Roberto and Bikeguys accumulated notes, I am adding to your notes, my additions are in color.
Question: What about the increase in A/S shares to 2 Billion?
Answer: I am not an officer of the company and have no information about that. I am a consultant working on the Carbon Credits Projects and procuring equipment for the mining operations. You will have to contact Doug regarding share structure and anything regarding the internal operations of the company.
Question: Can you give us an update on the Carbon Credits Projects?
Answer: They are ongoing and being shopped. Several interested parties. We think that we have a Japanese investor ready to make a deal soon. Have 4-5 others interested (Chinese, Swiss, Australian, Ireland). Grant Galloway at Green Giant is working on the deal. Besides the CC projects, Carbon Credits can be sold also.
Question: Do you have a time line you can share with us?
Answer: No. Could be tomorrow or in a couple of months. But it looks promising.
Question: How is this setup? Who are our partners and what is the split?
Answer: Green Giant is our partner. The split will be about 50/50.
Question: So, when we talk about 8 figures. Is that after the sharing the revenue and after the costs to plant and maintain the kiri trees.
Answer: Yes. The amount depends on how many years we sell it forward. It can be from 7 to 50 years. But 8 figures is what we are looking at minimum to invest in mining operations.
Question: So are you saying that the company will have 8 figures to buy mining equipment in SL?
Answer: Yes. That is what we are saying.
Question: How is the world Bank involved? Are they a potential investor?
Answer: The World Bank is very political. Slow moving. They are looking at investing in the infrastructure, medical situation, etc in SL. We are not sure what their interest is in Carbon Credits, but will stay in touch with them.
Question: Are the kiri trees available? Where do they come from?
Answer: Yes. We get them from Australia. They are small starters. We plan to plant 4 acres before we have a project sold. We will plant 250 trees per acre. We will thin them out after a year or so, and replant the ones culled out. We will start harvesting timber in 4 years. They are going to start planting 4 acres, a CC forward sale can/could happen before and/or after this, but the planting will begin. This is primarily so that our agriculturalist, Samuel Kargbo, can get a good idea of all the land preparation required and train his laborers when the planting of larger acreage occurs.
Question: How is the sale of CC projects split in the way of revenue?
Answer: 30-40% of revenue will go to plants and equipment. We will still have enough cash to buy all of the mining equipment we need. The 8 figure income from the forward sale is after the farming equipment/land preparation/sapling/labor costs. Then SGCP and Green Giant split the $$’s 50/50. The 8 figures, 50% that SGCP receives is after all the costs and ½ split with GG.
Question: Tony Blair has become a big booster of Sierra Leone. Should investors write him and tell him about SGCP and what is going on?
Answer: Yes, if you would do that, it might help us and the country in general. A side note: Warren Buffet has announced that he expects the make millions, if not billions in carbon credits markets. Sierra Leone needs to find a way to get exposure. I mentioned this. There are many of us who complain about not getting enough market exposure. I propose that us investors write our own statement that we can use to help the company gain more exposure. I am not suggesting that we try and sell the stock or CC program to Blair or Buffet, but rather, we use it to inform the people/entities we send it to, that positive things are happening in Sierra Leone and our little SGCP is one company that is actively involved in positive change. Anyone that is interested in collaborating on a detailed evaluation/essay on SGCP let me know and I will send you a PM with my personal email.
Question: How many dredges do we have in SL? Are we getting more?
Answer: There are 2 dredges in country now-1 wet, 1 dry. We are purchasing 2 more within 2 weeks and they should arrive at site in March/April. So we will have 4 dredges working within 3-4 months. The exact timeline is unknown, but we are expecting to have two more dredges in country and operating sometime this mining season. One dredge is shipping from the East coast USA in approximately 2 weeks, and the other is shipping from the West coast in approximately 2 weeks. When the dredges have arrived in SL, gone through customs, and are onsight, we will get a PR about it. Doug is in Sierra Leone until Feb 13th. Ron our #1 dredge man is leaving for SL in 2 weeks and will be training new dredge operators so when the new dredges arrive we will have trained operators. On Doug’s current trip he is personally viewing a fifth dredge that is in SL and if purchased will be three dredges operating in country, so we could have five dredges working in country by the end of the season.
Question: Where is the experienced operator discussed in the FR’s?
Answer: We have one in SL and will have another in 2 weeks. They will be training the locals We have a mining engineer in country to determine the best approach to each site.
Question: How are diamonds sold?
Answer: They are sold through the SL government. They are appraised and taxed. Anything under 3 carats (clear diamonds) are not worth a lot ($200/carat). The colored diamonds in Zimmi (yellow and pink) are worth a lot and that is what SGCP is looking for.
Question: How is gold collected and how do we ensure that there is no skimming by the workers? Who watches for this?
Answer: The locals know that we are feeding and paying the workers. They are watched closely by the tribal officials and any theft would result in very harsh treatment. They know that if they get caught, they would suffer great consequences. The tribes/labor force we work with is like running a family business, if the business is doing well the entire family prospers. Why would I steal from myself?
Question: When can we expect revenues from agriculture?
Answer: Next year. We have been using the crops to re-plant new acreage. We have rice, peanuts, sorghum, etc. and are looking at several other crops. We have 2000 acres for crops (will double that next year) and 112,000 acres for CC’s and lots of concessions for mining. We want the locals to become entrepreurial and start selling these crops (canning plants, lumber mills, etc) and will sell the crops in their raw stage. this should be corrected, 2000 acres is just for rice, are other acreage for crops cassava, sorghum, peanuts, European Veggies total about the same acreage
as the rice. They way I understood it is that we have 2000 acres of rice and 2000 acres for the other crops combined. John also stated that we have immediate access to 10,000 acres for farming, not including the CC project lands. As far as he knew we will be doubling our rice next season and will be generating profit at that point from farming. Currently all of our farming is self sustaining.
Question: Do we feed the workers?
Answer: Yes. We give them rice, medicine, jobs, pay, and they supplement this by fishing.
Question: How did this start?
Answer: Doug went to SL right after the war. He started the agriculture phase and built roads, started mining, and provided much needed jobs. He is committed to making life better there. This will pay off down the road. Doug lives a simple life and takes no salary from the company. He wants this company to succeed and is will to sacrifice to make it happen.
Question: Are there others looking to capitalize on the potential in SL?
Answer: Yes. The Chinese are there trying to grab land. The Sierra Leonians don’t trust them.
Question: Why don’t we have more PR’s?
Answer: We issue FR’s for our stockholders. PR’s will be issued when there is a substantial change in the company. This is not a pump and dump. We want to increase the PPS for real reasons, not fluff.
Question: What happened to processing gravel during the rainy season last year?
Answer: It didn’t work out as we expected, We didn’t have the right equipment to do that and we got busy with the CC deals and Doug needed to be back in Canada to support that. Hopefully, we will be able to do that next year.
Question: What type of housing is available for SGCP people?
Answer: In Zimmi we have facilities for 8-10 people, In Bo, we have facilities for 6-8 people. The workers have their own housing.
How is the land valued?:
Answer: Not sure. But we have long term leases with the land owners ranging from 5-25 years. The CC lands are for 50 years. With the land owners we have a memorandum of understanding. After all the expenses (labor, food, medicine) the land owners gets 10%.
IMHO
I agree with crosscut’s perspective on the Kiri harvest. The young Kiri tree (4-7 yrs) will not provide a significant lumber product, the tree trunk at this point is too soft and under-developed, but this is not to say that there will be no lumber production activity at the 4-5 yr mark. Crosscut, remember we are not talking about 1st world construction standards, we are talking about lumber for simple structures (huts),furniture, storage sheds, fence posts, biomass for fuels etc…
Besides, the company has no intention of engaging in other businesses, but to provide the raw material for Sierra Leonans to start their own business ventures that will help support SGCP’s activities. It will be a land owner we work with that would start a rice production facility or lumber mill.
So, as a shareholder, I am not concerned with the end product from kiri lumber, but rather how much the mill owner will pay us for the raw material to produce his products. If the mill owner wants to produce 10,000 fence posts to keep his cattle and goats contained, thats his choice, and not any of my concern.
The conference call is yet another positive sign that the company has authentic intentions and is willing to communicate openly with us shareholders. Although the CC did little in adding to my accumulated knowledge (many of us knew most of what was talked about), there are plenty of investors that were not as aware of the situation, and I believe there were some people on the call that was a first time talking with John and/or their first time on a CC call like this.
Good luck everybody,
BikeGuy
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