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further: don´t forget silver. there is a lot of silver in Mohave Consolidated (100% daughter of GNCP)- about 28% of the value of the purchased properties in M.C.inc.are silver properties!!!
SILVER seems to begin to run finally.. high in 2011 was about
US-$ 55 about...
may be this time the sky may be the limit.
concerning FFGO:
management has reduced a/s to 85 billions and it followed a debt to equity swap. payment of trade credits (about 45.000 US-$) for
"hopelessly bankrupt" HGLC: why? mockingbird and all the other valuable gold properties in HGLC? estimate of prof. colliston for mockingbird (2004) alone: about 400 mil US-$ (gold: 400$/ oz)
without the drilling campaign in 2009.
HGLC:
expert market below or above grey market?
a/s could be reduced too, like in the case of FFGO.
RENS and NMGL:
reason for the write downs until now unanswered by the expert in financing (mr. lowenthal),on principle possibility to undo the write downs (?)
the silence of management is disturbing. especially with a price of gold of nearly 1800 $/oz.
bank doesn´t allow me to buy GNCP shares because of being a "micro cap" (capitalization < 300 mil US-$).
bank declares about my "old" GNCP shares: they can´t be sold (same reason).
bank contends there are no market makers for GNCP - I think it´s obviously false.the same problem now with my other pink sheet stocks.
have you similar experiences?
NSS is not from the table.
if you sell e.g. the prefA+B and distribute the selling price among the shareholders of (former) FFGO, every (official) FFGO share gets 0,003449$.the company pays only for the (officially) outstanding shares. the probability is high that there are further shares (not sold by FFGO). the dividend for such - counterfeit - shares the illegal short sellers have to pay. this could become very expensive for these people/banks a.s.o.
exactly. but revival or reinstatement - only within two years after dissolution - is not sale of assets after dissolution. if a company is dissolved, there may be assets, which are to be sold and distributed among the (former) shareholders. no problem in Wyoming. you recognize the strategic farsightedness of Mr. Lowenthal.
and these (liquidation) dividends are the sold assets of FFGO. but FFGO has not gotten cash but these often mentioned pref A+B, which Mr.Lowenthal as CEO and President of NMGL (FORM D, 2010) has put in the vaults of NMGL. but these pref.A+B did never belong to NMGL. it was a kind of parking.
this action was necessary, because FFGO was not current with the documents. several weeks after the sale of Bouse and S.C. the law has changed. then the sale would have been impossible.
there is no coupling to two years for a dissolved corporation,
there is no coupling to two years for an administratively dissolved corporation in the state of Wyoming.
once again: you confuse reinstatement - possible only within two years after dissolution - with dissolution and its possible consequences.
management didn´t move with FFGO to Wyoming just for fun.
I repeat:"...continues its corporate existence..."(text of the law).
there is no coupling to a period of two years.
liquidation dividend possible.
nothing went back to searchlight. a termination of the contract was possible only by FFGO. that did not happen.
NO...."...continues its corporate existence...", cf. text
LAW of Wyoming:
c) A corporation administratively dissolved under W.S. 17-16-1420 continues its corporate existence but may not carry on any business except that necessary to wind up and liquidate its business and affairs under W.S. 17-16-1405 and notify claimants under W.S. 17-16-1406 and 17-16-1407.
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a company can only be reinstated within two years after the date of dissolution. here we speak about "liquidation of assets".
yes, they can. they are allowed to sell the assets of the dissolved company ( law of Wyoming).
if you liquidate assets, you don´t know in advance how much time it takes.
the underlying crimes have been committed during several decades.
GNCP - management has documented every trade for years - for nothing?? nobody will believe it.
in these lists you won´t find anything of these illegal short sales, I think that´s well known here: you have to search for illegal or naked short sales.
this kind of short sale is criminal. you can it detect only, if the criminal is forced to reveal his crime, e.g.if a cash dividend is paid by GNCP or FFGO or HGLC. in this case the criminal(s) has/have to pay the dividend for every share counterfeit.
no criminal will reveal his crime voluntarily.
so the payment of the promised stock (!!) dividend from the sale of American Molygold by HGLC would have been absolutely senseless.
imo there are NSS in the sisters, if not, the strategy of the management over the years would have been very tricky.
wait and see.
No, but since january 2017 I have to pay "custodian fees" monthly.
reason (by the bank): shares of FFGO have been declared "non-transferable" by the place of deposit, because there is no transfer agent.
a lot of people are waiting for the liquidating dividend - these prefd. As+Bs (Form D, 2010). as a justification we need these shares of dissolved FFGO imo.
the higher the price of bullion the better -of course.
the difficult decision to sell into a rising trend with all its ups and downs.
that´s Ron´s difficult decision.
I correct a mistake : illegal naked short sales.
such NSS can only be proven by cash dividends, not stockdividends.
if mgmt. wants to prove the existence of NSS - what officially is unknown -, the payment of such a cash dividend is necessary.
if there is NSS - probabilty is high -, the payment of the promised stock dividend after the sale of American Molygold by HGLC would have been senseless.
a very good statement
I agree totally. we have not only the agreements between Searchlight and FFGO and GNCP resp., additionally Searchlight was a 9,99% owner of Bouse and S.Copperstone. I don´t know, if there is a similar situation of ownership in the case of GNCP.
and if GNCP enters the contract between BLM and the third party?
GNCP has the right to so, GNCP has paid with these well known preferred stocks.
I think the idea of "one dollar per share" results from the presumption that there are massive illegal short sales.
I have doubts in this case.
Form 8K from 2010 show that 9,99% of Bouse belong to Searchlight.
FFGO had a share of about 23% of Bouse.
the ownership of FFGO and Searchlight has never been cancelled, was not possible to be cancelled.
the GNCP claims are undisputably not patented.
GNCP has paid a third party ( e.g. Searchlight Exploration, Anaconda Expl.) with preferred shares. there exist the several times mentioned agreements with the third party that GNCP has the right to find a buyer for these properties a.s.o. the question is the result of exploration by the third party and the height of the price of bullion.
wait and see...
question of "patented" claims:
I don´t know, if I understand you correctly...
do you mean the government generally hasn´t granted a patent since 1994?
here is a counterexample for HGLC:
I refer a marketwire publication (06/16/2008, 10:29 ET):
Hunt Gold Corporation -- Significant Acquisitions
...
1. Gladstone Lookout...
...460 acre claim block also includes a 50% interest in the mineral rights of the patented Lady Alde gold mine...
2. Hassaympa...
...as well as the mineral rights to the Stormcloud group of 13 patented mining claims...
3. Cherry...
...a 51% interest in the mineral rights of the Federal Mine, which is comprised of 14 patented mining claims...
we are waiting for the representation of the fate of HGLC and its
gold properties.
our liquidationdividend from the sale of FFGO´s gold properties - pref.A and pref.B - is calculated with a price of gold of about 1.230 US-$/ ounce.
if mgmt. brings the pref As+Bs to a stock exchange, they should be traded a lot higher than the liquidation preferences ($ 16 or $2,20 resp.).
the easiest way of course would be the sale of the pref.s to a mining company with an extra charge for ten years waiting time and for the strongly risen price of gold.
or from thin air, I mean by illegal activities i.e.by illegal short sales.
the claim (debt) remains against NMGL.
I think so. the same with written-down shares.
I have never contended that the written-off credit to NMGL in "under GNCP", please read my post #160791 (GNCP board). I have written that I don´t understand why two experts like Mr.Blom and Mr.Lowenthal have given the money without any security for the loan imo. they are/have been members of both managements(at least Mr. Lowenthal). so they should have known both companies.
to repeat it again:
considering the gold properties we have two sources of probably positive surprises, that is to say the exploration activities of Searchlight (or perhaps contractors of Searchlight) and the possibly exploding price of gold as a consequence of the policy of the central banks and the governments worldwide.
"stupidly" higher prices for gold (Bloomberg,$2.800/oz)??
BankAmerica: $3.000/oz ??
could become very expensive for some people,if these forecasts become reality.
I think, interesting times ahead, tomorrow or several months later.
the price of gold is the unknown.
interesting perhaps: several years ago GNCP has exchanged some properties against other properties. all without exploration? who has explored?
SEARCHLIGHT is partner from the beginning imo.
FFGO, HGLC, GNCP ... had to pay certain amounts of money for the properties. they have paid to SEARCHLIGHT. SEARCHLIGHT had two possibilities: to pay the money to the owners of the properties or to explore. I think the managements have decided to eyplore. what else? the other option would be senseless to me. the firms have paid with pref.stocks e.g.
so we have the chance to participate from the exploration results and from the rather strongly rising price of gold.
and remember: prof. colliston has used detailed exploration results of wellknown exploration /gold mining firms for the preparation of his assessments for Bouse and Mockingbird.
considering FFGO: before they exchanged debt to equity Searchlight hold 9,99% of the Bouse shares and 9,99% of the s.c. shares.
i`m sure Searchlight has explored most or all of the properties of FFGO, HGLC, GNCP...probably this is the reason for all these pref.shares (GNCP). wait until clearing
they can´t erase. several years (3 or 4) ago the bank has written to me similar things and they offered me in their christian generosity to cancel the shares for free. i didn´t accept it and since I pay them monthly custodian fees.
FFGO is administratively dissolved in Wyoming, but that´s no problem. before that event mgmt. had sold the assets of FFGO to NMGL and had got these pref. As+Bs. i suspect these shares will appear in the not too distant future.