This is how it stands...

hotel46,

I doubt a lot of others have tried to redeem their investment. They have seen that RSC hasn't redeemed Dusty's investment. My guess is that most investors are hoping that things turn around for RSC.

In what assets do you think RSC invested/spent the money? Inventory and receivables are the two main assets that are normally financed with short term capital. Both of those assets should turn over on a regular basis. Unwillingness or inability to pay out $15,000 is an indication of a serious problem.

The best hope is that RSC has had their refinery tied up for several weeks refining zinc for COMIBOL, the nationalized Bolivian zinc mine Colquiri.

http://www.royalsilver.com/news.html

But if that is the only issue, why didn't Brian just say so. Maybe COMIBOL will invest some cash in RSC and those who want out, can cash out.

 

""Breaking news"""
Email from Brian notifying me that I will receive a refund next week.
I hope it happens this time and that everyone else hears from Brian as well.

 

I wish you the best man. After going through a similar situation trying to get 23k back from a coin dealer, I can totally appreciate your situation. It took me 83 days until I got a resolution, so I have my fingers crossed for ya.

 

My guess is that COMIBOL is investing in/lending money to RSC and that you will receive your money.

 

Well if its happening for dusty - then lets hope its going to happen for the concerned parties here in Brisbane. It's simply not on - having to wait for something noted and explained in a contractual agreement, and not fulfilling that is dubiously legal - I'm still having that looked into.

Here's hoping Brian contacts the people concerned here in Brisbane, and gives them resolution with more than just words. I feel very sorry for the people here feeling like they've been 'stung', and am personally glad I never invested a cent in their business. I've been speaking with a close friend who had a relationship with RSC, in fact giving them around $100k's worth of business, and got walked over. When made aware of the situation, that persons response was 'I thought it was all just a bit of hot air at first, then when I properly looked into it, all I can say is I'm glad I have nothing to do with them now.'

I think its prudent to add that if I was ever in the situation that RSC was in now, I'd be devastated to hear that from a previous client or customer. I treat my own clients who give me a lot less than $100k's worth of business with impartial respect, promptness of response and above all confidentiality. From the emails I have received, and the information I have been working with here in Brisbane, its plainly obvious to see that all three of those traits are not evident with RSC, with the confidentiality issue in particular being treated with a flagrant disregard. I was shocked, appalled and angry when I read the content of some of the emails, which have gave me an insight into the greater situation involving other people, and their dealings with RSC - information which as a given should be treated with absolute confidence, not banded about like playground gossip in an email from Brian.

With that said, I took the opportunity to not comment on others' business dealings with RSC (having been made privy to that information by Brians emails) and as such have reserved myself to finding the best possible resolution to Brisbane members who have come forward to contact me. I'm hoping that in the next week or so, and having seen people contacting embassies and international agencies to have this resolved, we will see a peaceful and acceptable resolution without having to resort to engaging the legal system, which is still being looked into.

Cheers,

RD

 

Good luck with that Dusty, I hope it is settled satisfactorily for you.

 

I received an email from Brian McConnell this morning to say my refund will be in 2 weeks. Will report back when I get it!

 

That's great news
I hope that this time it all comes through and we can move on and buy some more Gold and Silver.

 

I disagree better to cut out the rot early than let it fester and spread to other parts/people - if RSC hasn't got it's Shit together by now I doubt it will make a comeback and people should be warned otherwise more people will be on what looks like a ponzi train ride to shaftville.

 

Madoff invested a lot of time and money in his "business" as well so that's no real indicator of reliability. I'd say Brian has done a fine job of destroying his own reputation and business - The guy is shafting people they should complain publicly about it.

 

Honest men probably don't keep promising things they can't deliver - just saying.

 

I've got a feeling it will all come good. People that work as hard as Brian, and invent a new process for refining (ARGOX), aren't doing it to cheat people out of their money. Otherwise he'd be sitting on a beach in the Bahamas sipping daquiaries from .99999 purity silver pimp cups, not spending 20 hrs a day in a factory.

 

i hope that this is indeed the case, but i would have thought that he'd at least have communicated with Dusty and others instead of ignoring them for months on end.

 

Where do you think he's been for the pass three months

 

I hope everything works out for you Dusty. And everyone who has money tied up in this thing. Ponzi or legit - I'm glad for the discussion to keep me educated about some of the risks involved with paper-silver. To those that are saying you shouldn't have spoken openly and honestly about your experiences, I disagree completely. For what it's worth, I feel you've been pretty damn reasonable given the circumstance. Hopefully it all pans out.

 

Apologies! My understanding was that physical silver was something you have - in person... As opposed to promises that aren't delivered on. Noob mistake... The last thing I want to do is contribute to any speculation or innuendo. Just trying to give some moral support.

 

Glad to hear it shiney!

Hopefully a few others will receive their 'packages' too, in the form of bond repayments