| ARIFFX |
22-08-2011 10:26 PM |
Quote:
VGMC Gold Trading Facility
August 22nd, 2011
Dear Shareholders
It has been a good run for many of us in the gold market in the past two weeks. Virgin Gold Mining Corporation (VGMC) as an entity that has enormous interest in the gold industry is always bullish and supportive of higher gold price. The higher gold price is, the more valuable is our corporation and the richer are our shareholders. The un-evitable events are both gold and CPS price going higher over the next few years.
Let me reaffirm everyone that the number one principal or rather priority of VGMC is to continue to pay good dividend to shareholders for the long run. Top dollars return for your capital in VGMC, in both dividend and capital appreciation.
Gold Trading facility in VGMC was introduced and provided to shareholders in January 2010 as an encouragement to shareholders to get involved and know more about gold. Gold Trading facility and margin is not an obligation of VG-CPS subscription package under our terms and conditions.
When a shareholder subscribed to 10,000 CPS, he/she owns 10,000 CPS and the company’s commitment is to return his/her dividend on time. All of CPS subscription monies is been investment by VGMC into income generating operation so that you are able to get sustainable return (dividend) for your investment.
Gold Trading margin is allocated to shareholders with VGMC taking full financial responsibility.
Currently:
1. Shareholders are able to trade gold without any deposit or premium. The money paid to subscribe to VG-CPS is been invested into operations that are able to generate dividend for you every month; NOT as a down payment for your gold trading account.
2. No commission on every buy and sell trade.
3. No rollover commission.
We should ask ourselves if this a correct way of going forward for this corporation?
The company made a bit of money from the bigger spread (gets so much complain) but now that we have so many shareholders with so many trades every day and a lot of carry forward trades, how can the company sustain in the long term?
Therefore, the board of directors had approved my proposal that effective 1st of September 2011:
1. All buy and sell gold trade will be subjected to USD2.00 transaction fee per trade. Transaction fees will be deducted directly from your credit account.
2. Holding or cooling time of 5 minutes between buy and sell for the same transaction/trade will be applied.
3. A rollover rate will be implemented. Rates will be displayed. Rate will be something like USD1/oz. per day, for example. Rollover rate will be deducted from credit account when the particular trade is been closed (sold).
We are giving a one to one ratio margin based on CPS subscription – gold trading now. Meaning the company is using all of shareholders’ shares as a pledge/collateral for gold trading. If gold market should tumble by 50%, our corporation will lose 50% of our value. I do not want to lead this corporation bearing such risk. We cannot go forward hoping gold price will keep going up. Whatever goes up will come down, that is the un-evitable.
I am serious about bringing VGMC public by 2015 and going public means our corporation cannot bear such risk.
We will see how thing goes after these implementations. If I felt that these measures are not good enough, I may propose that we stop gold trading from VGMC effective 2012. It has to be a win-win situation. If VGMC lose money or take enormous risk, it means your investment is been put to risk. Alternately, we may also set up a proper trading platform for shareholders to trade whereby the trading account is not pledged to VG-CPS.
However, speculative trading is like gambling; VGMC does not build wealth through speculative methods. If it comes fast, it will be gone faster. Our shareholders are very enthusiastic about gold trading because they make good income out of it. I saw some of you made up to 20% in 2 weeks. Do you know how many portfolios/accounts out there got margin call and some wiped out completely when gold hit USD1814 per oz. and lost almost USD100 in 2 days? Our shareholders continue to make money in VG Gold Trading platform because we give 1-1 ratio with zero down payment and zero trading fees. Similarly if we allow you an unlimited margin, you will lose your whole portfolio. All your hard earn money and all your CPS shares that return you good dividend every month will be gone in 2 days! If we allowed every shareholder the unlimited margin as many requested, VGMC would have been in receivership (bankrupt) last week! Scary, serious and true.
Under my leadership, I want VGMC to focus on what we are best at doing. Generate high dividend and capital appreciation. We are having more and more shareholders, thus we are having more and more fund at disposal. If we used to return 150m USD for 100 million shares easily; next year we have to return 1.3 billion dollars for 1 billion shares. If we lose focus on what we do best, we will lose our value going forward.
Please write to me (I read all your emails though I did not reply most of it) and tell me what your thoughts are on VGMC giving up gold trading altogether. Or shall we set up an alternative trading platform? Do not be selfish, be pragmatic, please look at a bigger picture. Your respond means a lot to me.
You are VGMC and VGMC is you. Thank you.
Kenneth Elinger
President and CEO of Virgin Gold Mining Corporation
|
leader2, tolong reply mail kenneth ni,,
pesan kat dia,
"agak2 r kalo nak caj pun,, 2usd tuuuuuuuuuuuuuu..." |
