Posted by: Bull Finch Date: Sunday, August 29, 2010 11:32:13 PM
In reply to: Texan77 who wrote msg# 867 Post # of 1137
can_ wait posts
Posted by: can_wait 8/24/10 post # 155904
A little more food for thought - If you read between the lines like a sandwich.
"This is a due diligence case for the record books no doubt. I re-did a bunch of time lines over the weekend trying to see what their end game is. Between the combination of private and public corporations they control and trading and non-trading public corporations and reporting and non-reporting corporations they control and the vast array of assets they control they have a lot of options within their grasp but some formidable enemies also. The fact that the bashers just won't go away tells me that somebody is very concerned about matching this 34-for-1 dividend. I like the 34-for-1 risk/reward ratio a lot but once again this is not for widows and orphans. Due to how the DTCC is "wired" some of the dividend has to be in cash to be effective. There's about 14 mining properties out there that might show up under any company's banner at any time due to the non-reporting status of several of the players."
Posted by: can_wait 8/20/10 post # 155370
Here's an interesting post script.
I talked to the American Bonanza guys a bit. They own the Copperstone Mine to the North and contiguous with FFGO's S. Copperstone property. Their projected mine life as per their recent 43-101 results was only 6.5 years which I found interesting. Their cost per ounce to mine their underground ore is $415 per oz.
Both Arizona and Nevada seem to be gearing up for an explosion in gold mining activities with the price of gold over $1,200. A lot of the owners of the smaller properties are receiving expressions of interest especially from the representatives of European and Asian companies. I forgot to mention in my last post that a 5th party surrendered his shares of NMGL as part of whatever their plan that is obviously afoot. This was David Wolfin a very well-respected senior member of the mining community. His dad Lou started Cannaccord with Peter Brown. Apparently all of these famous and wealthy families have been doing business together in the mining sector in the U.S. for a while. When the 5 biggest shareholders simultaneously "donate" 99% of their shares into the pot for cancellation they're doing it at somebody's request or demand and they're accepting a smaller slice of a much larger pie. With NMGL about to contain 100% of both the Bouse and S. Copperstone properties one can't rule out that the end purchaser of those properties (assuming that NMGL is just playing an intermdiary role as a fully reporting entity) made this demand as part of an overall plan to acquire these and possibly other properties. Notice how NMGL is referred to as a "fund". Once again, be careful!
Posted by: can_wait 8/10/10 post # 155362
Sorry someone else created the post - I'm just the messenger. I'm not smart enough to come up with that.
Posted by: can_wait 10/10/10 post # 150995
Not true back at you.
"In order to be taxed as a qualified dividend, the investor "must have held the stock for more than 60 days during the 121-day period that begins 60 days before the ex-dividend date," as the IRS explains in Publication 550."
Posted by:can_wait 8/05/10 post # 148721
I called NITE corporate office and tried to talk to anyone. No one could take the call. Something about an internal crisis and everyone was at their terminal posting on an internet chat room.
BMFL
next week(s) is here
AI
