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Silver Falcon Mining, Inc. SFMI

"Silver Falcon Mining Inc is engaged in the exploration and development of gold and silver properties in the United States."


GREY:SFMI - Post by User

Bullboard Posts
Post by telephoneboothon Apr 29, 2010 10:40am
744 Views
Post# 17043655

Company Scam?

Company Scam?I don't think so, but after looking at the filings I decided to sell my paltry 30,000 shares.  Much of what David Adell stated is in the filings.  The company is making no attempt to hide it and even states something to the fact that Breitkrutz and quilliam may not work in the companies best interest since they are owners of Goldcorp Inc.  It is very clear that Goldcorp and Quilliam are locking in a very large piece of the pie  (20 to30% of the net smelter run).  I think that what really rubed me wrong was the fact they stated about Quilliam being a major owner of the consortium that owns the mine which they expect to use for ore removal.  They with Quilliam are draging 15% of all ore that passes thru it as well.  When you add up all the cuts,fees ($1 million/yr Goldcorp lease) operating costs, and past debt There won't be much left for the company (share value).  Looks like huge dillution ahead.  Do your own DD.  On a good note my shares sold instantly so there appears to be good liquidity.  Good luck longs, this is just one of those stocks that kept me nervous.  T-booth.   
Bullboard Posts