DD Support Board and Research Team

[DragonBear]

Do you have a copy of the Evans & Evans appraisal?

Interesting I clicked on the link I have in my word file, and it couldn't find it. However, a Goog search still can find it:

Evans&Evans

I suggest immediately downloading the PDF file before that link goes down. Apparently that report is doomed to disappear.

Page 44 with the stated 40oz/MT and 38 oz/MT is the sensitive ouchy part. Where E&E valuates it based on assay info Reid supplied at $19M. Yet CEO Reid of Canamet agrees to sell the asset to Ceo Reid of TRII for $128K on Page 39.

As we both know, Reid setting himself up with $100K in cash, and the rest of the sale totaling around $500K by issuing a debt note to himself is the microcrap usual. However, issuing himself a debt note for $19M would scare the willies out of affiliate microcap venture firms. The game of issuing stock to others for cash would be over before it ever started.

What PCAOB might find interesting is the idea he sells his E&E potential valuation sitting at $161M, telling the market $19M is just laying around on the top of the ground, yet the total bargain price was to be the $639K on Page 39.

Also of interest to the PCAOB is the claim in a SEC filing of $322K(?) of revenues from tailing material said to be previously assayed at 1 oz/MT. As gitreal would say, material at 1 oz/MT probably has a higher market price being sold as gravel. Claiming revenues from waste is bogus, and Reid should be challenged to justify it.