Tbone's Scam List

[rachelsdaddy]

THE MARYJANE GROUP. MJMJ. Nuff said

[rachelsdaddy]

GBSN maybe not quite a scam but certainly determined to destroy its shareholders.

[rachelsdaddy]

Wud up Tbone. FBEC, ECOB are some of the scammiest out there. Hurry back to GBSN, we miss you...

[KitchenRat]

SLNX run by con man Charles R Shirley is just trying to pretend he is in the MJ field, Nothing going on just fluff to sell shares. In 15 years never a successful business acquisition of venture. Just all hype.

[NYBob]

It's over for the banking cabal.
4.jul.2012

LIBOR scandal

Jim Rogers, War and the Financial Mafia -
LIBOR, Centrals Banks and JP Morgan!

Staggering Losses at J.P. Morgan; Banking Scandal in Britain

Banksters Crooked World Cartel and the Scamnet behind it "Government Collusion"

[Lone Clone]

Here's a great link to an article about avoiding mining scams.

http://www.cerm3.mining.ubc.ca/documents/areviewofrecentminingstockscams.pdf

LC

[Lone Clone]

These are the PennyStockChaser folks. Their website has been shut down

SEC Charges Two Canadians With Fraudulently Touting Penny Stocks on a Website, Facebook and Twitter
FOR IMMEDIATE RELEASE
2010-114

http://www.sec.gov/news/press/2010/2010-114.htm

Washington, D.C., June 29, 2010 — The Securities and Exchange Commission announced today that it has obtained an emergency asset freeze against a Canadian couple who fraudulently touted penny stocks through their website, Facebook and Twitter. The SEC also charged two companies the couple control and obtained an asset freeze against them.

According to the SEC's complaint, the defendants profited by selling penny stocks at or around the same time that they were touting them on www.pennystockchaser.com. The website invites investors to sign up for daily stock alerts through email, text messages, Facebook and Twitter.
Additional Materials

* Litigation Release No. 21580
* SEC Complaint

The SEC alleges that since at least April 2009, Carol McKeown and Daniel F. Ryan, a couple residing in Montreal, Canada, have touted U.S. microcap companies. According to the SEC's complaint, McKeown and Ryan received millions of shares of touted companies through their two corporations, defendants Downshire Capital Inc., and Meadow Vista Financial Corp., as compensation for their touting. McKeown and Ryan sold the shares on the open market while PennyStockChaser simultaneously predicted massive price increases for the issuers, a practice known as "scalping."

"As alleged in our complaint, McKeown and Ryan used all the modern methods to communicate with investors including the PennyStockChaser website, e-mail, text messages, Facebook, and Twitter yet failed to adequately communicate that their rosy predictions for touted stocks were accompanied by their sales of those very same stocks." said Eric I. Bustillo, Director of the SEC's Miami Regional Office.

The SEC's complaint, filed in the U.S. District Court for the Southern District of Florida, also alleges McKeown, Ryan and one of their corporations failed to disclose the full amount of the compensation they received for touting stocks on PennyStockChaser. The SEC alleges that McKeown, Ryan and their corporations have realized at least $2.4 million in sales proceeds from their scalping scheme.

The SEC's complaint charges McKeown, Ryan, Downshire Capital Inc. and Meadow Vista Financial Corp. with violating Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder. The SEC's complaint also charges McKeown, Ryan and Meadow Vista Financial Corp. with violating Section 17(b) of the Securities Act of 1933. In addition to the emergency relief already granted by the U.S. District Court the Commission also seeks a preliminary injunction and permanent injunction, along with disgorgement of ill-gotten gains plus prejudgment interest and the imposition of a financial penalty, penny stock bars against the individuals and the repatriation of assets to the United States.

In the course of its investigation, the SEC worked with the Quebec Autorité des marchés financiers (AMF), which was also investigating this matter. As a result of both ongoing investigations, the AMF obtained an emergency order freezing assets and a cease trade order against McKeown, Ryan, Downshire Capital Inc. and Meadow Vista Financial Corp. The SEC appreciates the collaboration with the AMF.

The SEC's case was investigated by Michael L. Riedlinger, Timothy J. Galdencio and Eric R. Busto of the Miami Regional Office. The SEC's litigation effort will be led by Christine Nestor, Amie R. Berlin and Robert K. Levenson. The SEC's investigation is continuing.

# # #

For more information regarding this enforcement action, contact:

Eric I. Bustillo
Regional Director, SEC's Miami Regional Office
[phone]

Glenn S. Gordon
Associate Regional Director, SEC's Miami Regional Office
[phone]


http://www.sec.gov/news/press/2010/2010-114.htm

[SilverEagle]

I gotta figure out how the hell I received the email alert on MINE today.

I see this as a 100% scam.

[Lone Clone]

SEC Charges Six Men In $300 Million Ponzi Scheme Involving Purported Gold Mining Investments

10 June 2010, 16:25 p.m.
By Kitco News

http://www.kitco.com/reports/wooten_SECjune102010.html

Washington -- (Kitco News) --The U.S. Securities and Exchange Commission on Thursday charged four Canadian men and two others living in Florida with perpetrating a $300 million international Ponzi scheme on investors in a purportedly successful gold mining operation.

The SEC alleges that Milowe Allen Brost and Gary Allen Sorenson of Calgary were the primary architects and beneficiaries of the scheme that persuaded more than 3,000 investors across the U.S. and Canada to invest their savings, retirement funds and even home equity. Brost and his sales team presented themselves as an independent financial education firm that had discovered profitable investment opportunities with companies involved in gold mining, the SEC said in a press release.

The statement also said they held seminars where they promised investors they could earn 18 to 36 percent annual returns by investing with these companies, and they claimed the investments were fully collateralized by gold.

Unbeknownst to investors, they were actually investing in shell companies owned or controlled by Brost or Sorenson, the SEC charged. The regulatory agency said investor funds were often transferred multiple times through numerous bank accounts held as far away as Asia, Europe and South America, and then ultimately used to make “interest payments” to investors, fund the few unprofitable companies that actually had operations, and personally enrich Brost, Sorenson and others involved in the scheme.

“Brost and Sorenson orchestrated a complex, far-reaching fraud disguised by a labyrinth of companies and foreign bank accounts they used to hide their misconduct from investors and law enforcement,” said Donald M. Hoerl, director of the SEC’s Denver Regional Office.

According to the SEC’s complaint, filed in U.S. District Court for the Western District of Washington, Brost and his sales team – called Structurists – sold investors shares in a series of shell companies. They then put their money through a “structuring” process that culminated with the transfer of funds from Syndicated Gold Depository (SGD) to Merendon Mining Corp. Ltd. – which was purportedly a successful gold mining and refining company that would pay investors out of its profits.

The SEC said Brost and Sorenson concealed their ownership and control of SGD by using personal aliases, corporate entities and trust agreements with nominee shareholders. Sorenson, who controlled Merendon, claimed to be a successful businessman receiving loans from SGD through arms-length transactions, according to the complaint. Sorenson hosted tours for potential investors at his Honduran refinery and demonstrated the pouring of gold bars while making false claims about the profitability of his company, the SEC said.

The SEC alleges that investor money whirled through accounts located in the U.S. and Canada as well as the Bahamas, Belize, Bermuda, Ecuador, Honduras, Malaysia, Panama, Peru, Portugal, and Venezuela. Brost and Sorenson diverted investor funds for their personal benefit, using millions of dollars to purchase and renovate extravagant homes, ranches, and recreational vehicles. Sorenson also purchased and outfitted a luxury fishing resort in South America.

The individuals charged in the SEC’s complaint in addition to Brost and Sorenson:

*

Larry Lee Adair of Fort Lauderdale, Fla.;Ward K. Capstick, a Canadian citizen who lives in Snohomish, Wash.; Bradley Dean Regier of Calgary; and Martin M. Werner of Boca Raton, Fla.

The SEC’s complaint charges four companies: SGD, Merendon Mining Corp. Ltd., Merendon Mining (Nevada) Inc., and the Institute for Financial Learning Group of Companies, Inc.

[Lone Clone]

Stanfield supporter embraces God, rejects columnist


By David Baines, Vancouver Sun May 29, 2010

http://www.vancouversun.com/news/Stanfield+supporter+embraces+rejects+columnist/3087220/story.html

There is, in my view, no substantive evidence that the Gallowai Bul River gold project near Cranbrook is economically viable.

As previously noted, Calgary promoter Ross Stanfield has raised $229 million from about 3,000 shareholders over the past three decades to develop the mine, and he has repeatedly assured them the mine is on the verge of production. But nothing ever seems to happen.

Last year, 12 dissident shareholders filed a petition in B.C. Supreme Court to oust Stanfield, but they lost the case. An appeal is underway.

Meanwhile, B.C. Securities Commission enforcement staff have asked the commission to order Stanfield to provide an independent report on the property. This seems sensible enough, but Stanfield still has many shareholders who resent outside intrusion -- either by regulators or reporters -- into what they view as their private concern.

One is Debby Raabel, a naturotherapist from Hinton, Alta.:

"I own shares in this mine and have been reading your articles. Are you related to any one of the Group of 12 dissidents? If not, does one of them hold shares in trust for you ...? Reading your one-sided vindictive articles on Bul River makes me think you have a very personal interest in this mine."

Now let me assure all readers that I have no interest in this matter other than as a journalist. When I asked Raabel what evidence -- other than Stanfield's representations -- she was relying on to support her belief that the property was economically viable, we moved into another galaxy:

"Now FAITH is the SUBSTANCE of things hoped for and the EVIDENCE of things not seen. Heb 11:1 AMEN and yes, yes, and yes I do live my life on faith and it's a glorious, joyful, peaceful life. ... Perhaps Jesus will return (and HE IS COMING SOON) before the mine produces anything, HALLELUJAH COME LORD JESUS!!!!"

What we have here is the very toxic mix of business and faith. I have learned there is a large contingent of devout Christians within the overall Gallowai Bul River shareholder group. While I respect their faith, I sincerely hope they use their calculators, rather than their Bibles, to make investment decisions.

Raabel asked whether I had taken a mine tour. I have not, and would not, simply because -- like most people -- I know nothing about geology and would be held hostage to whatever my tour guide told me.

But I do know somebody who took one, and here's what he had to say about it:

"Until the mine stopped conducting mine tours for existing shareholders and potential new investors, Eldon Warman was employed by the Stanfield Mining Group as the tour bus driver. On one such tour I was told quietly by Mr. Warman that the ore in the Gallowai mine was worth $20,000 per ton and that the Grand Mineral ore was worth $ 70,000 per ton.

"The conversation then wandered into the need for Mr. Stanfield to be very discreet about the mine's true wealth so as not to draw the attention of those who want to take it over. Over the years, shareholders have been regularly cautioned in the company's promotional material as well as by the sales reps about forces actively seeking to take over the mine."

I am quite familiar with Warman. He lives in Calgary and he's founder of Detax Canada, an organization that clings to the belief that the federal government cannot legally force citizens to pay taxes.

He is also grossly anti-Semitic. He complains about financial domination "by Zionist Jew banksters," and expresses regret that "we don't have a greater need for soap and lampshades."

There is no evidence that Stanfield shares these views, but it's difficult to believe he does not know about them. Warman is extremely provocative and has had well-publicized run-ins with police, the Canada Revenue Agency and the Canadian Human Rights Commission.

In addition to hyping investors on bus tours, Warman sent a letter to the Pincher Creek Echo in July 2008, complaining about the B.C. government's vetoing of a proposed mill that was purportedly going to process ore from the Gallowai Bul River deposit.

He alleged the cancellation was part of a conspiracy -- facilitated by government bureaucrats -- to "starve out" Stanfield so that they could hijack his mineral claims. Although there is no evidence that Stanfield knew about the letter, its contents are entirely consistent with his oft-repeated claims that government agencies and major mining companies are conspiring to usurp his project.

Last week, Warman weighed in again. He sent out an e-mail critiquing my column on BCSC enforcement staff's efforts to force an audit of the Gallowai Bul River property. It begins: "Attached is the latest David Baines article in The Vancouver Sun, with my comments. It is pretty obvious with whom this Jewish gentleman has his loyalties."

Aside from the fact that I'm not Jewish, his critique is filled with misrepresentations and outright lies. For example, he disputes the fact that Stanfield's former consulting engineer, Philip de Souza, was disciplined by his professional association for making unsupportable claims about the property. Rather, he says, de Sousa's reports were "understated to protect company proprietary information from those special interest groups who obviously covet the Stanfield Mining Groups' mineral claims." Such garbage.

Like Raabel, Warman believes I am "acting as a promoter" for the dissidents, who are trying to steal the property for themselves. Happily, there are some shareholders who take a more charitable view of the dissidents' campaign, and my reportage of it:

"Thanks, for your article in The Vancouver Sun," said Sandy Gakhal, an Edmonton professional engineer who is no longer a true believer. "I want to see Ross Stanfield held accountable. ... It's about time the securities commission stepped in."

[e-mail]

[Lone Clone]

Big Bear: Vancouver stock promoter Shane Whittle says "Go f--- yourself"


By David Baines, Vancouver Sun May 14, 2010 1:33 PM Comments (18)

http://www.vancouversun.com/business/Bear+Vancouver+stock+promoter+Shane+Whittle+says+yourself/3028689/story.html

Second of two parts

In Thursday's column, I reported that 34-year-old North Vancouver promoter Shane Whittle denied any involvement in setting up Big Bear Mining Corp., a Vancouver bulletin board company that has evolved into a horrendous U.S. penny stock promotion.

As earlier noted, Big Bear was a sham from the start. When it filed a registration statement with the U.S. Securities and Exchange Commission in 2006, it had a $1,000 mineral property, a nightclub bouncer as its president, and dummy shareholders who happily provided parking for the company's shares while they were being registered for resale.

In such deals, the game plan is not to find gold, but to get control of all the stock, which makes it very easy to control the share price. The net result is a publicly traded, tightly held shell company that's perfect for some future promotion.

Big Bear followed that pattern. One seed shareholder readily admitted to me that he acted only as a nominee. He said he neither paid for nor received his shares, he simply lent his name to affect a phoney distribution.

He also named Whittle as the person orchestrating the deal. Whittle adamantly denied this. "Go f---yourself," he said when I attempted to talk to him a few days ago.

Whoever was in charge, he or she didn't do anything to advance the company's exploration project. A full two and a half years after it filed its registration statement, the company hadn't spent a cent on exploration.

In September 2008, the person who was named as the company's president, Aaron Hall (a bouncer at the Stone Temple nightclub in downtown Vancouver), stepped down and was replaced by Dwayne Skellern.

Skellern was said to be a sales associate at Prudential Financial in Sherman Oaks, Calif. However, when I called that office this week, the receptionist said nobody by that name had worked there in the four years she had been there. But no matter. In March this year, Skellern was replaced by Steve Rix of Scottsdale, Ariz.

Rix is a financial motivational speaker who offers "practical solutions to experiencing greater professional achievement, financial success and personal fulfillment." Unfortunately, he does not practice what he preaches: A year ago, he declared bankruptcy with $5.8 million in liabilities against just $13,400 in assets.

According to company filings, Rix acquired Hall's controlling interest for $2,000. If true, that is an extremely cheap price for what appears to be a carefully groomed shell company. Before the financial meltdown, companies like this were selling for as much as $500,000 US each.

On April 6, Rix announced that Intosh Services Ltd. had agreed to buy $1.4 million worth of shares at 70 cents each over the next year. Proceeds would be used for property acquisitions. I have not been able to confirm that Intosh -- which is located in Mauritius, a well-known tax and secrecy haven in the Indian Ocean -- is a bona fide company.

Two days later, Rix announced that Big Bear had agreed to acquire an option on some mineral claims in Ontario's Red Lake district from a Manitoba property vendor named Perry English, who was acting on behalf of Vancouverbased Rubicon Minerals Corp.

It is interesting to note that two years ago, English, once again acting on behalf of Rubicon Minerals, vended some Ontario claims into Black Hawk Exploration Inc., a company closely associated with Whittle. I asked English whether Whittle was also involved in the Big Bear property deal, but he refused to answer any questions.

However they came about, these and other options in the Red Lake district that Big Bear acquired from English are now the basis of a ruthless stock promotion in the United States.

Last month, U.S. pen-for-hire James DiGeorgia, editor of the Gold & Energy Advisor newsletter, called Big Bear his "hottest stock pick in years ... I'm betting this $2 stock could hit $11 or more within just 60 days."

He said he was so convinced that Big Bear would be a winner that he was "sending out 1.5 million letters just like this one to investors all over the United States."

In a disclaimer at the bottom of his report, DiGeorgia disclosed that his newsletter is simply "paid advertising" and he received $10,000 as part of an overall fee of $900,000 paid by a private company, Treasure Cay Ltd., to cover the cost of creating and distributing the report. The disclaimer does not identify who owns Treasure Cay.

We have seen this sort of trash from DiGeorgia before, most notably in his promotion of another made-in-Vancouver bulletin board deal called Aberdene Mines Ltd. In that instance, he sprinkled his report with references to "rivers of molten gold" and gold nuggets "the size of potatoes." The company was later exposed as a scam.

Several days after DiGeorgia issued his report on Big Bear, credible news sources such as thestreetsweeper.organd Forbes magazine raised serious questions about Big Bear's veracity. ( Forbes wondered whether the company was selling fool's gold.)

Perhaps sensing regulatory repercussions, DiGeorgia reversed his "buy" to a "sell," but not before the stock roared from practically zero to a high of $1.75, giving it a total stock market value of $230 million US. (The stock has since slipped to 95 cents.)

Although control of Big Bear has officially passed to Rix, who lives in Arizona, the company still has ties to Vancouver. In a recent SEC filing, Big Bear's legal counsel was identified as Macdonald Tuskey, a Vancouver law firm that also acted for one of Whittle's bulletin board companies, Marley Coffee Inc. (Readers may also recall that Macdonald Tuskey acted for an unrelated Vancouver shell company called Trend Technology Corp., which earlier this year blossomed into a similar U.S. pump-and-dump scheme called Americas Energy Co.)

Meanwhile, Whittle floated a junior capital pool -- a kind of shell company -- called Big North Capital Inc. on the TSX Venture Exchange, along with two associates in his previous bulletin board deals, Garrett Ainsworth and Sterling McLeod. Controversial Howe Street promoter Frank Callaghan is also a director.

Big North has yet to acquire a business. TSXV officials would be well advised to monitor this company closely.

[e-mail]

[Lone Clone]

BIG BEAR MINING Boss' Claims Contradicted By SEC Filing
Christopher Steiner, 04.29.10, 05:14 PM EDT
Bankrupt CEO got millions in shares; others paid to tout the stock.

http://www.forbes.com/2010/04/29/pump-and-dump-personal-finance-mining-gold.html?partner=yahootix

BIG BEAR MINING Chief Executive Steve Rix's claims earlier this week that he owns no shares in the company have been contradicted by a newly released Securities & Exchange Commission filing.

BIG BEAR MINING, which began trading in copious volumes last week, has continued changing hands at a furious rate. So furious, in fact, that the Scottsdale, Ariz., firm with no revenues has become one of the week's most heavily traded over-the-counter stocks. That, and a bevy of paid promoters--including one who was paid $10,000 and has since rescinded his recommendation--appear to have made Rix a rich man. (See: "Is BIG BEAR MINING Selling Fool's Gold?")

BIG BEAR ( BGBR.OB - news - people ), with no revenues or any imminent likelihood of any, nevertheless boasted a market value of $165 million as of April 29. Reached on April 22, Rix said he had no ownership stake nor any compensation agreement with the company and thus had not benefited personally from the stock's rise. It's an odd claim, considering Rix is BIG Bear's sole employee and director.

An SEC Form 8-K released this week contradicts Rix, stating that on April 19, three days before Rix spoke to Forbes, he received 30 million shares of the company for a total of $2,000. The market value of those shares was then $38 million; they're now worth slightly less, at $36 million. Rix did not return calls from Forbes seeking comment on the SEC filing.

The man who supplied the stock to Rix was the company's founder, Aaron Hall, who, according to SEC filings, was a bouncer at Stone Temple, a Vancouver, B.C. nightclub.

As for MINING experience, Rix doesn't seem to have any. His personal website states that his previous professional activities included telemarketing campaigns for churches, installing a chaplaincy at an Arizona prison, operating a scuba shop and involvement "in starting up and owning" Blu Financial Network, a dormant venture capital company.

Rix's website allows interested parties to sign up for the "Rix Fix," which is "for young millionaires in the making." If Rix was ever a millionaire before his BIG BEAR windfall, however, he lost it all; the CEO declared personal bankruptcy in 2009.

BIG Bear's popularity with penny stockpickers may be related to payments made by two companies to promoters. An outfit called Treasure Cay Limited spent $900,000 mounting a direct mail campaign promoting BIG BEAR, according to disclosures contained at the bottom of its promotional material. That included a $10,000 "editorial fee" paid to James Digeorgia, who previously recommended the stock, it added.

"Based on new information I received in the last 24 hours that I was not presented with when I initially reviewed and recommended the stock, I believe it would be in the best interest of any investor holding shares in this company to sell them," Digeorgia said in a statement released April 27.

Digeorgia, whose website is anchored by a signed picture of himself, runs a newsletter called the Gold & Energy Advisor. He did not return calls from Forbes.

A company called Mennen Creative Limited paid two stock pickers, Jason Kelly and Michael Cohen, $57,500 each for their roles in endorsing the stock for six weeks, according to the mailing. Both men sent out messages aimed at creating buzz for their upcoming picks during the weeks leading up to their release.

Cohen said he'd retire as a stockpicker if BIG BEAR didn't triple after his pick. Rix told Forbes last week he'd never heard of Kelly nor Cohen, both of whom work for a Seattle company called Global Marketing Corporation.

BIG BEAR lists its address in Scottsdale on its website and on SEC documents. But calls to Rix were picked up by a communal secretary who handles calls for 40 other companies at a set of office suites in Tempe. Rix, the secretary said, has been there for a month in a one-room office that comprises the entirety of BIG BEAR Mining's facilities.

[Lone Clone]

Is Big Bear Mining Selling Fool's Gold?
Christopher Steiner, 04.22.10, 12:20 PM EDT
Tiny precious metals firm's stock jumps under bankrupt CEO.
pic

http://www.forbes.com/2010/04/22/pump-and-dump-personal-finance-gold-mining.html?partner=yahootix

It's been an extraordinary week for Big Bear Mining, a gold prospecting outfit based in Scottsdale, Ariz. Despite having zero revenue during its five years in existence, and no immediate likelihood of generating any, the company's market value reached an astounding $230 million on Wednesday.

This is especially notable, given that there's no record of Big Bear's ( BGBR - news - people ) shares ever trading publicly prior to March 12, when 20,000 shares changed hands. After starting this week at around $1 per share, Big Bear's stock jumped as high as $1.68 on Wednesday, when 17 million shares changed hands at one cent a share.

Running Big Bear is Steve Rix, who joined last month and is now its chief executive, chief financial officer, president, treasurer and secretary. Rix is also Big Bear's sole employee, as well as its one-man nominating, corporate governance, audit and compensation committees. What does Rix think is behind Big Bear's sudden popularity?

"We're finally doing things now," he says, conceding that "there's some irrational exuberance out there."
In Pictures: 10 Ways To Spot A Pump-And-Dump Scam

By "doing things," Rix is referring to new financing and claims purchases. Hype appears to be playing a role as well. The company has put out a flurry of press releases in recent days. One last week announced that Big Bear had acquired for an undisclosed price a mine in Ontario that last operated in 1937. A proclamation this Monday revealed an agreement to buy an additional 96 acres of Ontario claims.

This Tuesday Big Bear reported the addition of "renowned geologist" John Glasscock to its board. Glasscock, who works for Cowboy Exploration in Jelm, Wyo., did not return a call seeking comment.
Related Stories

Rix's own background is a bit better known. He declared personal bankruptcy last year under Chapter 7 of the bankruptcy code because of what he calls "business deals gone bad." Before that, Rix says he spent 25 years "making a living going into new industries and revolutionizing how they approach marketing, investor relations and raising capital."

Rix was hired at Big Bear by his predecessor, Dwayne Skellern, a salesman at Prudential Financial ( PRU - news - people ) until 2009, according to SEC documents. As to why Skellern left Big Bear, Rix says "Who knows?"

Some supporters of the stock are clearly not bothered by any of this. They include Michael Cohen and Jason Kelly. The duo works for Global Marketing Corp. in Seattle. Cohen's investing muse is a website called doublingstocks.com and Kelly's is daytradingrobot.com. Kelly and Cohen for months have been beating their drums about a "big pick" to come. Kelly disclosed it to be Big Bear on April 19, and Cohen did so Thursday morning (Apr. 22).

In Cohen and Kelly's view Big Bear's stock is poised to triple from its recent range. What's their connection to Rix? None, says the Big Bear CEO, who claims to know neither Cohen nor Kelly.

Rix also can't explain a Jan. 20 deal in which Big Bear sold 250,000 shares for 20 cents each--the very day before it carried out a 50-for-1 split. The 250,000 shares Big Bear sold in January for $50,000 were worth more than $20 million on Wednesday. Nothing like a 400-fold return in less than three months. Berkshire Hathaway's ( BRK - news - people ) Warren Buffett would be proud of such returns.

"That was before I got here," Rix says of the sale and split. "I put some e-mails out on that, but I haven't gotten it figured out yet."

Another thing that's hard to figure is Rix's claim that he has no ownership in Big Bear. His stake, he says, is still being negotiated with his predecessor Dwayne Skellern--the same guy whose departure Rix can't explain.

Rix does say he's landed promises of $1.4 million in working capital from outside investors. That's big money to an outfit like Big Bear, which has incurred only $56,268 in expenses during its five years in existence and had $1,317 in the bank at the end of 2009.

To hear Rix and Big Bear's stock-picking backers tell it, about the only thing standing between investors in the company and vast riches is the weather.

"Rain and snow may make the road leading to our property impassable," Big Bear stated in a Securities & Exchange Commission filing. "This will delay our proposed exploration operations and could prevent us from working."

For now, the market's putting a $230 million value on Rix's one-man show. That compares to a market value of $6.4 million for each of mighty Apple's Computer ( AAPL - news - people ) 34,300 employees.
If that makes sense for you, go ahead and invest in what has all the signs of fool's gold.

[Lone Clone]

ATW Gold (ATW.v): What can it all mean?

http://incakolanews.blogspot.com/2010/04/atw-gold-atwv-what-can-it-all-mean.html

The scumball fraudster front-running piece of crap Graham Harris bails even more:

 
 ATW Gold Corp. (ATW) 
 	As of April 15th, 2010 
 Filing Date 	Transaction Date 	Insider Name 	Ownership Type 	Securities 	Nature of transaction 	# or value acquired or disposed of 	Unit Price 
 Apr 15/10 	Apr 09/10 	Harris, Graham 	Direct Ownership 	Common Shares 	10 - Disposition in the public market 	-194,500 	$0.140 
 Apr 15/10 	Apr 07/10 	Harris, Graham 	Direct Ownership 	Common Shares 	10 - Disposition in the public market 	-5,500 	$0.150 
 Apr 15/10 	Apr 05/10 	Harris, Graham 	Direct Ownership 	Common Shares 	10 - Disposition in the public market 	-300,000 	$0.160 
 Apr 15/10 	Apr 12/10 	Harris, Graham 	Direct Ownership 	Common Shares 	10 - Disposition in the public market 	-50,000 	$0.140 
 Apr 15/10 	Apr 05/10 	Harris, Graham 	Direct Ownership 	Common Shares 	10 - Disposition in the public market 	-50,000 	$0.155 
 Apr 15/10 	Apr 01/10 	Harris, Graham 	Direct Ownership 	Common Shares 	10 - Disposition in the public market 	-100,000 	$0.160 
 

Let's remember that the above is the tip of a very dirty and illegally run iceberg. Let's also note that the OSC hasn't said a word about the illegal, frontrunning, late filing activities of Graham Harris and of the other scumball insider dealers at ATW.v. And finally let's remember what that other twisting scumball Peter 'Holier Than Thou' Grandich said about Graham Harris way back when these two were in cahoots and fobbing worthless paper off to the masses:

I’ve known Graham Harris, one of ATW’s Directors, for almost 20 years. He’s always been a straight shooter, particularly when he was in the financial arena, and finding a straight shooter in the financial arena is like finding a needle in a haystack. So I’ve always had confidence in his honesty. He was very excited about this project. He brought me in about a year ago; it just keeps being advanced. We should be in production there in short order.

[mercurialmike]

just found out about stock called ivob. it's on wikiinvest. it's supposedly paying a retainer of 1 mill shares or restrict stock to a firm (unknown)

[funnymoney1]

Jeff Galpern Miracle Applications MIRA
SCAMMER LIAR CONMAN

[Lone Clone]

Farewell, Constitution Mining (CMIN.ob), it was fun while it lasted

http://incakolanews.blogspot.com/2010/03/farewell-constitution-mining-cminob-it.html

Hey, remember that thing called Constitution Mining (CMIN.ob), the utter scam that tried to sell underwater river dredging alluvial gold mining in Peru? Well, it seems like their cunning plan has hit a small roadbump, as Peru has just banned the very same dredging ships from dredging riverbeds due to the large-scale environmental damage caused by this process.


The ban so far only applies to the Madre de Dios river and not the Marañon river where CMIN fakes its projected operation, but that's only cos there aren't any operating dredgers on the Marañon. However, the chances of Peru allowing one Amazonian river to be screwed forever by scumbags while at the same time banning scumbags on another river are as high as the hole in your posterior has of healing up in the next week or so.

And thus we wave goodbye to Constitution Mining. You guys were great for a laugh and kept us entertained for nigh on a year, but all good things come to an end. Adios amigos, hasta nunca cabrones de mierda.

[Lone Clone]

Catching up with the Constitution Mining (CMIN.ob) scam

http://incakolanews.blogspot.com/2010/03/catching-up-with-constitution-mining.html

We haven't had a good laugh about Constitution Mining (CMIN.ob) for a few weeks, but the news received this morning makes it worth our while. Back on October 5th, IKN ran this post that featured the CMIN news release du jour in this way:

LIMA, PERU--(Marketwire - Oct. 5, 2009) - Constitution Mining Corp. (OTCBB:CMIN - News) has appointed Mr. Gary Artmont of Quito Ecuador, to serve as the new President and Chief Executive Officer of the Company replacing Willem Fuchter. In addition, Steve McMullan has joined the Board of Directors and Dr. Richard Garnett has been named Senior Technical Field Coordinator.


Well, oddly enough it seems that one of those named is pretty keen on getting his name cleaned of all connection with CMIN. This morning the following comment was left under that post by the abovementioned Dr. Richard Garnett. Here's the whole comment:

"Those interested should note that I visited Constitution's exploration site in Peru on 10 through 13 October, 2009. I reported my technical findings in writing to the then CEO of the company on 25 October, after which date I terminated all direct involvement with the project. Richard Garnett"


We are of course assuming that the person who wrote that is indeed Richard Garnett and not someone trying to play some trickydicky headfake on us. But assuming truth as written (which is 99.9% certain, cos as well as the ring of truth about the comment the IP address of the commenter matches Garnett's hometown....yeah I checked) there's little doubt that the above is a really damning thing to write about a former employer. Remember, IKN is the annoying little blog that toldya so about this scam.

[Lone Clone]

ATW Gold (ATW.v): So what are these self-serving crooks up to now?

http://incakolanews.blogspot.com/2010/03/atw-gold-atwv-so-what-are-these-self.html

Here are the latest inside filings from ATW Gold (ATW.v), with frontrunning criminal scumbag Bowering and frontrunning criminal scumbag Harris both buying back stock recently sold at nearly double the price. Going for the Hail Mary, Andy?

ATW GOLD CORP. (ATW) 
  
 As of March 12th, 2010 
 Filing Date	 Transaction Date	 Insider Name	 Ownership Type	 Securities	 Nature of transaction	 # or value acquired or disposed of	 Unit Price 
 Mar 12/10	 Mar 11/10	 Harris, Graham	 Direct Ownership	 Common Shares	 10 - Acquisition in the public market	1,000,000	 $0.085 
 Mar 12/10	 Mar 11/10	 Bowering, Andrew William	 Direct Ownership	 Common Shares	 10 - Acquisition in the public market	1,000,000	 $0.085 
 Mar 12/10	 Mar 08/10	 Bowering, Andrew William	 Direct Ownership	 Common Shares	 10 - Disposition in the public market	-99,300	 $0.145 
 Mar 05/10	 Mar 02/10	 Harris, Graham	 Direct Ownership	 Common Shares	 10 - Disposition in the public market	-200,000	 $0.145 
 Mar 01/10	 Feb 25/10	 Bowering, Andrew William	 Direct Ownership	 Common Shares	 10 - Disposition in the public market	-38,000	 $0.150 
 Mar 01/10	 Feb 24/10	 Bowering, Andrew William	 Direct Ownership	 Common Shares	 10 - Disposition in the public market	-162,000	 $0.150 
 Mar 01/10	 Feb 17/10	 Bowering, Andrew William	 Direct Ownership	 Common Shares	 10 - Disposition in the public market	-192,500	 $0.160 
 Feb 23/10	 Feb 23/10	 Harris, Graham	 Direct Ownership	 Common Shares	 10 - Disposition in the public market	-161,667	 $0.150 
 Feb 23/10	 Feb 17/10	 Harris, Graham	 Direct Ownership	 Common Shares	 10 - Disposition in the public market	-3,000	 $0.170 
 Feb 23/10	 Feb 16/10	 Harris, Graham	 Direct Ownership	 Common Shares	 10 - Disposition in the public market	-36,000	 $0.170 
 

These people belong in jail, but thanks to the toothless and impotent OSC the only place you're likely to see them is in a car showroom, buying up another fancy SUV. True scum.

[speedyashton]

Has any one heard of ERP & associates or equity-research partners. I have been contacted by them and think there a boiler room scam.

[Lone Clone]

Dorato Resources (DRI.v): A total coincidence, of course

http://incakolanews.blogspot.com/2010/02/dorato-resources-driv-total-coincidence.html

Yesterday this humble corner of cyberspace made mention of a horrendously bad pump piece in this week's edition of Northern Miner about Dorato Resources (DRI.v). Totally biased, unable to address the long-standing social issues that have now come to a head and only getting opinion from one side of the story, it was a shameful piece of hackery (I'd reprint here but NM get all bolshy and nasty about their copyright protection). It also came at the same time as the rise in DRI.v stock, which was full of rather dubious market action with a whole bootload of smallish "seller anon" "buyer anon" trades, all with the same volumes and coming within moments of each other all the way from 65 to 75c.....which then prompty disappeared. Y'know...nothing you can put your finger on in a legal sense but the typical HenksWhores kind of action.

So it was amazing, incredible, spooky and coincidental to discover the background of the IR guy over at Dorato. Here's the payline:

Steve Stakiw
Position: Manager - Corporate Communications
Steve is a geologist and has been involved in many facets of the mining and mineral exploration industry, both in Canada and internationally, for more than 20 years. In addition to several years in the field, he has research and finance market experience and was involved in the formation of an industry-leading mining information service. Steve's diverse range of experience also includes serving as the western editor of The Northern Miner from 2006 to 2008.

So, the rescinding of licences is ignored by the world of Canadian markets because the brokerage analysts and investment advisors were let in on the sweetheart 60c offering. (See http://incakolanews.blogspot.com/2010/02/tide-is-out.html ) Then the only coverage of the DRI saga in the main mining press up there is an abysmal pump piece in Northern Miner. And it turns out the IR dude at DRI.v is a NM old boy.

Are these facts somehow related? Inquiring minds etc...........

[Lone Clone]

ATW Gold (ATW.v): Harris flushes the toilet

http://incakolanews.blogspot.com/2010/02/atw-gold-atwv-harris-flushes-toilet.html

On November 25th, Graham Harris, Chairman and conman of ATW Gold (ATW.v) said this about the so-called "strategic review" going on at his trainwrecked company that was put in the hands of Haywood Securities and designed to get as much value out of its remaining assets as possible:

"We are pleased to have Haywood Securities act as financial advisor during the strategic review of our Australian assets. Haywood's in-depth understanding of the global gold mining industry along with their extensive industry contacts will ensure maximum shareholder value is realized."


Thus today's insider filings can only be assumed as the scumball Harris's idea of gaining 'maximum shareholder value' for his own greedy screw-you-all self.

 
 ATW Gold Corp. (ATW) 
 	As of February 23rd, 2010 
 Filing Date 	Transaction Date 	Insider Name 	Ownership Type 	Securities 	Nature of transaction 	# or value acquired or disposed of 	Unit Price 
 Feb 23/10 	Feb 23/10 	Harris, Graham 	Direct Ownership 	Common Shares 	10 - Disposition in the public market 	-161,667 	$0.150 
 Feb 23/10 	Feb 17/10 	Harris, Graham 	Direct Ownership 	Common Shares 	10 - Disposition in the public market 	-3,000 	$0.170 
 Feb 23/10 	Feb 16/10 	Harris, Graham 	Direct Ownership 	Common Shares 	10 - Disposition in the public market 	-36,000 	$0.170 
 

As noted in previous posts, ATW.v insiders Harris, Andrew Bowering and Luke Norman would all be in jail for previous frontrunning insider sales if there were any inkling of justice in the Canadian capital markets, so the latest round of MeFirstness should come as no big surprise. Neither is the non-action of Kidder and company over at the pathetic and laughable OSC.
Labels: atw gold, graham harris, insider selling

[Lone Clone]

ATW Gold (ATW.v): Andrew Bowering joins our role call of shame

http://incakolanews.blogspot.com/2010/02/atw-gold-atwv-andrew-bowering-joins-our.html

We already know about the frontrunning scamsters at ATW Gold (ATW.v) named Luke Norman and Graham Harris. We also know about the impunity of the bullshit pumpers like Peter Grandich who led their flocks, piedpiper-like, over the abyss of this scam but now simply whistle loudly and pretend they didn't issue such awful advice on this stock.

So it's time to wheel out the next member of the ATW band of crooks, insider Andrew Bowering. Here are all the filings for Bowering dated Jan 1st 2008 onwards.

 
 Insider name: Bowering, Andrew William 
 code 	Trans Date 	File Date 	nature of transaction 	amount 	price 	Shares held 
 1323207 	2008-11-19 	2008-11-25 	10 - Acquisition or disposition in the public market 	-20,000 	0.32 	2,304,958 
 1323213 	24/11/2008 	25/11/2008 	10 - Acquisition or disposition in the public market 	-15,000 	0.36 	2,289,958 
 1323219 	24/11/2008 	25/11/2008 	10 - Acquisition or disposition in the public market 	-12,500 	0.38 	2,277,458 
 1323221 	24/11/2008 	25/11/2008 	10 - Acquisition or disposition in the public market 	-10,000 	0.37 	2,267,458 
 1323224 	24/11/2008 	25/11/2008 	10 - Acquisition or disposition in the public market 	-10,000 	0.35 	2,257,458 
 1323246 	24/11/2008 	25/11/2008 	10 - Acquisition or disposition in the public market 	-5,000 	0.36 	2,252,458 
 1323226 	25/11/2008 	25/11/2008 	10 - Acquisition or disposition in the public market 	-12,500 	0.375 	2,239,958 
 1323245 	25/11/2008 	25/11/2008 	10 - Acquisition or disposition in the public market 	-5,000 	0.37 	2,234,958 
  
 1574808 	23/06/2009 	09/02/2010 	10 - Acquisition or disposition in the public market 	-40,000 	0.75 	2,194,958 
 1473403 	14/07/2009 	27/08/2009 	10 - Acquisition or disposition in the public market 	-30,000 	0.64 	2,164,958 
 1574802 	15/07/2009 	09/02/2010 	47 - Acquisition or disposition by gift 	-100,000 	 
 	2,064,958 
 1473406 	20/07/2009 	27/08/2009 	47 - Acquisition or disposition by gift 	-300,000 	 
 	1,764,958 
 1574805 	20/07/2009 	09/02/2010 	10 - Acquisition or disposition in the public market 	-5,000 	0.6 	1,759,958 
 1574798 	11/08/2009 	09/02/2010 	47 - Acquisition or disposition by gift 	-50,000 	 
 	1,709,958 
 1473408 	19/08/2009 	27/08/2009 	10 - Acquisition or disposition in the public market 	-20,000 	0.54 	1,689,958 
 1574793 	19/08/2009 	09/02/2010 	47 - Acquisition or disposition by gift 	-100,000 	 
 	1,589,958 
 1473409 	26/08/2009 	27/08/2009 	10 - Acquisition or disposition in the public market 	-20,000 	0.56 	1,569,958 
 1574791 	27/08/2009 	09/02/2010 	10 - Acquisition or disposition in the public market 	-100,000 	0.54 1,469,958 
  
 1574786 	12/11/2009 	09/02/2010 	47 - Acquisition or disposition by gift 	-200,000 	 
 	1,269,958 
 1553593 	05/01/2010 	08/01/2010 	10 - Acquisition or disposition in the public market 	-20,000 	0.2 	1,249,958 
 1578334 	09/02/2010 	16/02/2010 	10 - Acquisition or disposition in the public market 	-29,000 	0.16 	1,220,958 
 1578335 	09/02/2010 	16/02/2010 	10 - Acquisition or disposition in the public market 	-152,500 	0.16 	1,068,458 
 1578336 	09/02/2010 	16/02/2010 	10 - Acquisition or disposition in the public market 	-18,500 	0.165 	1,049,958 
 

At first he sells some 70,000 shares in small lots at end 2008...pretty normal. But then check out the trades highlighted in red. [Note: I couldn't keep the red so I separated out these ones via inserting a blank line.] Starting late June (when the news of the company-killing problems at their Aussie mine must have started filtering through to board level) Bowering starts disposing stock bigtime. Between June and August 2009, and just before the date when ATW.v went public with its enormous production problems and killed that immediately stock price, Bowering got rid of 725,000 shares. Also, note those lines marked "disposition by gift", WTF is all that about? A gift to whom? Right in the middle of heavy inside selling, a capitalist pig trying to bail as much as he can out of a company suddenly goes all philanthropic on us and gives shares away? Jeeesh dude, you must think we were born yesterday! Mr. Bowering, would you care to voluntarily disclose exactly who was the beneficiary of this largesse?

What's even more impressive is that bar two 20,000 share trades, every single transaction was late filed by Bowering. In fact, those two small but correctly filed trades speak their own volumes, as it shows Bowering was perfectly aware of the rules and what he should have done with his filings. But no, he simply chose to ignore the rules and do what the hell he wanted on the vast bulk of the selling, else draw attention to his massive share disposal that might put the stock under pressure.

Exactly the same tactics used by the other scumball insider sellers at ATW.v, Luke Norman and Graham Harris. Illegal, frontrunning sales made due to knowledge of the imminent death of the company and trades that were not disclosed to the public until after the fact. And surprise surprise, a quick look at Andrew Bowering's inside filings connects him to the company "Tribune" that's also knee-deep with the scamsters Norman and Harris as explained on Sunday.

With crud like these people at managerial level retail investors have no chance of making winning trades. Where is the OSC and why isn't it crawling all over on these scandalous operators?

[muaythai]

Thanks , I know you'll do a good job. Oh say.Check it out.Gold cures cancer now.

http://www.azonano.com/news.asp?newsID=15920

[Lone Clone]

ATW Gold (ATW.v): Thick as thieves

http://incakolanews.blogspot.com/2010/02/atw-gold-atwv-thick-as-thieves.html

Luke Norman
...and Graham Harris.

One is a frontrunning scumbag, and the other is a frontrunning scumbag.

In the post on Friday entitled "Graham Harris: Another day another Canadian rip-off" we noted how Harris, chairman at ATW Gold (ATW.v), decided to frontrun the company-breaking news released on September 18th by selling stock before the news was dissminated to the public and then ignoring rules about disclosure of insider trading by not filing the report until a full five months after the fact.

We then went on to warn people that Harris was the head honcho at Tribune Resources (TNR.f), but that part had a couple of mistakes in it. Firstly, the company has changed its name (gotta cover them tracks, boyz) and is now called 'Tribune Minerals'. But the second mistake turns out to have uncovered a doozy, as A. Reader sent in the latest MD&A of Tribune and pointed out who the new CEO is. Here's the line from the MD&A:

On September 24th, 2009 Luke Norman joined the board of Directors, and was appointed President and CEO.

Yes indeedy folks! Luke Norman, the other frontrunning scumbag from ATW Gold that sold his shares when he knew about the disaster about to hit, didn't tell anyone and then promptly resigned from the company, has taken over the helm at Tribune. Talk about thick as thieves! So let's check over the common points between Graham Harris and Luke Norman:

They both worked at Canaccord.

They both resigned to take up the junior mining game.

They both worked at ATW Gold.

They both reacted to the news of impending disaster like rats, selling their stock before any public disclosure and not disclosing their insider trades until well after the fact.

They now work together to promote their new gig, Tribune.

They are both utter assholes and belong in jail.


For more on the criminal scam known as ATW Gold and great exposés of the bullshit pumphouse newsletter writers that promo'd this dog to their massed audiences, check out the great blog "atwgold's blog". Make sure you scroll to the bottom to get the full experience.

[Lone Clone]

No probs -- I will apply for the position.

LC

[muaythai]

I've started working offshore again , and simply do not have internet acess to merit moderating this board.As such I'm stepping down.Thanks for your help.I consider you a friend.The job is open if you want it.MT

[Lone Clone]

Graham Harris: Another day, another Canadian ripoff

http://incakolanews.blogspot.com/2010/02/graham-harris-another-day-another.html

Graham Harris: Is it possible to shame the shameless?

Interesting to note the insider filings of ATW Gold (ATW.v) Chairman Graham Harris today:

 
 10 - Acquisition or disposition in the public market 	-21,000 	0.52 	-10920 
 10 - Acquisition or disposition in the public market 	-79,000 	0.51 	-40290 
 10 - Acquisition or disposition in the public market 	-100,000 	0.27 	-27000 
 10 - Acquisition or disposition in the public market 	-50,000 	0.21 	-10500 
 10 - Acquisition or disposition in the public market 	-19,000 	0.22 	-4180 
 10 - Acquisition or disposition in the public market 	-31,000 	0.22 	-6820 
 10 - Acquisition or disposition in the public market 	-55,500 	0.22 	-12210 
 10 - Acquisition or disposition in the public market 	-4,000 	0.22 	-880 
 10 - Acquisition or disposition in the public market 	-40,000 	0.18 	-7200 
 10 - Acquisition or disposition in the public market 	-82,000 	0.18 	-14760 
 10 - Acquisition or disposition in the public market 	-13,000 	0.17 	-2210 
 10 - Acquisition or disposition in the public market 	-100,000 	0.165 	-16500 
 10 - Acquisition or d

isposition in the public market -5,000 0.185 -925


The Harris guy has managed to dump nearly 600,000 shares on the market in the last five months and pocketed gross proceeds of $154,395, most of them a mile outside the normal disclosure period for insider transactions. But especially noteworthy are those first two sales (which aren't on the cad insider page, cos they only carry the last 10 transactions; to see the first two you need to go over to sedi dot ca) made on Sept 11th 2009, one week BEFORE his company released the news on its trainwreck mine in Australia that dumped the stock forever and ever amen.

Total impunity once again. The Chairman of the company, who knew the crap that was about to go down, dumps his stock before shareholders find out what's going on and can't be bothered to tell anyone for five months. For this the OSC will slap his wrist with the normal $1,000 fine (which he'll be able to pay in cash straight from his wallet when the time comes).

So let's check Harris's credentials: Oh looky! He's an ex-VP at the can of corn! What a surprise, the same house of education as like the other guy who jumped the ATW.v ship before anyone else got to hear the bad news, Luke Norman.

Meanwhile, let's check in on what arch-bullshit pumper Peter Grandich said about Graham Harris in February 2009:

"I’ve known Graham Harris, one of ATW’s Directors, for almost 20 years. He’s always been a straight shooter, particularly when he was in the financial arena, and finding a straight shooter in the financial arena is like finding a needle in a haystack. So I’ve always had confidence in his honesty."

Wow! Two assholes for the price of one!

Graham Harris is also the big honcho at Tribune Resources (TNR.f), a €0.52 stock over on the Frankfurt exchange. You have been warned, my Teutonic friends.

[Lone Clone]

B.C. regulators must stop Gallowai Bul River nonsense


By David Baines, Vancouver SunFebruary 12, 2010

http://www.vancouversun.com/regulators+must+stop+Gallowai+River+nonsense/2554649/story.html

Is the Gallowai Bul River gold project near Cranbrook as rich as promoter Ross Stanfield claims it is?

After raising more than $220 million from nearly 4,000 investors over the past three decades, why isn't the mine in production?

I say the B.C. Securities Commission should force Stanfield to obtain an independent audit of the property to determine what is there, and what is not there.

Over the years, there have been many red flags. For example, in December 1999, the Alberta Securities Commission alleged Stanfield and his companies, Gallowai Metal Mining Corp. and Bul River Mineral Corp., had misrepresented the project in offering documents. However, in January 2001, the commission withdrew its allegations and cancelled the planned hearing into the matter.

The ASC did not provide any reasons, but it's possible the commission decided that the source of the problem was Stanfield's consulting mining engineer, Philip de Souza, who had authored exploration reports included in the offering documents.

De Souza was a member of the Association of Professional Engineers and Geoscientists of B.C. and its sister organization in Alberta. APEG BC initially took on the case, then handed it to the Alberta association, because de Souza lived in that province.

APEG Alberta began its investigation in July 2001, but for reasons that were never explained, there were lengthy delays. A hearing wasn't held until February 2006, and a decision wasn't rendered until July 2007.

The panel found that, from 1993 to 1997, de Souza's exploration reports:

- Did not include adequate and relevant exploration data to support the opinions and findings expressed in the report;

- used methods to calculate resource estimates that "were not appropriate and the estimates were therefore suspect";

- portrayed the project "as being more advanced than was actually the case"

- omitted significant other recent assay data.

The panel also determined that an evaluation report in which de Souza projected a share value of $150 had been "based on reserve numbers at a time when economically recoverable reserves had not been determined."

These were damning findings, but the punishment was relatively mild. The panel ordered de Souza to pay a $5,000 fine and $12,981 in costs. And his work was subject to audit for two years.

The panel also ordered that its decision be published in the association's magazine, which is circulated to members only. It was not circulated to, or published, in any daily newspapers.

In August 2007, a month after the decision was rendered, de Souza resigned. But Stanfield, who was busy raising more money, didn't provide any explanation to shareholders until May 2008, by which time a group of unhappy investors was pressing for more information.

In a letter to shareholders, Stanfield soft-pedalled the disciplinary action against de Souza. He pointed out that APEG Alberta did not allege the reports were "wrong or misleading or biased," just that de Souza had failed to provide enough supporting information in his actual reports.

That is quite correct, but it is also clear from the panel's decision that adequate supporting information did not exist for many of the key representations that de Souza had made in his reports.

The B.C. Securities Commission, meanwhile, was keeping a close eye on the project. And what they were seeing was not pretty.

In December 2001, Gallowai and Bul River filed another offering memorandum. This time, it included a technical report by professional engineer John D. Morton.

"In contrast to the previous OMs, this one does not contain the heavy promotional references to gold," BC-SC mining consultant Terry Macauley said in a June 14, 2002, internal memo, referring to de Souza's earlier reports. However, he said Morton had incorrectly stated the report complied with National Instrument 43-101, a newly instituted set of rules governing mineral disclosure.

"The main shortcoming in the present report is the substantial lack of documentation of results of all the work by the Stanfield companies over the past 25 years, stated ... to have cost approximately $60 million."

He added: "The scale of exploration being recommended at Gallowai Bul River and the other portions of the property is way in excess of what is justified by the results stated in this report. A $14.6-million expenditure in the vicinity of the mine, and another $7.7 million on the other prospects, cannot be justified without adequate documentation, verification and success-contingent phases."

In another internal memo dated Oct. 8, 2002, Macaulay said he had received a 129-page fax from Stanfield's law firm, Macleod Dixon LLP. According to a cover letter, it purported to contain "representative unpublished data" that "demonstrates the ongoing work which Gallowai Bul River is undertaking." However, Macaulay noted, "The material consists entirely of laboratory reports of test work done on samples by Gregory J. Iseman."

He said an official with the U.S. Department of the Interior in Arizona told him he had been "making an extensive effort to identify mining properties used in scams and also those assay labs and technical people that are involved. He tells me that Iseman is at one of the group of labs that provided fictitious data showing appreciable amounts of gold, platinum, or whatever."

Macaulay concluded: "As I have previously said, it would require having a professional metallurgist or assayer evaluate all the material like this to get an authoritative opinion that could be used in a hearing. But I have little doubt that he would tell us that all this test work is rubbish."

In May 2001, after the ASC dropped its enforcement action against him, Stanfield told investors he was "in the midst of a major geological and assay appraisal of our Gallowai Bul River property." However, he said new rules governing mineral disclosure (National Instrument 43-101, which had been implemented the previous year) "limit our ability to communicate technical details about our properties, even to our shareholders."

Seven years later, Stanfield was saying the same thing: "Management intends to engage the services of an independent geologist to prepare a comprehensive up-to-date geological report that reflects the results of all the companies' surface and underground exploration work," he said in a May 2008 letter to shareholders.

But once again, there was a proviso: "Although the companies would like to disclose the details of this report to our shareholders, new rules have been put in place in recent years governing the preparation and disclosure of technical information in mining companies."

By that time, those "new rules" were seven years old. Nearly two more years have passed since, and shareholders are still waiting. My question is, how long are regulators going to wait before they put a stop to this nonsense?

[e-mail]

[Lone Clone]

On rats, captains and sinking ships

http://incakolanews.blogspot.com/2010/02/on-rats-captains-and-sinking-ships.html

When a ship sinks we are told that the Captain of the vessel will be the last to leave, making sure that all hands are off and safe before they step off themselves. The good captain is perfectly willing to go down with the ship and suffer a watery grave, it's all to do with honour, morals and obligation. But we're also told that rats will get the hell off the boat as fast as they can because....well, because they're rats, aren't they?

So it was interesting to note what happened over at Copper Mesa (CUX.to) recently. On January 19th, the company announced it was being de-listed from the TSX after review (mostly due to the über-nasty way the company conducted itself in Ecuador when known as Ascendent..we've talked about this before).

 
 Copper Mesa Mining Corporation (CUX) 
 	As of February 7th, 2010 
 Filing Date 	Transaction Date 	Insider Name 	Ownership Type 	Securities 	Nature of transaction 	# or value acquired or disposed of 	Unit Price 
 Feb 06/10 	Jan 29/10 	Gill, Rana 	Direct Ownership 	Common Shares 	10 - Disposition in the public market 	-105,000 	$0.030 
 Feb 04/10 	Jan 18/10 	Gill, Rana 	Direct Ownership 	Common Shares 	10 - Disposition in the public market 	-222,840 	$0.075 
 

Yes indeed, on January 18th, a day before the de-listing announcement was made public on the 19th, company CFO Rana Gill dumped 222,840 shares at three times the current share price. The day afterwards, non-insider shareholders got to know what Gill already knew; that CUX was a sinking ship. The shares caved in but Rana Gill was already sold out by then.

Rana Gill: Captain of industry or rat? YOU BE THE JUDGE!

In the end, this post isn't really about an already dead company such as CUX and the scumballs that populate it. It's more about knowing who the hell you're investing with. If you're the type of person who watches a glossy presentation from a junior miner, thinks "Hey....gotta have some of these!" and hits the iPhone to buy some there and then, you're mad. The TSX and TSXV is laden with people who have the same moral and ethical standards as Rana Gill and if you can't be bothered to find out more about the prospective company before buying shares you'd be much better off giving your cash away to charity. At least that way it might do something positive to the world instead of feeding crooks in suits.

[kenborland]

UCHB.PK is Crooked!

My Emails with Mr. Larry Wilcox / CEO of UC Hub.


Mr. Larry Wilcox and his company UC HUB are unscrupulous in their dealing with investors.

Last week I sent Mr. Larry Wilcox from UC Hub an email request for information that was nearly identical to the post here called “An open letter to Larry Wilcox, CEO of UCHB “.

Mr. Wilcox refused to give me ANY of the information I requested.

Mr. Wilcox wrote that he would answer my questions only if I gave him my name, address, phone number and met with him in person in Los Angeles.

I sent Mr. Wilcox and email clarifying my request for this information.

This morning I find the name associated with my email address posted in UCHB.PK Yxxxx! Finance Message Forums. This post called me a “Basher”.

The ONLY association between me and UC Hub were my personal emails to Larry Wilcox. Larry Wilcox either posted the information himself or had someone else do it. There is NO other explaination.

Summary: Because I requested information about UCHUB.PK from Mr. Larry Wilcox, he posted my personal information on the internet and called me a basher.

Mr. Larry Wilcox and his company UC Hub are unscrupulous in how they deal with investors and should NOT BE TRUSTED.

My email correspondences with Mr. Larry Wilcox are below.



From: -removed-
Sent: Friday, Jauary 22, 2010 4:55 PM
To: [e-mail]
Cc:
Subject: Request for UC Hub Information

Hello,

(I sent this request to [e-mail] also. I'm not quite sure which is the correct email.)

As an investor in small stocks, I try to do some of my research directly with the company.

Would you mind answering a few questions about your company UC Hub?

1.) Could you please explain the permit number you gave a while back. It still shows it belongs to a “Pulliam, Clark D.” Why is Larry Wilcox, or UC Hub or Rector listed on the permit?

2.) You state that we (UCHB) are 50-50 JV partners with the driller who owns 100% of the working interest which is usually 80-85% of the total well. Are 50% of any profits truly going to go to UC Hub?

3.) Could you please provide the gold and sapphire property permit numbers, and any other pertinent information that can be used for verification purposes?

4.) Could you provide the names and contact info of the actual people you are Joint Ventured with?

5.) Could you provide the actual assay reports from your geologist with contact info and confirmed by an outside independent geologist report?

6.) Lastly, could you provide a plan of operation with projected operational expenses and projected profit?

Thank you for your time and all the best.

-name removed-




From: larry wilcox <[e-mail]>
Subject: RE: Request for UC Hub Information
To: -name removed-
Date: Friday, January 22, 2010, 9:00 PM

-name removed-

1. Please provide for me how many shares you own, your address and phone number and so we can send you the appropriate documents.

Larry Wilcox




From: -name removed-
Sent: Monday, January 25, 2010 8:44 AM
To: larry wilcox
Cc:
Subject: RE: Request for UC Hub Information

Hello Larry,

I currently do not own any shares of UC Hub. I like to do my research before investing in any company. I have been following a few stocks that are in the gold and gem area. I discovered your company and I think it may be a good investment.

Could you send me a terse email responding to my previous questions?

I look forward to your response.

Thank you,

-name removed-




From: larry wilcox <[e-mail]>
Subject: RE: Request for UC Hub Information
To: -name removed -
Date: Monday, January 25, 2010, 12:16 PM

-name removed-

In all due respect, we do not send confidential information or any information to bloggers or posters who do not politely reciprocate with the questions or answers that the Company requests. I am more than happy to meet with you any time in Los Angeles in good faith.

We have made deals with the company in the oil business we have stated and to do otherwise would be fraud. We have also drilled most of the first well, but is cold and freezing there now so we are on hold. We are planning on some additional leases that we expect to also announce soon in good faith once we are successful on the first lease. I hope you can be patient one or two more months.

We expect to make an announcement regarding our “past inferences” within the next week or so.

In closing, I would be more than happy to meet you face to face and discuss any of your concerns or doubts. We have no agenda, and my agenda is to furnish revenue and not promotion. We do have some “past felons and people” who continue to be parasitic drag, or use surrogates for such but we do not want to address their crimes and instead, focus on the target for this under-funded company, which is revenue. So far we have pulled off these two assets (gold/sapphire mine) and (oil wells) and now the next goal is to produce revenue which we expect to be in MARCH of this year. We think this is pretty spectacular when you realize just how lean we have been and the tenaciousness of the goal under such circumstances……….REVENUE; REVENUE; REVENUE! My goal with such revenue is to then turn the company around with certain properties that are available, and find new management. However, one cannot do that until they prepare a baked loaf of bread….and we must bake at least one loaf first to get to the next rung on the ladder. People will not touch a company that is still in risk mode and does not have revenue. The Catch -22 of this type of situation requires philanthropy and patience. Limited investment until there is revenue; Mergers and acquisitions simply want to rape the company and rape the shareholder; so one can bankrupt, or raise small monies and finish one revenue generating success and then build on that success. That is what the Company is working on for all of us. Once we have revenue we will have some new “fans and friends” who may be mercurial and ephemeral but they are or will be NEW. We will be successful with this goal of REVENUE for sure and we expect 2010 to be a good year for the Company and for the original patient stockholders.

I sincerely wish you well in your life and hope that UC HUB Group Inc meets the original stockholders expectations this year. If you are so inclined please provide your address and phone number as previously requested and feel free to meet face to face which usually helps with any issue, interpretation, illusion and reality. UC Hub has its eye on the target, called REVENUE. One Dollar of Revenue or 100,000 dollars of revenue is not the issue for phase one…….it is simply revenue. Of course, the sour grape personalities will today complain about no revenue, and tomorrow will complain about revenue….because it was not the right color, volume or shape.

Hang in there and watch what loyal tenacity does…….

Sincerely,

Larry Wilcox



From: - name removed -
Subject: RE: Request for UC Hub Information
To: "larry wilcox" <[e-mail]>
Cc:
Date: Monday, January 25, 2010, 1:54 PM

Hello Larry,

Thank you for your email.

There seems to be some confusion. I am not requesting “confidential information” regarding UC Hub. The information I am requesting should not be considered confidential for a public company, such as UC Hub.

I am merely attempting to verify some of UC Hub’s recent press releases. (This is something I always do prior to investing in any company.)

Your recent news release stated that UC Hub will be producing gold, sapphires, and oil this year. Being such bold statements, I would like to verify this information for myself. I hope you find nothing wrong with this.

In reviewing your email;

Are you stating that I must first provide my name, address, phone number, and meet with you in Los Angeles before you will provide the requested information?

I hope you will reconsider my request.

Thank you,




From: - name removed -
Subject: How Dare You Mr. Wilcox!
To: [e-mail]
Cc:
Date: Tuesday, January 26, 2010, 11:51 AM

How dare you Mr. Wilcox!

This morning after reviewing yahoo’s finance message board concerning your company UC Hub, I see my name posted by someone named “***********”. This *********** is posting on Yahoo’s UCHB message board that I am “basher” of UCHB.

The ONLY connection between myself and UCHB have been my emails to you and your company.

My emails were simple requests for information. Because of that, you think you can freely post information about me on message boards!

So because I request information regarding UCHB – That give you the right to plaster my name on the internet. Thank God I did not give you my address, phone number and meet with you, as you requested!

You have the audacity to post my name on the internet and call me names like basher. In all the years I have been investing in stocks I have NEVER come across such behavior from a company..

I now understand why people have been posting such negative things about you Mr. Larry Wilcox and your company UCHB.

Rest assured Mr. Wilcox I will not be investing in your company.

I cannot tell you how furious I am over you behavior.

I must stop writing this email before I say something I regret!



From: -name removed –
Subject: Fw: How Dare You Mr. Wilcox!
To: [e-mail]
Cc:
Date: Tuesday, January 26, 2010, 2:05 PM

Larry Wilcox and UC HUB,

I’ve been steaming all day about what you did to me!

Because you like to post my personal information on the internet, I will post our email correspondence along with a description of your outlandish actions.

I will make sure that ALL investors realize that Larry Wilcox and UC Hub are unscrupulous in their dealing with investors.

I will take up a torch to spread the truth about you and your crooked UC Hub.


(Note: Users names on message boards have been removed and replaced with " *** ".)

[caycehopeful]

Ouch! That's going to leave a mark!

[El_Jefe42]

I don't, but plenty will now that you've (not so) cleverly posted it in a "scam" forum. You and Jim make a cute bashing couple!

[Lone Clone]

Searchlight Minerals: Progeny of a Scam

http://caps.fool.com/Blogs/ViewPost.aspx?bpid=331516&t=01000799383632139279

January 24, 2010 – Comments (3)

I was recently reading a Forbes feature on hedge fund manager Kyle Bass, who made his name shorting subprime and is now focused on sovereign defaults. Back in the late 90's, he told clients to short Delgratia Mining, a name I wasn't familiar with.

Check out this Fortune piece on Delgratia from 1997. Typical mining scam, with outlandish PR claims of a multi-million ounce gold discovery at their property in Clark County, Nevada. (You can see the drill hole press release that set off the fireworks here.) Here are two sections I want to hone in on:

"In a statement from Delgratia's chairman, Dr. Charles Ager, the company backed off from the claim of five million ounces, saying, "it is premature to quantify the potential of this gold system." The same press release also revealed that Delgratia was increasing its interest in the Nevada property. The unusual admission? It was acquiring the stake from a company incorporated in the British Virgin Islands that is 50% owned by Ager's family."

and

"In a recent phone call, Delgratia's Ager says his stock was overwhelmed by shortsellers and misinformation. He remains even-keeled and encouraging. "This company has tremendous value," he says. What about that Nevada official's disclaimer of Delgratia's initial test results? "We have reported just four holes of a 75-hole program, and until we get enough holes--I'm an engineer and a scientist--I'm not prepared to tell the world what I think."

This Ager fellow is clearly an upstanding gentleman, in addition to being an engineer and a scientist. I decided to look him up, to see what he's up to now. Funnily enough, my search led me to a company that I've already given the thumbs down here in CAPS: Searchlight Minerals (SRCH.OB)

Here are some snippets from the SRCH.OB proxy:

HOLDERS OF MORE THAN 5% OF OUR COMMON STOCK

Dr. Charles A. Ager 17,045,190 (8)(10) 15.99 %

Nanominerals Corp. 16,000,000 (8) 15.01 %

On January 17, 2006, Nanominerals acquired 16,000,000 shares of our common stock from K. Ian Matheson in consideration of a payment of $4,640.50

"Pursuant to a Schedule 13D filed by Dr. Charles A. Ager, Nanominerals (website) is a privately held Nevada corporation which owns 16,000,000 shares of our common stock. Ian R. McNeil and Carl S. Ager, who are our officers and directors, each own 17.5% of the issued and outstanding shares of Nanominerals. Dr. Charles A. Ager, the sole director and officer of Nanominerals, and his wife, Carol Ager, collectively own 35% of the issued and outstanding shares of Nanominerals. Further, Messrs. Ager and McNeil have given an irrevocable proxy to Dr. Ager to vote their respective shares of Nanominerals during the time that Mr. Ager or Mr. McNeil, as the case may be, serves as one of our directors or executive officers. Dr. Ager has sole voting and investment powers over the 16,000,000 shares owned by Nanominerals."

"Nanominerals Corp. (“Nanominerals”) is a private Nevada corporation principally engaged in the business of mineral exploration. We have engaged Nanominerals as a consultant to provide us with the use of its laboratory, instrumentation, milling equipment and research facilities which has allowed us to perform tests and analysis both effectively and in a more timely manner than would otherwise be available from other such consultants. Dr. Charles A. Ager performs the services for us in his authorized capacity with Nanominerals under our consulting arrangement with Nanominerals. Dr. Ager currently is the sole officer and director of Nanominerals, and controls its day to day operations."

"In connection with our February 2005 change of business, on February 8, 2005, we entered into mineral option agreements with the Searchlight Claim owners to acquire 20 mineral claims representing an area of 3,200 acres located in Clark County, south of Searchlight, Nevada."

"in connection with the acquisition of the Searchlight Claims in February 2005, Geotech Mining Inc. and Geosearch Mining Inc., which are affiliates of Dr. Charles A. Ager and his wife, Carol Ager, who were Searchlight Claim owners, have each received 140,000 shares of common stock with respect to the transfer of title to their interests in the Searchlight Claims under the option agreements for the Searchlight Gold Project."

"We acquired the assets consisting of the 50% financial interest in the Joint Venture Agreement with respect to the Clarkdale Slag Project from Nanominerals. (Clarkdale is SRCH.OB's flagship project)

"Messrs. Ager and McNeil are the son and son-in-law, respectively, of Dr. Ager and Mrs. Ager. Dr. Ager, Mr. Ager and Mr. McNeil may be considered promoters of the Company by virtue of their positions in the Company and Nanominerals."

So, there you go. Searchlight is Son of Delgratia, in more ways than one.

[Last Chance]

If your looking for scams:

UC Hub (UCHB) and Macada Holding (MDCA)

[kenborland]

Spongetech Delivery Systems, Inc. (SPNG)

Do you feel that is a scam?

Ken

[Lone Clone]

Affinity (79F.f) and Constitution (CMIN.ob): Catching up on the Peruvian alluvial gold scams

http://incakolanews.blogspot.com/2010/01/affinity-79ff-and-constitution-cminob.html

LC

[SilverEagle]

I have whole bunch of candidates...

99% of OTC market stocks are scam.
they are either pumping illusive business, toxic diluter or reverse split offenders.

[jimmybob]

Great idea... nice post

[jimmybob]

Ill get some nice info for SMAS... CEO makes me puke ~

[muaythai]

Sounds good janice.

[janice shell]

We should definitely keep an eye on Lumb's new venture. Forget the name right now, but I'll look it up...

[muaythai]

Wow , is there a storm out in the Pacific? We have TS Ida hitting the gulf coast this week.MT

[muaythai]

Thanks Orca.I see that our precious metals board has been gettin attention too.Tbone is a hienz 57.Lord only knows what hehas in him.Got any suggestions for Tbones list?

[SilverEagle]

SMAS is official scam approved by pinto beaners, too. lol
Waves are soooo great here. oh i'm so busy. Today it's about 12-15ft but it was about 30-45ft over the weekend.

[SilverEagle]

Hi muaythai. Nice board you got here!
Oh, Tbones is looking great! Is he a border collie, too?

[muaythai]

4 very good candidates.I've put you on as an asst mod.welcome aboard.

[Lone Clone]

I don't have PMs so I have to reply here. I really think it is important that people don't just name stocks; rather they have to build a case for why the stock should be included. If that's the way this will be run, I would be happy to be an assistant moderator.

The following links to posts about stocks to be added to the list. Read them for examples of how to propose a candidate.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=43335975

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=43227255

Also pls note that I have only have 15 posts per day on IH and normally use them to post mining PRs on the boards I run, so I won't be saying much until the weekends.

LC

[uranium-pinto-beans]

there is a whole bunch of em. take QEDN today moving. they move otherwise no one buys em. but then they dump to no end

[muaythai]

SMAS is on the list.I will be glad to expand on them if you like.MT