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togi
Member
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Posted: Sun Apr 20th, 2008 08:39 pm |
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Varok,
Thank you very much for the reply.It is a great help
The comments below are from the i-hub board.
Chris –
The notes are held by friendly investors and we are in the process of renegotiating the terms. I hope to complete this task before the end of the month.
Regards,
Rob Faber
480-603-5151
Mr. Faber -
Are you able to elaborate on the default loans indicated in the Form 10KSB? Specifically, what is to stop those holders of notes backed by Goldspring's property from acquiring now that the Hartford has been shown to contain gold and silver mineralization?
Last edited on Sun Apr 20th, 2008 08:44 pm by togi
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Posted: Sun Apr 20th, 2008 05:11 pm |
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Hi Togi,
Well,took a look in detail and found on the surface the company has an interesting program with great locations..As a commodity concern, especially gold and silver moving up enlight of the current climate, this company should do well.The results from exploratory drilling results also appear to bring in good results.
However,I am concerned about the huge share structure.. As of 4/15/08 the O/S is 3,014,176,109 A/S 3,950,000,000 is certainly going to be a problem.From their filings they had on April 3rd 2,990,552,847 O/S..So in 11 days they have added 24 million shares..In short, the company is diluting.
The difference between the two is just under 1 billion share left before 1 of 2 options.
Currently the MC is $51 million at the close of .017 share price Friday.
A positive note is the company is current in their filings..
I would keep an eye on the share structure and watch for any continued diluting.
I would expect continued Equity type financing as the latest was Dec.07.
This part taken from the current filings may be of concern.
" Outstanding convertible securities and warrants may result in substantial dilution.
"At December 31, 2007, we had outstanding 2,743,508,248 shares of common stock. In addition, we had outstanding convertible notes and various common stock purchase warrants. At December 31, 2007, these notes and warrants were convertible into or exercisable for a total of approximately 1.164 billion additional shares of our common stock, subject to further anti-dilution provisions. "
If this keeps up,it will certainly get close to the A/S and then I would expect either a buyback or R/S..I'm only saying this as a remedy,but doubt this and probably a R/S may come this year..The latter is most likely near the close of 2008 considering the balance left on the CD.
I would wait on a more favorable entry.
Have a good day
Varok
Last edited on Sun Apr 20th, 2008 05:14 pm by Admin
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togi
Member
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Posted: Wed Apr 16th, 2008 07:20 pm |
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GoldSpring Announces Additional Assay Results
GOLD HILL, Nev., April 16, 2008 /PRNewswire-FirstCall via COMTEX News Network/ --
GoldSpring, Inc. (OTC Bulletin Board: GSPG) announced today that it has received additional positive third-party assay results for exploratory drill holes 2008-11, 2008-12 and 2008-13. These drill holes are a continuation of the exploratory drilling in and around the Hartford Complex.
Jim Golden, GoldSpring's Chief Operating Officer, stated, "Our drilling program and procedures are conducted in accordance with U.S. industry mining standards and the process is controlled by highly experienced professionals. This attention to detail should allow us to complete a comprehensive mine plan and reserve report by late spring. Our 33 exploratory holes were drilled 100 feet apart from the north to south, and approximately 70 feet apart from east to west. The ore body continues to grow in both surface area and depth, and there are indications of higher grade underground gold and silver deposits. We are pleased with the strong exploratory drilling results at the Hartford Complex. "
-- Drill Hole 2008-11 encountered low grade precious metals from ten feet
to a depth of 25 feet, with precious metals value of 0.054 ounce per
ton gold and 1.74 ounces per ton silver, followed by 205' (115'-320')
of 0.118 Au & 1.32 opt Ag, and 40' (325'-365') of 0.029 Au & 0.32 opt
Ag The values are highlighted by 215'-230' of 0.534 opt Au & 0.87 opt
Ag and 250'-305' of 0.261 opt Au & 3.53 opt Ag.
-- Drill Hole 2008-12 contained 10' (290'-300') of 0.088 Au and 0.07 opt
Ag, followed by 150' (385'-535') of 0.047 Au & 0.07 opt Ag, and 200'
(555'-755') of 0.032 Au & 0.25 opt Ag. This hole bottomed in ore and
is the most northeasterly hole drilled to date.
-- Drill Hole 2008-13 encountered 70' (60'-130') of 0.031 opt Au & 0.50
opt Ag includes a large stoped area contained within the main ore zone.
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Summary Exploratory Drilling Results Table
The Company has initiated geologic and engineering efforts with the objective of providing a report on the mineral resource outlined in the on-going exploration program coupled with historical exploration data.
To date, the Company's phase one drilling program results are summarized in the table below.
Drill Hole Intercept in Gold Grade Silver Grade
(Date and Number) Feet (ounces per ton Au) (ounces per ton Ag)
2008-13 60'-130' 0.031 0.50
2008-12 290'-300' 0.088 0.07
385'-535' 0.047 0.07
555'-755' 0.032 0.25
2008-11 10'-25' 0.054 1.74
115'-320' 0.118 1.32
325'-365' 0.029 3.53
2008-10 10'-40' 0.034 0.72
55'-80' 0.109 0.75
210'-225' 0.082 0.08
290'-330' 0.091 0.23
2008-09 0'-70' 0.025 0.34
2008-08 0'-60' 0.012 0.18
445'-460' 0.062 0.14
2008-07 175'-265' 0.043 0.47
285'-350' 0.076 1.28
2008-06 20'-400' 0.109 0.66
2008-05 10'-25' 0.054 1.74
115'-320' 0.118 1.32
325'-350' 0.030 .020
2008-04 40'-55' 0.037 0.17
85'-150' 0.060 1.04
2008-03 15'-185' 0.068 1.5
2008-02 35'-55' 0.029 1.27
120'-130' 0.164 1.19
135'-215' 0.033 0.29
245'-275' 0.037 1.29
275'-325' 0.003 1.71
2008-01 30'-65' 0.038 0.90
120'-265' 0.045 1.27
2007-04 50'-60' 0.006 0.09
2007-03 55'-90' 0.031 0.81
2007-02 160'-275' 0.074 0.69
2007-01 65'-135' 0.052 0.64
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All of the assays referenced herein and the data derived therefrom have been performed and analyzed by American Assay of Reno, Nevada, a laboratory independent of GoldSpring, utilizing industry standard analytical methods.
About GoldSpring, Inc.
GoldSpring, Inc. is a North American precious metals mining company with extensive, contiguous property in the Comstock Lode District and a fully permitted gold and silver mine. In the Company's relatively short history, it secured permits, built an infrastructure and brought the Comstock Lode project into production. Since 2005, the Company has been acquiring additional properties around its Comstock Lode project in northern Nevada, expanding its footprint and creating opportunities for exploration. The Company's objectives are to optimize production, increase reserves through exploration and acquisitions, expand its footprint in the Comstock, and maximize shareholder value.
The Private Securities Litigation Reform Act of 1995 provides a 'safe harbor' for forward-looking statements. Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by GoldSpring) contains statements that are 'forward-looking,' as defined in Section 21E of the Securities Exchange Act, such as statements relating to the future anticipated direction of the high technology and energy industries, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, mining capability and potential contracts. Such forward-looking information involves important risks and uncertainties, which include the risk factors disclosed in our most recent filings with the U.S. Securities and Exchange Commission, that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of GoldSpring. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financial activities, domestic and global economic conditions, changes in federal or state tax laws and market competition factors. These and other factors, which could cause actual results to differ materially, are discussed in more detail in GoldSpring's filings with the Securities and Exchange Commission. Forward- looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as 'anticipate,' 'believe,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'should,' 'will,' and 'would' or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
[/size][/font]
[url=http://www.goldspring.us/][u][color=#0000ff]http://www.goldspring.us[/color][/u][/url]
Robert T. Faber, President and CEO
480.603.5151
775.847.5272
E-mail: rfaber@goldspring.us
SOURCE GoldSpring, Inc.
[url=http://www.goldspring.us/][u][color=#0000ff]http://www.goldspring.us[/color][/u][/url]
Copyright (C) 2008 PR Newswire. All rights |
Last edited on Wed Apr 16th, 2008 08:40 pm by togi
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Posted: Fri Apr 11th, 2008 01:32 pm |
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This issue was brought to us by member TOGI..
Thank you Togi...
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Posted: Fri Apr 11th, 2008 01:31 pm |
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GSPG has had a run recently but it still may have some legs.
GSPG starting this summer "is fully permitted." - Radio Interview
25 year Master Plan to systematically mine w/ Heap Leach
.01 OPT break point of profitability for Au
.03 - .05 OPT common at lower elevations, assayed by 3rd party
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3 to 5 times above min profitability
"processing 1,000,000 tons of mineralized material on an annual basis"
Then there are Bonanzas...
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A bonanza as 1 Oz + of gold Per Ton of ore
4-1-8 PR: "...gold assay grades exceeding 1.5 ounces per ton gold and 1.25 ounces per ton silver" At "Hole 2008-06 260'-265' "
More bonanzas are likely
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33 were discovered in Comstock One.
10% - 15% of Comstock was explored 1859-1920.
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85% - 90% of Lode District has yet to be explored.
Remember Junior High: B X R = P (Base x Rate % = Percentage{portion of a whole})
P = 33 Bonanzas historical fact
R = 15% (to be conservative) historical fact
B = How many Bonanzas are in the entire District before it is played out.
(B x R = P) = (B = P/R) = (B = 33 / 0.15 = 220)
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220 Bonanzas left to be discovered in the Comstock Lode District
GSPG has tied up 80% of the Comstock Lode District
80% of 220 = 176 possible Bonanzas to be discovered with Modern Mining by GoldSpring.
Maybe you want to discount that by 50% thinking that the old miners were very smart.
They were - 750 miles of underground tunnels in 1870 by man, animal and steam power.
Stopped because of hot ground water & unstable soil.
Just the same 50% of 176 possible Bonanzas = 88 Bonanzas possible.
Why wait when shares are pennies on the dollar?
One Bonanza would put GSPG common stock at $1.00 ~ Faber at end of Radio Interview.
SILVER IS ALSO IN THE GROUND
Radio Interview: "~Silver is typically not used in profitability estimates in Comstock mining~" "Silver is a by product" Typical Silver in Comstock Lode District is 4 time more than Gold.
Silver Value is going up since silver resources are dwindling.
Company Facts
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Radio Interview with CEO Faber February 27, 2008
http://www.uploadpedia.com/14OR3Z57CM04/...
SEC 8-K Filing for Investors 3-26-08
GSPG Has 6,000 acres IN THE COMSTOCK NOW including 250 Claims
http://www.sec.gov/Archives/edgar/data/1...
http://www.sec.gov/Archives/edgar/data/1...
Federal SEC Webpage for GSPG
http://www.sec.gov/cgi-bin/browse-edgar?...
Edgar-Online also has List of Filings all the way back to 3-09-2001
http://yahoo.brand.edgar-online.com/defa...
Graphs of Profitable Gold in Soil. Highlight, Copy & Paste into NotePad, columns will line up.
http://messages.finance.yahoo.com/Stocks...
http://messages.finance.yahoo.com/Stocks...
http://messages.finance.yahoo.com/Stocks...
Radio Transcripts
http://messages.finance.yahoo.com/Stocks...
".01 ounces per ton…gold grade cutoff"
http://messages.finance.yahoo.com/Stocks...
http://biz.yahoo.com/prnews/080401/latu1...
http://yahoo.brand.edgar-online.com/defa...
http://www.goldspring.us/p-releases.cfm
http://www.nbmg.unr.edu/comstockscience/...
1876 Comstock book “A History of the Big Bonanza”
http://en.wikipedia.org/wiki/Dan_DeQuill...
Consolation Prize: Google “Nevada Silver Kings”
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