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The 8K shows that another evaluation must be complete which is not due until the end of February. It also has to be agreed upon, etc. so expect the deadline to pass with no news release even if something is actually happening.
The 8K also indicates they are restating the financials from the last number of years. My experience is that restating financial statements is only done to add more debt and costs that you feel were missed.
It is what it is.....
This is what I read, cash from any pending asset sale now has a claim of 50% against it to the "investor" and the investor can call in their remaining debt marker (>6 million) as soon as the sale is complete while accruing 12% interest while they wait.
Pretty good deal, for the investor.
The jury was back a long time ago. Write down all the garbage that has happened in a list and give it to someone who has no knowledge or context of the events or company and ask their opinion. They will laugh and say the Nigerian Prince sent them that email too.
Payments over years allow management to keep bleeding the company out.
https://www.google.ca/maps/@43.6748667,-79.3958353,3a,75y,338.95h,91.71t/data=!3m6!1e1!3m4!1suFH-MnhYFzBSZFCVfGQirQ!2e0!7i13312!8i6656
Here is the location of the meeting for anyone interested who might be in Toronto at the time of the meeting. Number 200 is to the left of the designer dress shop.
For a laugh I checked the posts from one year ago today. I could have reposted them with no editing and no one would have been the wiser.
It's like I am Bill Murray and this is Groundhog Day....
I think it is time I moved on and let this board and this stock fade into my memory. Best of luck folks, I'm done with the dragon.
Yup....
That just happened.....
Looks like the volume is updating again. I have never seen that before.
Something is up....
I leveraged down, and like I said before I'm here to see it through. With that said, there are still many questions I have about the process.
Shengda is purchasing the Dragon's 40% stake in the Sino-top joint venture company. I know some numbers have been floated on this board, but are those prices Silver Dragon's, or are they the share prices for the valuation of Sino-Top? I am not familiar with "Sino" JVs in China and this is the only one I have been involved with. I've tried to look for information on the structure of Sino-Top to understand if the ownership is set up with shares structure and if so what a SP might be, but I have not been successful as they likley do not need to post it in detail. I know that the share price of SDRG has been mentioned in these discussions, but as they are selling the 40% stake in an asset, I fail to see how SDRG's SP is connected to the valuation of Sino-Top. Still confused, but still here.
I'm here till the conclusion either way. I have no idea what is going to happen, nor do I presume to know what Marc is going to do.
If there is a deal in good faith negotiation, we should not see anything official or credible until it is finalized and presented to the board for a vote or recommendation to shareholders. Certainly no news releases should be posted until then.
It does appear that someone wants SDRG's stake in this property. All the banter aside that does imply value.
I expect it will take some time. The meeting was called informal, so my expectations on any definitive information from it are tempered. If everything went well, an informal meeting implies coming to terms on the agreement. The next step is to have those terms drafted by the lawyers and then signed once approved by SRDG in what ever way they will do that. Finally, there is the transaction at some point after that.
I would think the first parts of that work will take a week(s) and the second part could be months. That is if everything went well. If there is no deal to be made I expect there would be an announcement fairly quickly, but if there is a deal ....well these things take time and even on the low and of the price range we are still talking about a big pile of cash to change hands and that takes time.
It most certainly is nice to see this volume.
Interesting day, have not see trade volumes of this size do anything but lower the price recently. Usually anything close to 500k per day pushes the price down to below $0.04 and then requires a day or so to recover.
Now that income tax year end has passed and anyone looking to take a capital loss has run out of time I wonder if we will finally see some more progress in the stock and maybe some positive movement?
How I have missed banter on this board. It warms by heart to see it, and just before the holidays no less.
Ho.. Ho .. Ho..
I appreciate you taking the time to put your comments and thoughts forward for discussion. Like most on this forum I am waiting for the news from the SRDG to decide what is next and see what options I might have coming. I am connected to the oil industry for my day to day work and its getting a little scary out there at the moment. Definitive news from SRDG would be a welcome distraction.
Cheers,
DW
I read your point and I agree with your comments, but why is the USD still seen as such a safe haven?
Japan is in recession, the Euro is in serious trouble again, Russia is in total ruin, China is down, etc., the only currency holding is the USD. I would have thought that some might be looking for some diversity and turning to gold out of tradition by now, even just a little bit.
I just scratch my head as that seems like an awful lot of pressure.
In an attempt to distract us while we ALL wait to see what is going to happen with SDRG, I thought I would throw out this question?
With all the events happening in: oil, Russia,weakened Chinese economy, Japan recession, and ongoing questions about the EU and eve Greece; why is there still no pressure on gold and silver?
The only currency holding its own is the USD. You would think that based on the political events alone there would be some run on precious metals. I'm stunned by the investment climate right now and the lack of price pressure on the old standby's has me scratching my head.
We are in agreement, shareholders (Marc included) are in the same boat. Beyond that....well we just have to wait and see.
I am optimistic though, just a few months ago my expectations were pretty low. I a have reason to pay attention again. For the longest time only a few people posted (if at all) on this site. Most of us just went dark. Now there is some buzz again and some debate, which is always a good thing in my books.
If the deal is not a good one for Marc, what motivation would he have for selling? He still draws a paycheck from the company, once the deal is done, that will stop. If the deal was poor he would be better off just bleeding out valuation and holding on as long as possible. The entire sector is in the dumps and all junior miners are basically in survival mode. Marc could blame the situation on the market and just tread water like the everyone and keep cashing paychecks. The stock is trading again and that alone would buy him another couple of years with investors given the market conditions.
I wouldn't answer anyone at this point if I was Marc. There is nothing to gain from it. It's frustrating, but we are all just going to have to hurry up and wait. I would be surprised if we hear before Christmas, but I hope I am wrong on that.
I know what you mean, but under $0.10 these stocks seem to take on a life of their own and not that long ago it was well below where we are at now. Shengda is a serious company and I have a hard time thinking they would make this announcement unless they were already very close in agreeing on terms with SRDG. If they can't make a deal they shakes their own investor confidence to close a deal and I'm sure Shengda don't want that. They will do everything they can to make it happen now.
No deal is 100% until the money has changed hands, if it did not go through we are still alive on the OTC. I would consider getting SRDG on the OTC as a reasonable and prudent Plan B, which if I was the CEO I would want to have in place.
No one should be here if they can't manage risk. I'm not telling my friends and family to buy in as there is too much risk for novice investors here, and I don't risk other peoples money. I only risk my money and only what I can afford to risk.
I don't particularly trust Mark with just my money, but this is also HIS money as he is a serious share holder. I don't see the play for Mark to get value for his ownership stake without increasing my value too. Maybe there an angle I don't know about, but that is part of risk. Either way when its all over I'm going to have a great story to tell. Will the moral of my story be "fortune favors the bold" or "fools and their money quickly part", I really don't know, but I doubled down and I am here to stay. Making money is not supposed to be easy, why do people forget that?
Silver Quest was a once in lifetime event...or so I thought, but it was also a different situation. They were acquired and shareholders had the choice of cash, new stocks, or even a combination of the two if I remember correctly. All correspondence by post mail.
I don't know what to expect from SRDG, everything takes time and the money on the table is massive. No company will part with big money fast if they expect to stay in business long.
A few months ago SRDG was basically a dead part of my portfolio sitting on the back burner. I think people should temper their expectations. Doubling your money in a fiscal year is amazing return, beyond that you are gambling....
I've been through acquisitions before, Silver Quest was the best one for my portfolio a few years back (almost a 20x return), but never something like quite this. Typically you get a letter in the mail with voting instructions and reply dates for shareholder votes with a letter from the management on what they would like to do and you vote as you see fit, end of story. There were options in my voting agreements in the past for cash or share exchanges as part of the submission for compensation.
Junior miners are junk by nature. Even before the crash junior miners were junk, it's just with the rise in gold some investors forgot that.
Junior miners are junk until they are not. When they catch a cold they really suffer, but when they get hot, they blaze. If you want a safe investment, buy GE.
All I know is that looking at the 3 month chart in a sector that is cold, this one has my attention. Do what you want, but for people looking for a new horse to race this one is looking better all the time. Who knows if there is a deal? If there is, fantastic. If there is not, I still have the 3 month chart and that tells me to pay attention.
Nice point, look at the 3 month chart. You can't compare this stock to what it once was, those days are gone. Those days are gone for the whole industry. No mining stocks are returning value at the moment. Generally the only thing you can do is look for bargains, sit on good investments, average down, and wait.
The volatility in the price based on tiny trade volumes is just noise. Micro analysis is pointless. Look at the chart and the trends.
Not that long ago there was nothing to look at, now there is at least an actual chart. Marc can't get out without losing most of his value. At least we have one person motivated to work for the share price, if only prompted by his own interest. Not that long ago I was not sure we even had that going for us. There is a ton of motivation to move this forward now for anyone with a significant position. I am happy to go along for the ride and see what happens. I've waited this long, I can wait a bit longer.
Investor interest in this stock will start to fade unless some information is released. If I was not holding already I would have likley moved on. With no information how can new any money see the opportunity here?
I've seen information about physical gold and silver verses paper currency backing for a long time. While I think it makes for a very exciting discussion, I think it's just a little too out there to be taken seriously.
But I'm just happy to be following the dragon again.
My expectations are tempered for the whole sector these days, but based on where we were just a little while ago I'm very pleased to still be here. The consistent volume is very encouraging.
If you read the recent financial statement they have finally set the stage for the end. They have no money for any of their commitments and they are just going to keep selling off what they can to keep treading until they finally drown.
Almost a penny....but not quite.
I've often wondered about that myself. Seems like everytime there is something to present value they dump it. I've followed this stock for a long time and once upon a time, I even made some money with it. I just really do not see what the plan is to move forward and that is the part that concerns me the most.
I think there is real value here for investors, but with the current management undermining that value with from my perspective seems to be poor decision making I am hesitant to invest again. I mean I can go to Vegas to gamble, at least there they give me free drinks .
I would just like to see someone with actual mining experience making the decisions. I know this is a perpetual game of manipulation for investor money, but its time they got back into the mining business as well as they are totally out of balance.