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Lake Shore Gold Corp. Message Board

augustusgloop 125 posts  |  Last Activity: 7 hours ago Member since: Dec 6, 2011
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  • Reply to

    The downside to certificates

    by relbochat 9 hours ago
    augustusgloop augustusgloop 7 hours ago Flag

    marry a sinclair and live off of the shareholders in africa.

  • Reply to

    The downside to certificates

    by relbochat 9 hours ago
    augustusgloop augustusgloop 8 hours ago Flag

    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?

  • Reply to

    BillDolt

    by ludwigvonmises2 Jul 11, 2014 2:13 PM
    augustusgloop augustusgloop 19 hours ago Flag

    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. "

  • Reply to

    Today's Low is $6.71 !

    by danielle0855 Jul 11, 2014 3:44 PM
    augustusgloop augustusgloop Jul 11, 2014 4:57 PM Flag

    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.

  • Reply to

    blackhawk down? where's the drone?

    by augustusgloop Jul 10, 2014 12:06 PM
    augustusgloop augustusgloop Jul 10, 2014 8:50 PM Flag

    i'm waiting with bated breath for material progress on Buckreef production. You know, ore on pad, leaching taking place, etc. which your good uncle Jim promised you would happen by the latest two weeks ago. I'll let you know if I hear anything. You do the same.

  • Reply to

    blackhawk down? where's the drone?

    by augustusgloop Jul 10, 2014 12:06 PM
    augustusgloop augustusgloop Jul 10, 2014 7:12 PM Flag

    Now the Allied Gold Buziba joint venture makes perfect sense. Soon we'll hear about jackrabbit quick start low cost operation at Buziba. High quantities of gold will be detected. Permits will be obtained. Trees will get cleared. There will be talk of moving the crusher. We'll hear little of Buckreef. Then nothing. Before too long, Buckreef will go the way of Kigosi, and all the others that came before.

  • Reply to

    bogus bounce gone

    by agchem2013 Jul 9, 2014 10:26 AM
    augustusgloop augustusgloop Jul 10, 2014 1:09 PM Flag

    small float & shares tied up works both ways.

  • augustusgloop by augustusgloop Jul 10, 2014 12:06 PM Flag

    No updates from the TRX drone after the deluge of press releases and clips of derrick being felled, happy villagers scuttling off with scrap metal, a few football fields being cleared, and the drone 'attacking' workers.

    For that matter, it's high summer and we haven't been treated to clips of the amphibious vehicle splashing into a Litchfield county lake. Maybe Van Tongeren pére didn't purchase it as part of the farm deal and is content to sip gin & tonics from the front porch.

  • Reply to

    CHAT Singing; If I Only Had A Brain

    by dear_stormy Jul 3, 2014 3:29 PM
    augustusgloop augustusgloop Jul 10, 2014 10:56 AM Flag

    Stormy - apt comment the interpretation of Wizard of Oz as an allegory for the gold standard (yellow brick road) silver (original silver slippers) etc.

  • Reply to

    Time to buy

    by futuresynthpop Jul 7, 2014 3:47 PM
    augustusgloop augustusgloop Jul 7, 2014 6:16 PM Flag

    I'd wait for the knife to land in someone else's back and then pull it out rather than try and catch it. Good sign that it stopped at 50dma & above April & May highs/horizontal support. Not as great that it broke through upward channel support.

  • Reply to

    OUTPREFORM

    by drink2mucho Jul 7, 2014 9:37 AM
    augustusgloop augustusgloop Jul 7, 2014 12:36 PM Flag

    not sure why you get a thumbs down? had been overbought for a long time, MACD turned negative. I don't see the problem with buying on dips. Though easier said than done & probably better to just do DRIP, let the uptrend work for you & not worry.

  • Reply to

    Blast from the past !

    by roger392 Jul 5, 2014 3:34 PM
    augustusgloop augustusgloop Jul 7, 2014 9:45 AM Flag

    Of course righteous indignation is the m.o. From the 1 Mar 1996 Sutton Resources Press release:
    ``It is incredible to me that the Sinclair's can engineer a US $5 million trade of Sutton's shares - from which the Company got nothing and they got US $2,000,000 - and then claim self-righteous indignation when Management exercises their personal options, at small relative profit, with a resulting injection of about Cdn $4.5 million into the Company's treasury."

  • Reply to

    Blast from the past !

    by roger392 Jul 5, 2014 3:34 PM
    augustusgloop augustusgloop Jul 6, 2014 6:40 PM Flag

    Ahh JES: He feigns moral outrage at the banksters; he posts links to corrupt Chinese businessmen/bureaucrats receiving capital punishment for defrauding the public; he uploads warm and fuzzy photos of himself and his dogs (before he sold the farm). All the while propagating the stories you all report.

    Perhaps the kindest words that can be said about him are what his former partner at Sinclair Group Companies, Vincent Tese, said of him in a 22 Jan 1985 New York Times article:
    ''He was always a great salesman type on Wall Street, but he wasn't a great businessman type,'' Mr. Tese recalled. ''I was always a pretty good businessman, so we thought together we had the right kind of synergy. We did very well.''

  • Reply to

    UP UP AND AWAY, EAT YOUR HEARTS SUCKERS!

    by jamesld2618 Jul 3, 2014 1:19 PM
    augustusgloop augustusgloop Jul 3, 2014 2:50 PM Flag

    Still a penny below Joseph Kahama's sell price. So I don't think he's eating his heart out just yet. Strange that he sold stock a few days ago (though probably related to end of quarter) when ore is already on the pad ready to be leached, Jim had just visited on very important business, and JV letters of intent had been signed. Maybe it's a MacGuffin and he's just making sport with the shorts. Maybe he needs the 10K in proceeds for renovations to his villa so he can charge more rent to TRX? Foosball table! Soda fountain! Gorilla paw ashtray!

  • augustusgloop augustusgloop Jun 30, 2014 8:52 AM Flag

    To which we know that:
    1. People. Debatable, but I don't see a lot of great production people on the ground at TRX.
    2. Tanzania is not the right political area, as Joe Kahama said himself, ranking in the bottom 1/4 (or worse) of all jurisdictions according to a Fraser institute study
    3. Cheaply mineable? Per the August 2012 PEA by Venmyn: NPV5 @$1,300 gold $81 million. with cap ex @$140 million.

    As you all had pointed out, this is why IAG abandoned Buckreef with a $117 million write down in 2009, the height of the gold bull.

    And why hadn't TAN range then TRX, around since 1990, been able to cash in any of its royalty schemes in its 20 years of existence? Its timing was perfect--so why wasn't it able to identify low cost mines, de-risk them, and sell the properties to production companies and produce royalties?

    A ponzi wrapped in a shell game, it is.

  • augustusgloop augustusgloop Jun 30, 2014 8:39 AM Flag

    I'll answer for Jim's Nephew "Wild Gold." From the 2013 Annual report, here's Jim:
    "We had to adopt
    another approach, which would be to find the right
    people and the right properties in the correct political
    area, establishing a company to hold the most cheaply
    mineable gold in amounts well in excess of anything
    that could be carried as a gold long position without
    any margin whatsoever. It was this approach that led
    Tanzanian Royalty to hold the present number of
    Prospecting Licenses and Mining Licenses in Tanzania
    without debt now on the verge of production."

  • augustusgloop augustusgloop Jun 30, 2014 12:07 AM Flag

    What's your bull argument oro loco.

  • augustusgloop augustusgloop Jun 29, 2014 9:19 AM Flag

    This is the way TRX ends
    This is the way TRX ends
    This is the way TRX ends
    Not with a bang but a whimper

  • augustusgloop augustusgloop Jun 29, 2014 9:16 AM Flag

    Wild Gold--TRX isn't going to march down to zero like an arithmetic function. What keeps its share prices up is the collective belief that breaths life into all stocks. The company has a few million in the bank, no debt, if gold were to jump to 2,000/oz more investors might put placements in it. That in a nutshell, is the investment case for TRX What Jim has done is taken advantage of the goodwill and faith required of any investor. TRX still has the highest valuation of any junior miner based on its limited resources, lack of feasibility plan (or rather feasibility plan that didn't work at $1,300-$1,400 gold), lack on production plan, time to start mining, jurisdiction, etc.

    Jim has obfuscated those silly, worry-making parameters by talking over them "We're now a production company" --as if anyone else would be incompetent to dig or wouldn't be able to do it as cheaply as Giancarlo. "Ore will be on the leach pad by May-June", "Leapfrogging/Jumpstarting" so as not to require the dreaded cap ex. "No additional funding will be required. Letter of agreements have been signed, Final approval received by Govt. of Tanzania." etc. It's all enough to keep big and little sheep in it. As relbo has said, the company issues more press releases than GE.

    But traders don't care because the volatility of it and other issues makes for a tidy trading sum to
    pocket. Sheeple will get burned as there is no company, nothing behind the drone clips and endless stream of press releases, nothing that happens at the investor paid for Kahama Villa will get the company closer to mining, nothing more than a few hastily put together 'mine designs' that get flung together w/o a TOPO underlay, nothing more than a few photos taken at some 'board meeting." Sooner or later, new investors won't be there to bail out the old. No Kigosi, No Buckreef, No deposit ever intended on being mined. So ends Jim's world, not with a bang, but with a whimper.

  • augustusgloop augustusgloop Jun 29, 2014 8:46 AM Flag

    Your right about one thing wild gold, it is likely that no one is going to issue a qualified report. From wikipedia
    "Unfortunately, many auditors are increasingly reluctant to include this disclosure in their opinions, since it is considered a "self-fulfilling prophesy" by some.[7] This is because a disclosure for a lack of going concern is viewed negatively by investors, lending institutions, and credit agencies, and therefore reduces the chance that the auditee may obtain the capital or borrowing it needs to survive once the disclosure is made. If this situation occurs, the auditee is more likely to stop being a going concern while the auditor loses potential future audit engagements, and so the auditor may be pressured to avoid including a going concern disclosure. In a study performed on 2001 bankruptcies, nearly half (48%) of selected public companies who faced bankruptcy in 2001 did not have a "going concern disclosure" in the previous auditor's reports.[7] Additionally, 12 of the 20 largest bankruptcies in U.S. history occurred between 2001 and 2002 and none of them had a "going concern disclosure" in their previous auditor's report.[7]"

LSG
1.19+0.08(+7.21%)Jul 11 4:00 PMEDT

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