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Re: Dunphy777 post# 218438

Friday, 10/24/2014 8:45:06 AM

Friday, October 24, 2014 8:45:06 AM

Post# of 221851
perhaps a little clarification:
until to the beginning of 2010 the S.C. project consisted of 37 mining claims (1 lode claim and 36 placer claims(!). in 2010 the company has reorganized and expanded its lode gold claims. result: the placer mining claims have not been renewed by S.C. Inc. for 2010, but S.C. has staked 23 additional lode claims. "...the company is extremely satisfied ..." and "...believes that it has greatly strengthened the land position and the valuation of S.C.Inc....". all completed on April 17,2010, when "...additional 23 new lode claims were staked at S.C....", i.e. from the original 37 lode and placer claims S.C. retained only the one lode claim. together with these 23 new lode claims there are now 24 lode claims. the new lode claims comprise the area of the old placer claims!!
of course S.C. has abandoned all the placer claims - only relatively small amounts of gold in these placer claims imo.
(Form 8-K from 4/23/2010)
next question: is the Liquidation Preference of 2,20 $ per share for the old or for the new claim structure? there is a very big difference between liquid.pref. of A and B: 16 $ against 2,20 $!!!

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