Gee, I hope I didn't spoil anyone's holiday.
Golly, I can't for the life of me understand why some people (probably giving themselves ulcers over naught) would thumb-down a post suggesting the folks who know some information relevant to the company might graciously post their thoughts on a public message board. After all, what's a stock message board for, if not to exchange ideas?!?
(Well, I guess I could see that there are some paranoid-delusional tightwads who think all exchanges of public info might put them at risk, or at least subject them to ridicule, but then why do they bother to read YMB? Maybe they fancy themselves a thought police censorship brigade. To each his own. Well, I suppose if they bothered to read this MB a few years ago they would have understood why SCEI was obviously a scam destined to be delisted and go dark... because it would be laughably implausible to earn a big profit reselling wet coal delivered in small quantities by truck.)
On four days this week, Van Eck's Junior Gold Miners ETF (GDXJ) reduced its holdings of SVM.
(Maybe Van Eck thinks it's stinky to bring back the fusty old CEO & CFO out of mothballs to ensure all the finances remain safely under oversight of the same folks who've run this stock into the ground.)
Surely this must be why folks are suddenly climbing over each other to buy shares at nineteen cents:
STATUS REPORT REGARDING THE RECEIVERSHIP'S ACTIVITIES AND APPLICATION FOR APPROVAL OF THE FEES AND EXPENSES OF THE RECEIVER AND HIS PROFESSIONALS FROM AUGUST 1, 2014 THROUGH NOVEMBER 30, 2014...
Would any of you folks in-the-know care to give us a summery of the report? (Does it suggest there are recoverable assets of $5M after all the fees???)
VANCOUVER, BRITISH COLUMBIA -- 01/29/13 -- Silvercorp Metals Inc. is pleased to announce a Normal Course Issuer Bid to acquire up to 8.5 million common shares from February 1, 2013 to January 31, 2014, representing approximately 5% of the Company's 170,766,058 common shares currently issued and outstanding has been approved by the TSX. The Company is taking this action because it believes that prevailing market conditions have resulted in Silvercorp's shares being undervalued relative to the immediate and long term value of Silvercorp's portfolio of producing and development properties in China and Canada...
Wash. Rinse. Repeat.
It really is quite wonderful news -- spectacular even -- that they were able to get that permit!!! Full steam ahead, and all... onwards and upwards... grease the wheels and toot the horns... gotta mine that ore while it's still in demand.
And to think they buried that info about the permit below some *other* news: how two old-timers are coming back to the flock... home to roost, as they say... rejoining the ole gang-a-roo... like peas in a pod... keep it all in the family... as CEO & CFO!
('Cause why bring in fresh blood when the same ole, same ole clan that has made this company shine the past few years can now make it sparkle.)
Oops! Someone made a boo-boo... 'twas supposed to be a trade at $.10 not $.01 -- now it's been adjusted!
(Big difference between $19 & $1.90.)
[[[Will I garner three green thumbs for this post??? :) ]]]
Uh, duh, you're citing information for last *quarter* -- I'm talking about last *week*!
As of the close on Friday, the GDXJ fund held 23,676,730 shares -- about 1.5 million *less* than at Quarter's end on 9/30.
(This daily info comes from the Van Eck website.)
Regardless, all this selling appears to have created a buying opportunity for you -- so load up, and up, and up.
Well, we've found common-ground you and I: I'll agree that this is indeedy a fun play (though methinks it would benefit from better subtitles, and perhaps a bit of editing to hasten the denouement). Not too small, not too big. Just right!
[[[And now that we're fast friends again -- I confess I find it a bit uncivil of you to keep giving me the red thumb treatment. Makes me question your affections and all. I don't expect anything green from you -- and I know there are no yellow options -- but you could lay off the criticisms for a bit, just as a show of solidarity and such.]]]
You could also clear up one note (and save me a look-up fee): long before this ballyhoo about Receiverships and the big putsch -- the Issued Share Capital of WISCON HOLDINGS was HK$ 1.
When I checked a few weeks ago, I saw that Wiscon's Issued Share Capital was increased to HK$ 10,000.
I'm inferring that new HK$ 9,999 of Capital was Ren's holdings & the HK$ 1 still belonged to SCEI (Nevada Corp).
You indicated that Ren never got control of the new shares of Wiscon... could you elaborate on that statement... or do I need to pay the fee to look it up myself??? (Not that the filings disclose the ownership, but merely the amount of Issued Share Capital reported.)
Thanks most kindly and with all the holiday fetes and trimmings!!! :)
Fie, Sir! I call fie on you!
You dissembling shill -- toadying up to the Receiver, as if he employes you. Have you no shame?!?
When you say "The Company" -- I don't know which sub-sub-subsidiary in far off shores that may or may not still have any connection whatsoever to the shareholders you refer? When I say "The Company," I mean Sino Clean Energy Inc., the Nevada corporation owned by shareholders of the stock SCEI.
And Nevada Secretary of State makes it very easy for the public to see who is listed on the Corporate filings through their SilverFlume online portal. And as far as I can see, that would still be good Mr. Ren.
And, curiously, I've seen no press releases that the Nevada-court appointed Receiver has any intention of changing who is in control of SCEI (The Company). But, if he did deem to take control of the US parent corp, he could well reinstate the corporate website if he chose to.
(As an aside, doesn't it make you shiver that the "Receiver" appointed a new Director for Wiscon Holdings, Lawrence Tomsic -- who is also the Interim CFO of REEDS, INC., an audit client of Weinberg? It's like a hornets nest in there! What possible motivation to keep things in close supervision of the same dubious CPA's who were signing-off on this miasma of corporate shenanigans for years??? Why would you rely on anything they said -- if you're looking for the truth of the matter. Oh, beware, beware. Be Aware!)
Every day this week, Van Eck's Junior Gold Miners ETF (GDXJ) reduced its holdings of SVM.
(Maybe a company that's becoming more dependent on zinc mining is of less interest to the fund.)
You know what's really sad... besides that the company has once again gone dark (no website, no financials, no news... and no updates from the Receiver, who is paid to maximize the value for all shareholders)... what's really sad is, those 13-D guys may well still be in denial that this company was a fraud from the start, and that any paltry monies recovered from China will most likely just go to fees and administration.
As I recall, last time the stock was this low, two of the 13-D'ers were actually *buying* more shares (as reported in the 13-D/A).
...do you think the same folks are loading up now below 15-cents???
(I guess we can wait to see if there is another 13-D amendment filing.)
Only a few more weeks before the NV corporation license needs renewal. Hmmm.
Second Judicial District Court - State of Nevada, Washoe County
Honorable BRIDGET ROBB:
ORDER APPROVING THE FEES AND EXPENSES OF THE RECEIVER AND HIS PROFESSIONALS FROM MAY 12, 2014 THROUGH JULY 31, 2014
Approved By: NOREVIEW
Did you notice two very odd things about the items stated above about what a Nevada-court appointed Receiver plans to do? Namely:
1) There is no mention of removing Ren from controlling the Nevada corp, SCEI (which is after all is the corporation the shareholders directly own). That would seem to be the simplest thing for a Nevada Receivership to accomplish, yet he hesitates, and so Ren still is President, and runs the Board. So after all the action plans in China, what would there be to stop Ren from awarding himself a nice bonus salary raise and stock options -- or maybe he already has (without financial reporting the past few years, there is no way to know what's going on at the corporate level).
2) The phrase: "...with the aim of trying to re-list on a U.S. and/or Chinese stock exchange" makes me shudder. After all, while the shares have been delisted from Nasdaq, they still trade, and can readily be purchased by people who want to speculate on their intrinsic value. Listing on a different exchange doesn't inherently increase their worth, it just means the company has met certain minimum requirements and paid certain fees and expenses.
This seems to be an acknowledgement that the assets and cash are negligible -- since if there really were sizable assets to seize, one would expect the Receiver to liquidate the company and distribute the proceeds to shareholders. But to remove the existing management, bring in new folks to manage operations, spend several years documenting sales and reporting financials, then attempting to list the shares again and hoping the underlying business is valued at more than the $4M or so the market currently ascribes. What if it turns out selling Very Wet Coal by truck is a horribly unprofitable business to be in? What then?
(At that point you might as well just raise capital to start a brand new operation, and stop wasting valuable time chasing ghosts. Maybe the 13-D group will be the first investors!)
I think the *only* folks who don't yet realize that the Receiver "controls" SCEI -- are the people who work for Ross Miller, Nevada's Secretary of State. Because every time I check their SilverFlume portal for corporate registrations, they still show President - BAOWEN REN. (Which makes me think the Receiver is afeared to cross Ren on this -- or more likely he doesn't want the legal onus that comes with taking control of the Nevada shell corp. That is, taking nominal control -- without any of the historical files or documents that shows what the corporation owns and its liabilities and obligations.)
Just one more big braggart trying to squeeze phantom money from long-term con-men who have no reason to concede. (Sorry, I think Ren wins that competition!)
Well, the Nevada registration expires this month... so maybe Ren will let it lapse (again) and then the 13-D dupes can pony up more money to pay the renewal fees, and claim whatever corporate titles rock their boat. (Honey, I lost all our investment -- but I've been anointed Vice President of the company, and I will get a nice door plaque with my name and title in big brass letters. Won't that impress the neighbors!?!)
(((And I capitalize Receiver because it's a title -- like President, or Director. Is that incorrect?)))
sinocei net = "This site has been suspended."
(Is that the Receiver's doing? Ren's? The domain doesn't expire until 2015, so maybe they didn't pay the bill for equisolve web hosting... again.)
Uh, you seem to be getting a bit carried away with the rosy picture you paint of hundreds, upon hundreds of million of dollars just sitting around in bank accounts for years -- waiting for you to come pluck them from under Ren's nose... (and all that while, the poor, poor CEO has been slaving away for a meager salary of just $18,816 -- that's right, less than $20k/yr, as reported in the 10-K filings.) ...and I'm sure that's just the way things have been going for the past few years when the company decided to cease disclosing its financials altogether. After all, why should Ren want to pay himself a fair wage??? (There were Boardmembers getting $100k/yr.)
The meaningful question for shareholders is not if there are *any* assets left in China that might be seized -- the question is if those assets, less the costs to get them and liquidate them, less the fees for the receiver will exceed the current market price for the shares.
Let's say that to build a credible back-drop for his scam, Ren furnished his ghost factories with $10M worth of real grinding and mixing machines and a handful of trucks. These are real machines and he may still be operating some borderline profitable operation to sell marked-up coal slurry to a "willing" government steam heat operation. That's still worth putting up a fight for.
Let's say the Receiver manages to gain control over the used machinery, trucks, and some pile of coal -- to liquidate the stuff might fetch, say, $6M? $4M?
Less any local debts or leans against the companies, less local legal fees, less Receiver's collection fees. He repatriates the net $2-4M to the US. Pays more legal and accounting fees to wind down the corporation and administer the dissolution. Remaining balance gets distributed pro rata to shareholders (including Ren) -- and in a year or two everyone receives 5-cents a share? 10-cents?
Sound like a good deal???
A little while ago someone purchased 888 shares @ fifteen-cents...
Makes me think this stock is showing appeal to Chinese gamblers -- since the number 888 connotes good luck to some.
(Of course, it would take more than triple-fortune to magically turn this scam stock into a viable investment -- but nonetheless it is entertaining to see who is buying here.)
Uh, SCEI *is* a fraud. And they have willfully refused to file financial statements for years. Has nothing to do with the industry they purport to be in.
But, that aside... coal slurry fuel has been researched and tested in the US going back at least until the 1970's... you can look that up. So no need for SCEI or any private foreign company to bring it to the US.
And maybe I'm missing something, but are you suggesting the railroads should use coal slurry in place of diesel in their locomotives??? Or that railroads, the main transporters of coal for power plants, should build pipelines to transport slurry by pipe rather than coal by rail?
Because coal slurry works for furnaces. It's not a fuel for internal combustion engines.
And the reason it isn't more widespread is that it is more expensive than using dry coal. And where air pollution is an issue of concern (though it really should be everywhere) -- the better approach is to replace coal altogether. And since some people are also concerned about CO2 emissions, and the environmental devastation of coal mining, coal slurry would be just as bad. (Also, there is the issue of toxic residue from "washing" the coal before it can be pulverized.)
[Now you can move on to your next line of baby-talk rhetoric explaining why a delisted, non-compliant, barely trading 15-cent stock is actually the world's largest energy corporation in disguise. Duh.]
You guys are nuts -- or intentionally misleading -- or both!
Coal-water mixture/Coal-water slurry fuel has two *big* advantages over using lumps of coal: one is there is less particle air pollution (but the same CO2 emissions) -- so less smog and dust; and two, that it's more efficient to transport liquid great distances by pipeline as opposed to trucking coal.
Also, the coal will burn somewhat more efficiently and result in slightly more energy from the coal and slightly less ash afterwards.
However, that is mitigated by: all the added energy and cost to pulverize the coal, the added cost for suspension additives, the added energy and cost to transport the extra water weight (and if SCEI is to be believed, trucking around a lot of wet fuel adds a lot of air pollution from the trucks to China's smog problem.), and most importantly the added energy used to burn off the water. (Not to mention the added costs for maintaining the special furnaces and nozzles needed for CWM fuel.)
So yes -- the coal used inside the furnace will burn more efficiently, meaning a higher rate of combustion. That does *not* mean the energy created will be cheaper after all the added costs. And it does not mean that there will be a net energy gain after all the added energy consumed for grinding, mixing, transporting water, and burning off water.
Fluidized bed combustion is completely different, and uses air as the "fluid" and lime to capture the Sulfur dioxide for other uses. (Adding water would just result in a mess.)
I don't believe CWSF is in widespread use in the US or anywhere... because it costs more than just burning coal. It's used in places that benefit from transporting the fuel great distances by pipeline, or where they are willing to pay a premium in order to reduce air particle pollution.
(And all of this is aside from the supposed "profits" SCEI claimed to earn, or if they are a scam.)