IDCCNOKIA - I agree, but they need to prove that they are on track / within cost with Lindbergh buildout…Not a pleasant surprise for the analysts during the quarterly call who had been visiting the pad 6wks prior and told that everything was fine. I'm bullish otherwise.
OK - I'm a dilettante but to me it looks looks like PGH bounced off of bottom of upward channel, 50DMA support, + MACD looks to be turning around. 6.6 range was also former resistance. Doesn't seem like such a bad entry point with a judicious stop in place. What are your metrics ABC? I haven't been following how your have picked your trading thresholds.
sure does look like a double top, MACD also looking negative, + gold a bit heavy. still, i'm prepared for some miracle: warrants exercised & company BS'ing for 1 more year with drone footage, press releases, shuckin & jivin while the officers raid the treasury through un-warranted salaries, personal expenses such as medical, rent, airfare, etc. run through the company (or a 'loan' that will never need to be paid back b/c the company will not be extant in x years).
How do scam stocks protect one from a meltdown, esp. if the company that never mined, never explored, never delivered a royalty agreement in 20 years runs out of cash before gold hits 2k?
You said it LvM2! TRX's regulatory filings are littered with abandoned projects that belie all the press release confetti of final permits and JVs, whispers of fast tracking and low cost mining, assurances that MUX and Trucks are going to take you to the moon, and other sundry lies.
Nice work. It's always a tipoff that not everything is coming up roses when the company doesn't even announce earnings in a press release. Than god for Edgar.
I would guess a few shorts are getting nervous if the warrants aren't exercised…with only $2.8 million in bank (good enough estimate, possibly on high side), a few might be wondering what happens when TRX goes dark and they aren't able to close their positions.
Even worse off, of course, are the paper certificate holders. At least they'll be able to show their grandkids. "This is what we had back in the day!" The grandkids will google it, see that paper shares weren't even used in 2014, further search archival yahoo message boards that see that TRX never intended on mining, that there was no business (as traditionally defined) underlying the security, and the whole thing smelled from the get go. Grandchild will look at grandparent and think, I hope I didn't inherit his brains.
Interesting. It would also explain why Jim ben Bertram was overly solicitous of the big short at the AGM a few years back, "worthy adversary" yadda yadda. Heads Jim wins tails, shareholders lose: Giancarlo lives to fly the drone another day & daughter keeps dressage horses.
Though exercising at too low a price would set off too many red flags with regulators, no?
Agree upside very limited & anybody holding warrants would be fully hedged. On the other hand, this would seem to be the last hope of funding the company. In my ideal world the company would shutter its doors around the end of the year & gold would hit 2K the following quarter.
Not sure if they're worthless…Plugging $2.5 calls into a Black Scholes for mid August gets you $.35
Relbo- did you see my question buried in Luddy's BillDolt (the first) topic? What would be the proceeds to TRX from options exercise (2.5x 2.5 million?)?Sadly enough to keep them afloat another year?
So the finance strategy of the company seems to be pump up the share price to 2.5 & hope that warrant holders buy in. It's a cash exercise rather than cashless from my reading of it? Please correct if that's a misunderstanding... In a perfect world TRX would get $6 million dollars to flail around another year + Jimmy can keep his word that no more shares will be issued -- except the 2.5 million he offered at a bargain basement price so He and Steve and Joseph and Victoria and Uli can stay on the dole a bit longer (maybe even with raises as a tangible way of showing shareholder appreciation to loyal board members who stood shoulder to shoulder…)
I noticed that Jimmy used the same language in Nov. 2011 as he did in Jan. 2014.
“tangible way of showing our appreciation to a loyal and supportive shareholder who has stood shoulder-to-shoulder with us during a period of volatile market conditions.” The first one was only a few months after the offering. "
2bc - can't argue with TA. I would love to see support to hold around $6.6 50dma, former resistance. That plus MACD turning positive & I'm back in w/ my trading shares.