EvanG1615's Profile
EvanG1615's Posts
FYI
http://biz.yahoo.com/e/120926/sfmi8-k.html
Form 8-K for SILVER FALCON MINING, INC.
26-Sep-2012
Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders
The Registrant held its Annual Meeting of Stockholders on September 21, 2012 (the "Annual Meeting"). At the Annual Meeting, our stockholders (i) elected the persons listed below to serve as directors for a term of one year expiring at the 2013 Annual Meeting of Stockholders and until their successors are duly elected and qualified; (ii) approved our 2011 Stock Option Plan; and (iii) ratified the appointment of W.T. Uniack & Co. CPA's P.C. to serve as our independent registered public accounting firm for 2012.
Set forth below are the preliminary voting results for these proposals:
Item 1: The election of four directors for a one-year term expiring at the 2013
Annual Meeting
For Withheld Broker Non-VotesPierre Quilliam 458,153,074 9,962,530 187,808,153
Allan Breitkreuz 459,644,633 8,470,971 187,808,153
Christian Quilliam 454,063,916 14,051,688 187,808,153
Denise Quilliam 447,245,338 20,870,266 187,808,153
Lewis Georges 462,012,100 6,103,504 187,808,153
Thomas Ridenour 461,759,099 6,356,505 187,808,153
Item 2: Approval of 2011 Stock Option Plan
For Against Abstain Broker Non-Votes 444,454,594 22,580,601 1,080,409 187,808,153
Item 3: The ratification of the appointment by the Company of W.T. Uniack & Co. CPA's
P.C. as the Company's independent registered public accounting firm for 2011 For Against Abstain 643,863,429 12,014,978 45,350
Voting was based upon 1 vote for each share of Class A Common Stock and 40 votes for each share of Class B Common Stock.
Good Morning Gentlemen,
I wanted to thank everyone who attended the SHM and provided excellent coverage of a most important event.
I have been thinking about the 400oz Dore Bar (I mean who isn’t?)
I decided to do some math:
VALUATION
Assumptions:
1. Price of Gold $1700/oz
2. Price of Silver $30/oz
Just some round number to play with.
Optimistic Dore makeup (65% Gold and 35% Silver)
65% of 400oz =260oz Gold= $442,000
35% of 400oz = 140oz Silver = $4,200
Total Optimistic Dore Value = $446,200
Pessimistic Dore makeup (35% Gold and 65% Silver)
35% of 400oz = 140oz Gold = $238,000
65% of 400oz =260oz Silver= $7,800
Total Pessimistic Dore Value = $245,800
Next, I decided to try to figure out how many tons of rock took to make that bar.
TONS OF TAILINGS REQUIRED
Assumptions:
1. 20% Recovery from tailings using current methods from Assay Average of 16g/ton = 3.2g/ton
2. 1 oz = 28.35g
3. 1 troy ounce = 32.15g
400 oz Dore Bar = 11,340g
11,340g divided by 3.2g/ton = 3,543.75 tons of tailings
400 Troy oz Dore Bar = 12,860g
12,860g divided by 3.2g/ton = 4,018.75 tons of tailings
HOW LONG DID IT TAKE TO PROCESS?
Assumption:
1. Optimistic - 20 tons/day
2. Pessimistic – 12 tons/day
Regular oz = 3543.75 tons
Optimistically = 3,543.75 tons divided by 20 tons/day = 177 days
Pessimistically = 3,543.75 tons divided by 12 tons/day = 295 days
Troy oz = 4,018.75 tons
Optimistically = 4,018.75 tons divided by 20 tons/day = 201 days
Pessimistically =4,018.75 tons divided by 12 tons/day = 335 days
At this point, making one last assumption that the mill is not running on the weekends or holidays a year equates to about 250 working days at the mill.
We are looking at it taking between 8 months to 1.5 years of mill time to create the 400oz Dore bar.
Therefore, this answers the real question, which is on my mind
IS THERE ANY MORE?
From the numbers (and please feel free to correct me) the answer is ‘I don’t think so’
This does not change my feeling or opinions on SFMI/GHDC. I know that things are moving forward and the fact that we have a 400oz Dore Bar is way more impressive than other mines that don’t have anything to show.
Go long and strong!
EVANG1615
Does anyone have ANY news about GDHC SHM or the SFMI. This is worse than crickets. I would even take speculation at this point.
Thank you in advance for putting up any small breadcrumbs.
Long and strong
From my understanding, from reading this forum, others were interesting in using the SFMI refinery as it was the only one around that was functioning. Tracking so many truckloads of ore has a high cost too. IMHO.
I know that this must have been a reporting issue but still
http://finance.yahoo.com/q?s=OSFX.EX
SFMI should only have this issue.