After long night sleep, the mind of Do finally digest the words of Poncho when he admitted to be selling shares at the same time he was posting profusely how great Jim and the company were doing. Do is shocked!!
Is Poncho a pimp? No, he is not. A pimp controls the subject and gets a big piece of the action (in more way than one). Poncho is more like the greasy guy outside the girlie bar beckoning folk passing by to "come in and see what's behind her feathers". This guy makes peanuts.
Do conclude Poncho is not a dunce as previously thought. Just a small time fraud who tells other people to buy while he, in fact, is selling. That pathetic.
JMVM...please at least read the links I put on the post. Many of your questions would not be asked if you knew a little more about the issues you raise. I'll try again:
Shortage of Capital? GW is not MCP, or Lynas. Link:http://www.gwmg.ca/html/news/media-releases/index.cfm?ReportID=203446
Can production be sold? It already is. LCM is nearly 20 years old and has customers all over the world. GWMG has letters of intent from, and is installing the strip casting furnaces at the specific request of, Vacuumschmeltze(Europe), Aichi Steel(Toyota-Japan), and Electron Energy(USA) for providing up to 50% of each of these company's flake alloy and other REE metal needs. These furnaces produce a flake product that the customer can feed directly into sinter-forge devices to create permanent magnets without pre-processing on their part, saving them money, and allowing GW to put premium pricing on the product. Win-Win. Here's one of the LOI announcements, you can look up the others on the website.
Reduce overhead? Yes, silly. See shortage of Capital above. GW is not MCP/Lynas. They are short of capital and cutting back on personnel, production at the mines, delaying projects. Should GW need further funds prior to transition to profitability, the amount will be relatively small, and most likely a debt instrument would provide a bridge. This is NOT expected at this time, though always possible. The recently completed NI 43-101 study and the in-process formal PEA are both insurance against that possibility. As I suggested,If you can think of a specific way to reduce overhead while beginning mine to market production, tell the management team, not me.
Mining cost. The mine at Steenkampskraal was a working mine for over 10 years from the early '50's into the 60's. It's refurbishment cost is much less than building any mine from scratch, and far less time as well. Did you look at the pictures I linked to last time? It's essentially finished. David Kennedy said on the CC that it could be producing by the end of the year, but there is no point, as until GWGQD is finished, mine/concentration output is un-needed. If you wish to see wasted money, see Lynas, who has supposedly been producing concentrate and stacking it for the past year, with no place to send it too for processing.
It's extreme richness of grade does offset mining costs. The mine itself cost very little capex to update and refurbish, and the concentration facility only has to process half the tonnage of Lynas, and about 25% of MCP to produce the same dollar value product. Look at the chart on TMR, compare the grade and compare content of HREE and CREE components, where the money is. http://www.techmetalsresearch.com/metrics-indices/tmr-advanced-rare-earth-projects-index/ GW's output from GWGQD will be 5,000 TPA, 25% of the LAMP or Phoenix 1. 25% cheaper to build than either.
If you don't bother to read and understand these and other published 3rd party articles, by such experts as Jack Lifton, who does not share your skepticism, you won't understand what this company is. Jack has years of intimate knowledge of the company and the sector, knows it's management, and has visited company sites. Out of all REE companies, he chose to own GWMG stock, his only REE holding.
What I am trying to do, is show you sources, not my opinion, that show a different picture of GW than you have put forth in your posts. Do more of your own research. Share it here. But back it up with sources. If you still don't like it, move on with my blessing.
(One can go on and on. I will stop here)
GWG: STOP WASTING MONEY!!!
"....Just about any airline executive could say that with equal conviction. Europe’s economy has stumbled badly, China’s growth engine has slowed and currency markets are in turmoil. All this makes the future very murky. Add rising fuel prices to the mix, and it’s easy to see why some investors saw the Qantas announcement as a good excuse to lighten up their Boeing holdings....."
...No surprise....Many of the big mining giants are shelving projects to wait out the storm coming our way and that is making headlines everyday now....We are starting to see those mass lay off headlines already. Many are looking at Europe & USA and not so much looking at ASIA....I keep my eye on that data.This one is going to be devastating.....Much much much much much worse..
Do, I don't think that he's a fraud, he says what he thinks overall. However, he could be a little more Nellie-esque, by saying when he's lightening up on his (trading) position while holding his core position, why, and adjusting his sentiment accordingly. He could argue that his long term sentiment is always "Strong Buy", even tho his short term perspective may be otherwise. Hiding behind that logic is weak imo. If one is selling a trading position, possibly due to something floating in the punch bowl, they really should reduce their sentiment to "HOLD", then "BUY" when they start accumulating, and "STRONG BUY" when it's pounding the table time imo. I know that you and Nellie have had an ongoing feud, but she's up front, and I really respect that about her. Ponch could do the same imo. So yes, imo, I can see how some were taken aback when Ponch rather flippantly indicated that he was trading, and that others should try it, when he gave little indication that, that was actually the case. So, it's not that big of a surprise that either Ponch or wwwater are not too concerned about GWM's flaws. We all live in glass houses to a degree, but most don't throw "rocks" in their own neighborhood. I've given Ponch a bit of grief for imo, overlooking where GWM could and should imo, improve, yet, pointing out the turds in other companies punch bowls. Imo, we have enough to discuss here, without going to other boards and fanning the flames. Discussing, comparing and contrasting here imo, is fine. Then, once we get all of our issues worked out, and PROVE that we are better, then, by all means, folks can crow all they want. However, we're all a bunch of wanna'-be's right now. Some will succeed, some eventually becoming has-beens, but there will be far more never-was'. So, let's try to keep management on their toes and focus on building out the vision, with the money that appears to be ear marked for it. Finally, I'm buying GWM right now, and will continue to do so, thus my "BUY" rating. "If" it dips as low as some guess, I may start pounding the table. Then, when we KNOW what the DRA, GQD and PEA reports contain, and if GWM eventually makes the mine to market vision a reality, I'll know whether I've made a very shrewd investment, or merely flushed my $ down the toilet. We shall see...
JJ-- Please re-read MY posts if you like. I have always held a core position in GWMG. I trade a portion, about the same amount, according to market conditions. I further encourage you to re-read any amount of Do, the Dr's, and others who post here. You will find they
1. Do not back up their statements with links to published information, articles, and company financials and news releases. Unless it is very old news that I assume most are aware of, I do. See how seldom they write anything but OPINION, which with $.05 in 1932 would get you a cup of coffee.
2. Like the topic above, and most of the posts here in it, the meat of posts are personal attacks, name calling, and sometimes impersonation. Several of those posters carry multiple ID's with which to carry on conversations with themselves and Five star their own posts while one starring others. How is this beneficial to obtaining information that you can base investments on?
3. I am very heavy now into GW stock, proportionate to the size of my portfolio, and have been for nearly all of the last 3 years, except for the big price slide, during which I did hold my core position in regards to GWMG. Wisdom does not permit putting all of your eggs in one basket when investing in speculative stocks. We have gotten no guidance from any of those who have posted above, despite their evident interest in GWMG. I share the information I find. It happens that that information says that GW has better prospects than both of the other well known Sector names, both of which I have bought, and sold out of completely based on their inability to convince me or the market that they have anything to offer in the way of future earnings and profits, good management, or prospects for significant continued growth, all of which GW does have, with positive history AND positive projections. Both of the other first producers have lousy history and little prospects of significant profitability in the next 18 months, which is why I am not invested there(see how that works? I'd put links in here to recent releases and news stories, but you already know those things).
GW does have good history, a record of good decisions and execution(buy RARECO, create JV with GQD), and money to build out their future plans for Steens and Vredendal, resulting in probable profitable success greater than other sector players.
The reason I post here at all is because some posters, like Subtle, Nellie, Contrary, wwwaters, shaman, and others seem to be interested in actual facts regarding the company, like it or dislike it, and I know that I do not have the ability to know all things at all times, though some here seem to think they do, based on their own opinion of their opinions.
If you don't think I am a credible source of information, or pump or bash with no logical reason, put me on ignore, and we'll both be happy.