Post by
twodogs1 on Mar 25, 2011 2:04am
My Views
I have decided to post for the first time on this board. I usually do not post period, and will just check the banter from time to time to actually catch the odd intelligent bit of info. On this board, the term "odd" is a definite understatement.
First of all, if anyone really believes that these bullboards actually influence a s/p, you are sadly mistaken. The people that have the clout to drive a stock higher or lower, do much better DD on their investment then to worry about what is stated on a bullboard. These boards are for the amusement of the small retail investor, and possibly the odd bored high roller.
Yes I am a holder of this stock, sadly. Sadly because I bought into this venture on advise from another investor and the endorsment from Jay Taylor. My feeling and research on the mgt team was of pure promoter, no substance. Sadly I did not follow my DD, as I thought I had missed something if Taylor was giving them a thumbs up. I did not believe that his call of $1.30 was attainable, however .60 - .70 did not seem far fetched and that would be a nice return.
The mgt team has never started a producing company before and I agree there will be growing pains. However, instead of getting over your head, hire people who have. This is money well spent. A company is always a reflection of its leadership, enough said. It also reflects on who we can hire, as reputable companies usually do not what to have their good name ruined by their associates. Is this why they struggle to have a proper operator to mine their leases?
Their news releases are misleading. Last August 4th they stated they had started mining #2 and in 7-10 days they would begin on #3. In April of last year they stated they had received $900,000 in warrants and options, and there was no need for more financing. We all know that none of this has transpired.
Their IR is a mess, with different stories all the time. However, the list of info that Richman spelled out from his recent talks to IR, corresponds with someone else I know who called them. Maybe they are catching on to sticking to what they know and not what people want to hear. What frightens me is I was also told that CD was flipping options because he had to pay for his kids braces!!! If a 51 year old CEO of 5 different companys needs cash that bad, and cannot support his own play, we are in deep trouble. Also, if this is true, IR keep that to yourself and just agree to pass on your frustration of flipping to CD, giving out this kind of info is embarrassing for him and yourself.
Mine #3, which we are led to believe should be very profitable, was to be mining by 4th quarter last year, now we wait for a road to be rebuilt. No mention of that last year. The growing pains continue and we, the shareholders are left holding the bag as mgt continues to trip over each other. Quality over quantity CD, try to do one thing right, not many things poorly. I hope you remember that you have a great responsibilty, as you are spending someone elses' money that they entrusted to you in good faith.
Now, does this post label me as a basher, you decide. For me I am an investor who invests to make money. I believe this play has the potential to be very successful, but there are many components to achieve this and solid leadership is always crucial, especially when you are a junior stock. Lets hope mgt has righted the ship so that we can finally see the s/p move upwards. This will not be easy now as the float has doubled in the past 2 years, there will be lots of selling pressure as many people are not looking for a big score, just to escape with their initial investment. Also, I do not see CD attracting any big investors that will eat up millions of shares to keep the momentum going if this ever runs, as well the recent bull market is looking a little shakey.
One final word, those who own shares I hope you can continue to share your thoughts and info, those who don't, get a life and move on as you are only embarrassing yourself. For those who want to engage me in banter, do not bother, I will not respond as this is a one time post.
Best of luck
Twodogs1