Replies to post #72236 on Southridge Enterprises Inc (SRGE)

[Bloomberg]

Sterling,

I posted this last night around 12:00 A.M. EST. I did quite a bit of DD and have proof. I see where you know quite a bit so hopefully you can hit on some things I have found. I just want to see what you think about what I have uncovered and I am not saying anything negative as I do want to see the company succeed as we are all here to make money.

Jbloom

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Fellow longs, shorts, whatever you may be I am a decent size long here bought in recently back and have some extensive DD to pass on to you. I am not here to bash the stock as we all want to see this succeed. If there is an doubt that what I am saying is not the truth I have emails, call logs, etc to back up my info as at the end of the day, I am here to make money and want to make sure what is going on is really happening.

First off I see there was a late filing report that came out I contacted Magna Group regarding any info of the Qtr report and I was sent an email that basically said they are in the process of DD SRGE and will release any info upon decision, etc. They also told me that when they come to an agreement that they are going to provide documents to the public, etc.

Now this is where things get "juicy":

I wanted to get to the bottom of this Cinco Minas property, does SRGE have it, etc. So first off I called the company Southridge directly and they told me that yes they do own the property but they are not currently mining on it. But i wanted to find more out so I did many searches on google maps, came up with pics of the land, there are buildings, etc...it does exist with buildings, etc. But then I looked for more, found a website (what is like google to the miners world or anyone affiliated in the field) InfoMine. They cover everything, 100% legit worldwide company about properties, equipment, etc. Did a search on there database and it said on the website with map that Cinco Minas is owned by Southridge, but I then emailed the offices in Mexico; I received a response at first saying that info regarding mine owning is available to be found out in one of our packages for members. I responded just needing to find out about then mine, and she did clarify that Cinco Minas is owned by Southridge Minerals. But also I had emailed a lady in the U.S., one of the heads of Mining properties and got a speedy response stating that Cinco Minas is a subject to a legal dispute between Bandera Gold Ltd and Southridge Enterprises Inc. This really had me raising my eyebrow, so I called her..she could not comment much but I had told here what the Mexico offices had told me and she was not happy that someone had passed that info onto me (hopefully no one gets into trouble) but she said they are in a legal dispute and was very upset someone told me that. (SHE DID NOT DENY IT THOUGH AT ALL)

I then learned quite a bit, so then I made a phone call back to Southridge and asked about a "Legal Dispute between Southridge Minerals and Bandera Gold Ltd" and she seemed quite puzzled of how I came but immediately said let me take your name and number and I will have someone call you back (which is yet to happen)


Overall here are a few things I have found out through extensive DD and I am not making any of this info up as I have emails, etc and if you have doubts shoot me your email PM. But as I said, I want the company to succeed and I want to make a lot of money like others here. Please do not twist this, if anything is not clear please ask questions and I will answer the best I can. Do not worry either I have many phone calls to make as I have compiled some numbers I am going to call and see what I can come up with. Overall though from my findings I don't want to say that Southridge does not own the property but the email from Mexico makes me feel a bit better about the situation as that is coming from the country, right there and they deal with those places hand in hand.
But as stated I have more DD to do, and I want the company to succeed but as I have said from the beginning; I call it how I see it, and i'm just wanting the truth, with proof and answers also.

Regards

Jbloom

[terry_mathews]

So is this your opinion that the economic viability difference between 2003/2004 and 2012 is purely the price of gold or has someone with professional experience actually researched and confirmed this to be true? It is dangerous to promote an opinion as being factual without evidence that what is being claimed is real and not pure speculation and unsubstantiated theory.

Do you really think that the difference in the price of gold between 2003 and 2012 translates 100% into profits to the miner? Really? Do you have evidence that this is the case? maybe financial data from a real gold mining operation that shows the exact same multiplier you are using in yiour analysis.

[I-Glow]

What you have failed to take into account are the mining conditions as reported by Tumi in the underground mine.

The price of gold has nothing to do with the dangerous conditions plus, as Tumi noted the resources were too low.

Additionally, a review of an underground high-grade mining option gave resource numbers too low to be of interest to the Company, particularly when having to deal with a large number of historic open stopes.

Then, no one from SRGE has addressed the problem of a high ratio in the surface or open pit mining.

Although a resource was established for Cinco Minas, the results of a scoping study previously undertaken by Behre Dolbear indicated a very high strip ratio for an open pit mining operation, such indication having been confirmed by in-house studies performed by the Company's technical consultants.

It states a VERY HIGH strip ratio - this means how much overburden you have to remove to get to the ore.

I haven't seen what the ratio is and you have never addressed this in your DD. So you can not make the statement that it is now economically feasible to open Cinco Minas.

Why in all of the press releases by SRGE has the mining ratio not been discussed?

Stervc, without those numbers you are just using fantasy numbers that have no bearing to the reality of Cinco Minas.

IG

[terry_mathews]

stervc & ALL, important confirmation to understand...

SRGE is a fraud. They continue to lie and they continue to get caught. There is no DD posted about this company that is factually accurate and all DD posted about SRGE profitability and value is based entirely on wishful thinking and denials. the recent confirmations from Magna, the loss of their legal team, the 75% haircut in their PPS at volumes that refute and O/S reports, an increased AS, and falsified bio's are only the short list of deceptions accepted by others.

No surprise Marc did not respond today but the collapse did. Insiders who know they are DOA are dumping like there is no tomorrow because there isn't.