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Bullboard - Stock Discussion Forum Elgin Mining Inc ELGMF

GREY:ELGMF - Post Discussion

Elgin Mining Inc > Newest get rich quik scheme, bash dead stars together!
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Post by the_ocotillo on Jul 25, 2013 11:36am

Newest get rich quik scheme, bash dead stars together!

Earth's Gold May Come From Collisions of Dead Stars

All of the gold on Earth might have come from cosmic crashes between superdense dead stars, new research suggests.

The origin of the universe's gold is mysterious, since it's not formed within stars like lighter elements such as carbon and iron. But the mystery may now be solved, as a new study posits that the collision of two neutron stars — the tiny, incredibly dense cores of exploded stars — could catalyze the creation of the valuable metal.

"We estimate that the amount of gold produced and ejected during the merger of the two neutron stars may be as large as 10 moon masses — quite a lot of bling!" lead author Edo Berger, of the Harvard-Smithsonian Center for Astrophysics (CfA), said in a statement. "To paraphrase Carl Sagan, we are all star stuff, and our jewelry is colliding-star stuff."

Comment by ncpk on Aug 01, 2013 3:05pm
What is a current cash position of ELG and burn rate?     I'm thinking about buying in at this cheap price. Thanks
Comment by the_ocotillo on Aug 05, 2013 9:24am
As far as current cash position and burn rate, the company is in a state of flux right now so it's hard to say. At the end of 1Q13 they had $11.5m of cash and $17.8m of working capital. They have taken measures to reign in spending but I guess we have to wait until next week, when the 2Q results are released, to see if they implemented these measures quickly enough to stop cash drain. But even ...more  
Comment by ppp on Aug 07, 2013 8:05pm
If this is not a call on gold nothing is. Started buying shares today lots forsale it seems like. 
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