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Sidney Resources Corp (PK)

Sidney Resources Corp (PK) (SDRC)

0.26555
-0.00445
(-1.65%)
Cerrado 10 Enero 3:00PM

Herramientas de nivel profesional para inversores individuales.

SDRC Noticias

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SDRC Finanzas

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SDRC Discussion

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mr34 mr34 2 horas hace
Another week goes by and silence from the company and even more concerning is the silence from shareholders, how much longer can this go on? where are we in the new "5 week" window that the CEO has promised????????????????????
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mr34 mr34 6 horas hace
Just buying themselves more time while the big bully cheerleader is back to showing pictures of rock samples LOL, I guess its better than Kevin Cox emojis!!!!
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gitreal gitreal 23 horas hace
A new special furnace for platinum? Why do investors put up with this? How about a single, credible assay that shows they have a molecule of platinum on their properties?

https://x.com/SeanRaeZalewski/status/1877095314185925025
Sean-Rae Zalewski
@SeanRaeZalewski
·
Jan 8
Melts 8 kg of platinum in. 8 minutes. Unit and exhaust system

Show replies
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thedroetdude thedroetdude 4 días hace
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mr34 mr34 5 días hace
It’s extremely concerning that the CEO is publicly admitting that he doesn’t know why “the street” isn’t catching on to this “story”. Expectations have been raised ever since he started talking Dividends and still nothing to show for it.
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Milwaukeemom Milwaukeemom 5 días hace
What’s the advantage for the people that bought the preferred stock?
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Yachts Yachts 1 semana hace
Well, it was an interesting year. Let us hope SDRC turns things around and starts actually mining to generate income, which will surely increase the stock price. Anything less will be a great disappointment to me.
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gitreal gitreal 1 semana hace
the “street”

The "street" does not accept fairy tales in place of facts. Not the street where the adults live, anyway.
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mr34 mr34 1 semana hace
“As an investor in the company with both my own capital and having guided me by friends to the company I too am frustrated with the “street” not seeing the value of the company where I believe it should be. “

Is this some sort of sick joke? Whose job is it to manage the stock price and gain investor awareness??? This ceo needs to look in the mirror because we are all frustrated. Why am I the only one asking these questions?
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dave gruel dave gruel 1 semana hace
the curse of Sunnyland's green FOMO arrow
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mr34 mr34 1 semana hace
“Tax loss selling” is the latest excuse
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gitreal gitreal 2 semanas hace
Fraud? How about spending an entire year promoting that their mine(s) contained PGMs, iridium, rhodium, etc. And after a year, not a single certified assay result to confirm it.

That's fraud.

Spending money on other things than what they raised it for would be harder to prove as fraud (because business plans change). Of course, if the money ended up in the bank accounts of certain undeserving individuals, or things were bought that had nothing to do with the business.....that would be fraud. Not saying that happened, but......
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Yachts Yachts 2 semanas hace
I'm not a lawyer, but surely if a company raises funds for a specific project and fails to spend those funds on said project, that constitutes fraud. Would not the Board and management team then be guilty of fraud and thus be liable to the shareholders?
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mr34 mr34 2 semanas hace
Sunnyland a safe space ? If you want to see in real time why I and many others have left that toxic place go look at the concerned shareholder who innocently made a comment that maybe everyone chill with the pie in the sky valuation talk until idk maybe this company actually proves themselves with something material, next thing you know another big promoter (and the biggest bully) comes to the defense and talks down to him like he is worthless, he has done this to me and others in the past as well. And if you want to know about his credibility just ask him how CAVR is doing he was a top pumper there as well .
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mr34 mr34 2 semanas hace
Yep now he pivoted to Revenue and sec reporting is most important funny how that works when some of us here speak up . still silence from the company especially regarding dividend that was promised to “the street”
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dave gruel dave gruel 2 semanas hace
FOMO arrow is back, sort of like inverse Cramer usually predicts red days ahead.

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gitreal gitreal 2 semanas hace
a processing facility can generate revenue for this company beyond just feeding it with SDRC's ores. SDRC can contract out its use to other companies and producers in the region.

So many of the shady OTC companies that I have examined over the years promote this idea. Why? Because it justifies the toxic debt, and it deflects from the failure of the company to prove out its own reserves.

And when the money is raised.... surprise! No ore is mined, no state of the art facility is built, and there are no other "producers" in the area that seem to be interested. So where'd the money go?

Heard this story before, so many times.
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surrealistrader surrealistrader 2 semanas hace
To answer your question, it's basically a risk-free transaction for Scherrer, who not only receives the shares in exchange for the cash (a particular class of shares with particularly opaque and risk-averse terms,) but whose construction company is set to be the recipient of the funds he is contributing. Also, as said earlier, (further indicating favoritism) it "directly benefits the most influential shareholders of SDRC (The Lelands) who own the land that is being developed, who's interest is to keep this stock in a sustained cycle of buyer interest while the company's stock equity transactions funnel money to them and their association via the financing of development of the assets it owns and controls."

As an alternative to pursuing mineral reserves, a processing facility can generate revenue for this company beyond just feeding it with SDRC's ores. SDRC can contract out its use to other companies and producers in the region. I believe the motivation taking precedent here is to grow the value of the district, its economy, and the local real estate. Despite it being somewhat messed up from a public mining stock perspective, everyone on board with it seems to have accepted that proving the economic feasibility of whats underground is not the preferred way to achieve that end.
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gitreal gitreal 2 semanas hace
8 million dollars (in exchange for preferred stock) in order for the corporation to build a state of the art metallurgical facility

WHY??

A company has no use for a state of the art metallurgical facility if that company has no reserves, almost no drilling (they drilled one hole?), no technical reports by 3rd Party professionals, no production or sales, and no credible assays.

Instead they have cockamamie stories about PGMs, rhodium, meteoritic origin story, crazy guy pointing his XRF at random rocks and getting truly bizarre results, Homer bucket metallurgy testing, truly whacko mineral valuations, and then there's always that shady promotor.......Sunny! What a clown show......

How much longer can they pretend to be a serious exploration/mining company? Not long, IMO.
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surrealistrader surrealistrader 2 semanas hace
The Lucky Ben lease is expiring end of 2024.

Basically everyone involved in this stock seems to perceive in some way that "things are coming to a T" with this stock. To begin to explain the underlying reasons of why this is, I think we need to turn our attention to a major valuation-related decision that's about to be made concerning the land Sidney Resources operates on.

To preface, all the core land that SDRC is developing are old patented mining claims owned by the Lelands; the current largest shareholders in SDRC. SDRC pays the Lelands (in cash and in shares) to lease and to use the land. As part of this agreement, SDRC develops said land: accessibility, infrastructure, permitting and building of roads, enhances safety, pushes deeper underground, constructs buildings.... and most pertinently and recently, a state of the art metallurgical processing facility is planned and financed. These activities add value to the Lelands' property beyond just for the purpose of fulfilling SDRC's output capacity or their task of delineating a mineral resource.

This arrangement has presented some good things for this company and shareholders: The Lelands are shareholders like you and me, and as such, they also have a vested interest in the company's success. So far, they have offered SDRC seemingly favorable lease terms (in exchange for cash and an, albeit enormous, cache of restricted stock) and additional support to ensure this project's success. This less capital-intensive arrangement frees up funds for other operational needs.

You may have gathered already that I, however, believe there is a possible conflict of interest to be appreciated here. Public mining companies cannot and must not become "married" to properties at such an uncertain stage. Typically these will need to reserve the option of moving on to new projects if exploration or feasibility studies turn out unfavorable. Responsible speculators in this industry must identify what that "go or no go" is for any given project, and plan their entry and exit accordingly.

The problem with SDRC, however, is that current management has indeed married themselves to this property. Under no circumstances will they move on from the Lucky Ben and their agenda in the broader Warren district, however found to be favorable or unfavorable. So while SDRC, with support from the growing bid and bullish investor outlook, has gone so far as to develop the land's accessibility and infrastructure, but has not done anything to pursue a make or break situation for the mineral resource over the longer term. This public mining company, bizarrely, and in line with an unfortunately common theme, has taken to managing investor expectations more diligently than the pursuit of reserves. The life of the mine economics remains obscured in mystery, and I unfortunately believe this is the way they like it. Sure, with Groundhog as their mining contractor, they drilled in order to "confirm the continuation of the narrow vein gold system," but they only drilled as far to determine that, and it did little to confirm or dis-confirm the economic feasibility. If anything, it came up as a dud - since we got a limited picture and recommendation to discontinue further drilling. We still don't have the guaranteed profitability legit mining companies typically insist on before development, construction, and production via the specifically defined and situationally used term "reserves." The current management, led by the Lelands, have prevented the company from pursuing (or perhaps releasing) information that might disqualify this property as a profitable mining endeavor, and because drilling has the potential to do that, management have opted for alternative ways to create investor interest. In many ways, this company has resorted to classic OTC-type promotion tactics, teasing and withholding material information for long periods of time, novel and borderline believable geological backdrops, insane and badly calculated valuations, all of which have only resulted in a polarization of their investor audience, and caused stress and damage to their brand.

To add further weight to this particular intrigue, as of recently, a board-member and "investor" by the name of Jim Scherrer gave the company somewhere in the range of 8 million dollars (in exchange for preferred stock) in order for the corporation to build a state of the art metallurgical facility on the Leland's land, assuming that this same Jim Scherrer's construction company will be the recipient of these funds as the contractor that will handle this very project. I demonstrated in a prior post that not only is this is a highly suspect circular transaction, may indicate favoritism, an effort to obscure the source of funds, takes advantage of a vaguely defined and disclosed class of shares in the corporation, and a possible money laundering scheme, but it directly benefits the most influential shareholders of SDRC who own the land that is being developed, who's interest is to keep this stock in a sustained cycle of buyer interest while the company's stock equity transactions funnel money to them and their association via the financing of development of the assets it owns and controls.

So lets see how this lease agreement lines up valuation-wise and with the current time line.

From most recent SDRC quarterly filing on OTCMarkets.com
"Sidney Resources paid $60,000.00 for a five-year lease with an option to renew the lease for 5 additional years. The Board of Directors has signed a lease amendment extending the lease for the Lucky Ben Properties an additional 5 years beyond when the lease that was scheduled to expire at the end of 2019 and with the option to renew the lease an additional 5 years as long as work on the properties remains active. Under the terms of the Lease Amendment, Lessor will be issued 20,000,000 shares of restricted common stock as payment for the lease amendment. Under the terms of the new lease amendment, Sidney Resources Corporation has the option to continue to lease the properties for an indefinite period of time with the condition that development work continues each year."

At the end of this year, 2024, five years from the end of 2019, this lease agreement is to be renewed. A major valuation decision is about to take place. We may expect this lease agreement to be amended at the end of this year just as it was at the end of 2019. How will the work of the last 5 years and its implied change in valuation of the Lucky Ben be reflected in this leases renewal? Will new lease terms be favorable and transparently negotiated? Will it perhaps be unfairly valued, indicating the favoritism we have already observed, and the outsized influence of the Lelands on this company's decisions? What due diligence have the involved parties completed in order to "mark these assets to the market" independently in order to ensure fairness? Will valuation depart from reality like we have seen with the mineral assets advertised, and if so, what will that mean for the increasingly noticeable parallel trend of diverging interests between large and small shareholders?

One thing we can all be sure of is that questions are mounting much faster than answers.
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mr34 mr34 2 semanas hace
Unfortunately yes until one of these companies actually proves themselves. Same handful of cheerleaders never mentioning the opportunity risk or risk management holding these illiquid companies for years on end. Like sdrc just pie in the sky PTs like brgc going to go 3000% now lol. For at least two years the leader has been screaming “Sdrc dollars very soon” while the CEO misleads investors about a dividend. Scroll down and read the objective analysis that if was said in the other room would get you chastised .
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Yachts Yachts 2 semanas hace
On the other board they are heavily promoting BRGC and XTPT is this more SDRC type promotion?
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gitreal gitreal 2 semanas hace
IF I were a "big shareholder" with more than say, $25K, into this, my first step would be to hire a real, 3rd party mining engineer or geologist to go over the company technical information. Wouldn't take much time because there is almost zero technical reporting to review....it is mostly PRs and social media posts. Ask the engineer or geologist for an opinion letter regarding the company's claims about grades, tonnage, and geology (meteorite impact theory). And especially about the evidence they have presented about PGMS....which is zilch. And those truly wacko valuation estimates they've come out with. A day of review, and an opinion letter might cost you $1500.

Then, if the opinion does not come back favorable (and it won't, IMO), think about retaining an attorney. And figure out if you want to pursue it further....to the State AG's office, for instance.

And save every email, every mailer, anything related to this company promoting to you. Not to mention all the social media posts you can screen-shot, especially if there were DM's behind the scenes from company management or promoters.
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mr34 mr34 2 semanas hace
Regarding Legal, Unfortunately I was reminded by a big investor yesterday that all discord and twitter communication is being saved to a backup hard drive “just in case”. This goes for the lead promoter and the company itself. After the bold comments made on twitter a few days ago from CEO he really opened himself up. I hope and don’t think it should come to the worst possible outcome here but we do need to protect ourselves.
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mr34 mr34 2 semanas hace
I talked to a couple long time shareholders over the last few days and they are at their wits end regarding the eye opening comments on this board, twitter, and yes the circle jerk known as Sunnyland. The lengths the usual cheerleaders have gone to defend a young hot shot CEO is astounding. One amateur of the group responding to the divvy drama even had the balls to say he’s a “rookie OTC CEO”, oh really? How many years is he allowed to be considered a rookie? Another big time amateur with the daily “zero risk” commentary is completely out of his league and gets no pushback from the top promoters, almost like they are secretly cheering him on even though he sounds like an 8 year old. For a company that has not actually proven anything material yet and still hasn’t learned how to manage their damn stock price they sure get a pass from everyone and their and mother , will anybody else get the damn courage to speak up?
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gitreal gitreal 2 semanas hace
If that was a statement from a year or two ago, I can understand labeling Sydney as "speculation". IMO, Sydney was pretty shaky even then, with their complete lack of exploration, their magic laser mining stuff, and so on. But the second that PGMs and rhodium and meteorites came into it......no question at all, IMO, that it falls into the "scam" category. I still wonder why they felt the need to introduce that kind of stuff. Was the gold and silver just not exciting their investors enough? Worried that the lack of credible exploration and real assays was causing investors to lose interest?
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gitreal gitreal 2 semanas hace
He could do something about it, since it is dragging his "reputation" as a knowledgeable mining guy through the mud. Using "hedging" language is not forceful enough. Maybe he is worried about legal action if he says anything stronger. Do Sean Rae and/or Sunny commonly make legal threats?
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surrealistrader surrealistrader 2 semanas hace
That was SDRC quoting him.

Like I said earlier, whenever he would talk about SDRC after that, he would use hedging language. SDRC took his words out of the context of a private conversation, and the same tidbit has been reproduced multiple times since.

Don Durrett - goldstockdata.com
@DonDurrett
My valuations are estimates based many assumptions. I did buy the Sidney, but I consider it a speculation bet, as I do with all gold mining stocks. These bets are never sure things, and development plays will break your heart much more often that make you rich.

I think he needs to spend some more time. you cant take for granted that reserves are measured properly, or a valuation based on 3 opt (optionality) is possible because the regulatory oversight isn't in place with these OTC pinks like with other stocks on tsx, nyse etc. He needs to spend more time with this one and realize the mistake he made. Lazy lazy.
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gitreal gitreal 2 semanas hace
That's pretty disgraceful. Does he not want to be taken seriously as someone knowledgeable about the mining industry? He even has the #pgm tag....

Or was that a SDRC post just quoting him and they added the #pgm tag?
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surrealistrader surrealistrader 2 semanas hace
I am disappointed in Don Durrett for allowing himself to be quoted in such a way as he did. I was baffled when it happened, and still am, even if all he was basing his words on were "assumptions and hypotheticals." He should have known that they would spin his words and make him into a quoted stooge.

@DonDurrett
Jun 9 2022

Really, you think pink-listed stocks are fine? Most investors don't trust them (I don't). They should know that. What's so difficult about submitting their financials to the SEC?

We're not talking about getting listed on the NYSE. We're talking about OTCQB.

I've had my website for 12 years. They are the only US-based gold miner with a market cap over $20M that only trades in the pinks.

It's also rare for companies of their size not to have a company presentation on their website.

My takeaway: they are not shareholder-friendly and don't care about retail investors.

Sean worked on him in private and then this happened:

$SDRC : From @DonDurrett of goldstockdata.com/

"Yesterday, I valued your company at $1.5B at $3K gold."

"Today, I increased it to $2B. I’ve seen several 100K producers valued at around $1.2B at current gold prices. So, a 100K producer at $1.5B is possible at $3K gold. To get to $2B, you will likely have to increase production to 125K oz, although at 3 opt, it’s possible at 100K production. It would be unprecedented."

#Investment #Commentary #OpinionPiece #Gold #Silver #PGMs #Idaho #Producer #Mining #Stocks

Who knows what (the hell) happened, who paid who, who signed what, what drugs were administered, etc.
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gitreal gitreal 2 semanas hace
If this Don Durrett guy thinks he's an expert in gold and silver mining, and is telling his loyal followers that SDRC is risky but there's is a chance SDRC is legit.....he's an idiot. The rhodium thing is the immediate disqualifier along with the meteorite nonsense. But the stockpile and concentrate sampling with very "imaginative math", and the lack of outside expertise and technical reports, no legit assays, use of suspect labs, the outlandish valuations, etc. also make SDRC extremely suspect.

Oh, and the involvement of Sunnyland....that's a HUGE RED FLAG. Every one of the "mining" company stocks he promotes appears to be a scam to some degree. Every one.
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surrealistrader surrealistrader 2 semanas hace
If you think names, emails, addresses are all that's needed....

If you think you know everything you need to know already in order to put your faith in management, or to otherwise make a sound investment decision... if such as complete a list of names, emails, and addresses you've collected of people associated with Sidney Resources give you the assurance that you're investing in a transparent, materially thorough, veracious, professional, and proficient public mining company, then you are not only indeed gullible and naive, but you have no imagination.

If the promise to up-list to TXSE upon yet another deadline wasn't so blatantly empty, I would look forward to the SEC audit and reporting schedule that would be necessitated by it. I guarantee there's a reason SDRC has foregone such a process so far and it definitely wasn't cost. If I were you, I'd use my head and rethink what you just said; This is the OTC. No amount of names, emails, and addresses can fix the degree to which investors have actually been operating with material omissions and misrepresentations to date. Some of these material omissions are even celebrated by bulls as an edge (because you can follow the advice of the insiders who do have that info, and profit.) Anybody with any experience in investing in public companies in legit mining (let alone those who would care enough to give this company the time of day) will tell you how specific the list of things are that would actually make this mineral project transparent, competently developed, and an attractive speculation candidate in the interest of necessarily eliminating uncertainty. Speculation SHOULD be the systematic elimination of uncertainties, and the fact that not only some bulls have accepted that certain uncertainties are not important enough for the company's success to bother eliminating, but the fact that some even insist that there are no uncertainties (or risks) to eliminate is just plain insane.

Even our favorite mining stock commentator Don Durrett, after being spoon-fed non-public info by our CEO several months ago, used hedging language when referring to SDRC on Twitter: "These bets are never sure things, and are more likely to break your heart than make you rich." ...and that's probably even after assuming SDRC knows what they're interested in underground and are so called "doing it right."
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WizardDomain54 WizardDomain54 2 semanas hace
RE: gitreal
How about re-name to get real, we all know everyone associated with Sidney Resources, names, eMail, address, etc.
but we don't know anything about non-transparent gitreal, why do you suppose? Merry Christmas to all.
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WizardDomain54 WizardDomain54 2 semanas hace
Mr. gitreal, give us your take on the drones over New Jersey and our Sidney mines.
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gitreal gitreal 2 semanas hace
I'm here just to mess with the gullible and naive.....like you. At least some are finally seeing the red flags and waking up.
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WizardDomain54 WizardDomain54 2 semanas hace
I really don't understand why gitreal is even here, unless he is bored and rather post as opposed to having a life.
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gitreal gitreal 2 semanas hace
It seems the promotion machine has upped the ante considerably since then.

Remember their value estimates of $50 million a while back? And now there are estimates of $212 billion?

Why not just round up to a $trillion?
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mr34 mr34 2 semanas hace
This is incredible! Forgotten about by everyone. The cult is on the defense this morning with questions and concerns, are things starting to unravel?
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surrealistrader surrealistrader 2 semanas hace
"It will be a very Merry Christmas in 24'"

... said Sean Rae Zalewski to conclude this PR from 1 year ago:

https://www.nasdaq .com/press-release/sidney-resources-corporation-reports-assay-results-and-a-comprehensive-evaluation-of

It seems the promotion machine has upped the ante considerably since then. The "historical stockpiles" now show higher grades and a many-fold increase in the quantity of material ready for processing. If you ask me, it was over the top then, and it is especially over the top now.

The above PR was the last time sampling integrity was talked about or addressed. For the needs of a public mining company, it's improper to use Steve Dobson for this purpose. Steve Dobson has no accreditation and isn't a true independent third party. There are conflicts of interest in using him to "uphold the sampling process" as an unaccredited, unregistered, employee of the mining contractor.

The bonanza-grade century+ old "tailings" story is borderline believable and is clearly an alternative to a dead-end exploration campaign. The meteorite-derived, uniquely rhodium-dominant, Platinum Group Metals deposit that supposedly fused with all the in situ gold is the same kind of thing; without comparable and not reproducible by any economic mining operation in documented history, let alone in any geological study of the Idaho Batholoth. These are likely to backfire for this company when subject to scrutiny. The promise to list on a stock exchange said to be more stringent than NYSE or Nasdaq one year from now is at best empty. It sure feels like things are reaching a desperate "T" with this company.

Analytical results are too often curated from larger undisclosed data sets, and crucial material information about them infamously withheld. Handheld XRF results come with their own list of evident abuses, and should not be cited in any way shape or form unless for the purpose of reproduction via analytical reporting from a reputable lab.

Who knows where all these piles (which over the past year have multiplied many-fold in size, and are said to be found in even higher grades since found initially) actually came from, if they are actually represented correctly at all. We have seen other examples of the OTC shameless show us pictures of bags of alluvial sands, including their unbelievable mineral profiles advertised, purchased and delivered to remote locations. Is this another one of these? (https://x .com/IGEX_Official/status/1524765895175942145)

Dividends? Without a formal measurement of what's underground, nor a reputable demonstration of economic feasibility, no cut off grades nor reserves, we have no basis for a profitable mining operation. Nevertheless, the company has gone full steam ahead with the investment in construction feigning such crucial and due diligence. Cash for equity financings, when superimposed upon purchases by the corporation, show signs of favoritism, circular transactions, and perhaps money laundering. Financial professionals and experienced financiers in mining, without the indication otherwise they have come to expect by observing certain standards upheld in this industry, would see an investment here as risky, supporting a necessarily capital-destructive enterprise, operating with significant material omissions and misrepresentations, and showing other signs of abuse.

Did you actually think you were getting a cash distribution?
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mr34 mr34 3 semanas hace
Nice to see a handful of the cult members lashing out tonight about the promised divvy , but will it matter ?
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dave gruel dave gruel 3 semanas hace
time to get those $.20 bids loaded, then when it runs back to .28-30's unload them again. nice for it to take some time, avoids wash sale issues.
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mr34 mr34 3 semanas hace
Another nasty day here, what happened to the golden cross?? I can see .20 coming soon. Also word is Mike Irish landed another gig, so it wasn’t because of age ??
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gitreal gitreal 3 semanas hace
supported and materially participated in

What does that mean? There were other investors in addition to the Scherrers?

Do you think SDRC really received $8 million?
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mr34 mr34 3 semanas hace
Not sure how random isn’t half the board from Wisconsin??
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dave gruel dave gruel 3 semanas hace
fascinating. i was curious why they'd hire some random construction company from Wisconsin who (in reviewing their website) have zero experience with building the type of facility SDRC needs. Different state, different geography, different rules/problems. i know Jim has something like 1M shares per previous disclosures, but the laundering angle actually (unfortunately) makes some sense. his money (surely there was at least due diligence on the part of the bank, right?) goes in, gets spent on feasibility studies, expensive/overcharged buildings and comes out the other end as business income. share price goes up-- profit. share price doesn't go up-- gets his money back. it's basically a free lotto ticket.

FOMO arrow is not FOMO-ing. >:(
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gitreal gitreal 3 semanas hace
Yes, shenanigans going on with preferred shares, but I doubt SDRC actually received $8 million.

Nothing they say can be trusted.
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surrealistrader surrealistrader 3 semanas hace
Will Jim Scherrer get the construction contract?

Is that a given? If anyone is puzzled about how businesses like SDRC, without dedicating themselves to proper mineral asset development, can make money for insiders and board members, even while "never unrestricting or selling their shares," this is how they do it.

If Jim Scherrer, who owns the construction business likely to be used for the construction of the planned facility is receiving preferred shares while his company is also a recipient of substantial payments for construction services, it creates a potential conflict of interest. If Jim Scherrer's construction company, or Western Frontier, or equipment suppliers, or Red Beryl Mining Company, or any other contractor can charge inflated prices for its services, it could serve as a mechanism to funnel money back to the owner (who also holds the shares), effectively laundering funds.

I would be on the lookout for things like overvaluation of services with SDRC. If the decision to award the construction contract lacks competitive bidding or transparency, or the terms of the share raise are anything less than fully disclosed, it raise concerns about favoritism, undue influence, and, perhaps, money laundering.

The source of the $8 million cash used to purchase the preferred shares should be scrutinized. If the construction company reinvests any portion of the money received from the project back into the public company (e.g., by purchasing additional shares or making loans), it could indicate circular transactions designed to obscure the origins of funds. If the board-member, providing services has significant influence over the public company or its decision-making process, it could indicate an arrangement where funds are being moved under the guise of legitimate business activities.

You guys have a clusterfuck nightmare of an SEC audit ahead of you if you're seriously targeting an uplist to a stock exchange said to be more stringent than NYSE or Nasdaq. Start ASAP because 13 months is not enough time. Another one of Sean's promised deadlines is just about dead on arrival.
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surrealistrader surrealistrader 3 semanas hace
This round of funding was supported and materially participated in by Board of Directors Members Sue Maas and Jim Scherrer.

The 8 million cash was received in exchange for Preferred Shares. Obviously, the terms of these are more favorable than the common share class. What was expressed to me by Sean albeit anecdotally and never released officially, was that these shares guarantee multi-fold payout in the event of a sale of the property or a buyout. In other words, there are non-publicly defined terms "upon the dissolution of, or upon any distribution of the assets of, the Corporation." What has been released publicly was that these are restricted for 2 years and can be converted to restricted common shares at any time (without detailing any further conversion rights like 100x or 1000x preferred to common as we see with other OTC stocks.) The company filed notice that they have amended their articles of incorporation earlier this month in order to increase the authorized share counts of both classes.

In previous quarterly filings, here is what is said about the preferred share class:

For preferred stock, describe the dividend, voting, conversion, and liquidation rights as well as redemption or sinking fund provisions.

The Serial Preferred Stock may be issued, from time to time, in one or more series with such distinctive serial designations as the Board of Directors may establish and such Serial Preferred Stock: (a) may have such voting powers, full or limited, or may be without voting powers; (b) may be subject to redemption at such time or times and at such prices; (c) may be entitled to receive dividends (which may be cumulative or non-cumulative) at such rate or rates, on such conditions, and at such times and payable in preference to, or in such relation to, the dividends payable on any other class or classes or series of stock; (d) may have such rights upon the dissolution of, or upon any distribution of the assets of, the Corporation; (e) may be made convertible into, or exchangeable for, shares of any other class or classes or of any other series of the same or any other class or classes of stock of the Corporation, at such price or prices or at such rates of exchange, and with such adjustments; and (f) shall have such other relative, participating, optional or special rights, qualifications, limitations or restrictions thereof, all as shall hereafter be stated and expressed in the resolution or resolutions providing for Directors pursuant to the authority to do so which is hereby vested in the Board.

So basically, the terms of each of these distinctive serial designations can be different, and are always defined in private by the Board of Directors at the time of issuance. SDRC has taken a noticeable step back in transparency over the past several years, and the details concerning their share structure is only one example. I'm sure other shareholders besides me would like to see these defined in full and released officially.
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gitreal gitreal 3 semanas hace

Sean-Rae Zalewski
@SeanRaeZalewski
$SDRC

Concern number 2 that came up during the call.

"was the over 8 million dollars in commitments as stated by the PR just committed or was it deposited?"

Over $8 million of the committed investments from investors have made their deposits into our accounts.

Does anybody believe this?

Who's this investor with so much cash, and so little sense? Has anybody been named?
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surrealistrader surrealistrader 3 semanas hace
I call it the FOMO arrow.

It's the same arrow that's been saved in all his TradingView charts for many years now. He just drags it to the right every time he wants to make a new chart post on Twitter. People see the arrow, they FOMO. That's all.
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