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Compare that with what was in the Dec 22, 2010 8-K
While the Company’s business strategy includes acquiring additional gold properties, if possible, the Company has no present intention to acquire additional properties from KATX or any other source and does not in any event presently have the means to make any further acquisitions. The Company would have to raise additional financing over and above the sums discussed above in order to contemplate making acquisitions of any other gold properties. There can be no assurance that the Company will be able to acquire any gold properties in addition to the Handcamp property...
...The Company is in discussions with prospective investors to provide such funding and anticipates that the receipt of such funds would enable it to satisfy its cash requirements for a period of six (6) months.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7621865
Based upon the Company’s present cash position, it will need to raise additional capital prior to December 31, 2010 in order to fund further exploration and acquisitions. The Company is in discussions with prospective investors to provide additional funding in exchange for equity. In order to finance further exploration and acquisitions, the Company will need to raise a minimum of $2.5 million. However, there can be no assurance that the requisite financing will be raised in the necessary time frame or on terms acceptable to the Company, if at all. Should the Company be unable to raise sufficient funds, it may be required to curtail its operating plans if not cease them entirely. There can be no assurance that the Company will be able to operate profitably on a consistent basis, or at all, in the future.
There are at present no specific plans to acquire properties from KATX.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7519490
Good points. Unfortunately, I don't have the answers, and as you stated, the answers should come from management.
KAT still has a lot of potential. But "potential" is just that, potential. I look forward to hearing concrete info from the company...hopefully, in the near future.
I was just trying to point out that BVIG as "acquired 100% of the mineral rights" and that the remaining 96 million "Handcamp shares" have already been transferred to KATX.
Good luck all
On June 4, 2010, pursuant to a purchase agreement (the “ Agreement ”) dated as of May 28, 2010 by and between BVIG and Kat Exploration Inc., a company organized under the laws of Nevada (the “ KATX ”), BVIG acquired (the “ Acquisition ”) 100% of the mineral rights that KATX then held in and to “Handcamp,” a gold property located in the Province of Newfoundland and Labrador, Canada (the “ Property ”) from KATX in exchange for 161,000,000 (the “ Handcamp Shares ”) shares of its Common Stock. BVIG issued 65,000,000 Handcamp Shares to KATX on June 4, 2010; the remaining 96,000,000 Handcamp Shares were issued on September 14, 2010.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7621865
No doubt Ken's an experienced explorer. But I'd have to agree with the PR wording. I specifically requested (on a couple occasions) that they put the findings into a context that is relevant to "average Joe investor," or that makes clear the implications of the findings. One of the first rules of public relations is to ALWAYS consider your target audience (or to whom you're speaking). You don't toss out a bunch of technical jargon to the general public or investment community at large, unless you intend to "break it down" in simpler concepts immediately after. Such jargon should be reserved for technical reports or presentations for the mining/exploration community. BTW, this is not just an opinion. This is basic marketing 101.
Regarding your other point: with the HC drill results we did get a little initial surge upon release of the PR, but we closed flat, and again started the downward trend the next trading day. For the record, I don't think HC phase I results were terrible either. I'm actually pretty excited to see what phase II and III have in store.
Good read steesharp. There's a lot of truth in that article, and it adds perspective. Thanks for sharing.
~Biochemist2002
This is what I was saying a while back...that is, that the rise in pps was almost entirely due to anticipation leading up to the record date of 7/16/10. If you recall, we weren't even waiting for drill results prior to that. We weren't necessarily expecting anything concrete that I'm aware of. In fact, I believe we closed around 0.18 on Friday, 7/16 (record date), and opened at 0.14 the next trading day. And ever since then, the price has fallen back to where we are now, with the exception of a few intraday surges due to PR or momo. But with 99% of the PRs we received in 2010 (with the exception of the $5 million financing announcement), we always had a nice little run, but a pullback to close either flat or red.
My point: I believe the distribution record date was the primary cause for the steadily increasing pps to the mid .20s/teens. THIS is precisely why I said it is so important that they wrap this distribution up. For the record, I think we'll get our shares, but I can definitely see why many are not happy about the way this has been handled.
The SEC can't "approve" or reject forms that haven't been submitted yet...that's my only point.
RE:
"do you know what the SEC is requiring KATX to do before the shares can be submitted???"
balihi,
I'd like to think it was ALL due to the SEC, but the fact remains that they have not even submitted the S-1. Like I said, why not submit it, see what the SEC says, then amend it if necessary? This is quite common actually.
I'm quite familiar with dealing with governments (city, state, and federal, even international) per my job. Most the rules/regs are drawn up by beaurocrats who have no knowledge of the industry they're regulating to begin with. I'm also aware that "government" often mandates rules/regs saying you "shall" do this or that, but provide ZERO guidance as to HOW to comply.
One may even have to make several amendments, BUT, at least there's a PAPER TRAIL showing that you've been working through the issues by amendments and revisions. Submit your paperwork, and THEN answer their "issues." You're putting the ball in their court. Been there, done that...daily. You can always re-submit.
EDIT: maybe the last couple 8-Ks and 8-K/As are part of the "paper trail" to sort out the "issues" prior to filing the S-1...I just don't know for certain.
Respectfully,
Bio
I'm not sure. But if they had it already filled out in an electronic format, one would think they could print it out, or export it to MS Word or some other format and re-submit. Either way, I have not seen any S-1 submitted. I would think that they could submit it even if the the SEC has issues, and then the ball is in the SEC's court to approve/reject, and provide guidance. They can always submit and amended S-1 (the S-1/A).
I should add that, I think perhaps the last several filings 8-Ks and 8-K/As may have been the company's attempt to satisfy the SECs issues. That's just my opinion though.
~Bio
I've been following the "share distribution" process relentlessly, and maybe I can add to the discussion.
1. It is not a "dividend," but a share distribution (just to clarify for some)
2. The SEC did take "issue" with the distribution, but has not issued guidance (per the last several Kat Gold filings)
3. Kat Exploration STILL has to file the S-1 to register the shares prior to distribution
So, one could argue that the SEC is the reason for the delay, in that they have not provided guidance to the company as to how to mitigate the SEC's "issues."
HOWEVER, one could also argue that the company has not even submitted an initial S-1, which could at least get the ball rolling in the SEC's court. One could even speculate that until the company files the S-1, the SEC won't issue the "guidance" the company needs. Or perhaps the case is that they cannot submit it until the SEC's issues have been resolved (I don't know for certain).
Now, if it were up to me, I would go ahead and file the S-1; wait for the SEC's approval or rejection (and reasoning for the rejection); then perform whatever corrective actions the SEC desires; then file an amended S-1 (S-1/A). Companies routinely amend S-1's.
There's no doubt that there are a LOT of "hard feelings" about the "share distribution." I can't deny that. Heck, I've been saying for months that we should be seeing the S-1 "any day ow." It hasn't happened. IMO, the company made an enormous error by putting out the follow-up PR/blogs stating they were going to issue the shares unrestricted, then saying it was taking longer than expected but that we'd receive them much sooner than they would have become unrestricted (if issued restricted for 6 months). It has undoubtedly reflected poorly on the company's judgement, or the law firm's judgement. I DO think the shares will come, but at this point, and until this happens, any further PRs about share distributions will likely not be received well by the public.
P.S. In a conversation I had with Jack Zwicker, December 22, 2010...
I first asked him: "I saw the two filings today. Do we still have to file an S-1 to register the shares prior to a distribution?"
His answer: "Yes"
Next, I specifically asked him: "Is the SEC still taking "issue" with the share distribution?"
His answer..."Hopefully all will go well with the S-1."
I'll let you guys interpret that how you will.
P.S.S. sorry to chime in, but I thought maybe I could add to the discussion.
Peace and good luck,
~Biochemist2002
Re: Vale-KATX versus Vale-Cornerstone deal:
Sorry, I meant to put this link (below) to my comparison of the two deals:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57494485
~Biochemist2002
Nice list Rick...my thoughts
I like the "Lucky" properties too:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56294169
Comparing our Vale option agreement on "Lucky(ies)" to Cornerstone’s deal:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55158917
Possible Vale deal for the "Clifton" property too?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55150695
I've been liking the "Cabot" since they announced the option to acquire it. I like the fact that the "Cabot" has also already been drilled with an estimated 18-20 MILLION TONS of low grade copper ore (including cobalt). Although, the gold potential is whats' most attractive...one vein showing 10 g/t Au, with the highest reaching 12 oz/t Au
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53829607
Don't forget that "TwiLite" has been drilled already too:
Twilite Gold Property
The gold mineralization occurs in areas hosted by several styles of alteration and rock type including:
The Discovery Prospect: Zone of quartz veining and associated silicification, high of 202 g/t Au (Visible Gold).
The Spring Pit prospect: bedded pyrite/mafic fault gouge (high of 14.9 g/t).
The 320 Vein: zone of quartz veining and quartz breccias (high of 16.6 g/t).
The Paddy’s Pitt prospect: silicified and brecciated siltstone (high of 23.80 g/t).
http://www.katexploration.com/Graphics/properties/Twilite%20Property/Twilite%20Property%20Data.pdf
Just checking in...been busy with the holidays and such.
Nice day for KATXers. Have a good weekend and I wish you all a great new year.
~Biochemist2002
EMLL summary of mining/exploration events as of 12/31/2010:
The bold/underlined parts highlight the main points of interest...
El Maniel International Inc. Gears Up to Mobilize Alluvial Gold Mining Operations in West Africa; Rolls Out Mining Program Under Wholly Owned Subsidiary EMLL Mining Limited
NEW YORK, Dec. 28, 2010 (GLOBE NEWSWIRE) -- El Maniel International Inc. (Pink Sheets:EMLL) announced today that the Company has incorporated a 100% owned local subsidiary in Ghana, West Africa to consolidate all its alluvial gold mining activities in Ghana. "The primary objective of this exercise is to facilitate commencement and mobilization activities of the Plot C - 25 acre alluvial mining known as the Kumasko Project" according to El Maniel's CEO, Jamie Khoo. "EMLL Mining Limited is a company incorporated in Accra, the capital of Ghana with operations driven by skilled and experienced team in alluvial gold mining with successful project management track records."
"El Maniel is also in the advanced stages of discussion with leading financial institutions in Africa such as UniBank (Ghana) Limited to secure funding and trade facilities of US$2 million through EMLL Mining Limited in the form of letter of credit and export credit facilities," states Jamie Khoo "At this point in time, we are examining a number of very interesting offers before proceeding with a short-list of potential funding and trade financing options."
UniBank (Ghana) Limited was incorporated in December 1997 and this Ghanaian wholly owned financial institution was established to provide a broad range of banking services with a niche focus in the Small and Medium Enterprise (SME) industries. The objective of the bank is to see the growth of small and medium sized enterprises into giants that can propel the country's economy to great heights.
"Earthwork and site preparations for Kumasko Project is the first step in a program of work that has commenced and will last through to January 2011 resulting in the provision of basic infrastructure at the 25 acre alluvial gold mining site situated next to the scenic Ofin river in Bosomase - Upper Denkyira District of the Central Region of Ghana for immediate mobilization and gold production," commented Jamie Khoo. "We are quite optimistic in yielding stockpiles of alluvial gold ore from the Kumasko Project site at a recovery rate of at least 2.0 g/t," added Jamie Khoo.
El Maniel is currently focused on prospecting, developing and expanding the economic potential of world class mining claims located in Ghana, West Africa and the company is committed to shareholder's value creation by ensuring constant development of current and new resources. For further information and updates on El Maniel, stay tuned to www.elmanielinc.com
"SAFE HARBOR " STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.
CONTACT: El Maniel International Inc.
+1 (917) 934 3643
info@elmaniel.com
http://www.elmanielinc.com
http://globenewswire.com/newsroom/news.html?d=209882
NEW YORK, Dec. 13, 2010 (GLOBE NEWSWIRE) -- El Maniel International Inc. (Pink Sheets:EMLL) announces the update of its corporate website www.elmanielinc.com "This current online update includes the cadastral map of our new 25 acres alluvial gold mining claim known as Plot C or the Kumasko Project which is neighbor to large scale miners listed on stock exchanges like ASX and TSX" states Jamie Khoo, President and CEO of El Maniel "We are very optimistic on the Kumasko Project as it is located near and bordered to the proven gold belt of the Ashanti Region by the Ofin River".
A cadastral map is a map that shows the boundaries and ownership of land parcels. Some cadastral maps show additional details, such as survey district names, unique identifying numbers for parcels, certificate of title numbers, positions of existing structures, section or lot numbers and their respective areas, adjoining and adjacent street names, selected boundary dimensions and references to prior maps.
"More than 1.45 million ounces of alluvial gold was historically recovered from the well known Ofin river and alluvial gold prospecting of this 25 acres area will be aided by river access" according to Jamie Khoo "We also have excellent access to port and road infrastructures from the mining site".
El Maniel is currently focused on exploring, developing, prospecting and expanding the economic potential of world class mining claims located in Ghana, West Africa and the company is committed to shareholder's value creation by ensuring constant development of current and new resources. For further information and updates on El Maniel, stay tuned to www.elmanielinc.com
http://globenewswire.com/newsroom/news.html?d=208998
NEW YORK, Dec. 2, 2010 (GLOBE NEWSWIRE) -- El Maniel International Inc. (Pink Sheets:EMLL) announces that on December 1, 2010, the Company acquired 95% interest in the 25 acres of gold mining claim (or better known as "Plot C") located in the Upper Denkyira District, Bosomase, Ghana, West Africa from Kumasko Mining Enterprise ("Kumasko Enterprise"), a company incorporated in Ghana. "This is the Gold Mining Claim in question with all the necessary permitting for immediate mobilization works and with Plot C in place, we can expect rapid acceleration of our mining program in Ghana" according to the CEO of El Maniel, Jamie Khoo. "This property is rectangular shaped and has proven alluvial gold mineralization being situated in the vicinity of Ghana's popular "Golden Triangle".
About Plot C – 25 Acres Mining Claim in Ghana
Mining Claim: Alluvial Gold Mining Claim known as "Plot C"
Location: Upper Denkyira District, Bosomase, Central Region, Ghana, West Africa
Land Area: 25 Acres
Coordinates:
North of Latitudes 5º55'26'' and 5º55'24'' and to the South of Latitudes 5º55'41'' and 5º55'40'';
East of Longitudes -1º34'14'' and -1º34'10'' and to the West of Longitudes -1º34'04'' and -1º34'07''
Access: Prospecting in this area will be aided by a river access and by national access roads.
Weather:Favourable all year round weather conditions
http://globenewswire.com/newsroom/news.html?d=208211
NEW YORK, Nov. 23, 2010 (GLOBE NEWSWIRE) -- El Maniel International Inc. (Pink Sheets:EMLL) ("El Maniel" or "the Company") is pleased to announce the progress of on-going geological survey activities on its 200 acres of alluvial gold mining concession in Ghana, West Africa, whereby the geological survey of the first 100 acres, or better known as "Plot A", and the second 100 acres ("Plot B") are 50% and 10% completed, respectively...
"Apart from these 200 acres, El Maniel is quite optimistic in accelerating the initiation of mining activities and production of another 25 acres ("Plot C") of alluvial gold mining concession located at Bosomase, with permitting in place for mobilization works, and the Company will be considering the options of inviting tenders from mining services companies for contract mining on this gold field," according to Jamie Khoo...
http://globenewswire.com/newsroom/news.html?d=207644
NEW YORK, Nov. 9, 2010 (GLOBE NEWSWIRE) -- El Maniel International Inc (Pink Sheets:EMLL) announces completion of geological mapping on the additional 100 acres [plot B] alluvial gold mining concession in the South-Western Region of Ghana, West Africa. "During this additional 100 acres geological mapping and also the on-going geological survey of the first 100 acres [plot A], we gained significant knowledge of our property located in Ghana's Golden Triangle, an area in the South-Western Region of Ghana and we are very excited about the progress" according to CEO of El Maniel, Jamie Khoo
http://globenewswire.com/newsroom/news.html?d=206516
NEW YORK, Oct. 13, 2010 (GLOBE NEWSWIRE) -- El Maniel International, Inc. (Pink Sheets:EMLL) announces completion of geological mapping on the first 100 acres [plot A] it started just weeks ago in the alluvial gold mining initiative located in Ghana, West Africa.
CEO of El Maniel International, Inc. Jamie Khoo proudly comments that, "This benchmark crystalizes the gold mining initiative of El Maniel in the African continent and immediately allows the company to expedite the geological mapping on an additional 100 acres [plot B] of alluvial gold mining concession land on the Ghana plot as results have been promisingly optimal thus far."
"Geological mapping is a special purpose overview created to show subsurface geological features which provides a plan view of a specific area," states Jamie Khoo. "They are usually produced by a combination of aerial surveys and on location mapping to produce an optimal overview for a survey. El Maniel, satisfied with the geological mapping on the initial plot [plot A], is preparing to move into geological survey [on this plot A]concurrent with the geological mapping on the additional acres [plot B]."
Specifically, a geological survey employs techniques including machine driven boreholes to extract samples for lab analysis which allows El Maniel to determine actual gold reserves and facilitate planning towards commercial production. According to Jamie Khoo, "As gold prices continue to chart record high levels, profit margins for these tangible assets are expected to increase accordingly and El Maniel will be stepping on the gas to bring gold to the market by end of Q4." Forthcoming updates will be available online via www.elmanielinc.com
http://globenewswire.com/newsroom/news.html?d=203640
...iron ore prices ranged from $97 to $113 (USD) per ton during January through May 2007 (National Development and Reform Commission (NDRC)).
read more here:
http://www.mine-engineer.com/mining/iron-ore-price.htm
November 22, 2010
...Offers for Indian ore with 63.5 percent iron content stayed between $167 to $169 per tonne on Tuesday...
http://bestshippingnews.com/freight-news/iron-ore-prices-stable-as-chinese-buying-slowed/
The 50 million shares the financiers received in exchange for up to $5 million, should be coming off "restriction" about now (assuming they had a 1 year restriction). If they're not unrestricted yet, they will be within weeks. The financing was announced January 15, 2010, but we don't know exactly when the deal was signed and closed. Not sure if this was the 50 million shares you guys were talking about.
Jan 15, 2010
Kat Exploration Secures up to $5 Million Funding With 50 Million Restricted Shares and Retires REG-D 504
MOUNT PEARL, NL--(Marketwire - January 15, 2010) - Kat Exploration Inc. (PINKSHEETS: KATX) www.katexploration.com
KAT Exploration has secured funding for up to $5 million. The funding contract guarantees $1 million over the next 6 months and the remaining $4 million to be delivered upon agreements within the contract being achieved over the course of the following 6 months of no specific date. The funding is to provide operational support for Kat for at least the next 5 years. The funding was secured with 50,000,000 restricted shares.
Kat Exploration has retired its previously executed REG-D 504. There are no REG-D 504 offerings, warrants or options in place to date.
http://www.marketwire.com/press-release/Kat-Exploration-Secures-up-5-Million-Funding-With-50-Million-Restricted-Shares-Retires-1184994.htm
I haven't posted much the last several days, mostly due to shock and being busy with family/holiday events...but, I emailed Ken and Jack Saturday and asked if they sold shares Thursday. Ken (to my surprise) emailed within about 5 minutes, and said no (short version). This morning I got Jack's response, which was "No KAT did not sell any shares."
I'm not going to post the emails though, because some will believe it and some won't. My suggestion, would be to email Ken/Jack to get confirmation for yourself, if you don't take my word for it. Although, from the sound of Ken's email, it sounded like he already received a lot of other emails asking the same question (it wouldn't surprise me).
In any event, I really don't know what to make of Thursday's PR. If anyone is interested in my opinion, here it is:
I have no clue why they would put out a PR with very little (if any) results in from the lab(s), unless they thought they were doing us a favor by providing an "update" before the holiday (I won't comment on that). I am still perplexed by the significant drop in pps, given I didn't really see anything absolutely terrible in the PR. Maybe it was a combination of things, i.e. MM manipulation (standard "bad guy" in such scenarios), panic selling, people taking their end-of-year tax loss, or maybe it was just perceived 'uncertainty' from the PR itself. I imagine it was a combination of all of the above. In any event, it doesn't really matter, because the pps is what it is now. Unfortunately, I have no control over that.
I hope everyone had a nice Christmas, regardless of Thursday's events. Trust me, I felt the pain as well. Spending time with family provided much needed "therapy."
~Bio
You too, buddy. I will still be celebrating the birth of my savior, Jesus Christ, this Christmas.
At this point, all I can say is at least I still have my "treasure" HE has stored up for me in Heaven - and in the end, I suppose that's all that matters.
Although, admittedly, a little "treasure" here would have really come in handy.
I have no comment on today's PR. I think the market did enough talking.
I'm sincerely sorry for any losses incurred today. I have tried to be a good servant to you guys, and hold all in the highest regard. I wish you all a very joyous Christmas, regardless of today's circumstances.
I provided facts complete with links in my posts. I cannot control what the results will be or how the company chooses to PR.
Any speculation on my part was backed up with a link to why I felt a certain way.
Screenshot of new Rusty Ridge claims record
http://gis.geosurv.gov.nl.ca/resourceatlas/viewer.htm
and here's the "claims inquiry" and description:
http://gis.geosurv.gov.nl.ca/mrinquiry/license.asp?license=018404M
Notice they just staked them today. Looks like they are free to release the lab results...I'm thinking tomorrow morning would be nice ;)
BTW, thanks goes out to BMB for the tip on the CDII conference call and now this tip on the new claims.
This certainly explains the silence. I guess they didn't want to let the "KAT" out of the bag before they had a chance to buy up the surrounding claims. Sweet!
up to 500 million A/S, and up to 5 million preferred.
...and you don't see any room for a third party? LOL.
I believe the S-1 should be the next filing to look for. TA likely won't have anything until the SEC gets the S-1 to register the shares. Then the shares can go to the TA for distribution. Should be any day now for the S-1.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=54763903
BUT...we are much closer than before, IMO.
~Bio
Another filing today. Schedule 13D
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7621698
I believe the share distribution is coming very soon...
Schedule 13d
From Wikipedia, the free encyclopediaJump to: navigation, search
Schedule 13D is an SEC filing that must be submitted to the US Securities and Exchange Commission within 10 days, by anyone who acquires beneficial ownership of 5% or more of any class of publicly-traded securities in a public company. A filer must promptly update its Schedule 13D filing to reflect any material change in the facts disclosed, including, among other things, the acquisition or disposition of 1% of the securities that are the subject of the filing.
Contents [hide]
1 Form Uses
2 Reading the Form
3 See also
4 External links
[edit] Form Uses
13D filings allow the investing public to see who a public company's large shareholders are and, perhaps more importantly, why they have an interest in the company. These filings may be a precursor to hostile takeovers, company breakups, and other "change of control" events.
[edit] Reading the Form
Schedule 13D consists of seven different sections:
Security and Issuer - This section contains basic information regarding the type and class the security and the contact information of the owner.
Identity and Background - This section contains even more background into the owner, including if they were involved in any criminal activity in the past.
Source and Amount of Funds or Other Considerations - This section lets investors know where the money is coming from. The most important use for this section is in determining if a buyout situation is overleveraged, when a majority of the purchase is leveraged or borrowed capital.
Purpose of Transaction - This is the most important portion of the 13D filing. It allows you to see why they are buying shares in the company, whether it be for acquisition, hostile takeover, proxy war, or simply because they believe it is undervalued.
Interest in Securities of the Issuer - This section states the express purpose of the transaction, which should be explained better in section 4 (Purpose of Transaction).
Contracts, Arrangements, Understandings or Relationships with Respect to the Securities of the Issuer - This section contains any special relationships between the owner and the company. This is important to be sure that the buying is legitimate and not just a friend purchasing stock or the result of some other agreement.
Materials to Be Filed as Exhibits - This is the second most important section. It contains any exhibits that may be filed along with the form. This is famously used for the filing of letters to management in the event of a hostile takeover. Exhibits can also elaborate on the Purpose of Transaction (Section 4).
en.wikipedia.org/wiki/Schedule_13d
These three 8" dredges are capable of processing about 50-60 tons per hour each for total processing of about 150-180 tons of material each hour. The plan is to deploy around a dozen or more additional dredges over the next several months.
http://www.marketwire.com/press-release/Sunergy-Arranges-Asset-Backed-Financing-Initial-Equipment-Commence-Recovery-Operations-1358088.htm
I'd imagine Parent figured investors might like to see where they are in the process of acquiring dredges.
In any event, like I said, three 8" dredges have already been ordered and are currently being custom fitted; Allied's existing 6" dredges are on their way to Ghana for production now, and three additional 8" dredges will be ordered shortly.
Oh yeah, and there should still be plenty rare earths and other valuable minerals in commercially exploitable grades.
500,000 ounces of gold in just the north 28% of the 140 sq km concession.
In any event, this investor appreciated the update.
~Bio
Re: no assets and Allied being on Pampana for several years:
Sunergy, Inc (the "Company") (PINKSHEETS: SNEY) reports that it has made suitable arrangements for purchase of the initial three Custom Double Sluice 8" Gold Grabber sump dredges it recently ordered from Gold Dredge Builders Warehouse of Riggins, Idaho. Recovery operations of rare earths (REEs), gold and diamonds from its 140.1 sq. km. Pampana River concession in Sierra Leone, West Africa are scheduled to commence in early January, 2011.
The terms of financing are as follows...It is expected that the first several dredges will be financed on these terms. Future dredge financing terms are subject to change without advance notice. This is not a solicitation for financing but this information is provided for disclosure purposes only.
The dredges have custom modifications based on field testing and sample mining by Allied Mining & Supply personnel and are being custom fitted with gemstone and heavy mineral sands recovery systems. These three 8" dredges are capable of processing about 50-60 tons per hour each for total processing of about 150-180 tons of material each hour. The plan is to deploy around a dozen or more additional dredges over the next several months...
...Sunergy President Bryan Miller says: "...Allied's existing 6" exploration dredge will be shipped to Ghana to start operations on our 150 sq. km. Offin River concession and of the next three 8" Custom dredges expected to be ordered shortly, one more will go to Sierra Leone and two will go to Ghana. We plan to deploy around a dozen dredges in each river system over the next several months. A dozen dredges allow for from 1800 to 2160 tons/hour of material processed"...
http://www.marketwire.com/press-release/Sunergy-Arranges-Asset-Backed-Financing-Initial-Equipment-Commence-Recovery-Operations-1358088.htm
Assays of heavy black sand concentrates containing rare earths (REEs) in 2009 and 2010 showed quantities of rare earths and other valuable minerals in commercially exploitable grades. Recent assays by ALS Chemex in Sparks, Nevada identified several of these rare earths contained in the heavy black sands along with gold as follows: Lanthanum, Scandium, Thallium, Cerium, Dysprosium, Hafnium, Lutetium, Niobium, Neodymium, Praesodymium, Tantalum and Zircon.
Substantial concentrations of gold have also been determined to be contained in the concession. Data indicates gold concentrations ranging from 1 to 18 grams per tonne of material. Fire assays conducted in Freetown, Sierra Leone, indicate gold purity to be 89%. Over 500,000 ounces are contained in reports in the north 28% of the 140 sq. km. concession.
http://www.marketwire.com/press-release/Sunergy-Arranges-Asset-Backed-Financing-Initial-Equipment-Commence-Recovery-Operations-1358088.htm
Re: Asset backed financing...and "discounted shares"
I believe the offering was to finance the dredges, as PR'd 11/23/2010:
Sunergy Arranges Asset Backed Financing for Initial Equipment to Commence Recovery Operations of Rare Earths (REEs), Gold and Diamonds on Its 140 Sq. Km. Pamapana River Concession in Sierra Leone, West Africa
SCOTTSDALE, AZ--(Marketwire - November 23, 2010) - Sunergy, Inc (the "Company") (PINKSHEETS: SNEY) reports that it has made suitable arrangements for purchase of the initial three Custom Double Sluice 8" Gold Grabber sump dredges it recently ordered from Gold Dredge Builders Warehouse of Riggins, Idaho. Recovery operations of rare earths (REEs), gold and diamonds from its 140.1 sq. km. Pampana River concession in Sierra Leone, West Africa are scheduled to commence in early January, 2011.
The terms of financing are as follows: Each dredge cost = $50,000 incl. shipping. Investor purchases and owns the dredge. Sunergy lease purchases from Investor for a total payment of $62,500 over seven months as follows: After an initial operating period of 90 days, four equal monthly payments of $15,625 to pay in full. In addition, a further $12,500 worth of restricted stock at a 20% discount to market plus a 1 year warrant at a 40% premium to market is added as a form of bonus. Should the investor elect to re-invest in an additional dredge he retains the option of the same future terms. It is expected that the first several dredges will be financed on these terms. Future dredge financing terms are subject to change without advance notice. This is not a solicitation for financing but this information is provided for disclosure purposes only.
Sunergy's wholly owned subsidiary, Allied Mining & Supply, LLC owns the exclusive international distribution rights for the commercial dredges and mining equipment from Gold Dredge Builders Warehouse. This commercial line of dredges and recovery equipment is based on the original flared sluice designed by Alan Trees and proven in the harshest environments worldwide.
The dredges have custom modifications based on field testing and sample mining by Allied Mining & Supply personnel and are being custom fitted with gemstone and heavy mineral sands recovery systems. These three 8" dredges are capable of processing about 50-60 tons per hour each for total processing of about 150-180 tons of material each hour. The plan is to deploy around a dozen or more additional dredges over the next several months.
Assays of heavy black sand concentrates containing rare earths (REEs) in 2009 and 2010 showed quantities of rare earths and other valuable minerals in commercially exploitable grades. Recent assays by ALS Chemex in Sparks, Nevada identified several of these rare earths contained in the heavy black sands along with gold as follows: Lanthanum, Scandium, Thallium, Cerium, Dysprosium, Hafnium, Lutetium, Niobium, Neodymium, Praesodymium, Tantalum and Zircon.
Substantial concentrations of gold have also been determined to be contained in the concession. Data indicates gold concentrations ranging from 1 to 18 grams per tonne of material. Fire assays conducted in Freetown, Sierra Leone, indicate gold purity to be 89%. Over 500,000 ounces are contained in reports in the north 28% of the 140 sq. km. concession.
Sunergy President Bryan Miller says: "I am encouraged that our asset backed dredge finance program has found early acceptance. This enables the future of our mining operations in both Sierra Leone and Ghana. Allied's existing 6" exploration dredge will be shipped to Ghana to start operations on our 150 sq. km. Offin River concession and of the next three 8" Custom dredges expected to be ordered shortly, one more will go to Sierra Leone and two will go to Ghana. We plan to deploy around a dozen dredges in each river system over the next several months. A dozen dredges allow for from 1800 to 2160 tons/hour of material processed."
Sunergy Chairman P.K. Medhi says: "We are now advancing our operations in Sierra Leone and Ghana. The dredging operation is the fastest and least expensive method to demonstrate the viability of the recoverability of our rare earths, gold and diamonds in Sierra Leone and Ghana. Just below our Nyinahin concession on Ghana's Offin River, 1.45 million ounces of gold has been recovered by dredging operations historically." (See Levich Alluvial Report on our website)...
Contact:
Bryan Miller
President
707.738.4280
bryan@alliedminingandsupply.com
Sunergy Inc.
14362 N. FRANK LLOYD WRIGHT BLVD
SCOTTSDALE, AZ 85260
Phone: 480.477.5810
Fax: 480.477.5811
Investor Relations:
Steve Parent
480.399.7222
steve@sunergygold.com
http://www.marketwire.com/press-release/Sunergy-Arranges-Asset-Backed-Financing-Initial-Equipment-Commence-Recovery-Operations-1358088.htm
wshaw14, to be fair, I believe those were also restricted for 6 months, and you had to purchase a minimum of $5,000 worth...unless I'm mistaken. Because I had asked about purchasing the "discounted" shares as well, and that's what I was told. Please correct me if I'm wrong.
IMO, that's a pretty substantial commitment for a penny stock, considering the relative risk. In which case, I can understand offering shares at a discount, especially if I'm going to have any amount of money "locked in" to a penny stock for 6 months. A lot can happen in "penny land."
In any event, I believe SNEY has a lot of potential. Honestly, I'm not too thrilled with their current PS status, but if the company was sincere in the last two PRs, we should be seeing several filings in the relatively near future.
LOL. BAHAHAHAHAAHHAHAHAHA!
I have no clue what she just said. LOL. I'm absolutely rolling right now. I actually think my I.Q. just dropped a couple points. What is this alleged "photograph of the trading session's alloy"?
Note to self: never invest based on that company's advice...
Where were all these alleged "stock alerts"?
What the hay is she talking about? It sounded like gibberish. I couldn't deduce a single rational thought. LOL.
LOL.
SR, no doubt there is a difference. My point is they're conducting a geo survey. They will take samples, no? Of course they will. They've said as much via PR, and those samples will be assayed, and then they can either report in a table or plotted on a grid, etc. (as shown in the examples I listed). Alluvial mining might be a different breed when it comes to actual "mining," but a geo survey is a geo survey. I would expect to see lab results, and if not, then I would raise an eyebrow. And in response to your post last night...
So in less than 2 weeks 50 Galamseys will push up their pants and mud sling. Some 'production'.
http://investorshub.advfn.com/boards/replies.aspx?msg=57977015
I understand that's a package. The point is uranium was indeed present. Those are not instrument "noise" and are not "non-detect" results, else you would see a "<" symbol or a "U" flag or whatever flag Canadian labs use to qualify the data. So, what I'm saying is that uranium was present. I'm not making a call as to whether they were good or bad. Not that it matters anyways, because they're surface samples, and the drill cores would have to tell us what is below for certain. But what costs more, gold or uranium? I only ask because several of those samples range from 4.5 to 6.0 to 9.7 ppm (or g/t)...which would not be too shabby for gold. Could you tell me what numbers one would like to see for uranium?
Re: looking for an assay
That's what I would expect to see. In this phase of exploration, the company will pull samples throughout select areas, and submit for analysis. They can submit samples as they pull them and wait for results to further focus their exploration to a more interesting area, or they can submit all at once. Regardless of how they submit, they can then choose to report all results at the same time, or by area. As for reporting, they can report in various formats, but often the company will plot the results on a map/grid for visual effect (see examples below). Now, even though this is in Ghana, many companies will report using a standard that's recognized, such as the Canadian NI 43-101 standards. To comply with these standard, for example, they would need to identify a "Qualified Person" who's reviewed the data and approved the report/PR. Granted, this is my first go-round with alluvial mining, but I imagine that's what we should see. To be honest, I would like to see some data for the area said they plan on mining in the near future though.
Re: Uranium on Rusty Ridge...historical assay results
June 12, 2003...page 35
http://gis.geosurv.gov.nl.ca/geofilePDFS/ReceivedBatch7/NFLD_2859.pdf
August 21, 2002...page 28 shows Uranium in the assays
http://gis.geosurv.gov.nl.ca/geofilePDFS/WBox035/NFLD_2821.pdf
MOUNT PEARL, NEWFOUNDLAND--Cornerstone Capital Resources Inc. (CDNX - CTP) has received the results of a 3-D magnetic inversion completed on data over a portion of the Ken's Mountain magnetic anomaly on the South Princess property. The work had been undertaken to further investigate the potential for iron oxide-copper-uranium-gold-silver-rare earth deposits in the area...
Further work in 2001 showed the Ken's Mountain area to exhibit several geological, geophysical and geochemical characteristics associated with iron oxide-copper-uranium-gold-silver-rare earth deposits, particularly deposits in Australia. The most striking characteristic is the fact that the 12 X 4 km magnetic anomaly in the Ken's Mountain area [a.k.a. “Rusty Ridge”] is adjacent to the Charlottetown Fault, a major regional structure. The South Princess area rocks developed in an extensional continental environment during late Proterozoic time, a setting common to a number of the world's largest iron oxide type deposits...
http://www.marketwire.com/press-release/Cornerstone-Capital-Resources-Inc-Exploration-Update-South-Princess-Property-381714.htm
Geological mapping is 100% complete for plots A and B, and geological surveys are in the works for those plots concurrently. For plot C, all the necessary permitting for immediate mobilization works are in place, so we can expect rapid acceleration of our mining program. Per CEO Khoo, we should begin production by end of Q4 (fast approaching).
I'll be keeping an eye out for an update in the near future.
Here's my thoughts on timelines thus far:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57492287
My take on the China Direct DD:
First, let me say "great job" on the DD. I think this would certainly explain a lot, escpecially with what was PR'd back on January 19th:
http://www.marketwire.com/press-release/KAT-Exploration-Retires-Additional-300-Million-Shares-Engages-New-Consulting-Group-Dual-1185446.htm
It's quite possible that the "consultants" we acquired in January were from China Direct (CDII). I'd even venture to speculate that they could very well be the financiers as well. From doing a little reviewing of their website, it does appear that they could pull through some major connections for KAT. This is what they do. They set up markets for metals, minerals, and other materials. And interestingly enought, one of those materials is steel. Wouldn't that be fantastic for KAT, given I am thinkng Rusty Ridge is primarily an iron deposit? They could do like they've done before and acquire some of our properties in whole or part. I've always thought the financers/consultants directed KATX to purchase the OTCBB shell for KAT Gold and that it was part of the benchmarks worked into the deal. I believe this also has to do with us listing on a "major Asian exchange" as also mentioned in that Jan 19th, 2010 PR. I do find it interesting that Kat Gold has David Barnes as the CFO, and that he's also on the Board of Directors for China Direct. Not just that, but he's the "money guy" for them as well. Now, apparently from the transcript of the conference call to CDII investors, one of their two new "clients" is coming into a windfall, which should mean a good profit for CDII. If this is indeed KAT who is coming into some serious money, then that could definitely explain the silence from KATX. That's my take on this info anyways. It certainly would explain a lot of the companies actions this past year.
For anyone who wants to learn about China Direct, and why this is significant for KATX, feel free to check out their website:
http://www.cdii.net/
You'll also see that our new CFO David Barnes "has extensive experience with mergers and acquisitions."
http://www.cdii.net/china-direct/board-of-directors
You can read all about their "consulting" services here, and see why I think THEY are the consultants:
http://www.cdii.net/consulting-services
Another must read from CDII...
http://www.cdiitrading.com/
You can listen to their conference call here:
http://www.investorcalendar.com/IC/CEPage.asp?ID=160959
For anyone that missed it, here's the CDII info from the conference call:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57922357
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57923424
http://investorshub.advfn.com/boards/replies.aspx?msg=57923424
LOL. Perhaps you missed the heading..."Major Exploration Properties."
I rather like seeing KAT Exploration's Handcamp-Au listed as a "Major Exploration Propterty"
http://www.nr.gov.nl.ca/nr/mines/exploration/explorationactivity/expl_properties.pdf
Nice to be listed with companiies such as
Rambler Metals & Mining (RMM)...current shareprice $29.50
Vale...current shareprice $34.09
Teck Resources Limited (TCK)...current shareprice $56.20cad
P.S. Nice find Ms. Stephanie Sharp
http://www.facebook.com/pages/Kat-Exploration/283084523208?ref=ss
and thanks for posting NeomRocket:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57857855
did you actually read the question I was answering? no, you didn't. thank you and have a nice day.
It's in the process Anthony.
1. They did, in fact, purchase an OTCBB company as they said they would.
2. They did, in fact, file to change the name to Kat Gold Holdings Corp
3. They did, in fact transfer at least one property to that company, as they said they would.
4. They did, in fact, file to increase the A/S (required for our share distribution).
5. They did, in fact, transfer the remaining shares to KATX (also a step towards the share distribution).
6. They did, in fact, file the business plan, including budgets for Phase II and III of the Handcamp property
I see your point, and completely understand your frustration. I also agree that this distribution is delayed. I have no idea what the reason is, except that according to the 8-Ks and 8-K/As, the SEC took issue with them registering those shares for the reason stated in the filings. They also said that as of September 15th (the date the original 8-K was filed), the SEC did not provide guidance. However, it appears that since then, they've done so, because KAT has amended that 8-K twice, in what appears to me, to be an attempt to answer the SEC's issue...hence the much more detailed business plan/budgets, etc. described in the amendments (two 8-K/As). So, like I said, if Ken's best laid plans haven't played out as anticipated, it wasn't for lack of trying. For the record, I do believe we'll get our Kat Gold shares. Right now, it's just a matter of whether or not the SEC is satisfied with their amendments, and a matter of when we get those shares.
I wish you (and everyone) the best of luck.
~Bio
Point taken. But replies to your post make good points as well. It is in Ken's best interest to take care of shareholders. After all, he is a shareholder as well (and family, friends, etc.). To answer your question, no, I don't personally know Ken. I was just answering elcheepo's question as to where his "concern for shareholders" was PR'd. And of course, actions speak louder than words (even words in a PR). I believe Ken is trying to benefit shareholders, as evidenced by the actions he's undertaken the last 13 months or so. If Rusty Ridge doesn't do so well, or if some of his other plans don't pan out, I doubt it would be for lack of trying. Admittedly, this is just my opinion, and I've been wrong before...but I've also been right a time or two.
I guess it's just my nature to give people the benefit of the doubt, and I wish us all the best of luck with KATX, as with all of our investments.
~Bio