Sierra Resource Group Inc. (fka SIRG)

[lmcat]

I just completed some interesting research on mining companies in Arizona. I am happy to report that SIRG is real and their BLM mining claim is for COPPER.

What I did discover is there remains a high potential for gold mining scams but not a single copper mining scam!

“A gold miner is a liar standing next to a hole in the ground.”
The quote, traditionally misattributed to Mark Twain, defines the experience of the many investors who have lost money in dubious Arizona mining projects. The state has a long and glorious history of mining scams, a history that continues today. The introduction to the Arizona Department of Mines and Mineral Resources’ (ADMMR) mining scams circular describes the phenomenon:
A time-honored method to bilk the public of millions of dollars is the ubiquitous mining swindle. Since an unusually rich ore deposit, or bonanza, has historically produced enormous profits for the developer, many of us believe that we too, like the ‘49er, can strike it rich. The glamour attached to “discovery” creates, in the imagination of some people, a relatively easy way to attain fantastic wealth.
Although money can be made in mining and this Department certainly encourages mining, we also have a responsibility to urge the public to exercise prudence in its investment. Too many people have lost their hard-earned savings on an illadvised mineral scheme. Archives are full of outrageous examples of mining scams and swindles in which the only beneficiary was a glib entrepreneur with unbounded optimism. In most cases, he disappeared before his investors realized what happened.

Arizona history is inextricably tied to the mining industry. Unfortunately, a lot of the invested money has gone to promoters and projects that had nothing to do with actual mineral exploration and development. The state’s effort to educate the public against mining swindles has been going on for over a century.
http://mines.az.gov/Publications/ofr02-20.pdf

FINRA's 8/24 gold stocks scam alert. Needs to be read by all penny gold stock players.

http://www.finra.org/Newsroom/NewsReleases/2011/P124214

and the actual alert

http://www.finra.org/Investors/ProtectYourself/InvestorAlerts/FraudsAndScams/P124119

"A Review of Recent Mining Stock Scams"

This is long but a very good guideline.

http://www.cerm3.mining.ubc.ca/documents/areviewofrecentminingstockscams.pdf