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Latest News on Santa Fe Gold's website is almost 3-years old, there have been no updates, and so many clowns here insist it is a money maker. From failed leadership, a CEO that was a thief, to dozens of failed loans taken out. Where are all the "I told you so people"?
Almost 12 months now of nothing? Where are all the "but wait, they said something good" people?
Just checking in with all those dream holders. It has been 8 months. Those Financials have to be so solid that companies are beating down the door to relist this company.
5 Months...what's the news? Got it, no one willing to put their business on the line for this clown town show. The first question ANY company would ask is: what was the revenue on the ore shipment made in December 2020 and not reported on any of the public financial records?
What do I have against SFEG, are you kidding me? Have you ever done an ounce of research on it?
1. They brought a CEO in that lied about the company, stole assets, and the CFO as stupid as he is ignored it instead of reporting it.
2. During the CEO's tenure, the CFO cooked the books to hide that the CEO was stealing from the shareholders and company.
3. They defaulted on almost every deal they have ever made and sued on most accounts.
4. They never paid money to acquire anything. The simply created more stock diluting the value of the shareholders.
5. The only time this company drove any revenue was December 2020. They publicly stated that the ore would be processed and check for the gold delivered in 30 days. Well, none of that revenue was ever reported. This is fraud and criminal. They either stole the money from that processing or the ore had nothing in it and generated $0 revenue.
Do you want me to go on?
6. The new head of this company invests into it because he needs tax writeoffs for his real investments. The guy could care less about this company.
7. The financial reports provided to the SEC clearly state that they have no path to have any capital funds to attempt to begin mining. It will require massive capital investment or increase the number of shares again. Either case will dilute the price of current shareholders where it would put the company at an inability to even operate. That is in the forms they just sent to the SEC.
8. They still need to find a company that would back them in order to be able to re-list. I guarantee that there are no companies with an inkling of respect that would back this company without thorough investigation into the past 5-years of financial reports. We already know they were all cooked. Then they have some 80-yo guy replace the CFO because he can never be an executive at a company again. The 80-yo doesn't give a shit about scamming people because nothing would ever happen to him. He's too old. Plus, they really didn't want anyone that could really see what is being done.
9. The amount of gold they claim they have per ton is extremely profitable, but yet they can't get anyone to even attempt to help mine it.
10. They claim they have a processing plant for the mines, but it is about 10 miles from where they will mine. Do have any clue the cost to transport material that far to process? It is all smoke and mirrors.
If, and I mean if, you have any FACTUAL information on SFEG's ability to mine, please share. I am not talking about emotions, speculation, or any other drivel. Share provable facts and we can have an educated discussion. And until you get an answer to #5 on a publicly traded company, nothing you can or will say is factual. So don't be a frigging idiot mouthing off the stupid garbage SFEG says. Oh, one more thing, you do realize that they have signed over an extremely large portion (more than half) to that idiot geologist in Texas? That company owns about half of all revenue if it is ever generated. Another massive perpetuity for the "acquisition" of the mines that have so much gold. The shareholders outside of about 5 people own only about 3% of the company. So guess where you are on the pecking order of making any money. If, and that is a big if, they ever do make a little money, many of those past creditors will be coming with lawsuits. Also, the landowners that the mines were acquired have some funny language in them that they can enact to retake the mines due to lack of payment.
Nothing ceases to amaze me. People still buy this drivel that they sell you. First, they have to get approved by the SEC. That is the easiest of issues. Next, they state they have no money to operate and no method to generate money to operate. They state that if they do get to the OTC market, the value of the shares will be immediately diluted from where it was delisted. Then, further dilution is required because because they will have to triple the number of shares. Not too many taker willing to buy 10M shares for $100k. There are no wealthy people out there that need big tax write-offs this year.
There are enough scams out there, but this one is the top of them all. You bought hook, line, and sinker. Now it is a shit-sandwich, you have taken a massive bite of it, and now you are in line asking for seconds and thirds. That is hilarious.
You do realize that IF they comeback they can do so with no obligation to past shares. They can dissolve them to nothing and offer completely new shares, not replacement. This company has ZERO obligation to the people holding toilet paper that says SFEG on it. I know 99.9999% of the people that lost their money don't have physical shares, so they don't even get toilet paper out of it. And if you don't think there is an issue, then you are crazy. There is an 80yo CFO that could care less. The person heading it is using this for tax writeoffs and nothing more. The only "leader" was the one that cooked the books and can no longer be an exec of a publicly traded company. So, if there is one ounce of leadership here, please state the name of that person.
You lemmings and liars never cease to amaze me. Even if they were doing anything, they have 0 (ZERO) obligation to past shareholders. They can wipe those shares away and be done with you. Second, this company is doing nothing other than being a tax write off for the other idiot that put a pittance into it. You do realize nothing has come from this company in 18 months. Before that it was 4 years. That is 5.5 years of nothing. If you don't think they are crooks, why would they not post the value of the only revenue they had in 6 years? A company that has had not less than 10 active lawsuits against them for failed financing of "acquisitions". Then a CEO that was a thief and they tried to hide it under the carpets because the next coattail rider was too stupid to even know he was an accomplice in a crime.
Yeah and I remember you saying it would be out the middle of April. Now its almost the middle of May and nothing. This is hilarious.
3-weeks have come and gone. This is so laughable.
Any news
Its been a year and what has happened? The same as the last 4 years...NOTHING!!!
It's not news unless they are listing. All this is lip service to keep those that lost everything drooling.
Relisting date?
Any news?
Another month another nothing. This goes all the way back to December 2019. Still waiting for those revenue numbers.
Whether to merge. Since more than 50% is owned by the Big Wigs, our little votes won't count anyway. This merger is going through. The question now is what will the growth look like. I am more of a realist so here is my take.
$30-$40 at merger vote
$40-$50 over the coming 2Q/3Q
$70 by EOY
Dreamer says: $200 by end of 2022.
Still laughing at the SFEG schleps that bought my shares I dumped. I feel as good about them as I do the schleps I dumped LBCC on at $9/share. Took that free money they lost and made tons in CCL, RCL, NCLH. Took those gains and wish I got in on the GME hype. At least I am killing it in CCIV and other SPACs.
I have no sympathy for you lemmings. Anyone that believes the BS spouted from Frank Mueller deserves to lose their arse.
Haven't been here in about 2 months. I am up about 30% on BFT. I have to admit I liked it better at $19, but I am not in this for a short-term investment. I am here for the long haul. My FA says this is a life changing investment opportunity. We bought 4,000 shares at a $12.50 average (I think from memory). Their belief is this can skyrocket once public. The rumors are they will be doing acquisitions with the SPAC money and fund high growth projects like legalized online gaming with Vegas. Foley's name has weight there. The other thing is if this becomes great competition for things like SQ or PYPL, they make be forced to acquire Paysafe. We will all be rich then.
Feel free to enjoy losing all you had invested. It is funny how people cling to diarrhea and hope it is a diamond.
I thought I was off their mailing list and even requested it. I received the same thing. Any company with an ounce of integrity would have proofread their own email for accuracy. If anyone had any sort of respect for a publicly traded company, they would have at least proofread this garbage before sending it out.
"We intent to file the Form 10 to re-register our common stock under the Exchange Act."
Everyone should be proud to have their money invested with this company. They care so much for their shareholders that they surrendered to being revoked. They were so caring that they would relist when they could get a company to back them. You would think that at such a high priority for the shareholders they would have completed this by now by leveraging Gorsky and his company. Instead you are left looking at your $0 account and trying to defend that they will come back.
Where are all the Pumpers? I thought I would have seen at least 100 posts on how positive the PR was about being revoked. All they had to do is agree to be revoked and magically find an auditor that would back them to go public again.
Why are they not clamoring for the new trade release PR.
Don't use facts and truths. These people like lies, hyperbole, and lack of information...unicorns and rainbows is all the care about. They will have a better chance of finding Lucky's pot of gold in a Lucky Charms box than SFEG ever reappearing. Plus, if they do, they have no obligation to anyone holding shares of a defunct company. They can say what they want in any PR, but when they go public again, it can easily be a new company requiring new investment.
Just take your loss, let it be a lesson, and be done with it.
Do you think there will be an legitimate sponsor to back this company?
They have failed once, came out of bankruptcy, and put the company in the hands of 2 criminals. Maybe a mob boss would back them, but no legitimate company would want to touch them with a 10'pole.
Wow, I just read a few posts on SFEG. These naïve shareholders think that SFEG will restructure, open as a new public company, and they will be given free shares equivalent to the old SFEG shares.
As of right now, SFEG is technically a private company. They have NO obligation to shareholders at all. They have far more debtors that will wipe out any potential assets. If they choose to restructure as a new company, there is no financial incentive and no requirement to give free shares to people that owned part of the defunct company. People still cannot believe they were scammed and think they will get a $ for $ exchange to a new public company. They can't understand that there is a difference between bankruptcy and being revoked.
@HopeHat, Want to repeat that statement from the other day?
If this hits $47, I sell, wait for the dip, and buy again. I will take a nearly 400% gain. I am in at an average of 4,000 @ $12.50.
They will be as horrible or worse than expected. I am not bashing CCL or any others. The fact is more delays beyond February are coming. People are not going to want to get on a ship with 6,000 people with the threat of "we have to return to home port and you will be locked in your cabin until we are there." People are not going to go for it. It is going to take mandatory vaccinations to board and availability of vaccines in order for cruising to just start with restrictions. Then, it is going to take 2-3 years to rebuild, and 4-5 years to clear out the additional $10B in debt.
You do realize that SFEG has had no cash in hand for many quarters now. They have had loan payments of over $250k per month they have not paid. The owners of the land and loan agreements will retake the land. The reason they are carefully wording what they make public is to keep the Lemmings in line. SFEG is done and will be revoked in the next 3-6 months. That is a fact. The people that are "running" SFEG is putting assets in writing to transfer ownership when they are revoked. This way you shareholders have nothing to go after even though you are dead last on the collection list.
SFEG is done. They have nothing and are nothing. If they did have something, all they need to do is show revenue and expenses. There is no revenue and expenses are greater than $250k per month. Even Adair is not throwing more money at this. In his PR's he stated he would buy shares at $0.08. Yeah, he ain't doing that either not when there no way to purchase them. He is writing all of SFEG off in 2020 taxes and pocketing PPP loans.
Yes, the PR clearly states that SFEG is done and the properties will transfer to TMRC once revoked. That was a great press release detailing the corruption in the BoD of SFEG. Dan Gorski signed into an agreement to have 50.5% given to his company TMRC.
The latest PR proves the corruption even in the Board. SFEG just signed a letter of agreement giving TMRC (Daniel Gorski's company) 50.5% majority share of almost all of SFEG's properties. This solidifies they know they will be revoked and gave ownership to TMRC when they go under. I don't know how someone on a BoD for a public company can recommend giving majority ownership to his own company. Get the KY ready shareholders, they are going elbow deep now with your money.
Your shares are now worth nothing. No where in the letter there is an agreement for the shareholders. You are basically being used.
Watch? Maybe. Invest money? I could give you 100M better ways and places to put it. Investing in Enron would be better than this stock.
Mining Permit Number?
Just curious how a mining company can operate without one. MSHA is probably more stringent than OSHA. As a mining company, SFEG should have one, but they don't.
@lucky.mydog You are 100% correct. The swindled investors in this company thing this is a huge positive. A 77-year old CFO from a company that lost 99% of its value over the last 9 years. That gives me a ton of confidence.
I would call that news. I would call that withholding information. If he has been the CFO since July, that should have been announced with an SEC filing. Interesting how this all took place a week after being suspended, knowing Mueller was screwed, and never announcing it. Then, he is a 70 year old that never did anything for the other company he worked for.
This is pretty sad for the direction of a company trying to not be revoked. I think this guarantees being revoked now.
Laughing even more now. With Frank Mueller removed, there is no one at SFEG. This just solidifies the end of SFEG and being revoked on the exchange is probably escalating faster.
Adair: Chairman, but just a money bank who will write the losses off on taxes.
Gorski: Technical Advisor of nothing. He runs his own company and has no involvement other than a title and collecting a check.
Mueller: No longer CFO and cannot be part be in charge of any penny stock out there. He has a private LLC which will probably acquire whatever limited assets SFEG "owned".
Get out now while there are some lemmings that still exist out there.
Funny stepping in here with nothing happening. It is still like lemmings to the slaughter house. Still unable to comprehend how they got played or unwilling to admit it. The only question you have to ask yourself is how much money was made off the 1500 tons shipped to the processor in December? 9 months after the only possible revenue with no information tells you a lot about the company. Whatever the amount, they bilked it as "payroll" or "bonuses".
For those that think this won't be revoked, you are uneducated. Only 7 out of over 3,000 companies survived suspension over the last decade. When I briefly looked at their filings, there is a very important piece of information in there. It is some legalize, but it appeared to me that the mines are in Mueller's private LLC and not in SFEG. When SFEG fails, the mine purchases are still in Mueller's private LLC ownership. That is a clear message that they have bilked the shareholders. It is then a ponzi scheme. They are pump and dumping shares and will do so until revoked.
If this was legitimate, why would there ever be ANY mention of Mueller's private LLC with ownership of the mines in the SFEG filings?
Only 7 out of 3300 companies in the last decade or so have not been revoked. Do you really think a company that is run so horribly as SFEG will have everything necessary for the SEC to say "yes, things were so bad for you that it took over 2 years to get your financials done. Here is the golden key to start trading again as a respectable company that the public can trust!"
That is not happening. As you can see on the grey markets there are no trades. SFEG will be over in the coming weeks and the shares you hold will be worth $0. Now, that does not mean that the assets are going away. SFEG may be ever so kind to open as a new company and give shareholders equal shares in the new company. Good luck on that. This could have been their play all along. Delay everything, let the SEC end the company, and then open as new with no shareholders. Buried in the Financials, a lot of the land/mining rights are held by Mueller's private company.
In the end, it is very simple. Count the number of your shares multiply it by $0.00 and that is the value of the stock you now hold.