Silvercorp Metals - Jetzt geht\'s hier richtig los! (Seite 347)

[Sunray01]

Casey Research Report wiederlegt Alfred Little

http://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&…

[elsolivars]

Antwort auf Beitrag Nr.: 42.082.377 von grasgruener am 13.09.11 19:58:19

beileibe nicht !!!!!

[Incase]

man kann es sich auch so vorstellen!

die grossen shorter dieser aktie haben darauf gesetzt das der anonyme brief mehr unsicherheit auslöst. vielleicht hat man zusätzlich auf einen fallenden silberpreis (wie von vielen erwartet) gesetzt.
beides ist nicht eingetroffen ma. wert sich mit allen mitteln.
ausserdem zeigte sich der wert trotz des hohen short bestandes stark und war auf dem weg nach oben.

nun ist man aber unheimlich short und scheut keine mittel. die kontakte hat man, und die eine hand....
was hier läuft war schon im vorfeld seitens der angreifer sehr unglaubwürdig und wies für mich darauf hin, das man nicht mit der energische reaktion des ma. gerechnet hat. ich denke es gab eine planänderung.
nachteilig sehe ich das dass, ma. nicht selbst die polizei eingeschaltet hat.
was mich brennend interessiert, ist wie sich der shortbestand von gestern zu heute verändert hat. das wär wirklich hilfreich.

ich steh zwar an der seitenlinie aber hab den finger aber am trigger-
ist doch lächerlich was der dolittle da schreibt. sowie der restliche kuh-mist der hier laüft.

gruss

[Sunray01]

Zu den Lastwagen und der Zählweise bzw. den Erzproben

1. Counting trucks. How reliable is someone counting trucks over such a short time period. I would not believe this is a representative of the company's business. It's like I'm counting a restaurant during weekdays instead of weekends. If they count 365 days out of the year then I might believe them.

2. Ore samples picked off the side of the road. Hilarious. Its like picking up little pieces of ores that bounced of the truck. Wtf? Its like picking off the little fishes off a boat. Hello! big fish don't bounce off. Its like measure meat content on a small fish.

3. Related party customers. I asked my accountant friend to look into it. He said under any type of standard, just having a small ownership is not a necessarily related party. He said other things are needed and its usually bigger ownership % like 20%+ in order for it to be a related party. I'm not good at accounting, but im sure someone here can verify.

I still think cash is king. If this is all false, where does the CASH come from????? hope someone figures this out. Anyways...this is my 2 cents.

[MrRipley]

Antwort auf Beitrag Nr.: 42.083.289 von Incase am 13.09.11 23:32:22

Im Zweifel für den Angeklagten, hier werden im Kern doch tatsächlich die gleichen Verschwörungstheorien angewandt, die man so allgemein in der Politik kennt.
Zeugen stehen nicht zur Verfügung, oder dies und jenes.

Also wenn das mal nicht langsam sehr lächerlich wird.
Es sieht ja so aus, als wäre ganz China nicht nur tief korrupt sondern auch mörderisch und der neue (alte) Bad Boy in der Welt.

Muss jetzt ins Bett, ich hoffe, meine Intuition hilft mir heute Nacht weiter und schenkt mir einen Chinatraum.

Wird mal wieder Zeit.

Rational ist das alles ja von niemandem mehr vernünftig zu erfassen!

[Incase]

http://www.tfmetalsreport.com/forum/silvercorp-metals-inc-sv…


My email:


To whom it may concern:

Can you comment on one of your latest allegations against SVM?

“On average, the investigators counted 44 trucks per day entering the mills, about 34.3% less than the expected level of activity. Therefore recent production continues to be at least 1/3 less than expected.”

Isn’t this to be expected though, as high grade ore goes directly to the smelter and not the mill?

“Our investigator made multiple visits to the SGX mine in August 2011 (see photos from his visit here and here). During each visit the investigator collected samples of ore that had fallen off the trucks, littering the road along the route from the ferry dock to the mills. We submitted the first two samples to a local laboratory for testing. The lab determined the silver content to be only 30 grams per ton (a copy of the lab report can be downloaded here). According to the 43-101 reports the ore from SGX mine sent to the mills should contain 407 grams of silver per ton of ore.”

Again, if the high grade silver ore goes directly to the smelter, then the pebbles your team was picking up off the ground would show much lower silver content.

I also think that refusing to name your sources is a bit of a cop out. If you truly believe that your allegations are true then you should stand by them.
-Severin

Their response:

Hello Severin,

Thank you for your email and your excellent questions. I have forwarded this on to be answered properly by those with a strong geological background who were involved in the SVM research.

If I do not reply back within 24 hours please follow up with me as I want to make sure this gets answered for you. With regard to refusing to name our sources I understand how you may feel it is a bit of a cop out. But please understand from the perspective of those involved with contributing to this report. Most of A*L's contributors of factual evidence and data are native Chinese analysts who currently live in China.

Unfortunately their physical safety can be and even has been in jeopardy in the past with previous reports including threats via telephone, email, in person, and even up to kidnapping. Fraudulent companies have no problem stealing hundreds of millions of dollars of investors monies, and have even less of a problem violently confronting those who intend to expose it.

Again, thank you for writing in and look forward to speaking with you soon.

Best,


Simon Moore
Managing Editor, A*L

I also asked to explain how SVM could buy-back 10 million shares and issue regular dividends if they were incurring regular losses. Will keep you posted.


__________________

[Sunray01]

Zitat von Martin12345: Silvercorp Metals Inc., a TSX-listed silver miner that operates solely in China, has been accused of fraud by a short-seller, sending its stock plummeting 16 per cent.

Researchers from Alfred Little, an independent research firm that looks into companies doing business in China, allege that Silvercorp (SVM-T6.20-1.58-20.31%) has overstated its production, inflated the grade of silver it mines and failed to disclose that its largest customer is a related party.

The report was released much in the same way that Muddy Waters released its initial findings from its investigation into Sino-Forest's business dealings in China. The head of Muddy Waters, Carson Block, was also short Sino-Forest's stock when he released his report.

Alfred Little started looking in Silvercorp earlier this summer, but did not disclose its findings until Tuesday. During the course of its investigation, the company’s stock has fallen from a peak of $11.34 in July, down to $6.50 on Tuesday, a 42-per-cent drop. Part of that fall can be attributed to an anonymous letter writer who sent Canadian regulators and the company a note that alleged Silvercorp was engaged in a “Potential $1.3 Billion Accounting Fraud.”

Before its stock started to plummet, Silvercorp had a market capitalization of just over $2-billion.

To conduct its investigation, a team from Alfred Little made multiple visits to Silvercorp’s largest mine, named Ying, in Henan province. During the trip, Alfred Little said that it found the grade of Silvercorp’s ore was much lower than it had reported in U.S. filings. To assess the grade, the investigators examined the mined material that fell off trucks on their way to mills. Alfred Little said it knows this is a small sample size, so it is submitting more samples for examination.

The researchers also claim that the production Silvercorp reports in U.S. filings is much lower than what it reports to the Ministry of Land and Resources in China. To look into the matter, the company watched the trucks leaving Silvercorp’s biggest mine for two weeks and found that based on the number of 30 tonne capacity trucks coming and going each day, Silvercorp’s production could about half of what is expected.

Alfred Little has also talked to an international geological consulting firm that puts together 43-101s reserve reports. This firm said Silvercorp’s latest 43-101s were likely based on earlier reports, rather than new information because Silvercorp’s own external geologists have not visited the company’s main SGX mine since 2008. That means Silvercorp’s employees are likely creating their own resource estimates, Alfred Little wrote.

Moreover, the report alleges that Silvercorp has failed to disclose that its largest customer is a related party. (It is partly owned by a Silvercorp subsidiary.) Moreover, the company’s acquisition of Yangtze Gold in 2008 gave a relative of Silvercorp’s chairman and chief executive officer a 1500 per cent gain on capital that was invested for only six months.

This isn’t the first blow to Silvercorp. On Sept. 1, the company was forwarded a copy of a letter alleging a “Potential $1.3 Billion Accounting Fraud at Silvercorp.” The author did not provide his or her name, but acknowledged holding a short position on the stock. The letter was sent to the Ontario Securities Commission, the company’s auditors and some media outlets.

Some of the claims made in the anonymous letter are similar to those made by Alfred Little, particularly the discrepancies between the Chinese resource filings and U.S. filings. Silvercorp addressed this issue (and some others) earlier in September and claimed it has done nothing wrong.

Alfred Little’s researchers say they do not know the identity of the anonymous author and have not collaborated with him or her.

Also wenn das alles zutreffen sollte, dann ist das der Tod der Mine, darüber muss man sich im klaren sein.


Mal sehen, ob die Aktie morgen überhaupt noch gehandelt wird.

[MrRipley]

Wahrscheinlich hat "Little John" einen Fehler begangen.
Dass Silber letztes und dieses Jahr im Preis extrem explodiert ist, hat er irgendwie nicht auf dem Radar.
Dafür fleissig LKW´s gezählt, immerhin zwei Wochen lang, und Proben genommen, ich frage mich nur, durch einen befreundeten Chinesen oder gleich mit einer nicht zu kleinen Schaufel?
Sind die Minen denn nicht umzäunt? Ich weiss, dass an jeder Mine Wachposten das Mindeste sind, vor allem bei den Rare Earth Löchern, und bei Silber wohl erst recht.
Das wird ja immer lächerlicher hier.

[Martin12345]

Antwort auf Beitrag Nr.: 42.083.200 von Martin12345 am 13.09.11 23:01:24

Alfred Little’s researchers say they do not know the identity of the anonymous author and have not collaborated with him or her.

Alles reiner Zufall. Ich würde sagen: Alle gegen Einen.

[Martin12345]

Silvercorp Metals Inc., a TSX-listed silver miner that operates solely in China, has been accused of fraud by a short-seller, sending its stock plummeting 16 per cent.

Researchers from Alfred Little, an independent research firm that looks into companies doing business in China, allege that Silvercorp (SVM-T6.20-1.58-20.31%) has overstated its production, inflated the grade of silver it mines and failed to disclose that its largest customer is a related party.

The report was released much in the same way that Muddy Waters released its initial findings from its investigation into Sino-Forest's business dealings in China. The head of Muddy Waters, Carson Block, was also short Sino-Forest's stock when he released his report.

Alfred Little started looking in Silvercorp earlier this summer, but did not disclose its findings until Tuesday. During the course of its investigation, the company’s stock has fallen from a peak of $11.34 in July, down to $6.50 on Tuesday, a 42-per-cent drop. Part of that fall can be attributed to an anonymous letter writer who sent Canadian regulators and the company a note that alleged Silvercorp was engaged in a “Potential $1.3 Billion Accounting Fraud.”

Before its stock started to plummet, Silvercorp had a market capitalization of just over $2-billion.

To conduct its investigation, a team from Alfred Little made multiple visits to Silvercorp’s largest mine, named Ying, in Henan province. During the trip, Alfred Little said that it found the grade of Silvercorp’s ore was much lower than it had reported in U.S. filings. To assess the grade, the investigators examined the mined material that fell off trucks on their way to mills. Alfred Little said it knows this is a small sample size, so it is submitting more samples for examination.

The researchers also claim that the production Silvercorp reports in U.S. filings is much lower than what it reports to the Ministry of Land and Resources in China. To look into the matter, the company watched the trucks leaving Silvercorp’s biggest mine for two weeks and found that based on the number of 30 tonne capacity trucks coming and going each day, Silvercorp’s production could about half of what is expected.

Alfred Little has also talked to an international geological consulting firm that puts together 43-101s reserve reports. This firm said Silvercorp’s latest 43-101s were likely based on earlier reports, rather than new information because Silvercorp’s own external geologists have not visited the company’s main SGX mine since 2008. That means Silvercorp’s employees are likely creating their own resource estimates, Alfred Little wrote.

Moreover, the report alleges that Silvercorp has failed to disclose that its largest customer is a related party. (It is partly owned by a Silvercorp subsidiary.) Moreover, the company’s acquisition of Yangtze Gold in 2008 gave a relative of Silvercorp’s chairman and chief executive officer a 1500 per cent gain on capital that was invested for only six months.

This isn’t the first blow to Silvercorp. On Sept. 1, the company was forwarded a copy of a letter alleging a “Potential $1.3 Billion Accounting Fraud at Silvercorp.” The author did not provide his or her name, but acknowledged holding a short position on the stock. The letter was sent to the Ontario Securities Commission, the company’s auditors and some media outlets.

Some of the claims made in the anonymous letter are similar to those made by Alfred Little, particularly the discrepancies between the Chinese resource filings and U.S. filings. Silvercorp addressed this issue (and some others) earlier in September and claimed it has done nothing wrong.

Alfred Little’s researchers say they do not know the identity of the anonymous author and have not collaborated with him or her.