I take pity on them sometimes. The things that they don't know about how Wall St. really works seem to be endless. If they were better informed, perhaps they wouldn't fall prey to the conspiracy babblings of Sinclair.
An ETF like GDXJ, holds a portfolio of underlying securities. In this case, a market cap weighted basket of the stock in the Market Vectors Junior Gold Miners index. The Fund manager, Van Eck, insures that the underlying portfolio tracks the index by periodically rebalancing the portfolio. Rebalancing is generally fine tuning. What drives trading in the underlying securities is a divergence of the market price of the ETF from the NAV of the portfolio. If the market price of the ETF deviates from the NAV there is an arbitrage opportunity. If the market price is below the NAV, a trader can buy the ETF and sell short all the individual holdings for a profit. Likewise it the market price is above the NAV, a trader can sell short the ETF and buy all the individual stocks. There are specialized firms that execute these types of trades. In the last case, the trader would deliver all the components in their proper proportions to Van Eck and receive newly created shares of the ETF in return. This is called a creation unit. This is the mechanism whereby more ETF shares are created to meet market demand. Receipt of the ETF closes the trader's short position. The trader's activity insures that the market price of an ETF closely matches its NAV. There can be high volume in an ETF without correspondingly high volume in the portfolio stocks as long as supply and demand are balanced and the market price doesn't deviate from the NAV.
Scowcroft has also agreed to assist Tanzanian Royalty in determining
suitable financing options for the exploration and development of its Kigosi Project which recently returned some of the best gold values ever reported from the Lake Victoria Goldfields of Tanzania.
7 years later how's Kigosi coming?
LH Roth really does a lot to earn their money. He responded to the post on Facebook. That is a valuable service that I'm sure shareholders find worth paying for.
They surely don't spend it on the TRX website. But I'm sure Sinclair rides piggy back on TRX's telecom/internet and IT equipment to produce BSMineset.
For the quarter ended May 31st, TRX spent $66,564 on "shareholder information". What did shareholders get for that, 2 press releases. A press release costs maybe $1,000 depending on how many outlets it is distributed to. For the 9 months ended May 31st, TRX spent $247,219 on shareholder information costs. That is almost as much a they spend on director's fees and office and general expenses.
Shareholders should be curious about where this money goes. LH Roth Investor relations is feeding at the trough. As is this clown, who claims to be a family friend of Sinclair, Jonathan Mergott (LinkedIn)
Title: Portfolio Manager and Consultant Demographic info: Greater New York City Area | Financial Services Current: Investor Relations Consultant at LH Roth Investor Relations, Vice. Is money funneled to BillD to run the Comet Gold board? Does Sinclair expense his information sessions through this line item? How much did TRX pay Giancarlo, the son-in-law to produce the drone video and the annual meeting video?
Coyote, Sinclair never put his wealth into the company. He acted like an investment bank. He took some risk and bought blocks of shares and then sold them over time to reduce the market impact. Tom Woolman is complicit in the scam. Not only did he run the propaganda board but he was paid enormous amounts of money to do scientific studies of dubious value that he isn't qualified to do anyway. The Snow Report was done by a clown who the SEC previously found " By virtue of the conduct described above, EEI willfully violated and Snow caused and willfully aided and abetted violations of Section 206(2) of the Advisers Act. Section 206(2) prohibits an investment adviser from engaging in any transaction, practice, or course of business which operates as a fraud or deceit upon any client or prospective client." Sinclair used the board to disseminate that piece and to intimate that CG participants are privy to non-public information. What he really does is funnel selective disclosures which would be a violation of Reg. FD is TRX were an American company.
He must be healed. He typed a whooping 57 words of truly insightful commentary on BSMineset today. Good looking out. I can't believe how selfless he is that he devotes so much time and effort to educating people about what is going on in the world. Is that even enough words for a tweet?
The Chinese got good terms and didn't spend any money. It is what is known as a free call. Nickel tanked and they walked. Sinclair likes to give free options away. I think he believes that shareholders only pay attention to the headline and can't figure out the economic cost. Anyway the jig is up. His professor/art collector friend doesn't bring anything to the table. He got a free option too. A 5% rally is only 12 cents, you may as well just sell.
Jim has injured his hand and will be taking a few days off responding to emails to help with the recovery. He will reply as soon as he is able to do so.
Is this the reason that the Allied Gold JV agreement hasn't been signed? What happened? Did Mr. Beef bite the hand that feeds him? Did Mr. Sinclair develop carpal tunnel syndrome typing one sentence responses to CIGA comments on JSBullSheet? Will he be healed in time to hold a microphone at the Nashville Q&A? Is Kahama in charge while he is incapacitated? CIGAs and Comedy Clowns everywhere need to know.
Nobody with any brain wave activity would accumulate this stock. I will eventually be long 1 share just to put the certificate on my trophy wall.
South Surrey BC
With below average high temperatures and above average precipitation at the headquarters in Sharon, CT, Admiral Sinclair has not launched the amphibicar. He is optimistic that he will have the opportunity before Labor Day. Instead, Chairman Sinclair has spent the summer focusing on understanding the implications of the events in the Ukraine for the business operations of Tanzanian Royalty Exploration. The disruption of an economy that contributes 0.29% of world GDP has implications for the price of gold. While he has yet to discover any direct linkage to TRX, he continues to follow the situation because it makes for a great distraction.
It has been 6 months since anyone at Allied Gold has returned a phone call. Our administrative assistant isn't sure whether the tone she hears when she calls is a fast busy signal or an international ring tone. Either way we are confident that the JV agreement is on track.
The crew at Buckreef continues to make progress. Due to the intermittent electrical service, Giancarlo has been unable to get a full charge on the drone so there is no video at this time. Kaniki and Kahama have been dispatched from Dar Es Salam to investigate. Kaniki thinks that the mini-crusher, aka Margarita Machine, is drawing too much power. The results of the test batches have been fabulous with yields of 33.8 ounces per liter. They will head up to Kabanga to test Pina Coladas and Daiquiris. Commercial production will commence shortly. They await the arrival of Uli Rath for the ceremonial first pour.
Any competent auditor is going to ask that question. With just 1 quarter worth of cash, no royalty partners, no license for Kigosi, an enormous amount of capital required to mine Buckreef, and an inability to raise any debt financing over the last 3 years, the answer is a resounding no! Is a $20+ million impairment charge in the cards? You betcha!
Maybe $2.1 million of cash will be on the balance sheet at the end of the month. Burn rate has been $2.1 million per quarter. If they stop everything on the ground in Tanzania, they can probably get it down to around $1.2 million per quarter. Dr. Relbochat gives the patient less than 6 months to live. Hope Grandma Trixie doesn't ruin Christmas for Santa by dying during the holidays.
Mr. Beef, the Chief Canine Officer, is far more effective in his role than all of his management cohort, Kanicki, Kahama and Van T combine.
Looks like the legend chose the last option and posted a picture of a dog. This is a true victory for shareholders.