The price has gone up. I have no idea why. The volume in May was about 1 million shares per day. June and July have been light. About 200k per day. I don't think any insider buying is going on. They have no reason to buy. They will steal the profits anyway. No reporting. My opinion.
They seem to have gone dark. No encouraging filings about their accounting problems or promises about filing an annual report for 2012. No news for weeks. I still haven't bought any of this stock. Trading could be halted any day.
They can't even get an accounting firm to work with them. They keep asking the SEC about accounting questions. The only experience I have with delist is XING and QXM, both Chinese corporations. They didn't last more than a few weeks in the grey market after being delisted from main US market. We will see. There seem to be a lot of stockholders holding on to their SHZ stock.
I still don't think SHZ will report. They will not contest delist either. How long will OTC carry them without reporting? I thought total delist would have been done by now. Trading is light. Buyers think they are buying something. Everyone is gambling now. Buyers are facing long odds. My opinion. Is anyone out there?
CSHZ now in OTCQB venture capital market. Market requirement:
"OTCQB is the venture marketplace for companies that are current in their reporting with a U.S. regulator."
This means that CSHZ won't last very long without reporting. Maybe two or three weeks. Lets see the trading range when trading opens. I guess about 6 cents.
The existing majority shareholder does not want to buy the outstanding stock. He already has pocketed the cash and he will arrange to pocket any future revenue from the mines if any of the mines are profitable to work. You should expect a delist. If SHZ goes to the grey market, you may have a few more weeks to trade in a range under 10 cents. I can't see why any market would want a stock that does not report. These are my opinions. Bet the farm if you want. It's your money.
Like doing a return on investment analysis on the Brooklyn bridge before buying it from a street vendor in Queens. This stock may look like it is worth 13 cents a share. It isn't. (I am having a manic episode. It will pass.)
No panic selling??? Maybe SHZ will be delisted to the grey market. Maybe not. No market wants a corporation that will not report. Or one that is flat broke and losing money. Can we believe that only uninformed newbies own this stock now? No way I am buying any at this time.
I found this posting:
China Shen Zhou Mining & Resources, Inc. (Amex: SHZ) ("China Shen Zhou", or "the Company"), a leading company engaged in the exploration, development, mining and processing of fluorite, zinc, lead, copper, and other nonferrous metals in China, today announced that Ms. Jessica Yu, China Shen Zhou's Chairwoman and CEO, will ring the American Stock Exchange opening bell today, Monday, June 16, 2008, at 9:30 a.m. The bell-ringing ceremony allows China Shen Zhou to celebrate its transfer to the American Stock Exchange from the OTC Bulletin Board on January 31, 2008.
Going out of business sale. Delist notice. "The Company does not intend to appeal the Exchange's decision. The Company's stock is subject to immediate delisting proceedings. Upon delisting, there can be no assurance that a trading market will ever resume."
It would have been nice to be in on this rare earth rally. I worry that the NYSE will shut this down any day now. SHZ still doesn't have any rare earth assets. No matter how they work their accounting, they are still losing money. They had very little cash when they reported in the 3rd quarter of 2012. How can they have any left?? I still don't own any of this. All of this is my opinion. For what it is worth...
They have missed filing the annual statement and the 1st quarter statement. They have accounting problems and auditor problems. They consistently lose money. Yes, there could be some bright side to all this. I don't see it.
You could look at the names of those 17 RE metals and look at the SHZ company profile and discover that SHZ has no rare earth metals. Or just buy more SHZ. I don't care. Tomorrow the stock will go down. Maybe we will see 10 cents this week. The stock movement part is my opinion.
Back in the rare earth craze days more than a year ago, you would be right. SHZ is not rare earth. Not even rare metal. It is about to be delisted totally. Don't wait until then to sell. These are my opinions. I care too much about my money to own this stock. I am just watching.
You could say SHZ has some new owners. A few new owners of a million shares or so. Legal ownership bestows the right to sell. SHZ shareholders have the right to sell before delist. Don't count on this being delisted to the grey market. Don't count on being able to sell any time you want. The clock is ticking. All of this is my opinion. I am not a shareholder. I am still just watching.