Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Alex, it just goes to show that pump and dumps happen at all levels. This is why I prefer to buy value based on solid research. What passes for "DD" in most stocks is pathetic. You really have to do your homework to find the real value.
There goes the rally. Even though this thing jumped from $.01 to $.02, there was no way to actually trade it. Any significant money would have altered the price level.
I have been putting my money in real mining stocks, and they have been doing very well. RNO was a huge winner. BLE.to and QUA.to have also been doing great.
Looks like I called the bottom last Friday!
Posted by: OriginalFred
Date:4/27/2007 1:00:38 PM
Post #3332
The spike down on big volume could represent a bottom. Anyone have the guts to buy?
Classic post...Dilution machine...
Posted by: OriginalFred
Date: 12/4/2004 2:24:36 PM
This stock is a dilution machine scam in my opinion.
It is extremely unlikely that they will ever mine diamonds profitably, but even if they do, there would be so many shares at that point that the shares owned today would only share in a miniscule portion of the profit.
The share printing here has been astounding. In the last year, the share count has gone up something like 10 TIMES. That news about the diamond find SHOULD HAVE added significant value to the stock. It was OBVIOUS that the company sold millions of shares into that news.
Why do you think they remain on the pink sheets? It is so they can print huge quantities of shares without having to report it. Uninformed share holders are their best customers. Mining suckers’ pockets is much more profitable for insiders than mining diamonds.
Keep in mind that 90% of stocks on the OTC BB are scams, and about 98% of pink sheet stocks are scams. Your odds are TERRIBLE in the pennies. Professionals will not trade penny stocks because they know they are the sure way to the poor house.
Why do I bother to post this when I know I will be labeled a "basher" or a "naked short"? Because I have been reading this board for a while, and it obviously needs a dose of reality. I apologize for shattering the fantasy, but a dilution machine pink sheet stock is not going to make you rich!
Notice in their press release they do not even tell you how many shares they have. I have maintained all along that this is probably a dilution machine. There is no way to know for sure, however, because they do not report.
The pink sheets are for gamblers and suckers. I estimate 98% of pink sheet stocks are scams.
lhsmith, NI 43-101 is about much more than just language. It is about trust. In fact, it is the only reserve estimate technique that is trusted by the mining industry. NI 43-101 may not be perfect, but if a company is talking about a mine, they better have it.
Alex, you can learn a lot about how these pink sheet stocks operate by following a couple of them for a number of years. Most people buy a pink sheet stock, follow it while they own it, lose money, sell in disgust, and then never look at that stock again. Then they go on to buy the next one. That is NOT a good way to learn how they work. You have to stick around to learn the rules of the game.
Alex, Roca Mines has been a good one. I think they are a little over priced, however, for the earnings I expect.
Pink sheet stock are generally for suckers and gamblers. Why would you want to own stock in a company that does not even report to share holders? What are they hiding? I do not believe that BS about how it is too difficult to report to the SEC. Most small company SEC filings are copy and paste jobs that could be completed in a couple of days easy. Any company that cannot afford an accountant is probably not a good investment.
Update on value mining stocks
I recommended 10 mining stocks about 2 months ago. It is time to review how they have done.
Posted by: OriginalFred
Date:2/17/2007 12:23:48 PM
Post #2544
Value mining stocks
In case anyone is interested, I did a fair amount of research last month to find what I believe are the best value mining stocks. These are my favorites in order:
Symbol, Name, Metal, Price (as of 2/15/07), Market Cap, Notes
RNO, Rio Narcea, Nickel, 2.91, 520M
Should earn about $.19 in Q4, P/E of 4.
Up 58% to $4.61. Buy out in progress.
AUY, Yamana, Gold, 14.12, 5B
Large, growing, quality gold stock, forward P/E around 15.
Up 1% to $14.28.
GBN, Great Basin, Gold, 1.89, 220M
Future mines in Nevada and South Africa, discounted forward P/E estimated at 11.
Up 24% to $2.34.
GLE, Glencairn, Gold, .55, 150M
Growing, leveraged producer. P/E should be around 10 when mine problems are fixed.
Up 7% to $.59.
QADMF QUA.to, Quadra, Copper, 6.58, 300M
Q4 earnings should be spectacular, probably over $1 per share.
Up 79% to $11.76.
BLEFF BLE.to, Blue Pearl, Molybdenum, 6.94, 1.1B
Just bought out a large private producer, P/E around 5.
Up 131% to $16.04.
BWLRF BWR.to, Breakwater, Zinc, 1.58, 700M
Current P/E around 8, new mine in early 2008.
Up 23% to $1.95.
LMGGF LIM.to, LionOre, Nickel, 12.39, 2.5B
Growing producer, Q4 earnings should be excellent, P/E around 4.
Up 35% to $16.68. Buy out in progress.
CSFFF CS.to, Capstone, Copper, 1.50, 130M
Growing producer, forward P/E around 6.
Up 46% to $2.19.
SLMXF SXL.v, Slam, Zinc, .15, 14M
Tiny high risk explorer that seems to have a rich zinc property.
Up 13% to $.17.
Alex, stranger things have happened. I have seen a number of cases where a small stock bottoms on a spike down in big volume.
Then again, $.008 could just be a point on the way to $.0008. I cannot invest here anyway because all my money is tied up in Quadra Mining QUA.to QADMF.pk. Quadra's profits are huge thanks to the high price of copper. Their P/E is under 3. I think it will run a lot further.
The spike down on big volume could represent a bottom. Anyone have the guts to buy?
lhsmith, I must say that I think you are the most honest person on this board. You have been straightforward about your position on this stock, you treated my negative comments with respect, you did not approve of the censorship, and you expressed your dissatisfaction with Alex's pumping.
You are a good person, and I hate to see you get burned on a stock that may be a scam. I do not know if it is a scam, but the stock price is usually a good indicator. I seriously doubt anyone is intentionally manipulating the price down so that they can buy back at a lower price. It is pretty difficult to make that work.
It is possible that Alex is bashing the stock now just so he can buy more. It is also possible that he finished selling, so now he is free to say what he really thinks.
Alex might be right when he says this company is 2 people: one guy working out of his house and another in a boiler room. They do seem to have some kind of property in Venezuela, but is it worth anything? Who knows?
stock_seeker, it seemed that Alex's endless posting was perfectly acceptable when he was pumping the stock. Now that he has turned negative, you say, "If you don't have any interest in this stock please don't post on this board."
So now that you do not like his posts, it is back to censureship? You are a real piece of work.
To bad you cannot censure the stock price. It looks like the warnings I gave turned out to be valid. I told you this stock might be like UDVE, but you deleted the posts. There is nothing worse then a censure who deletes the wrong stuff.
Alex, alas, SGCR is an OTC BB stock. In my estimate, only 90% of OTC BB stocks are scams as compared to 98% of pink sheet stocks. The main difference is that OTC BB stocks actually REPORT to share holders. What a concept! Tell share holders what is happening with their money!
Unless you are really good at playing pump and dumps, the pink sheets are a quick way to the poor house. They are a money pit.
BTW, when I use the word "scam", I am lumping together all companies that will never be profitable. Some small companies have honest management that makes a real attempt to succeed, but they still fail. I consider those to be "scams" because the result for investors is the same.
Alex, you are full of surprises! Apology accepted. In fact, I must admit I enjoyed sparring with you. It was also good to prove that IHub is censored. I rarely use IHub anymore because censored boards are useless.
Some day I hope to meet a pink sheet stock that can be trusted. Until then, I will go on assuming that 98% of them are scams.
lhsmith, if it is any consolation, I would NOT SELL at the current price. I would either ride it to zero or wait for a comeback.
Do not let the company's lack of sophistication fool you. It does not take much competence to lie. I have seen it before. A fool can make up stories just as well as a slick salesman. Maybe the fool simply does not know better, but the result will be the same for anyone investing.
Maybe Alex does have a motive, and he might even be buying. He is not the type of message board poster that you tend to trust.
lhsmith, if it is any consolation, I would NOT SELL at the current price. I would either ride it to zero or wait for a comeback.
Do not let the company's lack of sophistication fool you. It does not take much competence to lie. I have seen it before. A fool can make up stories just as well as a slick salesman. Maybe the fool simply does not know better, but the result will be the same for anyone investing.
Maybe Alex does have a motive, and he might even be buying. He is not the type of message board poster that you tend to trust.
Alex, I have made a killing on RNO. I still think the buyout price should have been US$5 rather than CA$5. I will vote against because of the cheap offer by Lundin.
Alex, even though I think you post WAY too much, I will give you credit for admitting you were wrong. Most people NEVER come back to a message board to admit their mistakes. That does show some character.
lhsmith, I agree with you that the cease trading order does not seem to have any real impact on the stock. However, it does highlight the main problem with this company.
If they really have a rich reserve of 3 million ounces, why is the best partner they could find an unknown Canadian micro explorer?
The cease trade order questions the validity of the company's claims as does the disappointing deal.
But maybe Regent will prove up the 3 million ounces, and this stock will prove to be a huge bargain. I just think the odds are against it. There is too much here that does not add up. It is starting to remind me of NMCX. NMCX has claimed for years to have a huge and valuable reserve, but they never seem to be able to do anything with it. Pink sheet stocks often lie to investors. Sad but true.
lhsmith, this was the first I had heard about the cease trade order. Was it mentioned on this board before?
Since the stock is only traded in the U.S. on the pink sheets, I do not quite understand why it was issued. Is there a Canadian pink sheets?
Alex is a real piece of work. From pumper to basher in 6.8 seconds. He is a turbo charged annoyance.
This cease trade order is bad.
lhsmith, I am sorry to say it, but I think you have been taken. I do not think it will do any good to talk with the company because they have not been honest with shareholders. They did not notify share holders of the cease trade order. Also, they claimed they had "commenced discussions with a leading Canadian-based mining concern with significant mining holdings within the country of Venezuela" when in reality they got a lame deal with a company that no one had ever heard of.
This is not looking good at all. In fact, it is looking more and more like yet another pink sheet scam.
-------------------------
British Columbia Securities Commission
Tel: 604 899-6500 Fax: 604 899-6506 Toll Free: 1 800-373-6393 www.bcsc.bc.ca
P.O. Box 10142, Pacific Centre, 701 West Georgia Street, Vancouver, BC, Canada V7Y 1L2
2006 BCSECCOM 629
Cease Trade Order
Grand Pacaraima Gold Corp.
Section 164 of the Securities Act, R.S.B.C. 1996, c. 418
¶ 1 Grand Pacaraima Gold Corp. (Grand Pacaraima) was incorporated in 2005 under the
laws of Oregon and its head office and senior management are located in British
Columbia.
¶ 2 Shares of Grand Pacaraima are quoted on the Pink Sheets an over-the-counter market
in the United States. Between November 1, 2005 and October 27, 2006, about 3.77
million shares of Grand Pacaraima were traded on that market at prices ranging from
US$0.04 to US$0.23.
¶ 3 On March 23, 2006, Grand Pacaraima announced the completion of its merger with
Mindanao Gold Mining Corporation and its intention to focus its development
operations on four mining properties in Southern Venezuela.
Lack of Technical Report
¶ 4 In its November 3, 2005, March 23, 2006, and March 28, 2006 news releases, Grand
Pacaraima disclosed that its primary mining concession had estimated reserves of
US $580 million based on US $350 gold prices on selected samples of 80.86 grams
per ton or 2.6 troy ounces per ton. In its August 3, 2006 news release, Grand
Pacaraima disclosed recoverable gold reserves of 3.6 million ounces and indicated
gold reserves of 5 million ounces.
¶ 5 Grand Pacaraima has not filed an independent technical report in support of its
disclosure of mineral reserves. This contravenes s. 4.2(1) (j) and s. 5.3(1) (c) of
National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-
101).
Context of Scientific and Technical Disclosure
Non-compliant disclosure of Mineral Reserves
¶ 6 In the above noted news releases, Grand Pacaraima disclosed mineral reserves that
contravened s. 2.2 of NI 43-101. For example, Grand Pacaraima did not:
1. use the applicable mineral resource and mineral reserve categories, contrary to
s. 2.2(a),
2. report each category of mineral reserve separately, contrary to s. 2.2(b), and
3. disclose the tonnes and grade for each category when disclosing the contained
metal content, contrary to 5.2, 2(d).
¶ 7 Grand Pacaraima also disclosed the metal content of a deposit that was not
categorized using Canadian Institute of Mining, Metallurgy, and Petroleum
categories, which is prohibited under s. 2.3(1)(a) of NI 43-101. In particular, Grand
Pacaraima disclosed mineral reserves that:
1. were not categorized as proven and probable,
2. do not appear to be supported by at least a preliminary feasibility study, and
3. appear to be based on selected samples and therefore do not meet the
requirement to be based on detailed and reliable information gathered through
appropriate techniques.
¶ 8 Grand Pacaraima failed to provide information required under section 3.4 of NI 43-
101 for mineral reserves estimates. In particular, it failed to disclose:
1. the effective date of each estimate,
2. the quantity and grade of each category,
3. details of key assumptions, parameters and methods used, and
4. a general discussion of any known environmental, permitting, legal, sociopolitical,
or other relevant issues.
¶ 9 Grand Pacaraima did not include in all its written disclosure the name and
relationship to Grand Pacaraima of the qualified person who prepared or supervised
the preparation of the mineral reserves, contrary to s. 3.1 of NI 43-101.
Order
¶ 10 Under section 164(1) of the Act, the Executive Director orders that all trading in the
securities of Grand Pacaraima cease until:
1. it files the required technical report, completed in accordance with the Act and
the regulations, and
2. the Executive Director makes an order under section 171 of the Act revoking
this order.
¶ 11 November 7, 2006
John Porges
Manager, Corporate Finance
Corporate Finance
http://cto-iov.csa-acvm.ca/ArticleFile.asp?Instance=101&ID=0E70EDBF9CA94C279D299ED30FFBAB3A
zan, I do not think the company or the management exist anymore. This is probably just a dead pink sheet shell.
If the market cap is low enough, the penny stock pumpers might buy shares and run a pump, but there are probably 1000 other pink sheet junk stocks that could be chosen for the same purpose.
The stock symbol could also be sold as a shell, but existing share holders are usually diluted away when that happens.
I believe the most likely scenario is that the stock symbol fades into pink sheet oblivion.
Pink sheet shells are not worth very much. Most investors will not touch a non reporting pink sheet piece of sheet. The only way pink sheet stocks can get noticed is to tell really big lies.
If they had kept their SEC reporting up to date, an OTC BB shell could have been worth around $500k. A lot of Chinese companies are reverse merging through OTC BB shells.
That is typical of the management of this company. They love to burn share holder money.
No news or SEC filings for this scam in a long time. Maybe someone want it as a pink sheet shell. That is the only way this junk will ever be worth anything.
sorta, as usual, your approach is very logical.
"the other thing"
Ha, ha!
sorta, by the way, when I call this an "obvious pink sheet scam", I am in no way criticizing you for owning it. A stock like this is always capable of a huge rally, and I know you were fully aware of the risks going in.
I know you are an honest person, and you do not get personally attached to your stocks, but I still wanted to make sure you did not take that as a criticism.
On the other hand, my criticism of the goof balls who get wound up over a couple of OT posts stands.
sorta, I hope you do get a continued rally so you can make some money here. I just think the company itself is your worst enemy.
This thing was slammed down very hard after it hit $.003, and now it is only half that. A quick loss of 50% is pretty bad, and I have seen it with this stock before. Every time there is a rally, someone comes in with 100 million or so shares and crushes it. In my opinion it is the company or the insiders selling those shares.
Of course I cannot be proven right or wrong. The company does not report. I just think the evidence is in my favor.
Every rally is quickly met with massive selling. That signals stock printing.
trucks, there is no way you can be "sure" there is not printing. Show us the SEC report that proves that. This reminds me of your claim of a deal with Debeers. You should really stop making up stories.
CSFFF just made a terrible deal to sell their silver. The stock is still a value, so I have decided to hold, but it does make me question management.
Regent is a junk stock on the Vancouver exchange. Alex is interested because they have a deal with a pink sheet stock called Grand Pacaraima. If Grand Pacaraima actually has the gold they claim, the deal could be worth some money, but they would still need someone to actually mine the gold.
Do you have any proof that they are not printing shares? An SEC report would be nice. Oh yea! They do not file SEC reports!
You will hear something in about 2 years if you are lucky. Meanwhile, the company will print a few billion shares.
Please excuse my negativity, but the way the company caps every rally with massive share printing is disgraceful.
Hecla: You're Fired!
For the record, I suggested getting rid of Hecla back in mid 2005...
Posted by: OriginalFred
Date:4/18/2005 11:54:05 AM
Post #304
Hecla: You're Fired!
Hecla has been a disaster from the beginning. They were supposed to be an experienced mining company, but they took forever to get permits. I doubt all the blame falls on the BLM. When they finally did get the permits, there was delay after delay. They have obviously not held up their end of the contract, and now they are trying to get a judge to bail them out. Unless they come up with one heck of a bribe, they do not have a chance. All Hecla needed to do was dig a hole in the ground. This was not rocket science.
If Great Basin fires Hecla, they will be starting near square one, however, they will have permits, the start of a tunnel to their gold, and a much higher gold price than 2 years ago. I am sure they would have no trouble finding a new partner who would love to get their hands on that gold. When works begins with a new partner, this stock should easily return to what it is really worth. On this project alone, the share price should be $2 to $3. Add another $2 to $3 for Burnstone, and this is easily a $5 stock.
I am not buying any more yet, but the second they get rid of Hecla, I am definitely buying more shares.
Yes, this is good news. The thing that really worried me about the Hecla deal was that the mining profits would have all gone to cover Hecla's costs before Great Basin would have shared. Now Great Basin will see profits immediately. Great Basin can also move more quickly in developing the project. Hecla did not seem to care how long it took.
Maybe the Hecla deal was necessary at the time, but I am very happy that Hecla is gone. This is very good news.
The end of the Hecla fiasco.
So GBN is spending $60 million to buy back the $30 million that Hecla spent. Hecla caused Great Basing nothing but pain with this deal. The delays were terrible.
The question is, why the heck did Great Basin bring in Hecla in the first place? Hecla cost Great Basin $30 million and 3 years of delays. What a deal!
lhsmith, please feel free to post my list of favorite value mining stocks anywhere you like. I researched about 80 stocks to boil it down to that list of 10, so I hope they are good ones. Sometimes the market takes a while to recognize value, so there is no need to rush into buying any of them. There will always be pull backs!
Value mining stocks
Since RNO is #1 on my list, here is my list of what I believe are the best value mining stocks. These are my favorites in order:
Symbol, Name, Metal, Price (as of 2/15/07), Market Cap, Notes
RNO, Rio Narcea, Nickel, 2.91, 520M
Should earn about $.19 in Q4, P/E of 4.
AUY, Yamana, Gold, 14.12, 5B
Large, growing, quality gold stock, forward P/E around 15.
GBN, Great Basin, Gold, 1.89, 220M
Future mines in Nevada and South Africa, discounted forward P/E estimated at 11.
GLE, Glencairn, Gold, .55, 150M
Growing, leveraged producer. P/E should be around 10 when mine problems are fixed.
QADMF QUA.to, Quadra, Copper, 6.58, 300M
Q4 earnings should be spectacular, probably over $1 per share.
BLEFF BLE.to, Blue Pearl, Molybdenum, 6.94, 1.1B
Just bought out a large private producer, P/E around 5.
BWLRF BWR.to, Breakwater, Zinc, 1.58, 700M
Current P/E around 8, new mine in early 2008.
LMGGF LIM.to, LionOre, Nickel, 12.39, 2.5B
Growing producer, Q4 earnings should be excellent, P/E around 4.
CSFFF CS.to, Capstone, Copper, 1.50, 130M
Growing producer, forward P/E around 6.
SLMXF SXL.v, Slam, Zinc, .15, 14M
Tiny high risk explorer that seems to have a rich zinc property.
Note: P/E estimates depend on metals prices.
No guarantees that they will actually go up. The market is fickle and will sometimes ignore good earnings.
Here are some real mining stocks.
Why invest in a pink sheet scam when there are mining stocks with real value available?
These are my favorites in order:
Symbol, Name, Metal, Price (as of 2/15/07), Market Cap, Notes
RNO, Rio Narcea, Nickel, 2.91, 520M
Should earn about $.19 in Q4, P/E of 4.
AUY, Yamana, Gold, 14.12, 5B
Large, growing, quality gold stock, forward P/E around 15.
GBN, Great Basin, Gold, 1.89, 220M
Future mines in Nevada and South Africa, discounted forward P/E estimated at 11.
GLE, Glencairn, Gold, .55, 150M
Growing, leveraged producer. P/E should be around 10 when mine problems are fixed.
QADMF QUA.to, Quadra, Copper, 6.58, 300M
Q4 earnings should be spectacular, probably over $1 per share.
BLEFF BLE.to, Blue Pearl, Molybdenum, 6.94, 1.1B
Just bought out a large private producer, P/E around 5.
BWLRF BWR.to, Breakwater, Zinc, 1.58, 700M
Current P/E around 8, new mine in early 2008.
LMGGF LIM.to, LionOre, Nickel, 12.39, 2.5B
Growing producer, Q4 earnings should be excellent, P/E around 4.
CSFFF CS.to, Capstone, Copper, 1.50, 130M
Growing producer, forward P/E around 6.
SLMXF SXL.v, Slam, Zinc, .15, 14M
Tiny high risk explorer that seems to have a rich zinc property.
Note: P/E estimates depend on metals prices.
No guarantees that they will actually go up. The market is fickle and will sometimes ignore good earnings.