I do know that the production news is coming. What I can gather is that Tirex had some contract issues with Ekin Maden and now they have been cleared up or close to it. This is going to be a home run one day. I am also tired of waiting but I continue to buy when I can.
I cannot speculate on timing. I would have thought when they had permits in hand they would be ready, however I am not sure what these contractual delays are. This is a long process. I still feel if we are patient this investment will work out very well. I am here until something really changes. The drag on the stock sucks, but it has not been done with a lot of selling pressure or much volume.
I know the CEO just got back from Albania and they are wrapping some contract stuff with the production side. I feel they will begin or may have already started mining. I have been buying at these low prices, but still frustrated with the stock performance. I realize that the Junior Mining sector is at historical lows and every company is being lump together no matter how bright the future is. I am still long, but getting impatient.
This has been the same story for years. Wall Street does not believe. I thought when the patients came out pop to a dollar.,nope dilution. How much money does ELTP need to make for a P/E of 5 with 300 million shares outstanding. I hoped for 2 years. I will not post again, I was one of the true believers for a longtime. I read this message board everyday and believed the hype and it never happened. Good Luck I will not post again. Don't know why I am even posting today about this stock I have owned it in a year or so. The same bashers are still here which is wierd why waste your time.
I am not a basher. I thought this company had a bright future at one time. I thought the story of this stock was fantastic, but it has only let me down. Good Luck to you
I sold this when it popped to .26 cents and the same people are still posting all day long. Do you not have jobs? Is their a open computer in the nursing home or funny farm? People walk away from your computer and go outside. ELTP may have something interesting in patients however Wall Street is not biting. Management is a joke. Have you ever heard of any CEO loaning money to his own company to keep the doors open? That is a last resort tactic to keep the doors open.
Here is what I have gathered from talk to some people that know more than I. The permits are in and engineers are out testing and preparing for mining on the property in Albania. Tirex has secured financing so the balance sheet is looking better. Ekin Maden has joined forces with Tirex which will save Tirex capital expense from building their own mill. This will allow Tirex to start mining and getting product to the market quicker which hopefully leads to cash flow positive faster. I was told that the property that Ekin Maden owns that is near Tirex's property was producing $50 million in revenues per year since early 2000s and Ekin Maden is kicking themselves for not purchasing it when it was for sale years ago. So I hope that Tirex gets up and running in the next few months and we start to see how much metal is coming out of the ground and Ekin Maden swoops in and makes an offer to buy Tirex. This process has not been quick, but I think we are within a year of finding out if this investment is a homerun. My thoughts
Their are some articles on the Tirex website from different mining publications that contain more information than the news release. Also google "stockhouse" a Canadian stock message board put in v.txx which is Tirex's symbol and those guys have some more article links that Yahoo will not let me post because they think it is scam material. Yahoo has ruined their message boards.
On June 22, 2012 this stock was trading at .34 then the next trading it traded at the largest volume out of no where 657,100 with a high of .47. Today the stock 242,980 shares with 201,880 at the ask and only 41,100 at the bid.. This tells me once again someone was in the know that the permits were going to issued an bought a ton back in June and today was a accumulation day for someone trying to get a bigger position. This news makes Tirex into a mining company!! This is the time to be patient and not concern yourself over daily fluctuation it is only up from here. When news like, mining has started, how much is being milled, how much metal is coming out of the mill, and then revenues. I cannot fore see much bad news. I see a day out of the blue after this news has been digested that this stock pops past .84 then. 89 and then $1.20 which to me are all resistence area's. Then after $1.20 we see a lot higher prices. My thoughts Personally just relieved that permits came in and now I want some reward for my risk.
They got permits to begin mining on 6 sites immediately They will begin production right away and than once we get numbers of how much is coming out of the ground then we can calculate what valuation this company has. This is great news for shareholder because now we have a mining company rather than hope that Tirex becomes a mining company. The deal with the Turkish company to do the milling will allow Tirex to become cash flow positive in 2013. I feel this is the beginning of great things. This news is the reason to keep this stock because some of the risk has been removed. 2013 should be great and I plan holding until I find a better risk and reward that Tirex.
I have also been watching the Canadian market today and 415,000 of the 429,000 shares have traded higher than .81. I feel that your $3 is low, but would be happy to see it in the next 6 months.
This is the time when things are going to get real exciting. Sucks that the markets is closed, but our time has come. I feel news will come out more frequently due to the progress of mining. Very excited.