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Great news today and the stock drops more than 13%, I'm sick of this sell on the news BS.
Now just how much more do I have to show you? Enough BS. The NI 43-101 is an internationally recognized standard,
browndawg
On May 10, 2014, CIM Council approved the CIM Standing Committee on Mineral Reserve and Mineral Resource Definitions' request for an update of CIM Definition Standards for Mineral Resources and Mineral Reserves.
The new version includes changes to maintain compatibility with National Instrument 43-101 (NI 43-101), and addresses industry, CSA, CRIRSCO and UN requests for clarification and guidance.
The Canadian Securities Administrators (CSA) have always referenced the definitions and categories of Mineral Resources and Mineral Reserves used in NI 43-101 to CIM Definition Standards for Mineral Resources and Mineral Reserves. In 2011, NI 43-101 also referenced Mining Study definitions for Pre-Feasibility Study and Feasibility Study to the CIM Definition Standards.
PDF – CIM Definition Standards for Mineral Resources & Mineral Reserves 2014
Background
In the mid-1990s, a number of incidents related to the securities of mineral exploration and mining companies shook public confidence in the mining industry and negatively impacted the industry's capacity to raise capital.
In response, the Ontario Securities Commission and the Toronto Stock Exchange jointly formed the Mining Standards Task Force (MSTF) in 1997.
Two years later its final report, Setting New Standards, contained 66 recommendations focused on improving the standards of practice governing operating activities and the need for good public disclosure.
In response to the MSTF report, CIM developed the CIM Definition Standards on Mineral Resources and Mineral Reserves, which were adopted by CIM Council in 2000, and amended in 2005. The CIM Definition Standards for Mineral Resources and Mineral Reserves were amended in 2005, 2010 and 2014.
If you want to play the game here goes:
A number of countries have developed their own reporting standards and definitions.
In 2006, the Committee for Mineral Reserves International Reporting Standards (CRIRSCO) published the first version of its International Reporting Template for Exploration Results, Mineral Resources and Mineral Reserves modelled on the standards that existed in all its member countries.
The Template was a major milestone towards achieving uniformity of international reporting standards.
It was this last time, like it or not. but again, Opinions are .........
browndawg
You are probably right. I'll bet he's not the first to believe he could become profitable before he got too far into the convertibles. jmho
browndawg
Here's to hoping you're right. I don't know if he's going to find other financing now. It would be nice to pay off the vultures somehow other than with millions of shares.
browndawg
Leopold tried to put us in a position to be able to re-open the mine and to be able to draw on the 10 million we already had available, but the shareholders panicking and selling out at any price, plus the VC's unloading millions of shares kept driving the pps down so much and so fast that it didn't allow the price to stay high enough long enough to be able to draw on the available funds. So go ahead and claim scam all you want. Perry tried to do what he could, it was some of us plus the VC vultures that once again cut our throats and stopped us from any chance of trying to recover. jmho
browndawg
Seems Hillary's talk of limiting profits on Drug Manufacturer's is hurting the entire index of Bio Stocks. I wish politicians would just keep their mouths shut about the markets. They have no problem going to the big money people with their hands out asking for money. Then turn around and blast them for earning any money in the first place. Hypocrites all. jmho
browndawg
Seems Hillary's talk of limiting profits on Drug Manufacturer's is hurting the entire index of Bio Stocks. I wish politicians would just keep their mouths shut about the markets. They have no problem going to the big money people with their hands out asking for money. Then turn around and blast them for earning any money in the first place. Hypocrites all. jmho
browndawg
I agree Bruce. The very idea that Perry did all of this just to make the lenders rich is outrageous, and just plain dumb. He got himself in trouble with borrowing from the wrong people, believing he could produce enough gold quick enough to pay them off and be done with them.
As for his hiring abilities in getting the right people to run the mine, he wasn't a very good judge of character or management.His lead geologist and mining Supervisor were total busts, he had too much faith in them and got burned like the rest of us. jmho
browndawg
Confidential Treatment Order - CTO
AAA |
DEFINITION OF 'CONFIDENTIAL TREATMENT ORDER - CTO'
An order that provides confidential treatment for certain documents and information, that a company would otherwise have to file. A confidential treatment order (CTO) is issued by the Securities and Exchange Commission (SEC) and may only be in effect for a certain period of time, rather than indefinitely.
BREAKING DOWN 'CONFIDENTIAL TREATMENT ORDER - CTO'
Companies would typically seek a CTO in order to keep information that would otherwise put it at a disadvantage, a secret. For example, a company may apply for such an order to keep information regarding a pricing arrangement made with a partner, secret, since competitors finding out this information may go after the partner with a more competitive
Read more: Confidential Treatment Order (CTO) Definition | Investopedia http://www.investopedia.com/terms/c/confidential-treatment-order.asp#ixzz3muwpARDW
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What the heck is happening here? Does anyone know what a Confidential Treatment Order is? TIA
browndawg
No RS for me thank you very much. I have been through dozens of them and have never had one end up helping the stock in the long run. All it has ever done is cut the number of share I have had and then watched the share price go right back down to where it was trading before. jmho
browndawg
VUZI is the only stock I am holding that hasn't crashed more in the past 2 days in fact it's up from yesterday (the only one) while every other of my stocks are down. VUZI is back about $4 , none of my other stocks have regained any of their losses and continue to drop after the initial losses from last week. jmho
browndawg
Looks like NVAX and all bio techs are getting hit today just like the rest of the markets. No big deal the way I see it. Unless all the markets continue to sell off we are fine. jmho
browndawg
I know this post was from a few days ago, but it truly sums up the entire problem with Sarissa from the beginning. When Dan took over as President I thought things would change as far as the communication since he had been on the opposite side for so long. Now we are back to no communication and as said, the pps reflects the sentiment of shareholders and the public.
If we knew why the progress of Dan's plan was halted, and the plan was going forward and the estimated time frame to resume the goals of the plan things could turn around and the pps reflect that too. But true to form for this stock, silence is the rule, and the stock price just keeps getting hammered with no hope of improvement with managements seemingly lack of concern. jmho
browndawg
Scammed, or wishful thinking that we could reach the gold before the financing became so bad, as it did??
browndawg
I don't now about anyone else, but just about all my NASDAQ stocks were in the red yesterday, many of them losing substantially. I have no explanation as to why. A couple even had decent 8K's and still dropped in excess of 10%.
browndawg
I think Perry got swindled by the former Mine Boss, or whatever his position was anyway, the lead minor, who told Perry in the first place about what good shape the mine was to begin with after the work had been done by the previous company. Perry, not being a miner took his word for the mine being in better physical condition than what it turned out to be. And, with all the talk about the huge nuggets C.L Best had been getting and then had to leave behind when WWII started and could be mined when we reached the black channel, the guy disappeared by the time we got there only to see the other company had already mined out that area.
Sure Perry got taken as an inexperienced person involved in mining. And all the construction cost us $ millions and lots of time not planned for. That doesn't make him a crook, I do blame the previous mining manager. I also blame Gary, who wanted to explore, explore explore, rather than find a reasonable area and try to see if it was viable to work on rather than just keep testing and never getting to the point of producing anything in 2 years. that was what brought about the need for the toxic financing which ultimately caused the closing of the mine before it could become a producer when it looked like it had finally found a decent deposit.
jmho
browndawg
Sorry Orefinder, I just noticed you gave me credit for it. lol
browndawg
Hey Orefinder, you stole my line. lol
browndawg
I've heard of "sell on the news" before, but today's trading is ridiculous. Over the past 2 weeks this stock has cratered. I already have one other stock acting this way, like the sky is falling, the sky is falling.
browndawg
What in the hell happened today? Why was the stock halted, any ideas?
browndawg
Sorry my comments were meant for goodfree.
brpwmdawg
I hate to say that I agree, but I do. $10K is not going to do anything towards getting any production done. I don't understand what good it's going to do unless there's more money coming from somewhere. Otherwise with more conversions due at the first of the month the O/s is just going to continue to keep getting larger and larger and I don't know what the $10K is going to do about that. jmho
P.S. Maybe someone is going to stand underneath the area that caved in and pan for gold that fell from the roof above.
browndawg
If Perry does miraculously does happen to obtain the private placement for $10 mm and pays off the VC's and begins mining what will you say then Malc? If he then reduces the A/S by 7 Billion shares too, what will you say then Malc? If the Ruby starts producing a decent amount of gold at a profit, what will you say then Malc? I know that's a whole lot of if's, but IF the private placement does take place, all of that could take place in short order. Then you really wouldn't have anything to talk about. jmho
browndawg
Looks like a very nice addition to the board. jmho
browndawg
You are wrong on the amount of refurbished mine in the Ruby. I don't know the exact amount, others here may have the figures but it's closer to 1/1/2 or 2 miles if I remember correctly. The Fraser property report has been completed it just has to be paid for and I do expect it to be approved with changes suggested. The Canadian government is tired of all the BS from the environmentalists too. We can't help what the cut throat financiers do between now and IF Perry is able to obtain the private placement, but if he does we can get rid of them once and for all. The bloodsuckers have been paid many times what their loans were and have caused this demise already.
jmho
browndawg
Sorry Malc, but you don't have a clue whether they are worthless or not. they haven't been mined yet. jmho
browndawg
Perry Leonard had not acted that way in the past and I don't think he is doing it now. I could be totally wrong and it will cost me even more in the long run as I bought more on Friday. But I will take my chances, it's my money and my decision alone. jmho
browndawg
If Perry has been successful at arraigning a legitimate investor willing to fund NBRI with a $10 million private placement, then you Malc and several others here need certainly to send a great big apology to Perry Leonard. If on the other hand it turns out to be the scam you say it is, you have every right to say I told you so as often as you please. I hope you are wrong and that you and the others have to not only apologize to Perry, but to everyone on this board that has had to hear the words Scam, ruse, etc.
It is not too hard to believe that someone would be willing to invest $10 million in a completely refurbished gold mine, and 150 other mining properties, two of which have JV's readily in place awaiting the go ahead from Government approvals. There is a lot of gold at Fraser River we know, if we can get the report finalized there and get the Canadian government off it's ass and authorize a new entry road that property is ready to go and will cost us nothing for production. Other properties are good for JV's also.
We will know soon enough about the private placement. I truly hope you and the others are wrong and that the deal can be finalized prior to another debt conversion having to be done. jmho
browndawg
If Perry has arranged financing from a private investor at a reasonable rate and is able to pay off these parasites that have drug this company down, it will be a great deal for what's left of investors. It will also be a relief and maybe shut up those constant bashers who have called him a crook and scam artist for the past year or more. I truly hope Perry has been able to find a real investor that will allow the Ruby to go into production and the other properties to get off the hook from the previous loans too. Here's to crossing my fingers. GLTA (except those of you who have been such negative influences here)
browndawg
What happened to all the talk by Dan that the funds for any additional drilling and steps necessary to take us to feasibility were already available? Was that counting on the funds from the pension fund? I haven't been paying attention to the boards in a while and this may have been answered in the past, I'm sorry if I'm dredging up old stuff, I just don't have time to go back thousands of posts to try and find the answer. TIA
browndawg
Hello to the board. I am a new investor to this stock and I am just catching up on the board posts. I just checked Scottrade and saw that there is a 8.52% short position on this stock as of today if that helps anyone.
I haven't paid attention to this stock in years. It's one I put in the drawer years ago after a R/s and name change. I can't even remember the original stock I purchased. What's going on now and is it still just another scam, rinse and repeat deal again? Thanks for your opinions,
Browndawg
I believe the investment by the retirement fund was made for shares long ago and not part of this new money for the feasibility study. I will in the words of another poster here "man up" and ask Dan if it's the case of the investors holding up additional funds pending the court outcome. jmho
browndawg
Thank you Forzano
Does anyone know if the funds dried up from Dan's friends when this court mess started and maybe SRSR doesn't have the funding they had planned when Dan was originally going balls to the wall towards the feasibility? They might be waiting to see how things turn out before putting up anymore money. JMHO
browndawg
Anybody have a good email adddress for Dr Seymour?