How do you know the plant is without spares? Interesting charge to make with no information, or do you have some type of inside line? Just asking.
And just as an aside, I believe that both Nasty and Goldbugger are shorts working together to fill the board with garbage which is why almost everyone is one ignore. glta
I am going to say something that may sound both stupid and naive, but here goes. Jason is in Colorado Springs. I know Colorado Springs fairly well and it is the closest place to "Father Knows Best" that still exists in america. Republican in the best sense of the concept and totally reasonable Democratics and a community that still seems to have some sense of values. And dead center is Goro just across the street from the Broadmoor. The idea that anyone, other than people who are at least attempting to be upstanding, would locate themselves in exactly this location seems difficult to accept. I guess shysters and frauds exist everywhere but Colorado Springs is still so personal that if this turned into some type of serious fraud the Reids and their children, etc. would definitely be blacklisted. Yes, through their incompetence they might very well fail, but all the other #$%$ just doesn't ring true for me. I agree that Bill pushed the limits and maybe ran right through them, but Jason seems much more sincere and motivated and he just maintained the dividend which as we all know took some real doing. Also just a BTW, the technicals etc. are all saying that we are very oversold so if we get any good news either company specific or PM pricing we should get a pretty good bounce, but then again without some real progress in the end nothing really good will happen. As far as other positions which might be superior, yes they probably exist, but I am in this one and getting a rich dividend with at least some upside promise so I'm staying put, but whether I would enter a new position is another question and I do understand other's hesitation. gl and thanks
Absolutely Sam. Like I said to Bead. At this time there are really no numbers available that would satisfy someone who is looking for current confirmation of progress made by obviously shaky management. Can I say it any clearer than that? glty
With three 30 yard dumps we should expect approximately 13 loads a day which is 390 yards so with three dumps we will get approximately 1170 tpd to the surface. The subcontracting local trucks will then be able to bring this to the mill. There are more details that could be analyzed, but there are some real numbers for you. Think about it. thanks as always.
Bead, while Goldbugger is a douche, your asking for numbers to support buying at exactly this time is as we both know a Red Herring. There are no numbers available and in point of fact using your analysis (which BTW is at least mostly legitimate) which clearly states that you will wait until real progress is made to buy completely establishes your waiting position. Additionally, we both know that the 3Q13 numbers will be bad if not dismal. Any profitability at all and any reasonable cash flow numbers will be gladly received and are not expected. The turnaround is not expected to begin until the 1stQ 14. That will be when numbers begin to appear and when you might consider buying in. Hopefully the stock price will be closer to $10 than $5 by that time and you will buy at a higher price as you stated clearly you might. If you want some numbers that make sense here are some possible anticipated real production numbers in terms of logistics and bottlenecks.
1) It does appear by the 1stQ14 that they will have a dozen or more faces going and it is expected that these faces will be producing at least slightly better grade of dirt than has recently been mined. They are getting 800tpd out of the inferior faces and the number is around 8 so getting to 12 faces and better grades does give them the ability to theoretically dig and ship out 1200tpd of decent dirt for mill input. Again one has to trust the numbers the company is talking to some extent but this would be reasonable by 1stQ14.
2) Then comes the shipping issue. Since the digging will probably occur on levels 10-15 if not deeper and some may possibly be on side shafts off of the main ramp and each level is approximately 3/4 to 1 mile in circumference with a 3-4% grade to can expect the 30 yard dumps to need 1 1/2 hours+ per load to the surface and with three 30 yard dumps (I believe this to be correct, if anyone knows differently please state a correction) Next post please
Very concise and cogent analysis there DC. I luv it, and yes, way too much truth in it. glty as always
Kyle, very good is probably too strong, but decent is probably accurate and most miners, especially juniors are not anywhere that good. We will now be attacked for the negative cash flow supporting the dividends but the negative cash flow has been fairly minimal (still more than I'd rather) and this is during a period of very significant PM pricing weakness and operational failures. Changes do need to happen but thanks for the investment during this weak period and good luck to you.
Gold, thank you for your input, but the constant childish insults directed towards everyone is just discomforting. Also you constantly manipulate what is said which is also a further sign of a troll, etc. I did not state that I would rather not be in the stock. I mostly stated that I wasn't thrilled about being underwater with my input price and that I was accumulating more. You are now on ignore but good luck.
Just a BTW Bead, I like your position better than mine, but we each have to live with what we have and at $5 I am accumulating. glty
The TPD output is what is sent to the mill not the trash that they have been digging since they had to reverse direction thanks to Juan Flores. The trash is used to fill in, etc. Yes Bead, the dilution was explained but as we both know, Will these guys have some further problems that causes the grade to stay lower than the .35-.4 area. I sure hope not. Again, carefully watching for the grades that will start appearing soon out of splay #5. Hoping for some reasonable numbers. We will see.
And Goldb, if you don't like what I write then don't read it. A little young and aggressive, and probably short (stature, not stock position, Lol) also. Please stop with all the insults and BTW, I am not at all sure that we really are on the same side. You could easily be a troll just waiting to reverse sides. We will see.
Bead, I agree that there is really not much concrete progress at this time. We have always been in agreement on that point. I am surprised that you don't see the point of the mill expansion. To me and running companies it is what I would call clearing the road forward. I have found that if people have a clean situation set up for them then they can really produce and if even small bottlenecks or impediments are put in the way then the drop off in productivity is immediate and extreme. I always over invested in equipment, inventory and other support items so as to maximize output per labor hour input. To me that is what the mill expansion is about. Setting up a situation where they can smoothly produce when they get the drilling and tunneling problems straightened out and not just be in a new situation with further problems. The 30 yard trucks fill the same role for me. Setting up the infrastructure so that it doesn't demand further focus when they get rolling. Interesting to me is that my assumptions were attacked (notice the 5 years time frame to get to 2000 tpd, which I don't find especially optimistic) on several levels, but to me the one assumption that seems most sketchy is the grade issue of .35-.4 ozeq per ton and of course, no one mentioned this. To me if anything is going to doom Goro it will be that they will not be able to find ore grades at that level that can be economically mined. You can be sure that I am going to be watching the ore grades very closely as the newer veins are mined. always a pleasure and glty
Just a side comment, "Do you have any idea about the darkness that awaits you??? Real question that is much too scary for you to ever face. Get a life and love your loved ones. Just a hint. glty
Again thanks Gold, yes must be me cluttering up the public boards. Not any of you or others with your endless BS. Again thanks, must be the prescriptive drug routine for my genetic heart disorder.. And just a BTW, I am long so remember, "My enemies enemies is my friend." But I understand, unless we stroke your ego or your limp member, we are some one to attack. quite amusing. Grow up. Until next time. Love Barry
Love going off and looking for gold and silver resources, not loved being bored. It is what David was very good at, which you would know if you had any history with this company. I'm pretty sure that Bead understood what I meant and I wasn't talking to you. And just a BTW, I don't agree with your pumping any more than I support the shorts, so thanks for the help but I am not especially interested in discussing this any further with you. Good luck though, and Bead if you have any comment please feel free though as always, no comment is necessary or expected. bye all
Someone else who left was David Reid as you know. We calculating the money saved, David was paid $828,000 in 2011 so there is another place the company cut expenses. David is now 64 with money in the bank and 3 million shares of Goro. I wonder if Bill and David are going to quietly go off and look for new locations for acquisitions. David always loved that and he and Bill might be getting bored. They would get to travel around again checking out foreign mines, etc., like the old days. Hard to really give up when it is in your blood. They did start this company right even if the followup has been not so good. Just something for you to watch out for.
Additionally when analyzing the numbers I am looking for 2000tpd output to be reached in 3-5 years. This will take the development of new seams, deeper depths, possibly a second mine at Las Margaritas and tunneling to some of the newly located splays and parallel veins that are appearing as the continue to drill out. This is only 70 - 30 yard dump truck loads a day which is very doable with enough faces. At this point I also will be looking for about .35-.40 ounces per yard so we are talking about 700-800 ozeq per day or about 70,000 ozeq per quarter. Pm prices around $2000-2500 and $40, etc. This will take some further plant expansion, but that is doable also. Hard to really know if they will get to these numbers but I'm waiting and this is a possible framework for you to use as you watch for progress in real terms. All the other stuff, skarns, foreign mines, El Rey I'm discounting completely for now. We'll discuss the progress over the next couple of years and see if these clowns can make this happen. glty
I posted an answer to goldbugger, but for some reason it didn't go through. Firstly no bravo for me. Being underwater is not something to be proud of. Secondly, my perspective is mine, not for others. Everyone can do what they wish, and I do have almost everyone on ignore so I can't see the insults, etc. The reality will come right in the door, all the talk is worthless, but please continue if it makes everyone feel better about themselves. I do find it odd that I have become so important here. Really, I count for nothing. You should all find something more important to talk about. Bye
And Bead, just one other thought on this point. The Reids aren't buying much for the same reason that they didn't sell more shares when the stock was above 25. A secondary offering in the twenties sure would have helped the Treasury balance, but it is just not how these guys think. Maybe dumb, but at least consistent. Again always a pleasure.
Absolutely Bead, the Reids have already paid themselves. To the tune of around 15 million plus the continuing dividends though the 15 million might be a little high. Everyone forgets about the 6 million or so that went to David a couple of years ago. But they didn't do this by issuing stock or trading against the shareholders or any other obscure manner. They did dig up gold and silver, etc. and sell it. And others have also gotten the dividends so they did share some of the money. Not like facebook with the two tier stockholder system (for better or worse). It is one of the reasons that I am pleased that Bill resigned. Others see it as a negative but I believe that Bill thought he was taking money that Jason needed to run the company, and let's be frank, Bill is still receiving tons from the divs. Also I do think that the playing field has changed with Jason taking over. He now has decades to spend running this and he will never get a better gig with his resume.