Galaxy Minerals Inc. (f/k/a GAXY)

[g2285]

What is going on with the court situation anyone?? Is this still alive at all?? Why didnt they bother working on the yellowjacket property, just leaving the equipment there to rot?? is there not enough viable gold... do we still own the rights to that site?? why is someone dropping dollars into this on occasion?? can they speak up?? eom

[john wayne]

Well somebody sold 11,200 shares of this today - that's $5.60

No dillutive filings since 2005
Sb-2 for 40m

[Baboquivari]

LOL! No meat and a neat little pump to catch some suckers. I would look for some principals with half a million to several million shares looking to cash out and run.

[g2285]

here we go again.. why?? are the pumpers going insane in the membrane? or is there some meat way down below.

[g2285]

why would anyone pump this shyt??

[notstinkypasta]

It's being pumped by daytraders on ihub. No other developments.

[g2285]

Anyone know what happened here today?? maybe a renewal of the business or some type of subsidiary merger?? 12million shares traded.. up 100% even if the numbers are small.. Im still onboard with my shares from over 2year ago. would love to see something happen good... what is going on with the mineral properties in arizona and alaska?? any news is good.

[john wayne]

This is moving now - up almost 100%

[g2285]

Thanks Baboq.. Its so wrong what is happening here.. Do you think there is viable gold ore in the yellow jacket? thanks for the update.. g

[Baboquivari]

This is a dead dog. Galaxy filed for a chapter 11. A judge booted it and now they have re-filed a chapter 11. I don't understand why as this corp. and holdings have likely been gutted as much as possible. The court decision on the new 11 will be out in a week or two. We will just have to see what happens and when it will go into full recievership. I talked to a friend on the phone who was deer hunting near the Yellow Jacket property.
He said the equipment is being stripped and sections of the fence are missing.

FROM AN SEC DOC. LINK BELOW

"On February 3, 2006, GCA Fund sent us a Default and Demand Letter alleging that we are in default under the Agreement and the outstanding Notes due to the fact we did not have a Registration Statement, registering the shares of our common stock underlying the Convertible Notes and the Warrants, declared effective by August 8, 2005, and by terminating our agreement with Searchlight Exploration, LLC, regarding the Bonanza property, a topic that was the subject of a previously filed Current Report on Form 8-K. GCA is demanding $2,661,266.07 as full payment under the Note, plus $2,933.33 for each day after February 3, 2006, for liquidated damages. GCA Fund has stated they will file a lawsuit seeking these amounts if payment in full of the alleged amounts owing is not received by GCA Fund by February 13, 2006. We are in discussions with GCA to attempt to settle this matter prior to the filing of a lawsuit. If a lawsuit is filed regarding this matter we intend to vigorously defend against the allegations."
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=3943763

[g2285]

WHATS THE DEAL?? Is someone in jail now for what they have done to us shareholders? Anyone that scams others needs to pay the price. What is going on with yellowjacket and the alaska property? is it just a ghost town and pipe dream? any news would be appreciated.. g

[Baboquivari]

You got it max57. It appears that GCA Strategic Investment Fund Ltd will be taking a major ownership position with the 448,979,512 shares aquired through conversion. What they decide to do with their position is yet to be seen.
http://www.investorshub.com/boards/quotes.asp?ticker=GAXY&qm_page=22495&qm_symbol=GAXY

[Spikes Wire]

Yeah but it was fun to see some movement. hahahaha. Baffling.

[max57]

Looks like a classic walkdown. Move away from the keyboard,
nothing to see here, just folks scratching their head.

[g2285]

What of the Alaska property and yellowjacket?? It seems like something could be beginning again or it could just be a pump up.. only time will tell but i hope this puppy goes over .10/share this week either way!!!!! gm.

[max57]

This company has nothing. No working interests, no revenue, no website. and no answerable phone number. This why I am baffled. All of the above can be verified in 10 minutes.

Who buys and bids for shares on a business that, for intents and purposes, is not producing anything? Something deeper to this story.

I took no offense in my second post, just wanted to be sure you were aware of my original intent.

[Spikes Wire]

A little defensive there? hah, just kidding. I, like you, am just curious as to what is going on here. Or maybe someone on this board can help fill me in with what ever happened to this company. Was it all just a scam to begin with?

I had kinda just forgotten about this thing alltogether. It appears as though some people still pay attention to it though.

[max57]

My post was pure speculation. Someone wants this to move. It could be nothing, a MM short gainer play, or someone is making a move based on a potential management change.

I KNOW NUTHING!!

[Spikes Wire]

For real????? What is going on?

Man, this is one of the stocks i was originally hurt on when i started trading. It almost makes me want to waste another couple hundred to see if i could get that money back. Something has to be going on...

Even if it is just someone looking to do a quick pump and dump.

Someone has to have info somewhere, i cant find any.

[max57]

Pure speculation here. Is someone buying this with or without DD? I cannot find any current, published data directing a BUY signal. Is an outsider picking up and hopefully taking over from previous management?

[max57]

Any background here? Cannot find anything current.

[WOODSCHOO]

what are we up on?

[g2285]

up again today.. keeping an eye on my old shares.. : )

[g2285]

Ya, wow.. i see the buys this morning.. maybe someone just trying to get the interest rolling again? or maybe something is coming down the pike. all of my stocks are sucking big time canal water.. not a pretty picture... well we can hope. also looking at mfys as a pink sheet issue.. lol and eeei on the amex.

[Wayne R]

Any new info here? Bid moved up on selling today, usually signals the start of something, but, WHAT?

[g2285]

Whats new on Yellowjacket? Is the equipment still there? if its not been used it must be completely vanadalized by now? or used for illegal immigration hideout? Id love to hear that they are actually doing something there. What of the new land in Alaska? lmao. how do u get equipment up there? by polar bear?? wtf did i get me arse into here... tis the way of life. Do we get a better deal in the afterlife? gm.

[Baboquivari]

Hey S.C.K.
Just ask Goldstein and the other principals here on the board. I know he or several of the principals visit here often and have replied to other posts.
If they don't give an answer, welllll.
If they do it will fall under SEC regs and that might be interesting as well.

[santa cruz kid]

Who has definite info about Goldstein being under investigation ?
I cant seem to find any link or for sure bad stuff about them.
Can anyone get beyound innuendo ? Help me please.

[haremscarem2004]

It's the "any type of good pr" that has gotten Mr Goldstein and friends the attention of the SEC. They are under investigation for all kinds of "pump & dump, fax-blasts" etc etc. They are scared of their own shadows right now. And so they should be.

[g2285]

What is new with Gaxy?? Anyone been around the Yellow Jacket Area lately? Its so very humanly ironic that in this time of $700 gold, gaxy is slumpped in the .01 area.. any type of good pr would pop this puppy up a few pennies. after all this is the pink pennies... still watching here.. but getting older.. lmao.. good luck

[g2285]

wow, ok.well lets hope for something better down the road.. now is the time to be selling gold.. its interesting to watch the small share movement on gaxy.. bump it around from .007 to the .014's

[Baboquivari]

I talked to a friend who was out last week roaming in the area. He said that on his way he passed by the Yellow Jacket Canyon turn off and saw three regular freight storage units like the ones that are used for rail shipping (not portable buildings) that were empty and standing open and a large generator on a trailer. He said it appeared that some of the wheels and tires had been taken (stolen?)off the gen set and that its side panels were open exposing it to the weather. Oh well... What else is new when it comes to Galaxy taking care of your money.

[g2285]

Well, not much action lately but its still alive. Just got in from vegas.. i can see what the landscape is like over there.. wow..still waiting on some news from the yellojacket here and further developments in alaska.. it does sound kinda out there but who knows??? if anyone does have some new info please post.... what is going on at the yellowjacket/phoenix at this time?

[michael7]

you seem to have gone quiet after all your earlier mouthing off on Galaxy. I wonder why??

[michael7]

well well well Finally their chickens are coming home to roost.
"Mr Crooked of Golstein Lane" is very witty!
I hope the SEC are reading this board.

[haremscarem2004]

Interesting. What idiot would commit to an effective Registration Statement within 90 days with no auditors on board?

Funny how there was no mention of the August 8 deadline in the September Q. It just says...."We cannot request that GCA Fund purchase additional notes unless we are current in our public company reporting obligations and a registration statement covering the securities underlying the convertible promissory notes has been declared effective by the Securities and Exchange Commission. We do not currently meet these requirements and therefore cannot request additional note purchases from GCA Fund." How does Mr Symonds feel about signing the CEO's certificate I wonder? He'll be joining Mr Crooked of Goldstein Lane at the SEC.

At September 30, GAXY claimed to have $1.2M cash. Perhaps Mr Crooked or his South African friends will help GAXY out with the proceeds of the sales of their S-8 stock? Ha Ha!

[Baboquivari]

Just take this dog out and shoot it. Links on down.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=3943763

http://www.knobias.com/individual/public/quote.htm?aff=IHUB&ticker=GAXY

[Baboquivari]

LMAO, Check out Sitkinak Island environmental, EPA, ESA and Endangered Species in Google search.

This is to be cheaper to explore and develope mineral on than the Bonanza Project? This just keeps getting better!

"Since the Bonanza property is an alluvial deposit it would require the potential investment of millions of dollars to purchase the additional equipment necessary for exploring, developing and producing any minerals discovered from an alluvial deposit. In total we spent approximately $25,000 in cash, and the above-listed stock issuances, to acquire and hold our rights in this property."

So give up one alluvial property that was acquired for shares supposedly because of testing equip. costs, just to pick up another that is far larger and at the far end of supply lines, and will need the same general type of testing equip. Hmmmmm. What? can't you move test equipment?
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=3920145

[g2285]

sc kid.. If you see anything new over there, please pass it on to us.. thanks mucho. i guess there is always some hope around.

[g2285]

Thanks for the info Santa Cruz Kid.. Maybe we can have some operations now on the Yellow Jacket site. I did see that the director resigned and they are looking for a replacement.

[santa cruz kid]

FYI. Four portable buildings including two office type,
a large tracked excavator and what appears to be a large trailer mounted generator are parked today on Arivaca-Ruby Road at the entrance to Yellow Jacket Mine road. Could this be what you die hards have been waiting for ?

[Baboquivari]

I wonder what poor soul dumped 179.7 K shares yesterday ( Friday
13th) that took the price down to 0.007 cents per share.

[michael7]

I guess you are right. A pity though. Goldstein is clearly a scumbag and deserves to do time.

[matrix]

Don't hold your breath. Very high profile securities wrongdoers may face jail-time but those running around the OTC world don't. Often times, they end up w/ only a slap on the wrist.

I don't think Langley Park did very much DD on any of the smallcaps with which it did share-swap funding.

[michael7]

He has probably has had the screws put on him by the SEC.

[g2285]

Thanks for your detailed post Baboquivari.. i will be watching to see what happens from this point on in this new year.. good luck to everyone. g

[michael7]

It was over a year ago that I first warned that Galaxy and Goldstein of Crooked Lane (who appears notto have chosen his street address by chance)were up to no good. It is good news to hear that the SEC are onto them, and I hope Goldstein/Gold and his cohorts go to prison for a long time. I would like to know why an London PLC were involved with them, when Galaxy is so obviously a scam. Langley Park cannot have done any due diligence whatsoever. How to interpret that, hmmm??
What happened to the useful idiots "freebaboo" and "cootercarol" who were such enthusiastic backers of Galaxy ??

[Baboquivari]

Goldstein is busy.
http://www.knobias.com/individual/public/quote.htm?aff=IHUB&ticker=GAXY

[Baboquivari]

As far as starting up operations.
In my opinion Galaxy should have had the mine open and possibly operating on a pilot plant scale months if not a year ago. The USFS is an issue as far as road use permits and the USFWS as far as threatened or endangered species at the wildlife preserve. However the preserve is a couple miles away and the ore could be trucked. Since the Yellow Jacket/Phoenix could be mined as an underground operation there is no reason I can see why Galaxy didn't get the shaft and drifts open a year ago. As for a pilot plant? I was told by a well known geologist out of Tucson that there is one mineralized zone (about 6 feet wide and several hundred feet long by 200 ft in depth) that he assayed in 1996 that ran 2 ounces of gold per ton and another about a foot wide that ran nearly 8 ounces gold per ton. All on the open 100 ft level. This is more than enough to run a pilot. When I took my trip down to Tucson/Nogales and then to the Yellow Jacket I saw a plant that was mostly still there. It included an ore bin, a small jaw crusher, a ball mill, several floatation cells and what was left of a concentration table. All appeared to be able to be made operable except possibly the table. A new table can be bought for 5000 bucks.
with possibly 25,000 to 35,000 dollars this could have been repaired or maintainenced and replacements purchased and put in operation. With an additional 25-30,000 dollars a small agitated leach with carbon or resin in pulp (gold/silver recovery system) could have been installed. Set it up on private land (about 30,000 dollars) out of the USFS and away from the wildlife refuge. Apply for a Aquifer Protection Permit for a tailings pond 20,000 dollars (about 6 months to get) Install the pond liner (30,000 dollars) and you are ready to process mined ore. Contract with someone to mine and stockpile the ore at the mine (25-50 tons per week). Set aside a contengency of 50,000 dollars for anything I missed and another 150,000 dollars for operations. Truck the ore to the mill and your pilot plant is running and producing gold to the tune of 25,000 to 50,000 dollars per week.
So for about 300,000 thousand dollars you are in production. Yea, if I were you I would demand an accounting.
The math speakes for itself

[Baboquivari]

It is my understanding that the SEC is involved in a full investigation of Galaxy's antics. A mining engineer I know who knows someone who worked for gaxy says the SEC is taking depositions in Washington D.C. from everyone who was/is involved with the corp. I also understand that there is a very long list of other names involved that are being investigated as leads. There is no specific info as to what they are investigating except that it may be centered around excessive stock compenstion for small services provided by principals and friends. As an example (if you worked for a company two days doing mapping and were awarded 5,000,000 or 10,000,000 shares as payment).
Goldstein is posting over on the Raging Bull forum.
All of you investors should go there and ask him what is going on. If nothing else he may not tell the truth and that can possibly be used against him in the future if the share holders decide to bring legal action against the principals. http://ragingbull.lycos.com/mboard/boards.cgi?board=BB%3AGAXY&origsymbols=gaxy
Read a few of the posts and it will become apparent that several posters over there are principal members in Galaxy as both stillatim and scottgoldstein_1 being scott goldstein is.
If this investigation continues to hold water, I believe that we may see indictments and possibly prison sentences for certain officers and other members of the Corp. and associated businesses.
I understand that there is no activity on the Yellow Jacket/Phoenix property and that the road is in very bad shape. I was told some of the fence has been stolen and one of the tunnels is being used by Coyotes to hide smuggled illegal aliens in.
I would speculate that the principals are hanging on to what money is left to use for legal fees and defence attorneys.
Needless to say none of this is good news.