RE: RE: RE: RE: NEWS OUTnobspls was only full of BS.....he posted as several different alias's and was busted! nothing he said from the beginning of Sept 2010 was correct! He was a disgruntled former shareholder who wouldn't take responsibility for his own poor decisions.
Clevland Cliffs CLF was trading at $120.00 before the Oct. 2008 market correction. It went down to $12.00.
A person who bought at 120.00 and watched it drop to 12.00 could very well say theat mangement and the company were "crooks, stupid , incompetent.....yadda yadda yadda!
I bought Cliffs at .38 on the way back up in a sizeable way. I sold a bunch at 75.00 and it recently hit 99.00.
I think management ROCKS!
It's all a perspective of when you got in and if you weren't smart enough to get out!......funny how no retail investor ever takes the blame when they lose their own money.
The following is off the other board. Also....as disclosure, I hold a lot of GAX shares so I'm very biased.
RE: Red Ore Mining IPO
I will get further clarification on this, however, if I understand this correctly the pp shares will be sold and issued in the next few weeks. They will have a four month hold. The stock will come out as an IPO in about 4 to 5 months depending on how long it takes the exchange to clear the company. (I understand the Audits are already complete). When the stock comes out as an IPO the shares held by the pp holders can be traded. The shares held by GAX can also be traded, although that is unlikely. We will have a very low share float and relatively few shares trading. Where the high risk opportunity lies is in the fact that Battle Creek is a very sound project with large potential (Do some DD) with a million in cash and a good drill program, if this comapny hits anything decent the sp will go stupid because the share float is so low. One million $ in Nevada lets you do a lot of drilling, provided you don't go deep. I suspect this drill program may be well under way....or even completed bythe time the shares can trade. Nevada also changed regulations in the last weeks making permitting much easier. Anyone remember Quest Uranium? This was the same type of deal that Freewest had. Turned out that Quest was worth far more than it's parent.
Not suggesting that here, but this is a strong mining district in Nevada and this is a very good property.
This can add a lot of value to GAX and especially to it's owners if the Battle Creek project hits and this is paid out as a dividend......or if one of our HUGE Nevada nieghbours, like Barrick or Newmont, buys out a find from us.....This is all..." big blue sky talk"....but a buyout would build a huge treasury for GAX. This is worth some serious DD in doing a risk/reward assesment if you hold GAX. If we can fill the Red Ore pp and get a drill spinning there, this could rock!
Robin has been very pro-active in getting work done so far. He has been within weeks of his time lines when he plans drilling or corporate activity. He say's he will do something and then he follows through. I speak to him often and so far he has never made an excuse for anything. Ask Larry Hoover his impression of Robin. I won't argue that he isn't a promoter.......that's his job,.....and some don't like promoters! But, he does know the business and he doesn't waste any time fiddling arround making promises he has no intention of keeping........so far he's delivered on what he has said since I bought in the PP in Sept 2010. What happened before then .......I can't comment on, as all I've heard is sour grapes from SH who lost money. Was that Robin's fault..?..I can't tell. I just know I'm at a triple from the first PP and up 40% from the second and at even for the third.........we have cash in the bank....a drill program......a 43-101 coming on Montrose.....and a spinnoff in Nevada......and I smell something cooking at Kellyn....... I've been an owner here just 6 months.
Do your own DD