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Stooge did-not want to be at mine visit... on 4/26/13 ... he was defensive, condescending and frankly gave misleading statements that turned out to be outright false.... especially about the infamous black sands.... in front of about 14 significant Investors....
Nothing made any sense until now.... Stooge and Stallings take on toxic financing that eventually ruins the company..... Stallings mismanages the placer operation and wastes $300,000 of investment money - never doing any testing of the placer gravels.... the company ends up with a measly $619 in revenue from gold recovery operations... then the toxic financing kicks in like a cancer to consume the company.... Stooge refuses to accept help from Investors willing to fund an assay program for the lode gold potential....
Stooge and Stallings are absolute amateurs and idiots... not having any mining experience or asking for help from the right resources, never putting out proper PR's, hiding behind Reg FD to not communicate with shareholders.... Investors trusted their judgement and they failed miserably... they are an embarrassment...
What Stooge is comfortable doing is dealing with government regulation - per his background, so he wastes precious resources on covering his butt with the SEC... all the while conspiring to sellout the company to pay for his ridiculous and amateur mistakes and so that Stooge and Stallings can get their back pay....
Stooge guts the company for his own selfish reasons - selling the assets to Gunner for useless "units".... having absolutely no concern for the shareholders that have lost 95% of their share value in the past 9-months.... shareholders are irrelevant to Stooge.... clearly he has no conscience....
Stooge hides behind the "Business Judgement Rule" of corporate law... the fact is he provided misleading information and violated the laws for governance of a Nevada based corporation....
Stooge was/is an absolutely awful CEO and Pres and Director that took a company with potential and ran it into the ground... gutted it... now associated with a seedy Gunner operation.... we can also blame the other directors Peter Cao and Baoky Vu for being just as useless and stupid and controlled by Stooge....
The best thing that could happen now is for Stooge to resign.... actually even with the shell left of what use to be Bonanza - in the hands of talented and experienced micro mining operator, this company could be resurrected.... but not with Stooge still "running" it.... or should I say "ruining" it...
This fiasco will follow Stooge and Stallings for the rest of their careers....they can try to cover it up, but they ultimately ruined the financial well-being of a lot of people.... and for that they will be remembered and judged....
All IMHO of course....
This Gunner "Deal" is not a merger...
Bonanza is simply selling everything it owns for 1% of Gunner's worthless/illiquid "Units" and a promise of $636K to payoff Tonaquint MAYBE sometime in the future...
It's like selling everything you own for some monopoly money and a check dated in the future that you hope won't bounce to pay the loan-shark down the streeet...
And there is nothing left except the idiot that put the brilliant "deal" together...
Kinda like a Chapter 7 liquidation bankruptcy without even knowing it's a bankruptcy... no debt afterwards you hope... but nothing left either....
Oh well, there is always the air-mattress to sleep on... it's only our precious money...
IMHO
10Q and 10K should be out shortly....
Wonder how much revenue?....lol
IMHO
They are called "stoojettes"....
The idiot's blind followers....
IMHO
Not yet...
But will!
Suggest others also contact them...
IMHO
Anyone know best/most-effective contact info for ACC&BLM?
Like to know that they KNOW!
IMHO
Yes this is the WORST "deal" ever....
The idiot sold all the Bonanza assets for 1% of worthless/illiquid Gunner "Units".... and $636,000 "Over-Time" to payoff the toxic debt he created over 14-months....
Oh and Bonanza gets to keep 20-acres (3%) of the claims?? - 20-acres with no road infrastructure and who knows - maybe no ingress/egress....
How stupid can someone be?... and where is Cao and Vu the absent Directors who co-conspired to give it all away?
IMHO
This whole deal is mind-boggling....
I hope you are correct that ACC or BLM intercepts this ... this deal in theory will be closing in 3-weeks....and agencies are slow to react....maybe they need some quick notification help....
On the Bonanza side.... the idiot "guts" all the assets of Bonanza to payoff the toxic debt he himself created in just 9-months time.... leaving the ruins for shareholders... oh I forgot - and the 4-million worthless and totally illiquid "Units" ... all with no shareholder approval and minimal disclosure... WOW!
This effectively is a leveraged buyout using a worthless currency and then bankrupting the company without a bankruptcy.... shareholders are wiped-out as the shares go to zero as there are no assets left.... any pump would be for Gunner "Units" - not Bonanza shares...
idiot (not capitalized intentionally) has wiped out the company "in one fell swoop", with his brilliant "merger"???... looks good on his resume... lets not forget the other inept directors as well that let idiot engineer and get away with this....
Was this a planned destruction of the company or just a really stupid idiot running it?... what do you think?
IMHO
Kenny... in your last sentence, I wasn't sure if you are being facetious or do you actually believe that the Gunner "pump" will reflect onto the Bonanza shares - even though they are pumping those worthless Gunner "Units" - not Bonanza stock...
And of course all the Bonanza assets by now have been "gutted" and given to Gunner unconditionally with monetary payment "over-time"...lol... oh I forgot... Bonanza has 4-million Gunner "Units"
Wow... the skill in negotiating such a GREAT deal....
IMHO
Gitreal... why do u feel that this BONZ-Gunner deal will not happen?... (btw - not that I want it to)
It seems that Bonanza mgmt gets away with whatever they want without any accounting to shareholders or to any govt agency....
Do you feel ACC or BLM will actually intercept this stupid deal?
Or other?
The Mine Visit was 4/26/13.... just 3-months ago....
Approximately 12-shareholders were there for the visit....
Shareholders wanted answers...... Shareholders were very anxious and upset....
Stoj was totally defensive, arrogant, condescending, aloof, refused to listen to new ideas, unapologetic for the miserable company performance and stock price and really just not a very nice person.....
Clearly Stoj did not want to be at that mine visit and he even brought an attorney with him...... an attorney at a mine visit. huh?
All of this occurred before we knew the total gold that was recovered by the placer operations is $619.... wow....what a return on capital of $300,000....
Bottom Line: Stoj is inept and paralyzed by his own ego.... unwilling to ask for help and advice.... crippled by his own nasty personality.... not a people person by any means much less a leader - a CEO that has no mining knowledge and no experience in managing a fledgling micro-/exploration/mining....
As ML said, we get what we pay for...
The problem with this theory is.....
There is no "pump" into BONZ stock.... Stoj has no idea how to properly PR a company and make the stock rise.... no idea how to tell the story and get potential shareholders excited.... no idea on how to communicate to the shareholders he is really working for....
Also there is no money to pay salaries.... contractors like Arne are still waiting to get paid what they are owed since February.....
But Stoj did work at the mint..... and he is a mining genius....
Agreed Froggy... No Communication is forthcoming from the very company the shareholders own.... that is a huge problem....
To be more clear on the geomapping/sampling/drilling/assaying program/plan that I put together with Arne Stenseth's input... and attempted to present to the Bonanza Board...
Arne Stenseth and Jeff Berridge are first class.... I have only the highest respect for them.... and I miss-spoke calling Arne a geologist as he did tell me he is a geochemist....
The financial support for this program is from existing shareholders that believe in the company and the potential of the claims - many whom have visited the property... Arne was not putting up any of his money at all - I did not imply that... I asked his opinion on many of the facts and figures I needed to create the Plan..... I have saved several of his reply emails with the supporting information.... proof of his input into the Plan....
So why then did Stoj say that Arne did not contribute information to the plan?... I believe Stoj is a very insecure individual that is flat out scared of someone making him look bad... the fact is he has mismanaged this company - now taking it over a cliff... why would he want anyone to provide a real plan that would make him look badly?... maybe because he deserves to be fired?.. you make the call... Stoj does not want someone or anyone to make him look bad by having a better idea - or any real plan at all...
There are so many questions: Why does Stoj ignore shareholders?.... Why does Stoj refuse to hold a shareholder meeting to elect Directors?... Why won't Stoj add another Director to the Board to represent shareholders?...Why does Stoj NEVER release any information about the company to the people he works for - the shareholders?... Why does a toxic financing company now own 10% of BONZ for pennies on the dollar?... Why do the Directors not take control of this company and fire an inept CEO that works for the Board - doing their fiduciary duty?... Why is the stock now down 92% since the start of the year?... Why does Stoj not care about destroying shareholders hard earned money that their families entrusted to his stewardship?... Why is Stoj taking this company closer and closer to bankruptcy?... Why did Stoj waste all the borrowed capital on a foolish placer program?... What does Stoj do all day long - he certainly is not working on BONZ?.... Where is Stoj's infamous newsletter?... What happened to all of the black sands that were processed at the mining site and disappeared?...Why did Stoj put an out-of-work stock broker in charge of the placer mining - who has no mining experience?. Why is Stoj still CEO when he has trashed this company? Why does Stoj think that anyone would finance Bonanza under his lack of leadership?...THERE ARE SO MANY QUESTIONS THAT DESERVE TO BE ANSWERED.
HOWEVER THE MOST IMPORTANT QUESTION IS: Why are shareholders not PISSED that an inept and incompetent CEO HAS been allowed to continue ruining this company?..... and why aren't shareholders doing something about it?.... At least complain like hell to the company.... Complain to the Directors... Complain to the SEC... Complain to the Arizona Secretary of State.... DO SOMETHING....
IMHO
The geomapping/sampling/drilling/assay program was put together by me - with considerable input and confirmation of actions and costs from Geologist Arne Stenseth.
The program was broken into two segments spanning the 1/4-mile long white quartz formation - the first segment being on the NW end of the quartz where the drilling would likely be less deep. The program would be financed with shareholder funding with provisions including the issuing of PR's at appropriate intervals of the data collected.
I sent this to Stoj and the Board of Directors in mid-May... no response. I requested 3 more times to present it to the Board. Finally Stoj sent me a reply on June 24 stating the following:
1. Stoj accused me of never having worked with input from Arne Stenseth, as follows:
"Our geologist absolutely denies that he worked with you to prepare a mining plan. He has infonned (sic) us that he did nothing but confirm information that had been provided at the onsite visit that you attended where the geologist gave a tour to a group of investors, you, me and others. He had no knowledge of what you w.ere (sic) undertaking, did not see the plan before you submitted it to the Company and did not 'approve of it."
2. Stoj flatly stated that I would never be allowed to present this plan and that the Board would not consider this plan, as follows:
"You made a request for a telephonic meeting with the Board of Directors of Bonanza Goldfields to discuss the plan you have created and alleged that it was done in collaboration with our geologist. The Board of Directors of Bonanza Goldfields Corporation will not have a conference call with you."
So the plan could have been executed and partially completed by now, with Stoj in place. However since he won't even listen - much less consider it, then the plan cannot be executed without Stoj being ousted as Director and CEO.
A CEO should not be a Director in the first place as the CEO reports to the Board. Clearly a conflict of interest. Stoj seems to control the Board entirely.
Remember Stoj did work at the Mint and he has considerable mining experience - sitting there somewhere in the midwest.
Oh I forgot.. CEO Stoj has a Grand Plan...
So far the Plan has worked - Tonaquint owns 10% of the company now.... and more to come...
The mine has been idle for 5-months....
The stock has dropped 90% since the beginning of the year... wiping out Investors hard earned money that they trusted Stoj with as the steward of their investment....
Oh and NO shareholders meeting.... NO new Directors.... No communication with shareholders.... NO newsletter.... NO NOTHING but an empty suit of incompetance....
Just My Humble Opinion of course....
Why wouldn't CEO Stoj accept a geomap/sample/drill/assay plan financed by Investors?
He must know something we don't - after all remember he did work at the Mint. And he has extensive mining experience.
IMHO
I TOTALLY believe that with the right leadership....
That this company will succeed BIG!....
and it does mean we must have a competent leader....
There is lode gold there and now is the time to quantify the reserves..... a plan is in place.... sample/drill/assay and PR the results regularly and accurately using industry standard techniques and professionals....
NOW all we have to do is remove the obstacles and doubters....
One man is in the way - we all know who he is...
Support our cause and we shall succeed and all be rewarded for our patience and faith....
all IMHO of course....
BONZ Shareholder Update - Conference Call Info.....
Date: Tues 6/4/13
Time: 9:00pm EDT
Conference call held by Shareholders with other Shareholders only....
Thoughtful questions/comments only please.....
Email for conference call info to the following address:
bonzshareholders@yahoo.com
All IMHO of course.....
You must not know what is taking place....
A "Word-to-the-Wise should be sufficient"....
as a very wise person always said to me.....
IMHO of course....
Was there at that trench in Mack's Report....
They had dug down with a backhoe between 5 - 10 feet, depending on the trench (3-trenches, 1-sample from each) and the test sample was taken off the sidewall at the bottom of the trench cut wall....
The trench cut clearly showed the green quartz material sandwiched between the white quartz.....
Read the description of the Congress Mine on Wikipedia - second paragraph... same description of rock formation.... and how the gold ran with that vein
The geologists think this is an out-cropping from the Congress Mine vein.... in fact an old Congress Mine map showed their vein(s) extending into Bonanza claims with hand-written notation in column... "we should look at acquiring this property"
One Investor present took 3-samples for himself and is going to have at least one tested for gold concentration.....
Wish the pic hadn't leaked out just yet... want more stock at this price....keep it quiet - just between us....
All IMHO of course......
BONZ is #28 on Breakout Boards.... HOT!
oops... I meant the 4/26/13 Mine Visit
Conference call tonight about 4/16/13 Mine Visit....
Just email me at forsllc2@yahoo.com for conference call info
Reminder: Conference Call Tonight 4/30/13 about Mine Visit....
Conference Call at 9:00pm EDT....
I will describe and answer questions about the 4/26/13 Mine Visit from my observations and what we were told.....
All are welcome with thoughtful questions and comments....
Please... other persons on the mine visit please join in the conversation and share your thoughts as well.....
Send me an email for conference call info...
forsllc2@yahoo.com
all IMHO of course.....
My Daughter Met Dakota Fred from GoldRush Today...
She was visiting Haines Alaska in the southeast corner of the state....
She sent me a text with picture with she and Fred...
Said he was a very nice man....
Maybe a NEW CEO candidate?....Who knows - He does get things done!
All IMHO of course......
Conference Call Tuesday Night 4/30/13 about Mine Visit
Conference Call at 9:00pm EDT....
I will describe and answer questions about the mine visit from my observations and what we were told.....
All are welcome with thoughtful questions and comments....
Please... other persons on the mine visit please join in the conversation and share your thoughts as well.....
Send me an email for conference call info...
forsllc2@yahoo.com
all IMHO of course.....
Very Interesting Mine Visit…. Maybe a $100million GoldVein
I also visited the BONZ mine site on Friday 4/26/13. I completely concur with the observations made by Dennyjames and Froggyone. I had very low expectations going into this visit and came out markedly impressed. There were about 12-shareholders visiting, many of whom had been holding BONZ shares for 3-years. From Bonanza was the CEO, securities lawyer and 2-geologists. To summarize my observations:
1. Placer production is stopped (we knew that)… gold yield not high enough versus costs
2. Placer production did yield gold – the actual amount to be reported in the 10Q released in roughly mid-May
3. Placer black sands were processed by hand separation only
4. As Froggyone said – a very “lively” and somewhat contentious discussion with CEO Mike Stojsavljevich by the group, regarding communication to shareholders/market, quality and timing of PR’s, share price and lode testing/production. I was not pleased with his lack of visible desire to listen to and act on shareholder concerns.
5. BONZ has requested their next tranche of funding from Tonaquint.
6. We explored the identified quartz vein on property with the two geologists at 3 separate locations. The samples that were taken and tested as mentioned in the 4/4/13 PR, were not “surface” samples at all or just some rocks picked off of the ground. Instead the geologists had identified how the vein sloped eastward by about 28 degrees and then dug down between 5 – 10 feet with a backhoe. With this trench wall, they could identify the green rock structure and adjoining it, the rock containing the gold. So all tested samples were taken from underground locations.
7. This vein is about 1/4 mile long and is easily identified by the upward white rock quartz, especially higher on the hill. The geologists believe it to be a “sister” vein (my word) to the Congress vein. They have a Congress sample and will be testing the samples to see if both locations have similar mineralogical characteristics. I have pictures taken by a very nice couple on the tour that I can share.
8. The geologists are very credible – patiently answering all of our questions. They said that for less than $60,000, they could model the gold reserves on about 25% of the most promising part of this vein including drilling 5 – 6 core drillings and can begin right away with the trenched samples.
9. I asked the geologists for their “gut” feeling about this vein. One of them has been mining gold for over 30-years. He said that he believes this to be a very significant vein on par with the Congress formations. The Congress mine is less than 1-mile from this vein location.
10. I believe that this vein could hold at least $100 million of gold.
11. This is a very credible company with clearly the goal to profitably recover gold – not a scam or pumper by any means.
I'm in for the long term and buying more after this visit....
All IMHO of course…..
?
Mine Visit Fri 4/26/13 - Any More Questions toAsk?
Mike Stoj to be there...meeting at 1:00pm....
Thank you Gitreal for your questions...
all IMHO of course...
BONZ #11 on Breakout Boards today at 10:38pm.....
Also Great Gold Geology Info today in discussion....
Gitreal and Baomike.... thank you!
all IMHO of course.....
Great list of Questions for Mine Visit 4/26/13.....
Still want you to come to the mine visit with us Gitreal....
All IMHO of course.....
Anyone else going to BONZ Mine Visit 4/26/13?...
Everyone is invited.... and I will be going of course....
Anita called and emailed me this afternoon, saying to let her know who is visiting so arrangements can be made to get everyone to the mine......
Anita's phone # at BONZ is 928-251-4044
Mike Stojsavljevich will be meeting us at 1:00pm in Wickenberg for the ride up to the mine.....
Please provide me with more questions you would like answered.... instead of all the guessing and speculation.....
All IMHO of course....
BONZ is #20 on InvestorHub Breakout Boards
I'm collecting Questions for 4/26/13 BONZ Visit....
Please post questions you would like asked here on board in response to this message....
Thoughtful responses only PLEASE.....
All IMHO of course......
Anyone see analyst BONZ review on juniorgoldminersreport.com newsletter?
This guy sees something.... says he met with management and visited the site..... and then issued Buy recommendation....
Our problem is that none of us have visited the site lately or been told anything by management other then one PR in 4-months..... all we do is guess-guess-guess.....
All we have been relying on is the opinion of people on this board who say they are experts but who also own no stock and don't care about the stock....
Huh????????
Well I am going to the site in 2-weeks....
And I will report back everything I see and learn ....
And anyone else is invited to visit as well....
All IMHO of course.....
If the quartz vein w/gold is at the surface for a considerable distance...
Couldn't the vein be mined like a strip mining operation is for coal?...
Need dynamite, excavator with sledge hammer attachment, excavator with bucket, front-end loader, dump truck, crusher.... lease this equipment....
Then subcontract the gold separation process?
Is this really that much different then digging down for placer... other then the obvious need to fracture the hard rock, a lot more crusher work and need for chemical processing?.....
IMHO of course....
Yes "Tour" is Friday 4/26/13... still going out...
PR's and Reg "FD" Quiet/Silent Period before 10Q
BONZ is certainly permitted to issue PR(s) in the period spanning the end of a Quarter until issuance of projected mid-May 10Q Quarterly Report...
And I Quote a discussion of disclosure:
The so-called "quiet period " before earnings releases is not a requirement but a practice by companies to comply with Reg FD (Fair Disclosure) under the US securities laws. Reg FD prohibits selective disclosure of non-public information to favored analysts. During the "quiet period", companies have decided as a policy to not to discuss financial performance with analysts in one-to-one or small group meetings during a short period (usually 2-3 weeks) before earnings release.
If a company needs to disclose information, it can still do so by issuing a public press release, or schedule an conference call that's open to everyone with adequate advanced notice.
The goal of Reg FD is to prevent selective disclosure. If a company wants to disclose, it must disclose to everyone.
*** How can I provide guidance in compliance with FD?
The simplest model is to put your guidance or other information in a press release (presumably, in an earnings release after the end of a quarter). You can then discuss that guidance on the conference call or in one-on-one discussions with analysts, so long as you don’t get into material information that goes beyond the published guidance. Companies should aim to put more of the information in the release and provide less detail in the follow-up."
So where is the PR(s) communicating BONZ's progress to Investors?....
Call and email BONZ and ask where is the communication?...
Email: wendy@bonanzagoldfields.com
Phone: 928-251-4044
All IMHO of course.....
Correct - Mine Visit is Fri 4/26/13.....
All Investors are invited.....
Mike Stallings and Mike Stojsavljevich are both most likely going to be there.....
Gitreal... I would really like for you to visit as well... your training/knowledge will help scope out the operation... and perhaps satisfy your concerns....
I will prepare a report after the visit with my findings....
All IMHO of course....