Goldtent TA Paradise

SEK.V

1. Mserr says:

   September 14, 2019 - 12:34 am at 12:34 am

   Dont know what’s happening here but the obv. AccumulToin
   And chalkin all turning up as well.

   • Karl says:

     September 14, 2019 - 6:24 am at 6:24 am

     I too had noticed even w/o having looked at charts. I have often noticed a little green even on days when there was a lot of red — day after day.

     Whereas I am not a big fan of relying on breakouts on tiny stocks (or even bigger entities), I do think these gradual, somewhat protracted, movements are useful, and all the more so if many of the stocks’ peers are not doing so well, as is perhaps the case right now. This sort of movement is far from completely reliable. Some addled dufus might have picked SEK with a dart + list while high, buying day after day after taking things to the pawn shop day after day to raise cash for his purchases. Some small-time Vancouver hot-shots might be preparing a promotion (one of those things that will provoke a slight buying surge that will provoke those inside and outside the promotion to declare an exciting “breakout”, thus allowing self-fulfilling prophecies of X-“baggers”). These problems are 1 reason why it’s useful to look into the background of the company.

     Nevertheless the slow accumulation is a sign I like to use. I’m wondering whether their #1 property, which is in a good neighborhood, is finally attracting significant interest from …..?? Or whether they found …..???? (Or promo????)

     Disclaimer: I am breaking my often broken rule of not commenting on something I hold or have recently held. I unfortunately hold SEK. “Unfortunately” because it’s in DRS form. I was stupid enough to buy it via a Spock-sponsored private placement. The company has its pluses and minuses (I wouldn’t have bought if I didn’t think there weren’t sigificant potential pluses) – but the big minus in my mind is that the private placement gave me shares in DRS form which means endless headaches for me as a US shareholder–means for practical purposes I can’t sell unless I make selling a near job (or I would have sold, being prepared to buy back). Really stupid on my part. Almost worse than money down the drain.

     • Bikoo99 says:

       September 14, 2019 - 6:45 am at 6:45 am

       Why do not have Stock certificate? DRS is a certificate account. I have unrestricted certificate. I can deposit in US account any time I want once Brokerage house accepts it. Currently they are not accepting.

     • Steins1 says:

       September 14, 2019 - 10:36 am at 10:36 am

       Karl, I got all my PP’s at Sprott and have not had problems selling any of Spock’s original stocks at Fidelity.
       When we got the sell for Inca, it took a 15-20 minutes but dumped 400,000 shares at a decent price.

       • dyu626 says:

         September 14, 2019 - 10:58 am at 10:58 am

         Same. No issues getting the PPs into Sprott and being converted to OTC shares. Although I wish they were still the TSX shares for more liquidity.

         Oh well. If this bull market is real. Liquidity shouldn’t be a problem for OTC in many years.

         I still don’t understand how holding a non revenue generating exploration Canadian stock violates Passive Foreign investment companies act.

         Maybe Canadian royalty companies may be a problem since they are revenue generating and may have passive income distributed to shareholders.

         • Karl says:

           September 14, 2019 - 11:18 am at 11:18 am

           Holding them does not *violate* any act. It is perfectly legal to own PFICs. It is just that holding stocks in a foreign company, including biotech, exploreco, social media, whatever, that does not make profit for a while and has a lot of assets that do not make profits (the rules are excessively complicated) counts as holding a PFIC. I am no expert, but I can post links again.

           Specifically on Canadian explorecos, apparently for an audience of tax lawyers and accountants– may need seeing other videos or other references for understanding– but gives you the point that this stuff may indeed be relevant:

           http://www.youtube.com/watch?v=bm4mwc8GXI8

           from 2014 so as far as I know could be outdated but I’m afraid maybe not–
           https://scholarship.law.ufl.edu/cgi/viewcontent.cgi?article=1628&context=facultypub
           “PFICs Gone Wild!” where a law school academic describes in a piece for other lawyers the agony she underwent because of PFIC laws and regs because her father had in his estate the stuff we have

           Background not specifically on explorecos but helped me mainly fall asleep many many times but understand a little bit

           http://www.youtube.com/watch?v=-_37sjUJd4Q
           http://www.youtube.com/watch?v=vwpHVMEdaX0
           http://www.youtube.com/watch?v=qK7qt45CKhE

           http://www.youtube.com/watch?v=IfNh4JU3Fjo

           I have been in active correspondence with experts this week in hopes of getting help on the topic. I have been getting a bit of runaround. The last I heard was to go to mid or large sized accountant organization who must have some expert to help. Don’t rely on me. I don’t know and I do my best. Please let me know if you find out. I seek help.

         • Karl says:

           September 14, 2019 - 11:20 am at 11:20 am

           Selling Inca (ICG in Australia): I too was able to sell Inca easily at Fidelity. I sold mine Sunday evening this week, Eastern time US almost immediately. It was held at Fidelity, not in DRS or certificate form, so not a problem.

         • Karl says:

           September 14, 2019 - 11:25 am at 11:25 am

           Using Sprott:

           I am aware of using Sprott and have corresponded with them, nearly a year ago. The costs of using Sprott and the time of moving things to Sprott compared to the almost negligible value (currently) of some of the Spock rocks obtained via the PPs and my time constraints have caused me to defer employing this option. Asking the transfer agent to sell (at a really bad price probably) would be another. I have other things to do. Perhaps I should be doing those things rather than writing here though.

         • Karl says:

           September 14, 2019 - 12:39 pm at 12:39 pm

           Since I’ve repeated some of the PFIC stuff, I will repeat for US people the other matter, FBAR. I have gotten the runaround from pros on FBAR. However I think I have gotten useful advice from the US Treasury people in Detroit, who were nice. Do a search of FBAR. If my understanding is correct, you don’t have to worry about FBAR unless you have a foreign account. From my understanding of the Treasury reps — not to be relied on — DRS may count as foreign account. It depends entirely on the address on the DRS. If it is a US address, not foreign. If it is not a US address, it is foreign. (Exchange listing, location of office, location of operation–entirely irrelevant.)

           I wish 1-2 other people would go through the references I have given +/- others and see whether these or others are worth posting — I do not know whether these are the best. Better of course would be if a pro would post. Absolutely do not rely on me. I am struggling here.

         • Karl says:

           September 14, 2019 - 1:24 pm at 1:24 pm

           And as for the question of royalty co’s vs explorecos being PFICs — the situation in my mind is much more ambiguous for most royalty co’s. For most PFICs (for example other than ones that are really new–PFIC rules exempt extremely new startups) in my mind most explorer-developers and some producers are clear-cut PFICs.

           This week I had an slight argument with a tax pro with tangential knowledge of PFICs. He contended that royalty companies would pretty much have to be PFICs. My (naive, unreliable) position was that from my studies it was evident that from first glance, yes, they absolutely *seemed* to be PFICs, but on further looking I thought that more arcane PFIC regulations or law might indicate that actually they are not PFICs. It may be for that reason that at least 2 Canadian royalty companies have gone out of their way at least in some recent years have made a point of stating in their formal documentation that they are not taking a stand on the issue. It is possible that they are not but they do not want to fight. I do not know. I really, really, really do not know. I wish I knew. If one has large capital gains in any of these the matter is not necessarily trivial. There may be huge interest payments to make to the IRS and huge paperwork headaches and/or huge accountants’ fees.

     • Steins1 says:

       September 14, 2019 - 11:24 am at 11:24 am

       LOL! That was probably mostly you and I selling Inca Sunday evening!

2. Mserr says:

   September 14, 2019 - 8:18 am at 8:18 am

   I had done work done by removing legends and have converted them to otc
   And have since been reading them. No issues.

   • Karl says:

     September 14, 2019 - 11:30 am at 11:30 am

     My problem has not been removing legends but rather getting a brokerage other than Sprott to accept the certificates or DRS. Sprott is rather expensive. I may end up using them. Most US brokerages other than Sprott give a really hard time to US customers in accepting certificates or DRS for some combination (apparently brokerage-specific–and each may have a formula(???)) for stuff like–

     non-US company
     not listed on US exchange
     not liquid
     small market cap
     low price per share
     perhaps some combination of astrological configuration and entrail reading. Hard to figure.

     • Mserr says:

       September 14, 2019 - 12:15 pm at 12:15 pm

       I had it done immediately. So the prices were looking good at the time

       But they do seem To be catching a bid now
       And yes Sprott does cost. For me. I’ll sit until they pop
       Or go bust.

       Couple of them look good though. Well really one.

     • Mserr says:

       September 14, 2019 - 1:56 pm at 1:56 pm

       So you say drs could be a fbar.

       Therefore does that mean otc isn’t fbar and therefore not an issue

3. Mserr says:

   September 14, 2019 - 8:25 am at 8:25 am

   And on kitchen. All the press. One thing he knows the region
   He bought a piece of land with a great zip code
   Someone is going to want this land. Question is what price

   • Karl says:

     September 14, 2019 - 11:32 am at 11:32 am

     Great land is right. He does know it.

4. Mserr says:

   September 14, 2019 - 11:25 am at 11:25 am

   I contacted 2 rocks this week. Both stated not a pfic

5. Bikoo99 says:

   September 14, 2019 - 12:51 pm at 12:51 pm

   Can you post Canamex Gold CSQ chart? Thanks.

   • Karl says:

     September 14, 2019 - 1:13 pm at 1:13 pm

     Can get US prices at bigcharts.com using symbol cnmxf

     • Bikoo99 says:

       September 14, 2019 - 1:29 pm at 1:29 pm

       thanks.

6. JSKauai says:

   September 14, 2019 - 1:37 pm at 1:37 pm

   Another small rock and I don’t know if Spock has it, that is breaking out from a long base is Coral gold…https://stockcharts.com/h-sc/ui?s=clhrf&p=w&yr=9&mn=8&dy=0&id=p5444238265c&a=614027596 . I lost my ability to post charts since stockcharts cracked down on hackers…lol…so maybe someone could post the chart for me, mahalo.