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Diamond prices reflect demand
By Jennifer Heldt Powell
Tuesday, November 16, 2004
If a diamond is forever, then forever is getting a lot more expensive.
The demand for ``a girl's best friend'' is outpacing supply, which has driven prices up 18 percent to 20 percent in recent months and could lead to another price jump after the holidays, say industry analysts.
But the price hike isn't denting desire for the precious rocks, say local jewelers.
``Diamonds are still the most known and best symbol of love and bonding,'' said Judd Rottenberg, a principal of Long's Jewelers.
Prices are cyclical, controlled by De Beers and other entities that control the bulk of the market, diamond experts say.
De Beers said yesterday that it expects prices in the $57 billion market for diamond jewelry to rise as production falls short of demand, Bloomberg News reported.
``We do not believe there is a diamond shortage, only a diamond opportunity - one that will deliver sustainable price growth,'' De Beers spokeswoman Lynette Hori said in an e-mail.
The diamond seller has already raised prices three times this year while its mining companies speed the search for stones.
Diamond prices vary from less than $200 to more than $1,000 a carat, according to James Picton, a consultant of U.K. stockbroker W.H. Ireland Group Plc.
There could be a shortage in three to four years as diamond cutters deplete inventories, said Chaim Even-Zohar, an analyst at Tacy Ltd., a diamond industry consulting firm.
The rise in prices has squeezed retailers, who can't pass on all of the cost.
Sales at Tiffany & Co. were up 7 percent for the third quarter over last year, but net income fell 26 percent.
To boost supply, De Beers plans to spend $1.35 billion through 2010 on five diamond projects in Canada, Botswana and other countries. It is reviewing other projects that could cost $2.4 billion and produce as much as 139 million carats a year.
The demand will likely continue, local jewelers say, because even though the price goes up, the gem doesn't change.
``It doesn't weather like a home does, it doesn't get used up and it doesn't get worn out,'' Rottenberg pointed out.
Higher prices are pushing some shoppers to settle for lower-quality diamonds, but ``people are still buying,'' said Vladimir Arustamyan, of GVS Jewelers in Belmont.
You've got to get in line ...
I've been updating my outstanding bids since early October and have got none at $0.0001 yet.
There must be one heck of a wall sitting there at %0.0001
Dateline: The Waiting is the Hardest Part
by Mark Faulk
Call it the calm before the storm. It's been ten months since Dateline was reportedly first scheduled to air its expose' on what many experts say is "the biggest financial scandal in the history of the world". We first broke the story of the Dateline expose' in June, and have continued to update it ever since. After numerous postponements, many investors have become discouraged, especially after Dateline failed to air its story before the November 2nd election.
They won't have to wait for long. A month ago the Faulking Truth reported from a reliable source that the "Dateline broadcast was imminent", and would most likely be aired in 3 weeks. That "deadline" came and went, and still no Dateline. However, Dateline Producer Sharon Hoffman assured us late last week that "the story is definitely still ongoing", and that the Faulking Truth, and our readers, will "be among the first to know the air date". Hoffman also told us that while "we're still shooting interviews and aren't ready to air yet ..... I have received some new information that we are looking into." She also said to "please tell your readers that I have saved all their emails and will email them as well when i have an update".
We have also received information that Dateline recently interviewed representatives from the SEC, which will be included in the pending segment. We asked Hoffman for confirmation on this, but she declined to comment, saying that "I can't confirm who we have or haven't spoken to in the course of our reporting". Our sources have also told us that Dateline is considering setting up a website and possibly a chat room for feedback on the program.
Could this story have affected the outcome of the Presidential election if it had been aired before November 2? We'll never know, but in our opinion, this is NOT a political issue, it's a story of bureaucracy run amuck, and of one hand (the SEC) feeding the other (the NASD and the DTCC). Unfortunately, the "food" that they are stealing belongs to the American people, to small investors across America, and to the small honest companies that are struggling to succeed in an already difficult competitive corporate world.
The key word here is "honest". For every person who believes that they have been robbed blind by a massive organized "naked short selling" effort to defraud these small companies and their investors of their money....there are others who claim that it's the companies themselves that are ripping off investors in so called "pump and dump" schemes, where the company's stock price is inflated by hyping the company through fraudulent or misleading press releases, and then shares are dumped upon unsuspecting investors, who often end up losing their entire investment.
That is a debate that will only be answered by a full scale investigation. Here's my question to all those who claim that the "naked short selling" scandal doesn't exist: if you are so certain that you are right, then why do you oppose a full investigation into the issue? Whether the corruption exists on the short selling side or on the corporate side (and I suspect that there is fraud on both sides of the issue), Americans have a right to know. In our opinion, the Dateline segment is only the beginning, and it will take continual pressure from the media, investors, and ultimately, the governing bodies who are charged with protecting investors' interest before the issue is resolved.
On Business TalkRadio Network's "Corporate Strategies with Tim Connolly" last Sunday evening, Connolly spoke with retired FBI special agent Don Clark, who is now with the law firm of O'Quinn, Laminack & Pirtle, who are partnering with Christian, Smith, Wukoson and Jewell, and the law firm of Heard, Robins, Cloud, Lubel & Greenwood in dozens of lawsuits involving naked short selling. According to Clark, "The criminal investigative arena, the FBI and U.S. Attorneys' offices across the country are trying to look into these cases" and that "they already know that organized crime is involved in these kinds of cases".
In the meantime, what can we do to "move the process along"? Connolly closed his show by stating that "If enough people complain to the FBI - then at least we can get some access to the truth." He suggested that anyone who feels that they have been defrauded in the naked short selling scandal call the FBI to lodge a complaint. Clark said to "report this to the SEC and the FBI - with specifics, inundate them with complaints." A caller into the show (and several of our readers as well) said that the best way to get results would be to "get New York Attorney General Eliot Spitzer involved".
At the Faulking Truth, we believe that the correct answer is "all of the above". Inundate the FBI and the SEC with complaints, flood Spitzer's office with requests for an investigation, and contact your local FBI and your state Attorney General's office with your requests. Contact the media and ask them why they aren't covering this important story. Go to www.investigatethesec.com and sign the petition, even if you haven't been directly affected by the scandal. Post your opinions on the Dateline website after the show airs. Above all, contact your U.S. Senators and Congressmen and demand that they launch an investigation into the actions of the SEC, the NASD, and the DTCC. By destroying small businesses, their employees, and investors' wealth, this scandal touches every American. It adversely affects our economy and undermines the health of our stock market system.
This story is far from over....and it won't end until we demand that our elected officials, and the officials who are pledged to protect the American investor, have fully investigated this scandal and taken the steps to return integrity to the stock market. And in the next election....we will vote with our pocketbooks. Fix the markets, and regain our trust. Let the corruption continue unabated, and we'll "do the right thing", and vote those responsible out of office.
To listen to the "Corporate Strategies with Tim Connolly" interview with Don Clark (11/14/04), go to:
www.businesstalkradio.net/weekend_host/Archives/cs.shtml
To listen to the "Corporate Strategies with Tim Connolly" interview with Don Clark (11/14/04), go to:
www.businesstalkradio.net/weekend_host/Archives/cs.shtml
riverboat, did you read it all?
The elevator (up/down) is on the left hand side.
Dividend Search Results for CMKX
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الأخوه مسؤلي شركة الأوسط المحترمين
السلام عليكم ورحمة الله وبركاته
نرجوا سرعة ايضاح توزيعات الأسهم المنحه لملاك السهم cmkx من شركات
أخرى كما في الرابط المرفق . حيث بلغنا أحد موظفي شركة الأوسط
بأن لا توزيعات منحه إلا لنفس السهم وبعد سنه من الآن وبنسبة 9.5 سهم
لكل مليون سهم cmkx استنادا إلى ما اخبرهم به وسيطكم في السوق
الأمريكي . إذن لما لم يبلغ عملاؤكم بأهذا الأمر بشكل رساله رسميه تبين
أساس حقيقة التوزيع . خلافا لتصريحات مسؤلي شركة cmkx الرسميه
وتصريحات مسؤلي الشركات المانحه الأسهم وهي ucad gemm cim
وبإمكانكم الرجوع إليها كمستند للتوزيع . كذلك ما فعله وسطاء آخرون
داخل وخارج الكويت بأن نزلوا الأسهم المنح والمقيده بحسابات عملاؤهم
دون تأخير ؟ فما بالكم الصوره عندكم غير واضحه ولا تردون بشكل رسمي
ومقنع لعملاؤكم ؟ نرجو أن لا تطول فترة التجاهل هذه فليست لصالحكم
وتضر بمصلحة عملاؤكم إن كانت تهمكم المحافظه عليهم وعلى سمعتكم
كوسيط محلي . بإنتظار رد رسمي مقنع ومكتوب سواء برسائل مباشره
لعملاؤكم ملاك السهم كما في سجلاتكم أو بهذا الموقع ليطلع عليه الجميع
http://www.otcbb.com/asp/dividend.a...sDateType=ex_dt
والسلام عليكم ورحمة الله وبركاته
Are the Kuwatis getting in on CMKX too?
http://www.indexsignal.com/vb/showthread.php?p=106867#post106867
Diamond prices are forecast to rise
Bloomberg News Tuesday, November 16, 2004
http://www.iht.com/articles/2004/11/15/business/gem.html
Diamond prices are forecast to rise
Bloomberg News Tuesday, November 16, 2004
http://www.iht.com/articles/2004/11/15/business/gem.html
November 15, 2004. (FinancialWire) Thursday, at 1 p.m., the Securities Industry of America will conduct a symposium on Regulation SHO at Fordham University at Lincoln Center.
Entitled “Implementing the New Short Sale Rules,”
Moderators are Steven Kessler, Associate General Counsel for Goldman Sachs & Co. (NYSE: GS), and Deborah Mittelman, Deputy Director of Global Compliance for Reuters’ (NASDAQ: RTRSY) Instinet. Panelists include Jeffrey Bernstein, Senior Managing Director of Bear Stearns (NYSE: BSC), and Robert O’Connor, Executive Director of the Law Department for Morgan Stanley (NYSE: MWD).
The sold-out program is on the web at http://www.sia.com/sho/html/program.html
There is a live teleconference, but it costs $195 for members and $295 for non-members.
Dave Patch, editor of “Stockgate Today,” said that the SEC has made claims to members of Congress that mandatory close-out of threshold securities is intended to address the abusive backlog on settlement failures; however, “the SEC remarkably eliminated all references to timelines as it pertains to ‘mandatory’ when it released SHO.
“In the original proposal the SEC admitted to having 2 days listed as the timeline to mandatory close-out but the final draft had it removed presumably on behalf of DTCC requests. An NASD proposal which also defined a timeline for mandatory close-out was in like discarded by the SEC and has yet to see an open public comment regarding its merits.
“With members of the SEC on the panel to address the issues, those attending this symposium will have the opportunity to hear how the SEC explains ‘mandatory’ to the Industry and how the SEC and SRO’s will be enforcing that definition,” Patch concluded.
NBC’s “Dateline” recently confirmed to FinancialWire that it is preparing a comprehensive expose of the “naked short selling” controversy.
The reportage is said to focus on allegations that “brokers, through their wholly owned clearing house system, the Depository Trust Corporation (DTCC), have effectively been creating counterfeit shares of stock through their ‘Stock Borrow Program’, which allows brokers to ‘borrow’ the same shares over and over again, artificially inflating the share count and driving the price of the stock down.
Stockgate, a growing global malady, is being contested on multiple levels, including judicial, legislative and political.
Delegates to the September 20 annual SEC Forum on Small Business passed several resolutions on the issue to be submitted to the SEC. Among them were:
1. Extend Reg. SHO to apply to all publicly traded companies including non-reporting companies.
2. Recommend that the SEC Commissioners reinstate the proposed provision in Regulation SHO that prohibited a selling shareholder from withdrawing his/her profits from the trade until after delivery of the underlying sold shares.
3. SEC should require all SROs, and any clearinghouse for an SRO that receives securities into accounts for security holders to disclose the fact of the ability to loan the securities in the accounts and allow security holders to opt out of allowing the securities to be loaned.
Robert Shapiro, chair of Sonecon LLC, an economic advisory firm and former Under Secretary of Commerce from 1998 to 2001 and principal economic advisor to President William Clinton in his 1992 campaign, has expressed “serious concerns about the impact of the final version of Regulation SHO regarding short sales on the equity and transparency of our equity markets.”
Shapiro holds a Ph.D. from Harvard University and has been a Fellow of the National Bureau of Economic Research, the Brookings Institution, and Harvard University.
Shapiro said the SEC is correct to broaden the terms of regulation of short sales, and applauded the section directing broker dealers to mark all equity orders as “long,” “short” or “short exempt.” More important, he said, the new “locate and delivery” requirements could substantially reduce stock manipulation carried out through naked short sales -- but only if those requirements are widely applied and strictly enforced.
“Unfortunately, Regulation SHO does not meet either of these two standards. The troubling result is that the Regulation, in effect, establishes an official level of tolerance for unsettled or naked short sales,” Shapiro charged.
Shapiro said he strongly concurs with the comments of the North American Securities Administrators Association (NASAA) on the draft rule, which said NASAA was “unable to determine why the Commission proposes to permit significant settlement failures at all. While there are instances when settlement may be legitimately delayed, existing regulations provide for extensions for settlement. If the Commission continues to allow settlement failures, it may well facilitate the harm that the proposal is designed to remedy.”
“Until Regulation SHO, this economic counterfeiting has been facilitated by electronic record keeping and the apparent practice of the DTCC and its subsidiary National Securities Clearing Corporation (NSCC) of often disregarding persistent unsettled short positions. With Regulation SHO, the SEC has provided its implicit imprimatur for the same practice in cases covering the vast majority of public companies and billions of dollars.”
Shapiro urged the SEC to “reconsider the provisions of Regulations SHO and, at a minimum, apply the ‘locate and delivery’ requirements for threshold securities to all short sale transactions, and adopt a zero-tolerance policy for significant settlement failures. American investors should feel confident that the SEC will ensure the integrity of every equity transaction they undertake and fully protect their right to receive what they have paid for.”
While the battle is still waged in the U.S., some of the threats to small investors’ investments are being exacted overseas. Despite some 250 companies winning their exit pass, the FaulkingTruth.com website reported that dozens of companies are still being refused delistings from the Berlin-Bremin Exchange, including ImageWare Systems (AMEX: IW) and Action Products International (NASDAQ: APII). FinancialWire also reported that Sontra Medical Corp. (NASDAQ: SONT) is among those whose shares Berlin has resisted delisting.
In all, Faulk said Berliner Freiverkehr CEO Holger Timm reported he has been asked by 386 firms to cease their trading. He is said to have balked at the term delisting, noting that “Trading foreign shares on the third-tier market segment at the Berlin or any other German exchange is not being regarded as a 'listing', therefore it is incorrect to use the term 'delisting' if a company wants to cease trading."
FaulkingTruth said others refused delistings include Endevco Inc. (OTCBB: ENDE), Limelight Media Group (OTCBB: LMMG), IpVoice Communications (OTCBB: IPVO), now NewMarket Technology Inc, (OTCBB: NMKT), Force Protection (OTCBB: FRCP), Cyber Digital Inc. (OTCBB: CYBD), and XRAYMEDIA (OTCBB:XRYM). Others mentioned yesterday included Military Communications Technology (OTCBB: MLTA), Dalrada Financial Corp. (OTCBB: DRDF), and Mannatech Inc. (NASDAQ: MTEX).
Timm sent a letter to companies asking to be delisted, which promised if “after considering the above aspects, should you still prefer your stocks not to be traded in Germany we will respect your wish and apply for delisting on the Berlin stock exchange.”
However, for dozens of companies, that appears to have been an empty offer.
In a comment letter to the U.S. Securities and Exchange Commission, Larry Thompson, Managing Director and Senior Deputy General Counsel for the DTCC, said it is a violation of Section 17A of the Securities Act of 1934 to impose any process or restriction that would cause delays in the settlement process, said the online newsletter, published by http://www.investigatethesec.com.
“Although not the intent of the comment letter, Mr. Thomson has just become part of a growing number of people who contend that the most recent short selling reform package out of the SEC, Regulation SHO, may not be in compliance with federal law.
“The letter submitted to the SEC on August 16, 2004 was addressing the SEC’s proposal to restrict all transfer agents from clearing trades on those issuers who created a ‘Custody Only”’ restriction on the trading of their securities,” noted the newsletter.
“His legal points, presumably unintended, actually shot squarely across the bow of the SEC’s Regulation SHO,” said StockGate Today, pointing to http://www.sec.gov/rules/proposed/s72404/s72404-14.pdf
“Thompson concludes his opinion letter to the SEC by surmising that the SEC should proceed on with this proposal as written because issuers are not authorized to put restrictions on their stock. For transfer agents to clear these stocks would be aiding and abetting unlawful conduct. The point of law being the settlement requirements defined in Section 17A of the Securities Act of 1934.
“Thus, asked the newsletter, with Thompson “claiming that a delay in the settlement of trades is unlawful how can Regulation SHO be grounded by the presumption that trade settlements are not a mandatory part of the Markets?
“The SEC, in Regulation SHO claims that 4% of all publicly traded companies have levels of settlement failures that exceed an abusive threshold. They also admit that in some cases the failures exceed the entire public float of companies. These are market conditions not only create delays and inefficiencies but fraud and manipulation as well. The SEC’s final package never addressed forced settlements and forced timelines on the failures but instead simply threatened ‘future enforcement’ possibilities and placed “restrictions’ above abusive levels.
The final Regulation SHO rules are at http://www.sec.gov/rules/final/34-50103.htm. The trade reporting requirements are at http://www.nasdr.com/2610_2004.asp#04-54.
Recently it was reported that regulated companies, such as dealers, brokers, mutual fund companies, financing firms, and investment houses, have been told they have to submit revised operating manuals to incorporate changes in the Anti-Money-Laundering Act of 2001 by Oct. 29.
The key is a requirement that regulated firms “must know their customers” to prevent money-laundering practices. The firms have to have a procedure to get satisfactory proof of the customer's identity and ensure that effective procedures for verifying the identity of new customers are in place.
However, FinancialWire interviews with spokespersons at the SEC has determined that individuals may open nominee offshore firms without providing their identities to anyone, and by using a multiple number of such nominee firms can even gain complete control of a public company while never revealing their true identities.
The SEC told FinancialWire that it has no power to require identification of individuals behind such firms.
Columnist Jack Anderson has stated that millions if not billions of dollars are laundered through naked short selling schemes.
Twenty civil cases have now been filed by O'Quinn, Laminack & Pirtle, Christian Smith & Jewell, and Heard, Robins, Cloud, Lubel & Greenwood, LLP, all of Houston, Texas. The consortium of law firms, famed for the giant awards they obtained suing tobacco companies. The group recently brought suit against the Depository Trust and Clearing Corp. for allegedly participating in the short-selling conspiracy through its “stock borrow” program which the attorneys say is nothing more than an illegal electronic printing press for stock certificates.
Lead counsel John O'Quinn said: "We are committed to the relentless pursuit of justice.”
All this has led to some major changes on Wall Street, if not regulatory attentiveness.
Recently observers were surprised to find a comment letter submitted to the SEC by Mike Alexander, Senior VP of Charles Schwab, that admits outright that brokerages regularly ignore rules and regulations, saying it is not rules that need to be written; it is changes in behavior that is needed.
“Schwab opposes the notion that securities intermediaries such as broker-dealers be required to police compliance,” he stated. “The NYSE and other SROs have had trade affirmation rules on their books for some time. However, such rules have not been effective in changing the behavior of Buy-Side firms or their custodians; nor do the rules provide assurance that the affirmed trade will settle.
“Recognition of this fact is evidence that changes to the settlement cycle not only require overhauling systems, but also changing behavior. We believe that only by holding all market participants directly accountable for making required affirmations will the necessary changes to behavior,” he stated at http://www.sec.gov/rules/concept/s71304/charlesschwab061604.pdf .
“The SEC claims that the number of companies involved in this ‘threshold security’ category is 4% of all publicly traded companies. If in fact it is that small the process is certainly manageable,” said the website InvestigatetheSEC.com at http://www.investigatethesec.com . “It is also the right of every issuer, in protecting their business and their investors to know the status of their stock trading.”
Some were discussing whether the SEC can keep such information private under the Freedom of Information Act.
The marketplace is already upset over promises by the Berlin Stock Exchange, since broken, that it would delist any company upon request.
“Please understand that cessation of trading in the shares of XRAYMEDIA Inc. (OTCBB: XRYM) is not possible,” the exchange told one such requester.
It’s not just U.S. companies such as Whistler Investments (OTCBB: WHIS), Sonoran Energy (OTCBB: SNRN), Celsion Corporation (AMEX: CLN), and eLinear Inc. (AMEX: ELU) or Israeli companies that have had serious concerns about their unannounced and unathrorized listings on the Berlin-Bremen Stock Exchange.
According to court filings supported by the O’Quinn/Christian legal network, almost $1 billion annually is received by the Depository Trust and Clearing Corp. for its “Stock Borrow Program,” which the lawsuits claim is just a fancy name for counterfeiting, as the DTCC purportedly lends out many multiples of the actual certificates in the float. Apparently the SEC receives a transaction fee for each transaction facilitated by these loans of non-existent certificates, which could knock a hole in its budget should the revenues from the practice be halted.
The North American Securities Administrators Association, comprised of state and Canadian regulators, has pointedly told the SEC that either it must rethink its cozy DTCC relationship, or it hints, some of its more aggressive state practitioners (think Eliot Spitzer) may do the rethinking for the SEC.
Naked short selling is worrisome for hundreds of small U.S. companies, including those recently asking to be delisted from the Berlin Stock Exchange, such as Golden Phoenix Minerals, Inc. (OTCBB: GPXM), Nannaco, Inc. (OTCBB: NNCO), 5G Wireless Communications, Inc. (OTCBB: FGWC), CyberAds, Inc. (OTCBB :CYAD), Provectus Pharmaceuticals, Inc. (OTCBB: PVCT), House of Brussels Chocolates (OTCBB: HBSL), InforMedix, Inc. (OTCBB: IFMX), Tissera, Inc. (OTCBB: TSSR), Americana Publishing, Inc. (OTCBB: APBH), Celsion Corporation (AMEX: CLN), ChampionLyte Holdings, Inc. (OTCBB: CPLY), Pickups Plus, Inc. (OTCBB:PUPS), China Wireless Communications Inc. (OTC BB: CWLC), CareDecision Corp. (OTCBB: CDED), Titan General Holdings, Inc. (OTCBB: TTGH), IPVoice Communications, Inc. (OTCBB: IPVO), Whistler Investments (OTCBB: WHIS), WARP Technology Holdings, Inc. (OTCBB: WRPT), BGR Corp. (OTCBB: BGRR), ICOA, Inc., (OTCBB: ICOA), DICUT, INC. (OTCBB: DCUTE), NHC Communications Inc. (TSX: NHC; OTCBB: NHCMF), Stratus Services Group, Inc. (OTCBB: SERV), Golden Phoenix Minerals, Inc. (OTCBB: GPXM).
Small public companies are squeezed not only by hedge funds, naked short sellers, overseas listers such as the Berlin Stock Exchange, and the out-of-control “Stock Borrow Program” run by the governance-conflict-laden Depository Trust and Clearing Corporation, but to the amazement of the industry, as often and not by their own regulators.
A new staff recommendation by Annette Nazareth, director of the division of market regulation at the U.S. Securities and Exchange Commission to “outlaw” ownership of paper certificates at the same time the Depository Trust and Clearing Corporation is under intense scrutiny for alleged electronic counterfeiting has begun hitting the small public company markets, company executives, shareholders and manipulative short-selling opponents like the proverbial ton of bricks.
A Dow Jones (NYSE: DJ) article by Judith Burns sparked the uproar, as the inextricably intertwined web of connections between the SEC and the DTC, which is sagging from the weight of conflicted governance by representatives from a rollcall of industry heavyweights, including NASD, which owns NASDAQ (OTCBB: NDAQ), the New York Stock Exchange, Goldman Sachs (NYSE: GS) and Lehman Brothers (NYSE: LEH), to name only a few.
The Dow Jones report noted that “naked short-selling occurs when sellers don't buy shares to replace those they borrowed, a manipulative practice that can drive a company's stock price sharply lower.
The recent lawsuit filed by Nanopierce Technologies (OTCBB: NPCT) alleges that the Depository Trust and Clearing Corp. has a lot of reasons, almost one billion of them a year, to keep illegal naked short selling in operation. It was the shot across the bow by the legendary Houston law firms of Christian, Smith, Wukoson and Jewell, and OQuinn, Laminack and Pirtle, whose notches already include environmental targets, the breast implant industry and the tobacco industry, all brought to their knees.
In comments to the U.S. Securities and Exchange Commission, C. Austin Burrell, who is providing litigation support and research for the law firms, said that StockGate is more massive than anyone may have imagined. “Illegal Naked Short Selling has stripped hundreds of billions, if not TRILLIONS, of dollars from American investors,” and have resulted in over 7,000 public companies having been “shorted out of existence over the past six years.” Burrell said some experts believe as much as $1 trillion to $3 trillion has been lost to this practice.
He stated that the restrictions on short selling were deliberately put into the Securities Acts of 1933 and 1934 because of the first-hand evidence then available that the “sheer scale of the crashes was a direct result of intentional manipulation of US markets through abusive short selling by a massive conspiracy.”
Burrell noted that the 65-lawyer team presided over by lead lawyers Wes Christian and John O’Quinn has uncovered more than 1,200 hedge fund and offshore accounts working through more than 150 broker-dealers and market makers in a joint cooperative effort to strip small and medium size public companies of their value.
According to lawyer Christian, et.al., the DTC is at the very heart of the problem, and has almost a billion dollars a year at stake in keeping the problem.
The Depository Trust Company (DTC) is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the SEC. The depository supposedly brings efficiency to the securities industry by retaining custody of some 2 million securities issues, effectively "dematerializing" most of them so that they exist only as electronic files rather than as countless pieces of paper. The depository also provides the services necessary for the maintenance of the securities it has in “custody.”
According to the suit, the DTCC has an enormous pecuniary and conflicted interest in the entire short selling scandal through the huge income stream they were realizing from it every day. They have made literally billions of dollars lending individual real shares, in most cases over and over, getting a fee each time they made a journal entry in the “Stock Borrow Program.”
The Stock Borrow Program was purportedly set up to facilitate expedited clearance of stock trades. Somewhere along the line, the DTCC became aware that if it could lend a single share an unlimited number of times, it could collect a fee each time, according to Burrell.
“There are numerous cases of a single share being lent ten or many more times,” giving rise to the complaint that the DTCC has been electronically counterfeiting just as was done via printed certificates before the Crash.
“Such re-hypothecation has in effect made the potential ‘float’ in a single company's shares virtually unlimited and the term ‘float’ meaningless. Shares could be electronically created/counterfeited/kited without a registration statement being filed, and without the underlying company having any knowledge such shares are being sold or even in existence.” Burrell said the Christian/O’Quinn lawsuits will seek to show that the “counterfeiting/creation of unregistered shares is a specific violation of the Securities Act of 1933, barring the ‘Sale of Unregistered Securities’.”
One lawsuit alleges that the DTC has a colossal disincentive to stop the “stock borrow” program, booking revenues from services of $425,416,000 and similarly, the NSCC deriving revenues of $293,133,000.
Further, the suit alleges that “open positions” resulting from this activity at the close of business on December 31, 2003, “approximated $3,025,467,000” due to NSCC, and $2,303,717,000 due by NSCC, and unsettled positions of $721,750,000 for securities borrowed through the NSCC’s “Stock Borrow Program.”
Nanopierce claims that DTCC and NSCC have joined in a “scheme” to “manipulate downward the price of the affected securities, thereby reducing the market value of the open fail to deliver positions.” The suit also claims that the s have permitted sellers to maintain open fail to deliver positions of tens of millions of shares for periods of a year and even longer.
It quotes the National Association of Security Dealers as admitting that “concerns have been raised by members, issuers, investors and other interested parties about potentially abusive short selling activities occurring in the marketplace. In particular, naked short selling, or selling short without borrowing securities to make delivery, can result in long term failures to deliver, including aggregate failures to deliver that exceed the total float of a security. NASD believes such extended failures to deliver can have a negative effect on the market. Among other things, by not having to deliver securities, naked short sellers can take on larger short positions than would otherwise be permissible, which can facilitate manipulative activity.”
The largely unregulated DTC has become something of a defacto Czar presiding over the entire U.S. markets system, wielding more day-to-day influence and control than the SEC, the NASD and NASDAQ combined.
The Depository Trust and Clearing Corp.’s two preferred shareholders are the New York Stock Exchange and the NASD, a regulatory agency that also owns the NASDAQ (OTCBB: NDAQ) and the embattled American Stock Exchange! Regulators, regulate thyself?
In an era when corporate governance is the primary interest for the SEC and state regulators, the DTCC is hardly a role model. Its 21 directors represent a virtual litany of conflict:
They include Bradley Abelow, Managing Director, Goldman Sachs (NYSE: GS); Jonathan E. Beyman, Chief Information Officer, Lehman Brothers (NYSE: LEH); Frank J. Bisignano, Chief Administrative Officer and Senior Executive Vice President, Citigroup / Solomon Smith Barney's Corporate Investment Bank (NYSE: C); Michael C. Bodson, Managing Director, Morgan Stanley (NYSE: MWD); Gary Bullock, Global Head of Logistics, Infrastructure, UBS Investment Bank (NYSE: UBS); Stephen P. Casper, Managing Director and Chief Operating Officer, Fischer Francis Trees & Watts, Inc.; Jill M. Considine,Chairman, President & Chief Executive Officer, The Depository Trust & Clearing Corporation (DTCC);
Also, Paul F. Costello, President, Business Services Group, Wachovia Securities (NYSE: WB); John W. Cummings, Senior Vice President & Head of Global Technology & Services, Merrill Lynch & Co. (NYSE: MER); Donald F. Donahue, Chief Operating Officer, The Depository Trust & Clearing Corporation (DTCC); Norman Eaker, General Partner, Edward Jones; George Hrabovsky, President, Alliance Global Investors Service; Catherine R. Kinney, President and Co-Chief Operating Officer, New York Stock Exchange; Thomas J. McCrossan, Executive Vice President, State Street Corporation (NYSE: STT); Eileen K. Murray, Managing Director, Credit Suisse First Boston (NYSE: CSR); James P. Palermo, Vice Chairman, Mellon Financial Corporation (NYSE: MEL); Thomas J. Perna, Senior Executive Vice President, Financial Companies Services Sector of The Bank of New York (NYSE: BNY); Ronald Purpora, Chief Executive Officer, Garban LLC; Douglas Shulman, President, Regulatory Services and Operations, NASD; and Thompson M. Swayne, Executive Vice President, JPMorgan Chase (NYSE: JPM).
In their comments to the SEC regarding Regulation SHO in January, the 50 state regulators, through their association, the North American Association of Securities Administrators (NASAA) issued what many consider to be a strong warning that if the DTC is not dealt with in the final regulations, state regulators such as New York State Attorney General Eliot Spitzer may step to the plate.
In what many considered to have been explosive comments, Ralph Lambiase, NASAA president and Director of the Connecticut Division of Securities, warned "NASAA urges the Commission to reconsider its stance regarding the role of the Depository Trust and Clearing Corporation (the DTC). As a threshold matter, NASAA believes that the Commission should explicitly prohibit the DTC from lending more shares of a security than it actually holds. The ability of the overall proposed rule would be severely impared unless the Commission undertakes to implement such a prohibition.”
Recently, leading market makers and brokers named in various lawsuits and other actions, including FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (NYSE: GS), H. Myerson & Co., Inc. (NASDAQ: MHMY), Olde / H&R Block (NYSE: HRB), Charles Schwab (NYSE: SCH), Toronto-Dominion’s (NYSE: TD), TD Waterhouse Group, Bank of America's (NYSE: BAC) Banc of America Securities LLC, Societe Generale's (OTC: SCGLF) SG Cowen Securities Corp. vFinance, Inc. (OTCBB: VFIN), Knight Trading Group, Inc. (NASDAQ: NITE), A.G. Edwards, Inc. (NYSE: AGE), Ameritrade Holding Corp. (NASDAQ: AMTD), Deutsche Bank AG (NYSE: DB), and ETrade Group, Inc. (NYSE: ET), were forced to comply with new short-selling market regulations imposed by the NASD after the SEC had “sat on” the NASD request to plug material loopholes for almost 2-1/2 years.
“The new rules expand the scope of the affirmative determination requirements to include orders received from broker/dealers that are not members of NASD ("non-member broker/dealers").
The new rule is on the web at http://www.nasdr.com/2610_2004.asp#04-03
Some 122 companies, including 13 brokers, such as FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (NYSE: GS), H. Myerson & Co., Inc. (NASDAQ: MHMY), Olde / H&R Block (NYSE: HRB), Charles Schwab (NYSE: SCH), Toronto-Dominion’s (NYSE: TD), TD Waterhouse Group and vFinance, Inc. (OTCBB: VFIN). A.G. Edwards, Inc. (NYSE: AGE), Ameritrade Holding Corp. (NASDAQ: AMTD), Deutsche Bank AG (NYSE: DB), Knight (NASDAQ: NITE) and ETrade Group, Inc. (NYSE: ET), have been embroiled for over a year in a raging controversy
The remaining 109 companies among the 122 named to date have issued press releases or been named in the media as having been victimized, or as taking various actions, either alone or in concert with other companies, to oppose manipulative trading in the form of illegal naked short selling. The actions have ranged from lawsuits to withdrawals and threatened withdrawals from the electronic trading system managed by the Depository Trust & Clearing Corp., to withdrawals from toxic financings, to the issuance of dividends or name changes designed to squeeze manipulators, to joining associations or networks or to contacting regulatory authorities to provide documentation of abuses or otherwise complain.
The complete list of those 108 companies include Advanced Viral Research Corp. (OTCBB: ADVR), AdZone Research, Inc. (OTCBB: ADZR), Amazon Natural Treasures (OTC: ANTD), America's Senior Financial Services (OTCBB: AMSE), American Ammunition, Inc. (OTCBB: AAMI), AngelCiti Entertainment (OTCBB: AGLC), ATSI Communications, Inc. (OTC: ATSC), Federal Agricultural Mortgage / Farmer Mac (NYSE: AGM) Allied Capital (NYSE: ALD), American Motorcycle (OTC: AMCYV), American International Industries (OTCBB: AMIN), Ameri-Dream (OTC: AMDR), Adirondack Pure Springs Mt. Water Co. (OTCBB: APSW), ATSI Communications,Inc. (OTC: ATSC) Bluebook International (OTCBB: BBIC), Blue Industries (OTCBB: BLIIV), Bentley Communications (OTCBB: BTLY), BIFS Technologies Corporation (OTCBB: BIFT), Biocurex (OTCBB: BOCX). Broadleaf Capital Partners, Inc. (OTCBB: BDLF), Chattem, Inc. (NASDAQ: CHTT), Critical Home Care (OTCBB: CCLH), Composite Holdings (OTC: COHIA), CyberDigital, Inc. (OTCBB: CYBD). Diamond International Group (OTCBB: DMND), Dobson Communications Corp. (NASDAQ: DCEL), Eagle Tech Communications (OTC: EATC), Edgetech Services (OTCBB: EDGH);
Also, Endovasc Ltd. (OTCBB: EVSC), Enviro-Energy Corporation (OTCBB: ENGY), Environmental Products & Technologies (OTC: EPTC), Environmental Solutions Worldwide, Inc. (OTCBB: ESWW), EPIXTAR Corp. (OTCBB: EPXR), eResearchTechnologies, Inc. (NASDAQ: ERES), Flight Safety Technologies (OTCBB: FLST), Freddie Mac (NYSE: FRE), FreeStar Technologies (OTCBB: FSRCE), Front Porch Digital, Inc. (OTCBB: FPDI), Geotec Thermal Generators, Inc. (OTCBB: GETC), Genesis Intermedia (OTC: GENI), GeneMax Corp. (OTCBB: GMXX), Global Explorations Inc (OTC: GXXL), Global Path (OTCBB: GBPI), GloTech Industries, Inc. (OTCBB: GTHI), Green Dolphin Systems (OTCBB: GLDS), Group Management (OTCBB: GPMT), Hop-On (OTC: HPON), H-Quotient, Inc., (OTCBB: HQNT), Hyperdynamics Corp. (OTCBB: HYPD), International Biochem (OTCBB: IBCL), Intergold Corp. (OTCBB: IGCO), International Broadcasting Corporation (OTCBB: IBCS), InternetStudios, Inc. (OTCBB: ISTO), ITIS Holdings (OTCBB: ITHH), Investco Corp. (OTCBB: IVCO), Lair Holdings (OTC: LAIR), Lifeline BioTechnologies Inc. (OTC: LBTT), Life Energy & Technology (OTCBB: LETH), MBIA (NYSE: MBI);
Also, MegaMania Interactive (OTC: MNIA), MetaSource Group, Inc. (OTCBB: MTSR),Midastrade.com (OTC: MIDS), Make Your Move (OTCBB: MKMV), Medinah Minerals (OTC: MDMN), MSM Jewelry Corp. (OTC: MSMC), Nanopierce Technologies, Inc. (OTCBB: NPCT), Nutra Pharmaceutical (OTCBB: NPHC), Nutek (OTCBB: NUTK), Navigator Ventures (OTC: NVGV), Orbit E-Commerce, Inc. (OTCBB: OECI), Pitts & Spitts (OTC: PSPP), Sales OnLine Direct (OTCBB: PAID), Pacel Corp. (OTCBB: PACC), PayStar Corporation (OTC: PYST),Petrogen Corp. (OTCBB: PTGC), Pinnacle Business Management (OTC: PCBM), Premier Development & Investment, Inc. (OTCBB: PDVN), PrimeHoldings.com, Inc. (OTC: PRIM), Phlo Corporation (OTCBB: PHLC), Resourcing Solutions (OTC: RESG), Reed Holdings (OTC: RDHC), Rocky Mountain Energy Corp. (OTCBB: RMECE), RTIN Holdings (OTCBB: RTNHE), Saflink Corp. (NASDAQ: SFLK), Safe Travel Care (OTCBB: SFTVV), Sedona Corp. (OTCBB: SDNA);
Also, Sionix Corp. (OTCBB: SINX), Sonoran Energy (OTCBB: SNRN), Starmax Technologies (OTC: SMXIF), Storage Suites America (OTC: SSUA), Suncomm Technologies (OTC: STEH), Sports Resorts International (NASDAQ: SPRI), Technology Logistics (OTC: TLOS), Swiss Medica, Inc. (OTCBB: SWME), Ten Stix, Inc. (OTCBB: TNTI), Tidelands Oil (OTCBB: TIDE), Titan Construction (OTC: TTCS), Trezac Corp. (OTCBB: TRZAV), Universal Express, Inc. (OTCBB: USXP), Valesc Holdings, Inc. (OTCBB: VLSHV), Vega Atlantic (OTCBB: VGAC), Viragen (AMEX: VRA), Viragen International (OTCBB: VGNI), Vista Continental Corporation, (OTCBB: VICC), Viva International (OTCBB: VIVI), Vtex Energy (OTCBB: VXENE) and Wizzard Software (OTCBB: WIZD), WorldTradeShow.com (OTC: WTSW) and Y3K Secure Enterprise Software, Inc. (OTCBB: YTHK).
Earlier in 2003, the SEC fined Rhino Advisors, Inc., $1 million for its representation of Amro International in the financing and manipulation of Sedona Corp. Amro, also known as AMRO, was registered in Panama, a secretive offshore haven, but was not named in the SEC settlement. Another 60 public companies may have been manipulated by the fined Rhino Advisors and its indicted principals, or its funding apparatus, Amro.
These include:
All American Food Group Inc (OTC: AAFGQ), Amanda Co Inc (OTC: AMNA), Antra Holdings (OTC: RECD), Aquis Communications Group Inc (OTCBB: AQUIS), Avanir Pharmaceuticals (AMEX: AVN), Bionutrics Inc (OTC: BNRX), Brilliant Digital Entertainment Inc (AMEX: BDE), Bravo! Foods International Corp. (OTCBB: BRVOE), Butler National Corp (NASDAQ: BUTL),Calypte Biomedical Corp (OTCBB: CYPT), Chemtrak Inc/DE (OTC: CMTR), Clicknsettle Com Inc (OTCBB: CLIK), Corporate Vision Inc (OTC: CVIA), Crown Laboratories Inc/DE (OTC: CLWB), Dental Medical Diagnostic Systems Inc (OTC: DMDS), Detour Media Group Inc (OTC: DTRM),
Also, Digital Privacy Inc/DE (OTC: DGPV), Senior Services Inc (OTC: DISS), International Inc (OTC: DYNX), Endovasc Ltd Inc (OTCBB: EVSC), Esynch Corp/CA (OTCBB: ESYN), Focus Enhancements Inc (NASDAQ: FSCE), Frederick Brewing Co (OTC: FRBW), Greystone Digital Technology Inc (OTC: GSTN), Havana Republic Inc/FL (OTCBB: HVNR), Henley Healthcare Inc (OTC: HENL), Hollywood Media Corp (NASDAQ: HOLL), Ibiz Technology Corp (OTCBB: IBZT), Diagnostic Systems Inc/FL (OTCBB: IMDS), Imaging Technologies (OTCBB: IMTO), Integrated Surgical Systems Inc (OTCBB: RDOC),
Also, Interferon Sciences Inc (OTC: IFSC), Interiors Inc (OTC: ITRNA), Laminaire Corp (OTC: THMZ), Medisys Technologies Inc (OTC: SCEP), Milestone Scientific Inc/NJ (AMEX: MS), Nevada Manhattan Group Inc (OTC: NVMH), Innovations Inc (OTCBB: NTGE),Systems Group (OTC: OSYM), Pacific Systems Control Technology Inc (OTCBB: PFSY), Professional Transportation Group Ltd Inc (OTC: TRUC), Rnethealth Inc (OTC: RNTT),
Also, Sand Technology Inc (NASDAQ: SNDT), Sedona Corp (OTCBB: SDNA), Silverado Foods Inc (OTC: SVFO), Stockgroup Information Systems (OTCBB: SWEB) Surgilight Inc (OTC: SRGL), Tasty Fries Inc (OTCBB: TFRY), Tech Laboratories Inc (OTCBB: TCHL), Teltran International Group Ltd (OTC: TLTG), Titan Motorcycle Co of America Inc (OTC: TMOTQ), Trans Energy Inc (OTCBB: TSRG), Motorcycle Co (OTC: UMCC), Universal Communication Systems Inc (OTCBB: UCSY), Medical Systems Inc (OTC: UMSI), Vianet Technologies Inc (OTC: VNTK),Viragen Inc (AMEX: VRA), Webcatalyst Inc (OTC: WBCL), Worldwide Wireless Networks Inc (OTCBB: WWWNQ), and ZAP (OTCBB: ZAPZ).
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Veteran FBI Special Agent Don Clark to Appear on 'Corporate Strategies with Tim Connolly' November 14th at 9:00 pm EDT
HOUSTON, Nov. 12, 2004 (PRIMEZONE) -- Don Clark, Veteran FBI Special Agent in Charge of the Houston Division will appear on "Corporate Strategies with Tim Connolly" this Sunday night, November 14th at 9:00 pm EDT. Following his retirement, Mr. Clark ADVERTISEMENT
(NYSE: CLK - news) joined the Law Firm of O'Quinn, Laminack & Pirtle, an internationally known law firm pursuing "naked short sellers" and their detrimental effects on shareholders. Don also serves as an on air analyst and law enforcement consultant to KPRC Channel 2-Houston, an NBC television Affiliate. He will update listeners on the short selling lawsuits that are currently being pursued in the Houston area. Listeners may call in questions live and toll free to Don and Tim Connolly at 1-866-606-TALK (8255). Recent guests have included Celgene (NASDAQ: CELG - news) 's CEO John Jackson, Landry's CEO Tilman Fertitta, Tobin Smith, John Murphy, Mario Gabelli, former SEC Chairman Arthur Levitt, former Compaq CEO Eckard Pfeiffer, Money Manager Louis Navellier, and many others. The Business TalkRadio Network Show may be heard on KSEV AM 700 in Houston, on over 375 affiliate stations nationwide listed at CRN1 www.cableradionetwork.com, or on the Internet at www.businesstalkradio.net. This hour of "Corporate Strategies with Tim Connolly" is hosted by Tim Connolly of Corporate Strategies Merchant Bankers (www.corporate-strategies.net). Noted Economist Mike King of Princeton Research provides live technical analysis for the show.
About Don Clark -- Special Agent Clark supervised numerous high profile FBI investigations including the 1979 Iranian Hostage Crisis where he handled the movement of the Shah or Iran from New York City to San Antonio, TX. He has supervised the investigations of the terrorist attack aboard the Achille Lauro cruise ship, which claimed the life of passenger Leon Klinghoffer, and he managed the investigation of the 1993 bombing of the World Trade Center in New York City. He also coordinated and managed the investigation and prosecution of the dragging death of James Byrd, Jr. in Jasper, Texas and he was in charge of the investigation and coordination to locate FBI's top fugitive and accused "Railcar Killer" Rafael Resendes Ramirez. Special Agent Clark has served the FBI in Miami, New York, Washington D.C., Los Angeles, Newark, San Antonio and his latest assignment before retirement Houston. Special Agent Clark is in the Who's Who in American's Colleges and Universities, Distinguished Military Graduate, receiving a regular Army commission, and many awards and recognitions from both the U.S. Army and the FBI. The most notable are U.S. Army Air Medial for Combat Assaults and two Bronze Stars for Bravery while serving in Vietnam. He received the FBI Medial for Meritorious Achievement during law enforcement action and in July 2000, he also received the U.S. Attorney Generals highest Award for Excellence for his efforts in the investigation and prosecution of the James Byrd, Jr. Hate Crime Murder in Jasper, Texas.
About Corporate Strategies, Inc. -- Corporate Strategies, Inc. (www.corporate-strategies.net) is a Merchant Bank in the traditional European sense of the word. As the term has evolved from the 18th Century to today, Merchant Banking describes an enterprise that not only finances a company's product or service, but also assists in developing a comprehensive business strategy. Corporate Strategies is comprised of seasoned executives with extensive experience in merchant banking, including business development and strategy, public and private company corporate finance, capital markets research, human resources, due diligence and transaction negotiation and execution.
"Corporate Strategies with Tim Connolly" is live talk radio...with the Titans of Business who move financial markets! The show is hosted by Tim Connolly, CEO of Merchant Banker Corporate Strategies, Inc. The Executive Producer of the show is broadcast news veteran Jan Carson, an award winning journalist with more than 20 years experience as a top rated television news anchor and reporter for NBC, ABC and CBS (Brussels: WXts.BR - news) network affiliates. "Corporate Strategies with Tim Connolly" features financial experts from across the nation providing the latest intelligence on equities, income investments, and a variety of risk, equity and option strategies.
Friday November 12, 08:14 PM
Veteran FBI Special Agent Don Clark to Appear on 'Corporate Strategies with Tim Connolly' November 14th at 9:00 pm EDT
HOUSTON, Nov. 12, 2004 (PRIMEZONE) -- Don Clark, Veteran FBI Special Agent in Charge of the Houston Division will appear on "Corporate Strategies with Tim Connolly" this Sunday night, November 14th at 9:00 pm EDT. Following his retirement, Mr. Clark ADVERTISEMENT
(NYSE: CLK - news) joined the Law Firm of O'Quinn, Laminack & Pirtle, an internationally known law firm pursuing "naked short sellers" and their detrimental effects on shareholders. Don also serves as an on air analyst and law enforcement consultant to KPRC Channel 2-Houston, an NBC television Affiliate. He will update listeners on the short selling lawsuits that are currently being pursued in the Houston area. Listeners may call in questions live and toll free to Don and Tim Connolly at 1-866-606-TALK (8255). Recent guests have included Celgene (NASDAQ: CELG - news) 's CEO John Jackson, Landry's CEO Tilman Fertitta, Tobin Smith, John Murphy, Mario Gabelli, former SEC Chairman Arthur Levitt, former Compaq CEO Eckard Pfeiffer, Money Manager Louis Navellier, and many others. The Business TalkRadio Network Show may be heard on KSEV AM 700 in Houston, on over 375 affiliate stations nationwide listed at CRN1 www.cableradionetwork.com, or on the Internet at www.businesstalkradio.net. This hour of "Corporate Strategies with Tim Connolly" is hosted by Tim Connolly of Corporate Strategies Merchant Bankers (www.corporate-strategies.net). Noted Economist Mike King of Princeton Research provides live technical analysis for the show.
About Don Clark -- Special Agent Clark supervised numerous high profile FBI investigations including the 1979 Iranian Hostage Crisis where he handled the movement of the Shah or Iran from New York City to San Antonio, TX. He has supervised the investigations of the terrorist attack aboard the Achille Lauro cruise ship, which claimed the life of passenger Leon Klinghoffer, and he managed the investigation of the 1993 bombing of the World Trade Center in New York City. He also coordinated and managed the investigation and prosecution of the dragging death of James Byrd, Jr. in Jasper, Texas and he was in charge of the investigation and coordination to locate FBI's top fugitive and accused "Railcar Killer" Rafael Resendes Ramirez. Special Agent Clark has served the FBI in Miami, New York, Washington D.C., Los Angeles, Newark, San Antonio and his latest assignment before retirement Houston. Special Agent Clark is in the Who's Who in American's Colleges and Universities, Distinguished Military Graduate, receiving a regular Army commission, and many awards and recognitions from both the U.S. Army and the FBI. The most notable are U.S. Army Air Medial for Combat Assaults and two Bronze Stars for Bravery while serving in Vietnam. He received the FBI Medial for Meritorious Achievement during law enforcement action and in July 2000, he also received the U.S. Attorney Generals highest Award for Excellence for his efforts in the investigation and prosecution of the James Byrd, Jr. Hate Crime Murder in Jasper, Texas.
About Corporate Strategies, Inc. -- Corporate Strategies, Inc. (www.corporate-strategies.net) is a Merchant Bank in the traditional European sense of the word. As the term has evolved from the 18th Century to today, Merchant Banking describes an enterprise that not only finances a company's product or service, but also assists in developing a comprehensive business strategy. Corporate Strategies is comprised of seasoned executives with extensive experience in merchant banking, including business development and strategy, public and private company corporate finance, capital markets research, human resources, due diligence and transaction negotiation and execution.
"Corporate Strategies with Tim Connolly" is live talk radio...with the Titans of Business who move financial markets! The show is hosted by Tim Connolly, CEO of Merchant Banker Corporate Strategies, Inc. The Executive Producer of the show is broadcast news veteran Jan Carson, an award winning journalist with more than 20 years experience as a top rated television news anchor and reporter for NBC, ABC and CBS (Brussels: WXts.BR - news) network affiliates. "Corporate Strategies with Tim Connolly" features financial experts from across the nation providing the latest intelligence on equities, income investments, and a variety of risk, equity and option strategies.
Under the circumstances that's not too difficult to understand ...
" Everything will be released when the time is right, and not before. .."
STOCKGATE TODAY-November 12, 2004
An online newspaper reporting the issues of Securities Fraud
SIA holds symposium on Regulation SHO – November 12, 2004
Dave Patch
On November 18, 2004 the Securities Industry Association (SIA) will be conducting a symposium on the SEC’s newly drafted short-selling regulation SHO. The Symposium will be held at Fordham University in New York.
The symposium has been broken into two segments; Key Regulatory Requirements Moderated by Steve Kessler of VP and General Council for Goldman Sachs and Implementation and Business Impacts Moderated by Deborah Mittelman President and Deputy Director of Global Securities Instinet. Panelists in each segment will include members of Regulatory, Wall Street, and Legal Firms.
For many months investors and issuers abused by naked shorting have been informed by the SEC that Regulation SHO will address the naked shorting issues of the Industry. This symposium, available to the open public through a live teleconference, will provide all with the opportunity to listen in directly on the SEC’s interpretation of their reform and to insure the SEC plans on getting strict with regards to settlement failures. This will also be our opportunity to see exactly how SHO is being presented to the Industry by the regulators. Specifically:
One item on the agenda is a discussion on the mandatory close-out on threshold securities.
The SEC has made claims to members of Congress that mandatory close-out of threshold securities is intended to address the abusive backlog on settlement failures. The SEC remarkably eliminated all references to timelines as it pertains to “mandatory” when they released SHO. In the original proposal the SEC admitted to having 2 days listed as the timeline to mandatory close-out but the final draft had it removed presumably on behalf of DTCC requests. An NASD proposal which also defined a timeline for mandatory close-out was in like discarded by the SEC and has yet to see an open public comment regarding its merits.
With members of the SEC on the panel to address the issues, those attending this symposium will have the opportunity to hear how the SEC explains “mandatory” to the Industry and how the SEC and SRO’s will be enforcing that definition. We should all be listening closely to the answers.
Many disbelievers of the SEC’s efforts, for which I am one, expect a very vague and subjective response to “mandatory” within the defined guidelines of the SEC. One member of the panel has recently taken several Congressional requests for answers regarding naked shorting abuses and turned the settlement failures back on the issuer blaming the company for the Industries problems. Where the SEC admits the existence of abused companies this SEC official felt compelled to ignore the issue of settlement failures, as presented by factual evidence, and instead blamed the company with misleading and factually wrong assumptions. Now the opportunity to hear how the SEC addresses the Industry members on behalf of naked shorting with become telling of the true SEC intentions.
To those who have suffered by the fraud dubbed STOCKGATE your opportunity to hear the behind the scenes reality of our defined savior, Regulation SHO, comes through a registration into this symposium. I urge Investors and Issuers alike to follow this link and sign up today. The attendance alone will be message enough that we are out there watching and watching closely. The cost for non-members is $295.00 to help finance the operations of those who have ignored us in the past.
Link: http://www.sia.com/sho/html/registration.html
Chairman Donaldson, Commissioners, and those SEC disbelievers within the agency, we will be out there listening to how you handle our problems as small retail investors.
For more on this issue please visit the Host site at www.investigatethesec.com .
Copyright 2004
that's better ... moving again
Stuck at 74,750,493 ?
Re: CMKX at .0001 ....this seems all too familiar
My two buy orders dating back to early October are still unfilled. eom
Yo-Yo LOL
Recent Trades - Last 10
Time Ex Price Change Volume
09:42:52 Q 2.00 -3.65 840
09:39:41 Q 2.50 -3.15 1,000
09:39:02 Q 2.00 -3.65 100
09:39:01 Q 2.00 -3.65 1,500
09:37:54 Q 3.50 -2.15 102
09:37:39 Q 3.25 -2.40 1,500
09:35:35 Q 2.00 -3.65 500
09:35:23 Q 3.50 -2.15 772
09:35:14 Q 3.50 -2.15 200
09:34:58 Q 3.50 -2.15 600
Sure did.
Recent Trades - Last 10
Time Ex Price Change Volume
15:26:33 Q 0.002 +0.0018 500,000
15:26:16 Q 0.0002 - 1,500,000
15:26:15 Q 0.0002 - 4,925,000
15:25:50 Q 0.0002 - 9,000,000
15:25:50 Q 0.0002 - 1,000,000
15:25:43 Q 0.0001 -0.0001 999,899
15:25:38 Q 0.0002 - 1,000,000
15:24:57 Q 0.0001 -0.0001 100
15:24:57 Q 0.0001 -0.0001 999,999
15:24:56 Q 0.0001 -0.0001 999,999
Confidence galore ...
SHORE GOLD BULK SAMPLE MINING COMPLETED
Stock Symbol: SGF: TSX-VEN November 9, 2004
SHORE GOLD INC. Saskatoon, Saskatchewan
STAR DIAMOND PROJECT
BULK SAMPLE MINING COMPLETED: 25,000 TONNES ON SURFACE
George H. Read, P. Geo., Senior Vice President Exploration, is pleased to announce that mining of the kimberlite bulk sample on the Star Diamond Project has been completed. Reconciliation of all mined rock on surface confirms that 25,000 dry tonnes of kimberlite have been mined and hauled to surface. Shore geologists are confident that the processed kimberlite will produce a diamond parcel in excess of 3,000 carats. Kimberlite processing through the on-site DMS plant proceeds on schedule and to date some 20,000 dry tonnes have been processed and the concentrates dispatched to SGS Lakefield Research for final diamond recovery. The rate of on-site kimberlite processing through the recovery plant has been
increased in the past month and currently exceeds 200 tonnes per day.
The Star Diamond bulk sample program was designed to recover a parcel of at least 3,000 carats of diamonds to enable an accurate valuation of the stones. Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Venture
Exchange under the trading symbol “SGF”.
For further information please contact:
Kenneth E. MacNeill, President & C.E.O.; George Sanders, Vice President Corporate Development; or
George H. Read, P. Geo., Vice President Exploration at (306) 664-2202.
SHORE GOLD BULK SAMPLE MINING COMPLETED
Stock Symbol: SGF: TSX-VEN November 9, 2004
SHORE GOLD INC. Saskatoon, Saskatchewan
STAR DIAMOND PROJECT
BULK SAMPLE MINING COMPLETED: 25,000 TONNES ON SURFACE
George H. Read, P. Geo., Senior Vice President Exploration, is pleased to announce that mining of the kimberlite bulk sample on the Star Diamond Project has been completed. Reconciliation of all mined rock on surface confirms that 25,000 dry tonnes of kimberlite have been mined and hauled to surface. Shore geologists are confident that the processed kimberlite will produce a diamond parcel in excess of 3,000 carats. Kimberlite processing through the on-site DMS plant proceeds on schedule and to date some 20,000 dry tonnes have been processed and the concentrates dispatched to SGS Lakefield Research for final diamond recovery. The rate of on-site kimberlite processing through the recovery plant has been
increased in the past month and currently exceeds 200 tonnes per day.
The Star Diamond bulk sample program was designed to recover a parcel of at least 3,000 carats of diamonds to enable an accurate valuation of the stones. Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Venture
Exchange under the trading symbol “SGF”.
For further information please contact:
Kenneth E. MacNeill, President & C.E.O.; George Sanders, Vice President Corporate Development; or
George H. Read, P. Geo., Vice President Exploration at (306) 664-2202.
traded at .11
...
" .. The players are clearly marked in this fraud and, unlike the SEC, our eyes are open enough to pick them out. These overseas operations cannot operate effectively without the compliance of the US Members and Regulators. Members willing to accept their trading volumes for the pure revenues of commissions and Regulators willing to ignore the abuses based on the pedigree of the Companies most easily abused. It is no clearer than the defendant’s claims in the Anthony Elgindy trial underway ..."
billy ...
my thoughts are that the SEC is aware many eyes are watching this like a hawk. They can't aford to turn a blind eye anymore anymore and hopefully this is the start of something good.
Why don't you two stay on your private board with all the others that think alike.
http://www.investorshub.com/boards/board.asp?board_id=3020
Shore ups its carat crop
2004-11-04 14:14 ET - Street Wire
by Will Purcell
Shore Gold Inc. has another batch of diamonds from its Star kimberlite. The company's 25,000-tonne bulk sample continues to produce encouraging grades from the 235-metre level of the mammoth kimberlite complex. As well, the latest portion delivered a particularly promotable haul of larger gems. There was considerably more promise than disappointment in the latest results. The latest lots of kimberlite support hopes that the lower portions of the pipe will have an economic grade, while the big diamonds increase the chances the value of the Star diamonds will exceed expectations.
The ninth set
Shore Gold's ninth set of samples weighed 1,631 tonnes, all of it taken from the 235-metre level. The rock contained nearly 309 carats of diamonds, with nearly all of the carats contained in stones large enough to cling to a 1.18-millimetre screen. That works out to a sample grade of nearly 0.19 carat per tonne.
That figure was significantly higher than the 0.154-carat-per-tonne figure produced by the eighth set of samples in mid-October. That result triggered a bit of a sell-off. Shore's shares were trading as high as $2.80 at the time, but the news sent the company's shares to a low of $2.10 by the end of the month.
The healthier diamond content of the latest samples may be the result of a more favourable location, not just an indication of higher-grade rock. Six of the batches sampled the southeastern drive of the 235-metre level with the latest samples, while a lone lot of kimberlite came from the northern drive. The last time, three batches came from each region of the pipe.
The six individual samples in the latest test from the southeastern region weighed 1,343 tonnes and contained nearly 263 carats. That was good for a grade of about 0.20 carat per tonne. The one sample from the northern zone weighed about 288 tonnes. That rock produced just over 46 carats, for a grade of 0.16 carat per tonne.
The news that got the market's speculative juices flowing had little to do with grade. Rather, it was the presence of two valuable diamonds in a parcel that included several large stones. Those finds quickly caught the attention of investors.
Shore now has a second 19.7-carat diamond. This time the company's vice-president of exploration, George Read, described the diamond as having a "particularly high value." The company classified the diamond as an off-white gem that falls about 0.03 carat short of being the largest diamond in Shore's parcel. Nevertheless, the gem opened the door for the possibility of still larger stones. The diamond was a fragment of a significantly larger stone that the company believes had been broken during mining.
A second stone also caught Mr. Read's eye. That stone weighed just 4.77 carats, but it was a white, flawless and octahedral diamond. The latest parcel also included a diamond weighing 11.57 carats that ranks fifth in the entire sample, but that stone was grey in colour.
Shore recovered an 8.07-carat off-white stone ranking 10th among Shore's entire diamond haul, along with a 5.31-carat brown stone. The latter two finds were not as toutable, but Shore seemed particularly pleased with the promotability of its latest parcel.
Shore wasted little time in posting pictures of its gems on the company's website. That is usually a clear sign that the diamonds carry a significant value. There were other signs that the latest samples had a healthy diamond size distribution, and that is an improvement over the earlier set of samples. The mid-October result had a smaller average diamond size and the size distribution of those samples fell a bit short of what the company found in its earlier tests.
The average diamond weighed 0.11 carat in the eighth set of samples and one-carat diamonds accounted for about 27 per cent of the weight of the diamond parcel. The cumulative tally reveals an average stone size of about 0.12 carat and just over one-third of the weight of the diamond parcel comes from stones weighing at least one carat.
There was a significant rebound with latest batches of kimberlite. The average diamond weighed 0.126 carat and one carat diamonds contributed nearly 38 per cent of the weight of the parcel.
The total tally
Shore now has the diamond tallies from 16,207 tonnes of kimberlite. The company's diamond parcel now weighs 2,122 carats, or about 0.13 carat per tonne. So far, Shore has 274 diamonds weighing at least one carat, and the haul includes 104 stones that weigh more than two carats. There were at least 22 diamonds in Shore's 2,100-carat parcel weighing at least five carats. Those five-carat diamonds account for nearly 200 carats, or just less than 10 per cent of Shore's parcel.
Star's grade is clearly modest when compared with the economic pipes in Canada's North, but its diamond size distribution is another matter. Tahera Diamond Corp. processed 9.400 tonnes of kimberlite from its Jericho pipe in the mid-1990s, coming up with just over 11,000 carats of diamonds and a grade of 1.18 carats per tonne.
That value is roughly seven times higher than Shore is averaging in its early Joli Fou phase. The Jericho pipe also displayed a noteworthy diamond size distribution. Tahera's sample contained 64 diamonds that weighed five carats or more, but that was just triple the number in Shore's significantly smaller diamond parcel. Five-carat diamonds accounted for about 6 per cent of the Jericho parcel.
Winspear Diamonds Inc. processed nearly 6,000 tonnes of kimberlite form Snap Lake in 1999. The rock yielded nearly 11,000 carats of diamonds. Five-carat diamonds accounted for just 4 per cent of the parcel weight and one-carat stones contributed less than one-quarter of the weight of the diamonds. Those values are significantly lower than Shore has found in its early Joli Fou samples.
That could bode well for the value of the Star diamonds. Tahera now pegs the value of its Jericho diamonds at something close to $100 (U.S.) per carat, and Winspear received an appraisal of $118 (U.S.) per carat for its parcel in 1999. Size has an important influence on value, so Shore's Star appears to be off to a good start.
The 235-metre level has produced 1,454 carats from 7,947 tonnes of kimberlite, indicating a grade of 0.183 carat per tonne. Most of that rock came from the southeastern drift, which yielded an average grade of 0.203 carat per tonne, while the northern zone rock has an average grade of about 0.124 carat per tonne.
As Shore's sample edges closer to its 25,000-tonne target, the company's chances of exceeding its 3,000-carat goal are growing rapidly. It is logical to expect that the remaining 8,800 tonnes of kimberlite will come from the far richer early Joli Fou phase of rock. Further, most of it will probably come from the southeastern drive of the 235-metre level that has delivered the best of the grades.
If the current results are representative of what is to come, Shore's final tally would exceed 3,500 carats. The complete sample could top the 3,700-carat mark, based on the average grade from the promising 235-metre level.
The lingering questions
There now seems no doubt that Shore's samples lived up to Mr. Read's expectations for the early Joli Fou phase of Star's kimberlite. Shore's one reverse circulation hole into the depths of Star suggested an average grade of about 0.12 carat per tonne in that phase of the pipe. The company drilled many core holes into various parts of Star, and most of the diamond counts pointed to a grade in that range as well.
The individual grades within the individual samples taken from the early Joli Fou phase continue to vary between about 0.1 carat per tonne and 0.3 carat per tonne. That is hardly unusual and Mr. Read called the variation "situation normal for any kimberlite."
No doubt Shore is intentionally taking an inordinate portion of its bulk sample from the early Joli Fou phase, as the goal of the test is a large diamond parcel, not to deliver a representative grade. What is still unclear is whether Shore's sample is coming predominately from a higher-grade region within the higher-grade early Joli Fou phase.
With carats the primary focus, it seems probable that Shore would target its sample in the most promising region of Star. The grade of the material from the southeastern drive at the 235-metre level is significantly higher than what is coming from the northern region, and from other levels within the early Joli Fou rock. Still, that could just be a matter of luck, as richer regions could be lurking in those areas as well.
It will take a major drilling program to better delineate the diamond content of the huge Star pipe, estimated to contain up to 500 million tonnes of kimberlite. Shore classified about 80 per cent of the rock as the favourable early Joli Fou material. That drilling would represent a further advance of the Star project and offer another vote of confidence in the project. In the meantime, the toutable grades and large diamonds increase the odds of Shore moving to a more formal study next year.
Firm decisions on such matters will likely require an appraisal of the Star diamonds. That is still a few months in the offing, but expectations that Shore will handily surpass its target of $100 (U.S.) per carat continue to grow as well. In mid-September, Mr. Read said he thought a value of $125 (U.S.) per carat would prove conservative, and there is clearly nothing in the results since then to prompt a more pessimistic view.
Shore jumped 26 cents on Tuesday and another two on Wednesday, closing at $2.52
http://www.stockwatch.com/swnet/newsit/newsit_newsit.aspx?bid=B-392226-C:SGF&symbol=SGF&news...
Petition the SEC to do its job.
http://www.investigatethesec.com/index1.php
Great minds think ali
Reprinted from Dr.Diamond, Please all read...
Understand that we have our liberty to share many things with one another about CMKX, USCA, etc... But if we are talking about conversations we have had with insiders in the company, I suggest we use great caution.
Not that an insider would ever say anything they shouldn't, but sometimes things can be stated in a way by those that have had conversations with those that have information that could be damaging even if it is only the persons opinion.
I would ask that the Mods and Admins on all boards and Pal Talks to please be a little stricter in these areas for the benefit of all of us. I have been away for about a week and have sort of been out of touch, so please forgive me if another has already addressed this issue.
For instance I just read a post where a reporter or someone spoke of a private conversation between Ed Dhonau and others. Are you kidding me? We have to be wise people and think before we speak or write. I am sure this has been seen by God and everyone else by now as the single thread here had nearly 4000 reads not counting the other boards.
We need to understand that when we are under the microscope of the SEC for whatever reason, you don't throw stories like that out there, whether it is true or not. That is only giving information to the SHORTS and to the SEC investigators that are watching these boards and the Pal Talk rooms. This increases the difficulties that Roger may be up against.
I know many are wanting information and want to tell their stories, but please be reasonable and think. Whether Ed said or didn't say anything is only heresay, but what if he did? Who do you think would benefit from that information from the boards?
There is a time for everything: speculations, rumors, facts, stories, etc... But don't open a gasoline can when the sparks are flying from the fire if you know what I mean.
I do not mean this as a slam towards any individuals or as disagreement with information being returned from races, parties, or otherwise. I am saying please, please, please use caution.
Thanks for reading. Please take no offense as none is intended. Just my opinions and I ask that you treat them as such.
Be wise and practice discretion.
Dr.D
Logged
Remember ZFP?
zulu:foxtrot:poutine
I luv reading this stuff -
Among the most recent batches processed we have recovered two stones of particularly high value:
1) the 19.68 carat off white, fragment of a considerably larger stone,
recovered from Batch 40. The fresh breakage surface suggests that this stone was broken during underground mining activities; and
2) the 4.77 carat white, flawless octahedron recovered from Batch 38B. These stones confirm the presence of large, high value diamonds in the Star Kimberlite. Photographs of these two diamonds will be available this week on the Shore Gold website:
www.shoregold.com
Shore Gold Inc (SGF : TSX-V : C$2.50) - Hold - Target: NA
Graeme Currie
Comment: Shore Gold reports further diamond grades reported from Star Kimberlite Shore Gold is in the midst of completing the extraction and processing of a 25,000 tonne bulk sample from its 100% held Star Diamond Project in the Fort a la Corne area of Saskatchewan. To date, processing of 16,200 tonnes has yielded 2,120 carats. The results from the latest batches, totaling 1,630 tonnes in size, included a 19.68 carat off-white stone, reported as a fragment of a larger stone, recovered from Batch 40. The results continue to verify an overall average grade in the range of 13-15 cpht. Within yesterday's results, Batch 36 yielded a grade of 23.6 cpht. On completion of the processing of the bulk sample, the parcel of diamonds recovered is to be sent for valuation, the results of which are anticipated near year-end. Shore Gold has about 66 million shares issued and working capital has recently been increased by nearly $27 million to about $33 million via a just completed equity issue within which Canaccord was part of the selling syndicate. The company's largest shareholder is Magma Diamond with 9.4 percent. This is a subsidiary of Steinmetz Diamond Group, which is a significant De Beers site holder. We await valuation of the 3,000-5,000 carat diamond parcel prior to setting a valuation level. We recognize the enormous potential of this project to host a very large diamond deposit with a grade in the 15-cpht range. This said, the lower grade of this large body requires, in our view, carat valuations of plus US$100/carat. Once achieved, the company needs to verify the homogeneous nature of the Early Joli Fou and then to begin to define capital cost parameters. We are optimistic regarding this project but until valuation parameters are released we will remain conservative and recommend the shares as a HOLD.
Star Diamond Project: Over 2,100 carats to date - 19.7, 11.6 and 8.1 carat diamonds in 309 carat parcel
Tuesday November 2, 1:11 pm ET
Stock Symbol: SGF: TSX-VEN
SASKATOON, SK, Nov. 2 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration, is pleased to announce the ninth set of diamond recoveries from the Star Kimberlite. The diamond recoveries to date total 2,120.68 carats from 16,206.88 dry tonnes processed. These results are for seven kimberlite batches of a total of some 80 to 100 kimberlite batches that will be processed as part of the bulk sampling program on the Star Diamond Project, the aim of which is to recover a parcel of some 3,000 carats for valuation purposes. A total of 2,162 commercial sized diamonds (greater than 1.18 millimetre square mesh screen), collectively weighing 304.52 carats, has been recovered from the treatment of 1,630.94 dry tonnes of kimberlite. Forty-two diamonds greater than one carat have been recovered and the four largest stones are: 19.68, 11.57, 8.07 and 5.31 carats, respectively. In addition, 292 diamonds (4.43 carats) were recovered down to 0.85 millimetre square mesh. The colour of 73 percent of these diamonds has been classified as white, with a further 11 percent classified as off-white.
These seven kimberlite batches (of a total of 50 processed) have been mined from the Southeast drive (Batches 35A, 35B, 36, 37, 38A and 38B) and the North drive (Batch 40) developed from the 235 metre shaft station. All of these kimberlite batches have been recovered from within the Early Joli Fou equivalent kimberlite. Results to date have shown that higher diamond grades are associated with the Early Joli Fou equivalent kimberlite than with the Late Joli Fou equivalent kimberlite. The relationships between these two kimberlites types are illustrated in cross sections available on the Shore Gold website: www.shoregold.com.
Batches 39, 41, 42A, 42B, 43, 44, 45A and 45B (all from 235 metre level) have been processed on-site and the concentrates dispatched to the sorting laboratory for final diamond recovery. Results from these batches are pending. A total of 18,600 dry tonnes has been processed through the on-site DMS plant. All batches processed to date are classified as crater facies volcaniclastic kimberlites.
Kimberlite processed and diamond results for seven sample batches are listed in the table below. Grades are expressed in carats per hundred tonnes (cpht).
-------------------------------------------------------------------------
Diamonds Largest
Batch Location Dry Number of Total Grade Stone
No. (metres below surface) Tonnes Stones (carats) (cpht) (carats)
-------------------------------------------------------------------------
35A 235 m Level: SE drive 193.81 282 20.20 10.42 1.22
-------------------------------------------------------------------------
35B 235 m Level: SE drive 205.07 319 45.02 21.96 11.57
-------------------------------------------------------------------------
36 235 m Level: SE drive 239.21 353 56.50 23.62 5.31
-------------------------------------------------------------------------
37 235 m Level: SE drive 254.85 568 53.35 20.94 3.87
-------------------------------------------------------------------------
38A 235 m Level: SE drive 185.83 211 38.92 20.94 8.07
-------------------------------------------------------------------------
38B 235 m Level: SE drive 264.56 383 48.69 18.40 4.77
-------------------------------------------------------------------------
40 235 m Level: N drive 287.61 338 46.27 16.09 19.68
-------------------------------------------------------------------------
Total 1,630.94 2,454 308.95 18.94
-------------------------------------------------------------------------
The four largest stones are: 19.68 (Batch 40, Off White), 11.57
(Batch 35B, Grey), 8.07 (Batch 38A, Off White) and 5.31 (Batch 36, Brown)
carats, respectively. Seventeen diamonds exceed two carats and 42 diamonds
exceed one carat, of which 22 are white, 10 are off-white, 9 are grey and 1 is
brown. A total of 94 diamonds exceed 0.5 carat. Seventy-three percent of the
total diamond parcel is classified white in colour, with a further 11 percent
classified as off-white. The diamond parcel includes 11 pink, 23 yellow and 14
amber stones. Ninety-nine percent of the carat weight of this parcel occurs in
diamonds greater than 1.18 millimetre square mesh.
Senior Vice President Exploration, George Read, states: "To date,
kimberlite bulk sample processing has produced a 2,120 carat diamond parcel.
The diamond parcel contains a significant proportion of large stones and an
abundance of white diamonds, which will contribute favourably to the average
value ultimately determined for the bulk sample diamond parcel. Among the most
recent batches processed we have recovered two stones of particularly high
value: 1) the 19.68 carat off white, fragment of a considerably larger stone,
recovered from Batch 40. The fresh breakage surface suggests that this stone
was broken during underground mining activities; and 2) the 4.77 carat white,
flawless octahedron recovered from Batch 38B. These stones confirm the
presence of large, high value diamonds in the Star Kimberlite. Photographs of
these two diamonds will be available this week on the Shore Gold website:
www.shoregold.com".
The diamond recovery procedure includes on site processing of kimberlite
through the modular dense media separator (DMS), after which DMS concentrates
are batch fed through an X-ray Flow-sort. In order to ensure the recovery of
low luminosity diamonds, the Flow-sort tailings are processed over a grease
table. Flow-sort and grease table concentrates are transported by a secure
carrier to SGS Lakefield Research for final diamond recovery. The SGS
Lakefield Research process includes drying, screening, magnetic separation,
manual sorting and diamond weighing and description. SGS Lakefield Research is
accredited to the ISO/IEC 17025 standard by the Standards Council of Canada as
a testing laboratory for specific tests.
Senior Vice President Exploration, George Read, Professional Geoscientist
in the Provinces of Saskatchewan and British Columbia, is the Qualified Person
responsible for the verification and quality assurance of analytical results.
The Star Diamond Project is designed to recover a parcel of at least
3,000 carats of diamonds to enable an accurate valuation of the stones. Up to
25,000 tonnes of kimberlite will be recovered from the shaft and drifts and
processed on site to produce this diamond parcel. Shore is a Canadian based
corporation engaged in the acquisition, exploration and development of mineral
properties. Shares of the Company trade on the TSX Venture Exchange under the
trading symbol "SGF".
I'm unable post you privately Euthy.
Possibly because I paid no fees ...
I'll gather what I can and share with you sometime hence.
If it never happened to you Euthy, you wouldn't believe it. You're the proof of that.
Fact is it happend to me twice within a short period of time. My objections to the house I deal thru were met by an invitation for me to file a complaint to the association of brokerage houses that manage the game ... and wait 6 months for their binding decision - Where would that get me .. lol?
I see no reason for the MMs to "trade around" any order - what would that reason be (just out of curiosity...lol)?
Green Baron Special Stock Update
CMKM Diamonds, Inc. (CMKX) &
U.S. Canadian Minerals (USCA)
Shareholder Appreciation Event Last Weekend in Las Vegas is a First Class Event, but No Balloons are Dropped!
Two partners of our parent company, Evergreen Marketing, Inc., attended the CMKX/USCA (pre-split UCAD) shareholder appreciation event in Las Vegas last weekend. Although we had originally anticipated that the companies? respected attorney D. Roger Glenn would be speaking at the primary event held Saturday night, the temporary halt in trading of U.S. Canadian Minerals by the SEC last Thursday obviously put all planned speaking engagements on hold. The Green Baron Report believes a strict gag order is being enforced over all related officers and directors during the SEC inquiry period.
The party was a success in that it provided a wonderful opportunity for well over 2000 shareholders to meet one another face to face and share insight about these companies. Just about everyone agreed that CMKM Diamonds and U.S. Canadian Minerals put on an absolute first class event that included bountiful amounts of food, entertainment, and souvenirs. The individuals that organized all the weekend?s activities as well as the many shareholders that volunteered time to help should be complimented for producing the best ?Shareholder Appreciation Event? one could expect or imagine.
However, the event disappointed many in that there was no public acknowledgment or explanation whatsoever to address the many concerns that we as shareholders continue to have about CMKX share structure, a filing date to become fully reporting, suppressed movement, and an estimated valuation of mineral assets. There were some people that traveled from outside the country in hopes to gain some knowledge first hand that might demonstrate a bright future. Green Baron representatives even remained curious during the event since a huge balloon drop had been rigged in front of the main staging area indicating the possibility of a blockbuster announcement. Of course, there were no speeches and the balloons did not fall from the rafters.
If is unfortunate that some of the original plans for the party were likely altered due to the seemingly consorted attack on these companies just a few days earlier. As we stated in our update last Thursday night, October 28, ?The Green Baron Report thinks now more than ever it is obvious a short position exists in the shares of US Canadian Minerals (USCA) and CMKM Diamonds (CMKX).? Upon further investigation over the weekend, we are utterly convinced that there is a very large short/naked short situation involved in the companies? stocks. The Green Baron Report has confidence that USCA and CMKX with its massive shareholder base will emerge stronger than ever from any inquiry, and we are hopeful that the SEC will instead enforce its rules on the few that may be illegally shorting stocks.
The Green Baron representatives that were in Vegas wish to express their deepest gratitude and thanks to those that read our newsletter and support our efforts. We received an enormous amount of positive feedback from members at the party for all our work in following these companies. We do our best to provide logical and well-substantiated information about all the low priced stocks we follow, and we hope that you will continue to find our information helpful.
This may sound a little monotonous to those that have followed our newsletter since we upgraded CMKM Diamonds to our storied home page of profiled stocks last August, but The Green Baron Report again remains convinced that CMKM Diamonds is nearing a positive new stage of its development and activity. We believe that the Company retains rights on some of the most mineral rich land in the world, and it will soon be clear that CMKM Diamonds is The Stock Play of a Lifetime.
Euthydemus .. you realize the pinks and OTC:BB are NOT auction type markets do you not? And as such, the MMs can pick and choose who they trade with ... They can trade all around you if it suits them.
Don't know what you guys in Canada do but this is not true here in the states - "You forget that they have the power to refuse your trade orders. "