Still doesn't explain why one should buy TRX. Also, just because they (TRX) are not the government does not mean they are not crooks.
Perhaps Jim / Bill will start promoting you on their blog. "RMSTILEZ called the August dump in Gold. Here what he has to say about TRX and gold...TRX to the moon with gold at $50,000 an oz.
I think it's pad 4 that you are seeing. There are two green storage tanks visible in the 8/8 photos, one next to each of the last two ponds. The 8/21 photos appears to have been taken next to the farthermost of the two, looking back toward the pads--so that would be the empty pad #4...
Perc. test. Well the 60% recovery rate from the pads that Peter mentioned in his AGM presentation is astonishingly bad. This was supposed to be the low hanging fruit. There is not much 'high grade' oxide ore left that can be piled on the pads. Nevertheless, it seems like the perc test might be in anticipation of the 2nd lift (hence the grader working pad 3).
As a relevant aside-the engineer in the photo appears to be Indian/South Asian, I mention this because 1. Where's that Duval whipper snapper? and 2. He is obviously a professional services contractor = more professional service fees for the company that is already running on fumes.
or jim sinclair's doppelgaenger. pity all those who drink the kool aide, no matter which flavor.
If China were interested in TRX properties, China would wait for TRX to go bankrupt & the Buckreef JV to dissolve. It would then put in a bid to develop the low grade, hard to extract ore....BUT why would it do that? Iamgold could not make it work 2006-2009, TRX could not make it work...Wouldn't it just invest in high grade, low cost per oz projects? Take for instance Pretivm Resources--Zijin Mining group placed $81 million CAD in it in December...
Does Soros buy $50 million mkt cap stocks? let alone ones that can barely keep the lights on?
TRX had 277K CAD cash on hand May 31, 2015 (down from 1.8 million august 2014) that alone should make anyone interested in buying the stock worry.
Stormy--I think the argument for TRX going bust ($0.00) is pretty strong--based on the balance sheet (both negative working capital and lack of substantial financing), and negative cash flow. I think for time frame, you could argue, 'any day now' on the basis of negative working capital and no funding. So while it might be too costly to short at this point, it's hardly a buy, for two reasons: first, there is a raft of miners to buy that are well funded and can produce at a lower cost per oz. 2nd TRX lacks transparency as to production & cost targets (this is why people might think TRX is not above board--how much gold will they produce? at what cost per oz?).
IMHO under .1 soon...here's my reasoning: 3million + working capital deficit, no gold pour, has not fulfilled promise of gettng buckreef in commercial production which it promised several years ago, has not executed 'bullion loan' agreement, high cash burn rate from sg&a, directors sucked company dry by issuing payday loan for lease of equipment. + continuing bear market for precious metals + horrible jurisdiction.
What's your bull thesis? Please something other than Jimmy is 'mr gold'
This is what you call #Winning?
38c share price
31 May 2015 Working Capital deficiency of $3,381,834 (10Q)
0 oz gold poured to date
But 'they' just set a tactical nuke off in China! Maybe the gold impregnated steel wool can serve as a radiation shield.
The sheer genius of Jim's steel wool gambit! No one will ever think to check the steel wool behind tucked against the faucet of the camp sink.