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There she goes! So easy.
Last chance to load up blast off in 10, 9, 8, 7
Why not? The PPS was point .01 after everything you just ran through in late October. So that day the company was worth 20X more than it is today? Nothing has changed since that day. The debt has actually been reduced since that day and 2-3 of the notes have been paid off since then.
Lots of debt was paid off in Nov and Dec.
I am not saying NBRI shouldn't be where is was on Oct 16th, but it shouldn't be 20X less since then.
Got in @ $3.18.
I think once the report is behind us oil will rise back over $50.00.
Let's hope for a quick shake out under $3.00 in the next 30-40 minutes.
Come on man oil inventory report is out today.
http://www.eia.gov/petroleum/supply/weekly/
No that's the estimate report. The real deal is out at 11 today. It's typically out Wed but with the holiday this week it's pushed back a day.
Nonsense he stated a fact. The PPS at .01 when they failed the second raise dropped by 90% on news that materially didn't matter much in the long run. This spring the raise will be fixed and mining will begin.
However the timing of the dilution and the raise failure was worst case scenario which accelerated the drop.
Based on the properties, the price of gold and now with less debt NBRI should have a similar market cap at the level it was last October approx $2M. Today it's cap is approx $100K.
Hope so for a few minutes anyway.
Report is out at 11 today right? I wouldn't wait till after 11 to buy.
Where 's everyone buying? I am thinking about 10:30-10:45 and hopefully $2.88ish.
This is not accurate VWAP isn't calculated this way.
Link to show your number is correct?
Obviously this isn't true. It's a ridiculous statement. There are many unfound nuggets in the mother lode. Someone finds a large nugget every few months in small family mines. Prolly more unfound nuggets left in the Ruby than Best found total.
Huge amount of mining left to do and lots of nuggets left to mine.
Looking for a trade around my core.
2 weeks ago the "inventory report bottom" didn't hit until late that afternoon or the next morning.
Last week the "inventory report bottom" hit seconds before the report became public.
This week with the short time before the rig count report release on Friday I look for the "inventory report bottom" to occur late tomorrow or first thing Thursday morning hours before the still bad but rapidly improving inventory report.
Typically the inventory report comes out on Wednesday but will be Thursday morning this week with the holiday.
So a note holder wouldn't allow a sale to happen so they could get paid back in cash?
Ridiculous nonsense hyperbole again.
Tangiers would obviously work with NBRI to get paid correct?
Acting like your bank wouldn't allow you to sell your house to pay them back because they hold your note.
It's silly to think Tangiers wouldn't let something happen that gets them paid.
UWTI trades 100% off of WTI crude April 2105 futures. No charting of UWTI means anything.
Any charting should be on WTI crude itself or the April contracts.
If Perry can secure a non dilutive loan for the debt the PPS would run to .25 very fast.
Let's hope he can attack the debt either through additional claim selling or get a JV partner to foot the expenses getting the Ruby up and running.
Except for the +600 less rigs drilling +1200 wells less each month removing +600,000 Barrels of oil per day off of future production.
Flash forward 30 days when this is 1000 less rigs drilling 2000 less wells per month and the over supply quickly becomes a supply crunch.
The price of oil won't wait for the over supply to be eliminated. Deep pockets are already loading up as much excess supply they can so they can sell 6-12 months out.
SKIPPACK, PA / ACCESSWIRE / February 17, 2015 / North Bay Resources Inc. ("North Bay" or the "Company") (OTC: NBRI) (PINKSHEETS: NBRI) (OTC: NBRID) (PINKSHEETS: NBRID), today announced that the Company has completed its recapitalization in the form of a 1-for-200 reverse split of its common stock previously disclosed in its SEC filings on January 6, 2015 and January 16, 2015. The reverse split was approved by FINRA to take effect today at the market open, at which time North Bay's common stock will trade on a split-adjusted basis under new CUSIP number 657488300 and temporary symbol "NBRID", with the "D" appended to signify that the reverse stock split has occurred. North Bay's trading symbol will revert to "NBRI" after 20 trading days.
The reverse stock split will reduce the number of shares of common stock issued and outstanding from approximately 1.92 billion to approximately 9.6 million. No fractional shares will be issued in connection with the reverse stock split. Any remaining fractional shares will entitle a shareholder to receive a full share of post-split shares. Further details of the reverse stock split are contained in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on February 13, 2015.
The reverse stock split is intended to improve market awareness of the Company's common stock and position the Company to regain compliance for the renewed listing of its common stock on the OTCQB exchange. Notwithstanding the reverse stock split, there can be no assurance that the Company will be able to regain compliance with the OTCQB minimum bid price listing requirements or to maintain its renewed listing should it be achieved.
The Company also reports that discussions on a joint-venture and/or other non-dilutive funding for the Ruby Mine are continuing. As well, discussions have also been underway with several prospective buyers of one or more of our Canadian properties. The Company is also working to secure a large debt consolidation loan that will provide non-dilutive funding to extinguish most if not all of the existing debt on our balance sheet as well as operational funding for the next 12 months at the Ruby Mine. We remain optimistic that news on these initiatives will be forthcoming in the near future. However, there is no certainty as of yet when or if any of these prospective transactions will be consummated. We will provide additional updates in the near future to keep shareholders informed of any new developments as soon as there is material news to report.
North Bay CEO Perry Leopold explains, "Over the past five months we have been focused on paying down debt as much as current market conditions will allow. No new debt has been incurred since last September, and we have temporarily cutback on all projects, including Fraser River and the Ruby Gold spinoff, to conserve our available cash as much as possible as we continue to reduce the debt on our balance sheet. Despite our cost saving measures and commitment to reduce debt, our share price has been inexplicably held down at an artificially low level for several months now, such that our present market cap does not in any way reflect the fair value of our assets. This persistent low valuation has caused dilution to get out of control, as we have had to issue ten times the number of shares for same dollar amount of debt conversion than would have been otherwise required had our share price remained where it was last October when we announced the suspension of operations at the Ruby for the winter. By the time our outstanding shares exceeded one billion it was clear that we had no alternative but to recapitalize our capital structure through a reverse split to help restore some semblance of rationality to our share price. We sincerely regret the need for this action and its effect on shareholders, but we remain optimistic that the initiatives we are working on will allow us to strengthen our balance sheet and resume operations in the near future at all of our projects. The fully-permitted Ruby Mine remains a viable near-term revenue opportunity. Mt. Washington and Tulameen Platinum remain compelling projects, each with significant mineralization worthy of further development. Fraser River and Monte Cristo remain low-cost placer mines that can be in production once government agencies are satisfied there will be no impact to any sites of historical interest. And the option on our Brett West property remains scheduled to be a source of additional cash flow over the next 2 years. None of these things are presently reflected in our market cap. We believe this is a severe and unjustified market distortion, one which we are determined to see corrected as we move forward to achieve our goals."
About North Bay Resources Inc.
North Bay Resources Inc. (OTC:NBRI) is a fully-reporting junior mining company with current operations in the US and Canada.
In the US, the Company's subsidiary, Ruby Gold, Inc., owns and operates the Ruby Mine in Sierra County, California. The Ruby Mine is a fully-permitted underground placer and lode mine located in the northern extension of the historic Mother Lode system. The Ruby is known to have produced over 350,000 ounces of gold since the 1850's, including some of the most spectacular gold nuggets on record. The Ruby Property covers approximately 2,312 acres, only a small portion of which has been explored to date.
In British Columbia, the Company holds 100% ownership of a multitude of significant mining properties. These include two gold-platinum placers, the Fraser River Project and the Monte Cristo, and lode projects such as the advanced-stage Mount Washington Project on Vancouver Island, the Brett West/Bouleau Creek Gold project near Vernon BC, the Coronation Gold project in the historic Slocan Mining district, and the Tulameen Platinum Project near Princeton, BC. In addition to its many precious metal projects, the Company also owns additional prospective projects that host strategic mineral resources such as Vanadium, Crystalline Flake Graphite, Olivine, and Rare Earth Elements (REE).
The Company's mission is to build a portfolio of viable mining prospects throughout the world and developing them through subsidiaries and JV partners to their full economic potential. North Bay's business plan is based on the Generative Business Model, which is designed to leverage its properties into near-term revenue streams even during the earliest stages of exploration and development. This provides shareholders with multiple opportunities to profit from discoveries while preserving capital and minimizing the risk involved in exploration and development.
Additional information on the Company's many properties and ongoing projects is available at the Company website at http://www.northbayresources.com.
April is 45 days away. Also winter has been mild so April can easily turn into March 15th.
Let's all wish NBRI and the Ruby miners the best of luck reopening the legendary Ruby mine to production level in the next few months.
Exciting times for sure!
Uh how about 100X more work done in the last two years without the same incident occurring? Anyone can see NBRI's contractors fixed the issue that caused the minor accident 2 years ago.
Ridiculous to bring this up today as some fear factor.
LMAO so the hiring of professional contractors is a shell game?
Hyperbole gone wild it seems.
LMAO they will switch to production when the raise is repaired. Hard to produce gravels if you can't get into them.
Looking forward to see what's going to happen this spring.
Thanks for the MSHA link. NBRI has a terrific operation with very few issues reported. This is hard to do in today's regulatory environment.
100% false. Anyone could walk to the south terrace in 10 minutes. You've got them riding a train for an hour.
LMAO this is hyperbole going mad.
They are saying oil is going lower. But what are they doing?
http://www.bloomberg.com/news/articles/2015-02-16/hedge-funds-bets-on-brent-oil-are-most-bullish-for-seven-months
I see it's over $53 and rising??
Why? Price is based on oil futures alone. Everyone who has ever read this page could sell UWTI Tuesday at 9:30 and it wouldn't change anything for more than a few seconds at most.
Who's holding over the weekend?
Huge news for longs as the pace is getting faster for removing rigs from use.
-98 is a higher percentage than the -108 from 2 weeks ago.
-98 holly cow!!!!
No not really oil still 50¢ or so under the highs hit last week.
Prolly .01 decay at most now.
On deck with Brent at $62.00.
Drill rig counts are far under 2014 and 2013 levels yet there was no over production during that time. Surely in their efforts to lift oil price quickly they will over shoot the mark and cause a shortage in 9-12 months. Of course they will over drill yet again and crush the price back down in 2018.
If this is the case we might get a 3-5 year seesaw effect and ride UWTI + DWTI for a few years.
I disagree, but time will tell. If we don't get a super spike the next 9-12 months I think $90.00 is still an easy target the next 12 months.
I think about -80 is baked in.
Last week horizontal rigs really fell off at -80. Since we are down 520 rigs from the high already the amounts will drop but should be a similar % of rigs to keep the upward momentum on oil.
See the bottom graph for horizontal rigs, or shale oil rigs.
http://gis.bakerhughesdirect.com/Reports/YeartoYearComparisonForDirType.aspx
So if oil spikes to $120.00 in 9 months how high could UWTI go?
$80 seems in the bag for 3-6 months.
Decay doesn't occur when the market moves higher faster then expected. The opposite actually occurs if oil jumps quickly.
Not really NBRI would only need a little money to repair the raise and begin mining.
I want to see the news that comes out post R/S and will decide then how much to buy.
Oil looking great this morning. Rig count report today and if it's down 70 or more that should send oil over $55.00.