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Consistently lumping API into the category of "scam companies", Slo, does not make it one. So far your logic is based only on generalities of othercompanies. Like it or not, things have changed for API.
And it is, I, not the company, who is interested in the possible valuations (based on neighboring mines). The company will not speculate....it will publish the NI 43-101 reports when they are ready. But, risk tolerant investors must look at what is available to them. This is what speculative investors do. We weigh the risks vs the rewards. I'm interested to know what reward might be in this for someone buying a 20¢, no wait, now a 23¢ stock.
Are we looking at another ELRE here? So far we are off to the same start....
stay tuned.
"As to "valuations", I hope it comes with a verified geologist's report and from a reputable geologist."
That's the next step. Work has already begun on both claims.
First the historical data is compiled, then assays are done (field samples) and finally drilling. The analysis of the drill cores along with ALL available data from previous owners/geologists are added together to produce an NI 43-101 report will verifies how much is inferred, indicated or proven in a given resource.
In the meantime, we will have to be satisfied using the production numbers from existing mines. One, Lochnivar, is operating on a deposit which crosses the boundary line into our claim. This is what Anglo American was gushing about!
We control the eastern ~30% of that deposit!
Re dilution: Mckinney spent 3 million shares on TWO major gold claims. That's peanuts!
The Outstanding share count is still less than 39 million!
That fact alone sets us apart from your typical pinksheet company.
Eager to get some rough valuations on these shares.
"I think Mckinney has learned much from his failures as well as from his recent successes"
I couldn't agree more, MG, and welcome to our humble Ihub board!
Looking forward to more insights from you.
Have you considered the possible gold values in the Kings Point Claim? I've just started looking at it.
This quote from Anglo American:
“Further consideration should also be given to deep exploration in the vicinity of Beetle Pond as this area is host to widespread, visually impressive, alteration and disseminated sulphide mineralization potentially associated with a significant, deeply buried, massive sulphidedeposit.”
This is about as glowing as it gets for a geologist IMO. :)
I'm going to let your last post stand as written. I believe your position makes my case for me. Have a good evening!
Yes, Mckinney's integrity is a positive. Those who know him well will attest to that.
The chart you cite illustrates the drive behind his resolve to make this right for those investors who have stuck with him through thick and thin since 1998. This company has been through hell (on several levels), but is still kicking.
And if you read his "autobigraphy" as you call it, you'll find no qualify or "agrandizing" words whatsoever....just cold, objective facts.
Which obviously impressed you enough to call "agrandizing".
And I'll agree with you there, that's one nice resume.
I can't argue with on the Pinks/Mining relationship, there are goodly amount out there.
One key difference being API's leadership, however:
Management
DANIEL S. MCKINNEY, President, Chief Executive Officer, Director:
Mr. McKinney, is based in Asia and grew up in Hong Kong. He founded Asia Properties in 1998 and is an entrepreneur and investment banker who has established numerous businesses over the last three decades. Mr. Mckinney has had extensive experience in mining ventures in both precious metals and gemstone mining. In the mid 80’s he led the financing and discovery of a significant gold deposit located in Chon Buri, Thailand. In 1986, he became a significant shareholder in a producing emerald mine located in Santa Terrazina, Brazil. Mr. Mckinney was a director of Savoy Resources Corp, a U.S. listed gold mining company from 2004-2006 and founded and served as director and CEO of Yinfu Gold, a U.S. listed gold mining company from 2007-2010. He has invested in numerous mining ventures and geological explorations ranging from Burma, Thailand, Columbia, Brazil, China, several African countries and Mongolia.
Not necessarily. Typically where there's high risk, there's high reward. So, in one scenario, Dan would put together the historical data and present that. That inference alone may be enough to get some one to "get in on the ground floor" (IE a great deal). The PR and the website say quite a bit about the surrounding geologic structures...all of which have produced.
Or, in another scenario, the historical data AND just a little assaying may be enough to sell off one of the 53 claims for a large profit and use the proceeds from that sale to continue exploring the entire property.
My guess is the $100K was a stipulation by the sellers who are entitled to a small percentage of whatever is mined. Therefore it's in their best interest that they ensure it's exploration and isn't mothballed.
There are many beneficially creative ways to raise funds in the mining industry and I think Dan has a pretty good handle on how to go about doing it. Natural resources are where he started out 30 years ago.
Here's one way:
Asia Properties is a junior mining and exploration company focused on the alluvial gold mining and resources sector. We invest in exploration mining claims as well as existing mines as opportunities present themselves. As the insatiable demand for commodities in China continues, API plans to deploy Asian based capital to develop and acquire mines around the world in favorable mining jurisdictions
From API's website:
http://www.asiaprop.com/kings-point-gold/
Asia Properties Inc. Acquires the King's Point Mining Concession Near Commander Resources Mine 08/29 01:00 PM
HONG KONG and BELLINGHAM, Wash., Aug. 29, 2011 (GLOBE NEWSWIRE) -- Asia Properties, Inc. ("API") (OTCQB:ASPZ) has entered into a definitive agreement to acquire the King's Point, North Block Mining Concession, located in Newfoundland, Canada.
The concession consists of 53 claims including the historic Rendall-Jackman mine, Golden Anchor and Beetle Pond sites. The Golden Anchor property is located just 200 meters from the Lochinvar gold mine owned by Commander Resources. (TSX-listed) www.commanderresources.com
The concession comprises 1325 hectares of rich poly-metallic formations. The team at API successfully negotiated favorable terms to reach a definitive agreement. API will engage our geological team to begin gathering all of the necessary information and commence work on the property. All of this information will be used towards completion of a NI 43-101 report.
The Rendall-Jackman deposit has had a long history of exploration dating back to 1909. Several shafts were sunk and a small amount of material mined. Two VMS strata-bound massive sulphide bodies have been identified on the property and are of the "Betts Cove" Type having (ophiolitic) igneous rocks formed from oceanic crust and upper mantel material with copper, zinc and gold credits.
The Area has become very active recently with Commander Resources/Maritime Minerals drilling the Orion Gold Deposit and new discoveries made in the Hammerdown Gold Mine area. There is excellent infrastructure in the area, including a functional mill, numerous drill companies, skilled work force and analytical laboratories all nearby.
Daniel McKinney, API's CEO stated, "Acquiring a concession of this quality and location is an incredible accomplishment, and we are extremely excited to have acquired the Rendall-Jackman mine along with Golden Anchor, a property so close in proximity to the Commander Resources, Lochinivar Mine. This is a very significant step for API!"
Please see: http://www.asiaprop.com/kings-point-gold/
The Company will acquire a 24 month option on the concession for 2 million restricted shares along with a commitment to spend CAD$100,000 within 24 months on drilling and geological work on the property. API can elect to buy out the claim anytime within 24 months by issuing an additional 1 million shares.
About Asia Properties, Inc. is a Nevada corporation and trades on the OTCQB under the symbol "ASPZ." The transfer agent is Transfer Online, Inc. of Portland, Oregon. Please visit our website: www.asiaprop.com
This press release contains forward-looking statements based on management's expectations and beliefs, and may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.
CONTACT: Investor Relations:
Dennis Burns
Tel: 419-951-4842
denny@nvestrain.com
Congrats on the additional shares. Added a few more myself.
We know from the last PRs that Mckinney has been in negotiations on some other acquisitions, so I wonder if the buying pressure of late is due to one of those deals getting ready to close.
And you are right about the thin float, but I see the share price settling higher than ~30¢. Only around 100,000 shares between here and ~50¢.
The technicals are looking very positive as well.
Here's Barchart's take:
http://www.barchart.com/opinion.php?sym=ASPZ&view=detailed
From Mini's Friday Tips today:
KING
Control block majority shareholders doing an off the market transaction. New management and new operating energy company in the works.
That would be our best case scenario, yes. It's entirely up to mini me at this point and it seems they have it on their back burner.
I spoke with law firm for the plaintiffs, and was advised that KING was all but officially dropped from the lawsuit. KING was added only as having had claim to that land/rig/claim at some point. (a chain of title thing as I understand it) The suit has reached some kind of settlement according to the lead lawyer I spoke with.
I explained that KING was dead in the water.
I asked if he had even heard from Minime and at that point he had not. I was quite surprised that no one had bother to call to find out what it was all about. That would have put the issue to bed immediately. I guess the current owners of KING had their own ideas.
So, as far as the people suing us is concerned, this is a non-issue.
"Which is a few claims." LOL, Slo, a few? It's 16 to be precise. Looks like several hundred acres to me.
Please refer to the recent PR which states:
"The Company is currently working with experienced geological consultants to complete compilation of all available data on the property including nearby historic deposits, geological maps, mineralized zones, geophysical surveys, and drilling results.
The 16 claims are within Quebec's Abitibi mining camp which hosts a world-renowned number and high grade precious metal (Au-Ag) and poly-metallic (Cu-Zn-Au-Ag and Cu-Au) ore deposits. The geological setting of the Banroy property, which exists between Destor-Porcupine and Larder Lake-Cadillac faults, exhibits geological features similar to the Kerr Addison (10,457,000 oz of gold from 1938 to 1996) and Holloway (4.9 M metric tonnes grading 5.9 g/t Au) ore deposits in Ontario. The works conducted by Resources Cartier Inc. in nearby areas show a great potential for gold and base metal discoveries.
Please see: www.asiaprop.com/properties/banroy-gold/property-description-and-location/
Daniel McKinney, CEO of API, commented; "The next step will be several prospecting site visits by our consultant geologists to the claims over the next few months. Their goal is to understand exactly what we have in the mineralized zones on the property. Concurrently, we are conducting intensive due diligence and negotiations on a number of other very interesting gold mining properties."
When one does the activity described above, one is exploring. This is the very definition of a junior mining and explanation.
As to your belief that "plans are meaningless"....well, I don't know how any one does anything without SOME kind of plan. That belief is just plain depressing, if you think about it.
Something new (to me) on API's website home page:
Welcome to Asia Properties Inc.
Asia Properties is a junior mining and exploration company focused on the alluvial gold mining and resources sector. We invest in exploration mining claims as well as existing mines as opportunities present themselves. As the insatiable demand for commodities in China continues, API plans to deploy Asian based capital to develop and acquire mines around the world in favorable mining jurisdictions.
This strikes me as something of a mission statement. Trip to Philippines supports this.
*
Agreed. What we don't want is a failure at either of those venues.
Expectations are high that the LSR will be broken, so let's be double sure all the equipment is ready to stand the test.
I hate the delays, but I would hate a public failure even more. Better safe than sorry IMO.
Asia Properties to Seek Acquisitions at Philippine Mining Conference 08/23 06:00 AM
HONG KONG and BELLINGHAM, Wash., Aug. 23, 2011 (GLOBE NEWSWIRE) -- Asia Properties, Inc. (ASPZ:$0.1800,$0.0000,0.00%) ("API") (OTCQB:ASPZ) announced that its CEO, Daniel Mckinney and his team will attend the annual Philippine Chamber of Mines conference in Manila, Philippines from September 13-15th, 2011.
"This premier mining conference will serve to further our contacts and connections as we are negotiating and performing due diligence on a number of gold mining properties and claims in Philippines," said Mckinney, adding, " We are very excited by these opportunities and attracted by the modern mining laws as enacted in the Philippine Mining Act of 1995."
The Philippines' Mines and Geosciences Bureau (MGB) said on August 4, 2011, that 5 million hectares of potentially mineralized areas across the archipelago are now open to local and foreign investors. The country has extracted only a small portion of its estimated $1 trillion worth of mineral deposits, and the government intends to capitalize on higher mineral prices to boost its economy. Mining investment in the country is forecast to reach $1.4 billion this year, 40 percent above earlier estimates and the most since the sector was opened fully to foreigners in 2005.
"Our goal is to extend our business model of using Asian capital to also invest into Southeast Asia. API's mandate is to pursue the very best mining opportunities across the globe," stated Mckinney.
API is also negotiating and performing due diligence on several gold mining properties in Canada, USA, China, Mongolia and South America.
For further information: http://www.brecorder.com/business-a-finance/industries-a-sectors/22175-philippines-invite-new-investors-in-mining-
About Asia Properties, Inc. (ASPZ:$0.1800,$0.0000,0.00%) : is a Nevada corporation and trades on the OTCQB under the symbol "ASPZ". The transfer agent is Transfer Online, Inc. of Portland, Oregon.
Please visit our website: www.asiaprop.com
The Asia Properties, Inc. (ASPZ:$0.1800,$0.0000,0.00%) logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1733
This press release contains forward-looking statements based on management's expectations and beliefs, and may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.
CONTACT: Investor Relations:
Dennis Burns
Tel: 419-951-4842
denny@nvestrain.com
Cyclone Power Technologies Files Quarterly Report And Releases Progress Letter to Shareholders 08/18 07:23 AM
POMPANO BEACH, Fla.--(BUSINESS WIRE)-- Cyclone Power Technologies (CYPW:$0.2951,$-0.0149,-4.81%) has filed with the OTC Markets its Quarterly Report for the period ended June 30, 2011, and has released the following progress report to its shareholders:
Dear Friends of Cyclone,
Greetings from South Florida! Over the last few months, we have made great strides in the development of our business and technology. I would like to share with you some of these highlights, which are further detailed in our Quarterly Report filed with the OTC Markets today.
Business and Technology Updates
In July, our licensee Advent Power Systems was awarded a $1.4 million contract from the U.S. Army - Tank Command (TACOM) to develop a compact 10kW auxiliary power unit (APU). The system is needed to increase operating efficiencies and decrease fuel usage of the Abrams M1 Main Battle Tank, the Stryker Armored Vehicle and the Bradley Fighting Vehicle. Within the next 12 months, we expect to deliver the first prototype engine systems, and Cyclone will receive funding of approximately $700,000 during this period. TACOM has also requested, as part of its statement of work, a production cost schedule for up to 10,000 engines annually. If this contract were to progress to that stage of commercialization, it could represent a significant ongoing revenue opportunity for Cyclone.
In June, we signed a Letter of Intent with Combilift, a global equipment manufacturing company based in Ireland, to license Mark V engines to operate Combilift’s hydraulic lift equipment. We expect this license to be signed in the third quarter, with anticipated development funding payable to Cyclone of $400,000 over the next 12 months.
And as previously reported, in April we received a purchase order for multiple Mark V engines from Raytheon Company (RTN:$40.099998,$-1.260002,-3.05%) worth $400,000. We are progressing well to meet our goal of delivering these engines in the fourth quarter, and have begun to receive payments for our work.
Between these three most recent projects, we have approximately $1.5 million in current backlog orders for development engines; plus we have an additional $750,000 in backlog from previous contracts. All these engines are deliverable within the next 12 months. As a result of these current and new contracts, we have signed a lease to expand our facility by an additional 2,000 s.f. (30% increase), and are in the process of hiring more engineers and mechanics/technicians.
Our commercialization schedule with the WHE-25 engine, as being manufactured by TopLine Energy Systems (an affiliated company of global manufacturing leader TopLine Automotive Engineering) is also proceeding as planned. We have completed the first production prototypes, in part for Phoenix Power’s waste oil power generators, and are moving into testing this month. If this process continues to go well, we could have WHE products in the market by the first half of 2012. With respect to this, we are planning to add a new, rugged TopLine-produced WHE engine to our waste heat recovery beta at Bent Glass Design soon.
Lastly, as we announced on Facebook, we decided to postpone until October our trip to Bonneville to attempt a land speed record for steam powered vehicles. We felt that it was in the best interest of the team, the company and our shareholders to spend more time testing the LSR car, while also focusing resources on our customers and ongoing contracts, including Raytheon, the U.S. Army, Phoenix Power, Renovalia and Bent Glass.
With regard to road testing the LSR car, we are excited to report that we have been invited by NASA to run at the Kennedy Space Center on the Space Shuttle landing strip. Bringing our engine and car to the home of some of the most incredible technology over the last century is an amazing opportunity. We may also be able to set an unofficial speed record just a few miles from the site of the original 1906 steam record in Ormond Beach, FL. As a date firms up, we’ll let you know. But please follow us on www.Facebook.com/CyclonePowerTechnologies for the latest news about this and other exciting developments.
Financial Recap
We ended the quarter with $595,000 in current assets (inclusive of cash), up almost 150% from the beginning of the year. We did not book any revenue in the quarter; however, as of June 30 we had over $750,000 in deferred revenue on our balance sheet from pre-paid contracts that get classified as revenue when we ship engines and other deliverables, expected over the next three to 12 months. We also anticipate receiving payments this quarter from our Raytheon purchase order, the U.S. Army contract through Advent, and an upcoming license agreement with Combilift.
Our operating expenses for the quarter were $849,000, an 18% increase over the previous year period. Our operations have grown significantly during this time, including adding more technical personnel, and greater accounting and legal expenses in connection with our goal to become an SEC reporting company. Also, these expenses include $270,000 in Research & Development, and approximately $480,000 of non-cash expenses. A large portion of those non-cash expenses included approximately 1.2 million shares of restricted common stock and 720,000 common stock options collectively valued at approximately $300,000. As we have said before, we believe that the continued interest among our key employees and contractors to receive stock and stock options in lieu of some or all of their cash compensation demonstrates a strong commitment to the success of our company.
We expect the revenue from the contracts discussed above (Raytheon, U.S. Army and Combilift) to cover about half of our needed funding over the next year. We will, therefore, need additional funds from the sale of debt and equity securities. We have also prepared and filed with the Securities and Exchange Commission as of July 1, a Form 10 registration to become a fully-reporting registrant with the SEC. We believe that this action will allow us to move our common stock to a more stable market exchange soon. Our goal is to provide greater transparency to our financial operations and attract long term, synergistic investors, institutions and partners who can help take our Company to the next level.
You can find our full financial statements with footnotes in our Quarterly Report for the period ended June 30, 2011, filed with www.otcmarkets.com.
The growth we have seen in our technology, business position and operational structure over the last few months is truly inspiring. We continue to stay focused on completing our engine development, building the foundations required to launch these products and starting to generate consistent revenue. In these efforts, we thank you all for your support. We are very confident in the future of our company and the ability of our people and technology to accomplish truly great things.
Sincerely,
Harry Schoell, Chairman & CEO
ABOUT CYCLONE POWER (CYPW:$0.2951,$-0.0149,-4.81%)
Cyclone Power Technologies (CYPW:$0.2951,$-0.0149,-4.81%) is the developer of the award-winning Cyclone Engine – an eco-friendly external combustion engine with the power and versatility to run everything from solar thermal and waste heat recovery electric generators to cars, trucks and locomotives. Invented by company founder and CEO Harry Schoell, the patented Cyclone Engine is a modern day steam engine, ingeniously designed to achieve high thermal efficiencies through a compact heat-regenerative process, and to run on virtually any fuel - including bio-diesels, syngas or solar - while emitting fewer greenhouse gases and irritating pollutants into the air. Currently in its late stages of development, the Cyclone Engine was recognized by Popular Science Magazine as the Invention of the Year for 2008, and was presented with the Society of Automotive Engineers’ AEI Tech Award in 2006 and 2008. Additionally, Cyclone was recently named Environmental Business of the Year by the Broward County Environmental Protection Department. For more information, visit www.cyclonepower.com.
Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Source: Cyclone Power Technologies (CYPW:$0.2951,$-0.0149,-4.81%)
Asia Properties Retains Investor Development For Public Relations Program
08/18 06:00 AM
BELLINGHAM, Wash., Aug. 18, 2011 (GLOBE NEWSWIRE) -- Asia Properties, Inc. a junior mining and exploration company announced today that it has retained Ian Reed of Investor Development "ID," to provide public relations services. In this role, ID will help the Company expand its visibility among the investment community.
"We are pleased to select ID to help lead our public relations activities," said Daniel McKinney, Chief Executive Officer of Asia Properties. "The firm has a proven track record in increasing the investment community's awareness of small companies and has an impressive success in assisting junior mining companies broadening their awareness. Further, in helping to enhance API's brand awareness, it is important to design communication messages that reflect our unique value for specific audiences. ID will help API strengthen our brand awareness efforts as well as determine the most effective way utilizing the social media for communicating our value to our target audience. We look forward to working closely with them as part of a proactive effort to expand our shareholder base."
"We are excited about working with Asia Properties as the Company appears well positioned to benefit from the many opportunities available for them to acquire and develop gold mines in strategic jurisdictions and markets around the world," said Ian Reed, President of ID. "The Company recently completed the acquisition of 16 mining claims in Quebec's world famous Abitibi mining camp and we believe that this will represent an excellent platform to support future growth."
Please see: http://www.asiaprop.com/properties/banroy-gold/property-description-and-location/
About Asia Properties, Inc.: is a Nevada corporation and trades on the OTCQB under the symbol "ASPZ." The transfer agent is Transfer Online, Inc. of Portland, Oregon. Please visit our website: www.asiaprop.com
This press release contains forward-looking statements based on management's expectations and beliefs, and may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.
CONTACT: Investor Relations:
Dennis Burns
Tel: 419-951-4842
denny@nvestrain.com
Wow. I'm dumbfounded. You have really high standards of shareholder value.
During his tenure with ELRE, Dan took its share price from .10 to $8.80! That's a pretty nice return.... in MY book anyway.
He left his position at the peak, and the new management let everything fall apart. Imagine if he had stayed on.
So then it's an "Odds" game for you, huh? Thanks for general pinksheets advice. That kinda answers my original question. :)
I'll take those odds knowing:
1. There's been no dilution
2. Dan has taken no salary
3. Dan's proven tenacity to make ASPZ work for his investors
4. He has returned to his business roots in resources
5. Is extremely well connected in Asia, China in particular.
6. Gold is a hot market right now, and believed to continue you that way for the long term
7. Chinese investors trust Dan with their money to invest in North American resources
and, the aforementioned;
8. Integrity, Tenacity and Determination.
I'd say those are pretty goods odds for creating shareholder value despite your argument that "All Pinks are Bad".
I appreciate your objective use of the word "might" as in "So, ASPZ might be considered Dan's third failure."
A lot of things mighthappen, but given the odds, Dan's "failure" here won't be one of them.
Guess we will be finding out soon enough. Stay tuned. And thanks for sharing your thoughts.
Fair enough on both statements.
But now we have a new deal, new possibilities. The share price is reflecting the optimism behind these ventures.
Maybe this question will be "On topic" enough for you to answer:
Given your well-expressed opinion of his past performance, what would Dan McKinney have to do to earn your respect?
TIA!
Wrong again.
1. I have averaged down, only adding more shares, never selling.
2. Speak for yourself! Maybe YOU, Slo, "...can't get an accurate sense of a Pinky CEO by chatting with him about his company on the phone." But I can, I have and I will continue to use MY skills to judge character.
It's all about your technique.
My rule number one:
Give people the benefit of the doubt until they give reason not to.
If you start with that premise (much like the "more flies with honey, than vinegar" axiom) I think you will have greater success getting the "read" you want. The more thorough the read, the more able you'll be able to compare facts and words and therewith make your judgment.
Just my 2¢ Hope it helps. :)
OH! PS: Are you ignoring my question? Here it is again:
If you really feel this way about all Pinks, then why do you post so much on their boards (see your posting history)?
I bought some of the 17¢ shares yesterday. Just couldn't resist a deal like this. Clearly, others beginning to figure that out for themselves.
The float is ridiculously small which means the slightest bit of good news/revenue and, dare I say it?, profit are going to cause this thing to go up, WAY up.
JMPOV
Oh really? Didn't know you had knowledge of my private holdings. Stands to reason, I guess, you seem to know everything else.
FYI, I'm UP on this investment.
And, though this may fall on deaf ears, and at the risk of beating a dead horse: The reason to speak to a CEO is to get a sense of the caliber of the person, not to garner objective facts. I never said that was what I was after, all that is publicly available anyway. But, how he reacts to questions about said facts speaks volumes about the integrity of the person making the decisions.
I can't make it much more clear than that for you.
And, again, to paint ALL "Pinkys" with your ugly brush is doing yourself a huge disservice IMO. And, if you actually believe that, why do you spend all your time here on Ihub? Honest answer! :)
Well, shucks, I guess we are just going to have to disagree on this...big time. :)
1. He has not failed us because there has been ZERO dilution (other than this last acquisition).
2. He has taken NO salary since 2008
3. There are subtleties and nuances that can only be ascertained by speaking with someone directly....even better is meeting with them in person. When one invests in a company, one invests in its people and you better be comfortable with who they are. As I said earlier, Dan is a man of extremely high integrity, intelligence and flexibility. Of this I am certain and have made that judgment based on inter-personal DD. My money is where my DD is.
and finally,
4. To call a deal "crazy" when one has ZERO knowledge of the intricacies or potential of the deal....well, that doesn't do anyone any good, now does it? To judge an entire book by its cover, means missing out on some great possibilities. This is why it helps to know the author.
Never heard of a Mongolia thing. But if there was, doesn't that bespeak to Dan's remarkable diversity? His ability to use his EIGHT Chinese dialects to scope out the best deals? Is there anywhere this guy WON'T go? :)
Honest answer on the Island? You bet I believed in that deal. I can tell you as a property owner and investor, I liked the terms he had negotiated very, very much. That is exactly why I invested in ASPZ to begin with. That was a prime piece of property on which Dan had the option for a song!
Now, had I known the real estate market was going to collapse on such a grand scale, I might of done things differently. I, for one, am not going to blame Dan McKinney for that! LOL. In fact, I'm going to give him praise for keeping the company alive through those dark times all the while working his butt off to shift gears and create shareholder value. That's impressive IMO and why I have hung on this entire time.
Now, it seems, he has finally found something of potentially great value and he is moving on it like a bat out of hell.
Bottomline, Slo, this guy has integrity. It's in his actions and in his words (should you ever have the pleasure to speak with him).
Yes, I'll grant you that. AND I think that was a tough lesson learned by Dan: Don't announce a deal until the ink is dry on the contracts.
In the category of "how is it different this time", Dan only announced this deal AFTER the deal was complete. It's done, and now we are beginning the NI 143 report.
His "concurrently" statement indicates that he has other irons in the fire at the moment. It also tells me that the Abitibi claims will be only a small part of the business plan.
Rest assured: We will know nothing, I mean nothink!, about these upcoming acquisitions until they are complete. We know only that they pertain to "a number of other very interesting gold mining properties."
If you want to call a prudent pullback from what clearly became a bad deal for ASPZ a "fiasco", then be my guest. I'll call it "a lucky break". Things might have south very quickly had that deal been consummated.
It should go without saying that this is a very different deal altogether: different sector, VERY different people, different part of the world. Dan has 30 years experience in the resources industry, he had none in gaming (as far as I know) but enough business sense to back down when the deal changed and proved to be untenable.
Another key difference: API has already pulled the trigger, it has purchased the claims and only announced that after the fact.
From what I gather, the ball is just getting rolling here.
"Pending further acquisitions" is the key phrase here. I'm beginning to think we have a much much higher potential than 25¢.
Maybe that valuation just for the recently acquired Abitibi claims, but this line from Monday's PR indicates more good things to come:
"Concurrently, we are conducting intensive due diligence and negotiations on a number of other very interesting gold mining properties."
Nice find, Sean, thanks for sharing that.
Huge DD interest in ASPZ today:
http://www.boardcentral.com/top_searches
Info and Geologic Structure Map from the Company
In reply to my questions (italicized) re this map (below) came this reply:
NB: I was unable to resize this map, so use the scroll bar on your monitor to slide back and forth to see everything. Claims are in the center of the map.
Cxxx,
Which of these claims is now owned by API?
- 2 red rectangles are the Banroy’s claims
What does the green color signify?
- The claims are underlain by Archean greenstones, including Komatiites, basalts and intermediate intrusive rocks. I have asked one of our geologists to create a whole map for 32D08 area with ArcGis software, including all details and legends. As he is busy in the field, it may take a few weeks;
What other mineralization exists in the immediate area?
- The gold-bearing Destor-Porcupine and Cadillac-Larder Lake fault zones are two parallel structures that show similar features, and host ore bodies and showings with analogous structural settings and types of alteration and mineralization. Thus, the geological setting of the Banroy property, which exist between these two faults, exhibits geological features similar to the Kerr Addison (10,457,000 oz of gold from 1938 to 1996) and Holloway (4.9 M metric tonnes grading 5.9 g/t Au) ore deposits in Ontario.
Can you tell me more about who made these claims?
- The claims were staked by Daniel Huang’s research on the Abititi area. Mr. Huang has 30 years of technical and business experience in the energy and mineral resources industry where he has been using his expertise to identify and acquire oil, gas, coal bed methane, and mineral resources in China. Most recently, Mr. Huang worked with two Australian geological service companies to provide independent reports for companies involved in initial public offerings and re-listings based on the Australian Joint Ore Reserves Committee (JORC) and the Canadian National Instrument 43-101 compliances. Throughout his career he has also been responsible for oil and gas, coal bed methane, base metal and gold exploration and mineral property acquisition for several junior Canadian mining companies working in China and Former Enron Oil and Gas Ltd.
Mr. Huang has a Bachelor's Degree in geology from Hebei Geological Institute in China and a Master's Degree in geology from the University of Hawaii in USA. He also spent two years studying mineral economics in the geological department of Queen's University, Canada.
We are going to have to start looking at some of the neighboring properties to see what the potential COULD be for these claims.
The new geologist team will be assembling what sounds like the beginnings of an NI-143 report.
Huge step in the right direction here IMO.
This explains where the buying could be coming from:
Daniel McKinney, CEO of API, commented; "The next step will be several prospecting site visits by our consultant geologists to the claims over the next few months. Their goal is to understand exactly what we have in the mineralized zones on the property. Concurrently, we are conducting intensive due diligence and negotiations on a number of other very interesting gold mining properties."
Asia Properties Initiates Work on Mining Claims 08/15 01:00 PM
HONG KONG and BELLINGHAM, Wash., Aug. 15, 2011 (GLOBE NEWSWIRE) -- Asia Properties, Inc. (ASPZ:$0.1700,$0.0100,6.25%) (OTCQB:ASPZ) today announced its intention to start work on its 16 claims in Quebec, Canada.
API acquired the 16 claims located in La Pause Township, Abitibi, on July 18th and received the claims transfer receipt from the Quebec Natural Resources Department on August 9, 2011.
The Company is currently working with experienced geological consultants to complete compilation of all available data on the property including nearby historic deposits, geological maps, mineralized zones, geophysical surveys, and drilling results.
The 16 claims are within Quebec's Abitibi mining camp which hosts a world-renowned number and high grade precious metal (Au-Ag) and poly-metallic (Cu-Zn-Au-Ag and Cu-Au) ore deposits. The geological setting of the Banroy property, which exists between Destor-Porcupine and Larder Lake-Cadillac faults, exhibits geological features similar to the Kerr Addison (10,457,000 oz of gold from 1938 to 1996) and Holloway (4.9 M metric tonnes grading 5.9 g/t Au) ore deposits in Ontario. The works conducted by Resources Cartier Inc. in nearby areas show a great potential for gold and base metal discoveries.
Please see: http://www.asiaprop.com/properties/banroy-gold/property-description-and-location/
Daniel McKinney, CEO of API, commented; "The next step will be several prospecting site visits by our consultant geologists to the claims over the next few months. Their goal is to understand exactly what we have in the mineralized zones on the property. Concurrently, we are conducting intensive due diligence and negotiations on a number of other very interesting gold mining properties."
About Asia Properties, Inc. (ASPZ:$0.1700,$0.0100,6.25%) : is a Nevada corporation and trades on the OTCQB under the symbol "ASPZ. The transfer agent is Transfer Online, Inc. of Portland, Oregon. Please visit our website: www.asiaprop.com
The Asia Properties, Inc. (ASPZ:$0.1700,$0.0100,6.25%) logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1733
This press release contains forward-looking statements based on management's expectations and beliefs, and may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.
CONTACT: Investor Relations:
Dennis Burns
Tel: 419-951-4842
denny@nvestrain.com
Image: API Logo
We seem to have some very strong hands moving into this stock. The buying pressure is slow and steady...very disciplined.
Smart money? I'd like to think so.
While we don't have great volume, we do seem to have determined buyer(s)who are smart enough to bide their time and pick all the shares when nervous investors bail out in these tough markets.
I suspect also these buyers are picking up on rumors circulating re the new ASPZ biz model.
Looking good IMO.
I agree. And we haven't even begun to look at potential valuations based on the new acquisitions.
The market mess didn't help things either, pretty sure that kept some people out of the market (including ASPZ). When the dust settles, we will rally further.
With our share structure, I expect a new base to form around .25
JMPOV