready!
GO $CGFID
We should see another down day today. Lack of buying pressure allows the MMs to manipulate this and shorts to short it. The $1 PPS was a false summit yesterday and that's why it dropped right down. Our real loss was from .5 > .4.
We have no idea of where this will bottom yet. The more longs sell, the further it will drop. We longs have the ability to own the float at some point, but I think that's a ways off. Still lots to accumulate before we're there.
Good luck all longs - hopefully your shares are getting available to you today and the days to follow.
GO $CGFID
FWIW, I have ALL of my previous, converted shares now available to trade with/sell etc., as soon as the market opened this morning. This happened VERY fast with Fidelity. Basically one day. Yesterday, I could not manipulate my exisiting CGFIA/CGFID shares - today I can.
GO $CGFID
I think we can expect this insanely large spread until the volume picks up.
$CGFID
NEWS:
News From Colorado Goldfields
Colorado Goldfields Announces FINRA Approval of 5000:1 Reverse Stock Split; Trading Symbol "CGFID" for 20 Business Days; Colorado Division of Reclamation, Mining, and Safety Approved Reclamation Work of Tailings Ponds Commences
Gold Stocks
LAKEWOOD, CO - Colorado Goldfields Inc. (OTCQB:CGFID) (OTCQB:CGFIA) announces that the Company has received approval from the Financial Industry Regulatory Authority, Inc. ("FINRA"), of its 5000:1 reverse stock split. Beginning September 12, 2012, the symbol will be "CGFID." After 20 business days, the symbol will revert to the original symbol, "CGFIA." The post-split shares are assigned the new CUSIP number of 19647Y609. Transmittal letters will be sent to all shareholders of record affected by this reverse stock split by the Company's transfer agent, Corporate Stock Transfer of Denver, Colorado.
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 reverse split will provide benefits to our shareholders by improving trading accessibility and liquidity, thereby enhancing long-term shareholder value."
On September 12, 2012, 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 issued and outstanding Class A common shares 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.
As part of the on-going reclamation of the exiting tailings ponds at the Company's Pride of the West Mill, as approved by the Colorado Division of Reclamation, Mining and Safety under Technical Revision No. 11, the Company is proceeding with evaporation of the remaining waste water contained in the mill drain pond and cell 1A of the existing tailings ponds. Both of these facilities are being reclaimed in accordance with the technical revision, which was first approved on June 27, 2011.
The mill drain pond contained approximately 90,000 gallons of water and Cell 1A contained approximately 1,000,000 gallons of water. Since August 12, 2012, approximately 800,000 gallons of water has been evaporated-- 90% from the mill drain pond and 75% from cell 1A. Evaporation of the water, the first step in reclaiming the facilities, is expected to be completed by September 30, 2012. Following evaporation of the water, the old liners will be breached and the areas backfilled with reclamation materials. Three specialized dewatering 2 x 2 pumps running at 3,450 rpm and 20 water sprayers are being utilized to evaporate the water.
Gold stocks
About Colorado Goldfields Inc.
Colorado Goldfields Inc. (OTCQB:CGFIA) (OTCQB:CGFID) (http://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
G'mornin CGers. Good luck here today.
Hopefully that spread will tighten up some today and we can hit $2, and $3 by Friday, LOL. Hey I can dream. Stranger things have happened. This is a pretty strange time right now and I don't think any one of can predict how the next week or two is going to play out. I love it! Finally, we can trade this thing, instead of staring at 3 zeros for months on end.
Thanks for the updates Optimiss! Please keep 'em comin!
GO $CGFID
Loving the GTGP. Great work here longs. Keep it up for the prize. Our time is very soon.
GO $GTGP
Brendan, as I and many others have told you before, GUYER HIMSELF has said he expects operations to start BEGINNING of SUMMER 2013.
He said that in a PR, you and we have read. How much clearer can you get than hearing it from the top?
$CGFIA
LOL! Sure wish I could access my old shares rye nah!
$CGFID
Nothing has ever been "normal" about the way this stock trades.
GO $CGFID
LOL!
So we won't be able to buy any of this CGFID ticker for 20 days?
I thought we were going to be able to buy new CGFID shares, just not trade any of our existing.
Fidelity shows my existing shares, converted correctly (5000:1)with a 'pending' status.
GO $CGFID
EDIT: Bid's coming up - now @ .20, Ask @ .52
No trades yet. Who's got orders in? 60K on the .15 bid...
GO $CGFID
Is anybody else having issues with the iHub app (both iPhone n iPad) finding the new CGFID ticker?
Fidelity shows mine converted FYI.
So we should be able to buy the new ticker today, right?
Just can't sell / trade our existing shares...
Going to be pretty interesting today!
G'mornin all! GO $CGFID!
LOL Sounds like business as usual here.
I don't either...
I pulled a portion of my shares here back out into cash, as I bought them all at .0001. No loss. The issue is, we're still a year away from revenues. And that's from Guyer (said maybe they'll be milling beginning of summer '13.) I think the PPS will be pretty volatile in the meantime. I'd suggest keeping a sizable core position and hedging against a PPS drop with some cash in the waiting.
The new S/S will be awesome, but a year without revenues is a long time. Hype alone typically doesn't last a year.
If I'm wrong, worse case is you rebuy your shares and get back in, but at least you have options.
Just my opinion.
GO $CGFIA
Good questions. Bunch of speculation here so far from what I'm seeing. Getting impatient. My money could have been making money by now.
$CGFIA
So what's the haps here. When is this r/s going to happen?
Is FINRA delaying for a reason? A reason we should be concerned about?
Optimiss, any chance you could take a few pics of the POW and see if stuff's gettin' done?
I'm getting impatient.
$CGFIA
Yup, pretty dead upinhurrup today.
$CGFIA
LOL. ORLY?
Continued dilution, trip zeros then r/s.
Wash, rinse, repeat.
The foreseeable future for PVSP.
No telling when/if things could ever turn around for the shareholder. This is one to flip not hold.
Great post Ficose. All good points, summarizing the need for the r/s. I'm in a low-float, long-controlled stock and it just plain rocks. I'm buying more of it, BECAUSE of its attractive share structure, zero dilution, incredible CEO and insane potential.
If all things fall into place and things are as they are supposed to be, CGFIA could be a similar situation. I see the r/s as turning the page here into something realistic, instead of laughable.
I have a concern that so much time will pass between now and operations. There is long accumulation and hype - the latter doesn't last too long without results. We've got close to a year before the possibility of revenues. That's a long window for manipulation.
It's honestly hard to say what kind of trading is going on here on a daily basis. Any retail sell shows as a retail buy, so it appears that people are still picking up 100M shares a day, when I know for a fact, there's a lot of selling going on. It would be interesting to see a new, accurate Armada.
This limbo is killing me though. I wish the r/s would just go through so this can trade like a normal stock. It is what it is, let's trade it like that. We might be very surprised.
$CGFIA
The company themselves have already estimated early summer '13 for operations to begin.
Can't get much clearer than that. I think that is the most realistic thing we've heard.
So, enough speculating and hoping - they've given a timeline. We should be hoping they meet their own timeline, not 6 months before.
Holy crap this is turning into a cluster. Er, it has been a cluster ever since I got in this freaking thing. Awfully tempted to just pull out everything and put it into my plays that ARE making me money. This is getting ridiculous and Im seeing a pattern here. I have a screenshot of a post I read on here that was pretty troubling. I've just about had it here. We really could all be here 3 years from now still waiting on things, hoping and praying. At some point enough is enough. I'm starting to get the feeling that Guyer might not be the man we think he is.
LOL, no joke. Fellow bag holder here. This is straight up disastrous here. What a freaking waste, argh. If someone can get this back up to around .014, I could get out at a 50% loss. I'd be ok with that, lol. Someone, please?
Kars will jump on this - he's still pumping (for money) this doomed POS.
Took a beatin' today. No worries here, but I'd like our base to stay above a buck. Won't happen until Jimmy gives us some news.
He must be under one serious NDA right now. Must have been told in a pretty serious way to stop giving out info during this time.
I just can't believe all of the nervous nellys here. i've been here over a year and have NEVER sold a single share, LOL. Not plannin to either, 'til we're well into double dollars.
GO GTGP
ARGH! Ya got me! Well played, LOL.
GO GTGP