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Get ready for Gold and other metals to make major upward moves again this week.
FINANCE LEADERS FAIL TO RESOLVE CURRENCY DISPUTE
By MARTIN CRUTSINGER and HARRY DUNPHY, Associated Press Writers Martin Crutsinger And Harry Dunphy, Associated Press Writers –
WASHINGTON – Global finance leaders failed Saturday to resolve deep differences that threaten the outbreak of a full-blown currency war.
Various nations are seeking to devalue their currencies as a way to boost exports and jobs during hard economic times. The concern is that such efforts could trigger a repeat of the trade wars that contributed to the Great Depression of the 1930s as country after country raises projectionist barriers to imported goods.
The International Monetary Fund wrapped up two days of talks with a communique that pledged to "deepen" its work in the area of currency movements, including conducting studies on the issue.
World Bank President Robert Zoellick said the rising economic tensions reflected a weak global recovery.
"A lack of growth accompanied by high unemployment is having consequences," Zoellick told reporters at a news conference concluding the IMF-World Bank meetings. "There is a danger that countries will turn inward and, as a result, international cooperation falters. This could be dangerous."
The communique essentially papered-over sharp differences on currency policies between China and the United States.
The Obama administration, facing November elections where high U.S. unemployment will be a top issue, has been ratcheting up pressure on China to move more quickly to allow its currency to rise in value against the dollar.
American manufacturers contend the Chinese yuan is undervalued by as much as 40 percent and this has cost millions of U.S. manufacturing jobs by making Chinese goods cheaper in the United States and U.S. products more expensive in China.
China has allowed its currency, the yuan, to rise in value by about 2.3 percent since announcing in June that it would introduce a more flexible exchange rate. Most of that increase has come in recent weeks after the Obama administration began taking a more hardline approach and the U.S. House passed tough legislation to impose economic sanctions on countries found to be manipulating their currencies.
Chinese officials continued to insist that their gradual approach to revaluing their currency was best, and that faster movements risked destabilizing the Chinese economy.
Various other nations, including Japan, Brazil and South Korea, also have taken steps to keep their currencies weaker in an effort to increase their exports. And in the United States, expectations of further monetary easing by the Federal Reserve have driven the dollar down significantly against the euro and other major currencies.
IMF Managing Director Dominique Strauss-Kahn said he did not view the outcome of the IMF discussions as a failure. He said they set the stage for further progress at the upcoming summit of leaders of the Group of 20 nations in November in Seoul and at future IMF meetings.
The G-20 includes traditional economic powers such as the United States and Europe along with fast-growing economies such as China, Brazil and India.
"I am not disappointed," Strauss-Kahn told reporters about the outcome of the two days of talks.
Strauss-Kahn acknowledged that significant differences also remained on the question of reforming the IMF by giving China and other fast-growing economic powers greater voting rights and representation on the IMF board. The G-20 leaders are supposed to endorse a deal on IMF reform at their November summit.
Treasury Secretary Timothy Geithner on Wednesday raised the possibility that awarding greater power to China in the IMF should be linked to an increased willingness of that country to reform its currency system.
But Oxfam, an international aid group, criticized Geithner's comments.
"The currency war cannot be used to hold IMF reform hostage," said Oxfam spokesperson Pamela Gomez. "The IMF can't do its job unless emerging economies are at the table."
On Saturday, Geithner told the IMF's policy-setting panel that the organization must begin to speak more forcefully about how countries manage their currencies.
The IMF's concluding statement did pledge to work for "stronger and evenhanded surveillance to uncover vulnerabilities in large advanced economies." Strauss-Kahn said he would personally participate in the annual economic reviews of the world's five or six largest economies, a group that would include the United States and China.
But private economists were not impressed with the IMF's new commitments on surveillance.
"The IMF ratcheted up the focus on exchange rate surveillance a few years ago and then eased off under pressure from China," said Eswar Prasad, a trade professor at Cornell University.
French Finance Minister Christine Lagarde said Saturday that a successful resolution of the currency dispute with China would require a cooling of over-heated rhetoric about currency wars.
"In a war, there is always a loser and in this situation there must not be a loser," she said.
___
Associated Press writer Luis Alonso contributed to this report.
http://news.yahoo.com/s/ap/20101009/ap_on_bi_ge/us_global_finance
Yeah, guess I'll be moving along then.
I'm overwhelmed! Thanks TinkerBelle...........and "HEY PJ GOOD WORK"!
Anybody have the link to Dennis V. Woods report on Rusty Ridge?
One very important difference, the SS factor. GO WAMUQ!!!
No surprise. Just bottom feeders scratching and clawing for the top.
GOLD ON FIRE this AM. $1337.60/oz. Don't give'em your shares!
With the very favorable deal given to Vale in the Lucky properties, Ken has 'opened the door' so to speak for future deals.
"Next month will mark two years since federal regulators seized Washington Mutual and sold it to JPMorgan Chase for $1.9 billion. Now a document that appears to be from the Federal Deposit Insurance Corporation suggests the deal still hasn’t closed.
“Everyone is saying the sale is finalized,” said the shareholder, Farokh Lam, of Woburn, Mass. “It is not.”
Lam noticed that on pages 7 and 9, the original WaMu purchase and sale agreement allows the FDIC to extend the settlement date. He says he asked about it, and the FDIC confirmed in phone calls and emails that the settlement date was set for Aug. 30, 2010, and could be extended further."
"Does this mean that all the WAMU foreclosures being pushed through the courts by JPMorgan Chase using the FDIC Purchase and Sale Agreement are invalid?
Does it mean if they haven’t closed the deal THEY DO NOT OWN THE LOANS OR THEIR SERVICING RIGHTS?"
This may bring a lot more visibility publicly to the whole ordeal, something that could backfire on JPM in the long run. I see this working to our BIG advantage. The media will be all over this. It's like JD is saying, just TRY and stop us............the arrogancy! Those TV ads JPM is running to sway public opinion are about to go down the toilet. FDIC & JPM were made for each other. Just another step in the pissing contest going on between the two. My oh my, how the tide has changed!
Now we know what SS meant when he said, 'It's all over'! GREAT FIND!!!
I will say one thing, with only 613,797 available shares, this thing is going to rocket with any kind of volume, assuming no change in share structure. Add to that the fact investors are hungry for metals now and less so for the conventional markets.
Now, do ya think that just maybe Vale had some influence in that???
A heck of a lot more safe than the bank down the street! ;)
GOLD $1287.20/oz +$14.20
Folks just need to lay low and stop being a bunch of worry warts. WE WILL BE FINE! A while back, I said something to the effect, the amount of anxiety you feel is inversely proportional to the amount of DD you do. That is so true! Go back and read some of the early posts from late last year and you will feel a lot more confident.
This is just the way the exploration business is. These things take time. Just know that we have a very aggressive company here that moves much faster than most. We are making excellent progress. The worst thing we as a company can do right now is try to rush this.
If this makes anyone feel better, consider this; I originally bought in July 2009 and watched it plunge all the way from $0.38 to $0.0014 in November 2009, back up to $0.252 in May 2010 and now to $0.08. I just stay buckled in my seat knowing who we have at the helm.
POST #64231 By: renaissance man (Longs in particular will appreciate this, a true classic!)
Being on this board makes me think of being on a plane with a bunch of people who have never flown before. They are excited to be on board but when the plane encounters some turbulence, they begin to get nervous. They are experiencing a downdraft and snow on the wing is making it difficult to control the plane. The day fliers on board begin to stir up the newbies into a panic. An old grump in the back of the plane starts complaining that its only safe to be in a plane when it's on the ground and that no one has any business flying high. A blacksmith is pounding the walls shouting, "cheaply built. She'll never hold together." A gun owner is waiving his guns in the air and telling everyone to bail out now while there's still time. A bishop is advising everyone to prepare to meet his maker, chanting we're all gonna die, we're all gonna die... And to top it off a wild monkey has gotten loose from the excess baggage department and he is running up and down the isle, jumping up and down and screaming. Some of the passengers listen to all the noise and do bail out, losing their seats forever to other greedy passengers who jump in and claim those seats for themselves, just as they planned. Others are encouraged by more experienced fliers who calm them down, advising them to remain seated and buckled up. They calmly explain that this is just turbulence and that it's not unusual on this type of flight. These are good people, steady as e rock, seasoned fliers from the UK, smart people like biochemists, patient people like fishermen, and other trustworthy people, all expressing their absolute confidence in the pilots ability to fly the plane. They know that Ken, the pilot will bring them all safely to their destination, in spite of the mms in the control tower, if they can all remain calm. And in the meantime he's doing all he can to take the plane higher, above the turbulence. The new passengers who are left sit back, still nervous but encouraged and cautiously optimistic. As they look out the window they see a birdlike man, unable to come on board but still flashing a highsign to anyone who sees him. All is well. It's quite a ride but we good. Thanks to all the positive posters.
--------------------------------------------------
In the meantime, gold continues it's skyward climb. WE GOOD!!!
It's Obama's new reformed WS!
True, but don't be disappointed if there is another delay. Hurricane IGOR is due to arrive sometime Tuesday PM.
"...big miners choosing to acquire smaller exploration companies because of the amount of time involved in bringing a mine to production and a lack of quality gold reserves, analysts said. "
"Year to date, as of Sept. 15, there have been 507 announced gold-mining-related deals valued at $29.6 billion, compared with 407 valued at $15.0 billion in 2009..."
“The major companies have always relied upon the more nimble and aggressive junior exploration companies to make discoveries,” he said. “Once a small company has outlined a significant new deposit, the big boys swoop in and take over the smaller operation.”
http://www.marketwatch.com/story/rise-in-gold-sector-ma-raises-eyebrows-2010-09-17?pagenumber=1
I think we certainly qualify as an "aggressive junior exploration company".
Might this have something to do with October 30th being a Saturday?
The $113 mil is simply the purchase price paid by KATG when the HC property was bought from KATX. More balancing of the books for the accountants than anything. The true value of HC is in the process of being determined right now with the drilling program and will be more finalized upon filing of the NI43-101 with the Canadian Government.
http://miningmarketwatch.net/ni-43-101.htm
Things are moving along. Another 8-K filing was made today with the SEC:
http://www.sec.gov/Archives/edgar/data/1412126/000093041310004791/c62751_8k.htm
Summary of new items:
Item 3.02: Unregistered Sales of Equity Securities
Item 5.01: Changes in Control of Registrant
Item 5.02: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
Item 5.06: Change in Shell Company Status
Item 8.01: Other Events
Item 9.01: Financial Statements and Exhibits
Transparency my friends! One of the essential elements required for uplisting.
No link or quote, just my belief from the date of the original posting and PR stated 45 day distribution from record date.
OFFICIAL KATG SEC FILINGS HERE!!!
http://www.sec.gov/cgi-bin/browse-edgar?company=KAT+Gold&match=contains&CIK=&filenum=&State=&Country=&SIC=&owner=exclude&Find=Find+Companies&action=getcompany
The latest updated filings (including financials) are dated 8-12-2010. I believe our revised distribution date is no later than 10-12-2010, 60 (calendar) days after the filing date with the SEC.
You may be on to something. Maybe, just maybe it's already a done deal. Ken may very well have worked out a deal with a buyer or JV'er to give the opportunity to shareholders to sell right away. Why else would Ken change his mind on the share restriction??? This way, only true longs get rewarded. HMMMMMMMMMMMM.
TO KAT LONG SHAREHOLDERS "who will recive shares of BVIG" .....THEN WHEN HANDCAMP GOT SOLD.""Handcamp sold BVIG June 8th. "".....TAKE 1/4 OF THE PPS OF BVIG "...AND ADD IT TO KATX EVERY TIME YOU CHECK YOUR STOCK......FOR A (( COMBINATION VALUE PPS )).....
THE CHART OF KATX SHOULD SHOW OLDER LONGS WHAT THE ( COMBINED VA.........LUE ) ...IS....
HANDCAMP DID NOT DISSAPEAR.......IT IS COMMING TO US......IF IT WAS TAKEN OUT ..."THE VALUE".....IT STILL BELONGS TO US .......TO BE REALISTIC....YOU HAVE TO ADD IT BACK IN
IN REALITY WERE AT 18 CENTS ......ADDING THE 2 VALUES TOGETHER. THE POINT IS THAT "THE CHART" ...IS LOOKED AT ((( WITH THE VALUE OF HANDCAMP BEFORE JUNE 8TH.....THEN THAT VALUE LEFT KATX....BUT IT DID ((( NOT ))) LEAVE US LONGS!!! AND WE KNOW THAT ....BUT WHEN YOU LOOK AT THE KATX CHART AND GET ALL GLOOMY. ((( STOP FOR A MOMENT AND PUT ON YOUR "Spock Brain"......DID YOU REALLY ADD THE PRICE OF HANDCAMP BACK IN ???? ((( NO? ))) WHY THE HECK NOT?...AND THE TRUTH IS NITHER DID I "most of the time".... THE FACT IS THAT WHEN KATX WAS .14 CENTS A SHARE AND BVIG WAS .85 CENTS "Aug 10th".....TAKING ONE QUARTER OF THE VALUE OF BVIG AT .85 CENTS = .21 cents + AND KATX PPS ON THAT DATE WAS .14 cents THE COMBINED WOULD BE .35 + CENTS !...RIGHT NOW OUR COMBINED PPS FOR OLDER KAT LONGS WHO HELD THROUGH THE DIVISION OUR COMPANY IS ABOUT .18 CENTS.......AND FOR THE KATX SIDE WERE ABOUT TO HEAR OF THE DRILL BIT HITTING THE GROUND ON RUSTY....AND I FEEL A REPORT MAY BE COMMING ON LUCKY FROM VALE...CABBOT?? CLIFTON?? 8K's 10K's ....AND FOR OUR GOLDEN BABY KATX.....((( HANDCAMP 2nd Round ))) IS WELL IN THE PLANING AND WILL ALSO HAPPEN THIS FALL ((( MUCH LARGER DRILL PROGRAM ))) ....I would like to thank to thank Biochem for this Chart showing the combined PPS of both katx and katg/bvig....... The truth will set you free!
KAT Exploration Inc. Post # 95647
investorshub.advfn.com
KAT Exploration Inc. KATX Stock Message: Chart of combined KATX & BVIG value from
Yesterday at 9:07am
- Courtesy BMB
What we all know....OR SHOULD.... 1. A second Drill program on the Handcamp will lead to one of two things.....1. A outright buy out. ...or 2. A Joint Venture "my preference is with Teck....there both aggressive when buying Gold/Copper Properties as was evident with Duck Pond but I believe Teck also goes back a long wa...y with Ken Stead and has a personal relationship with the crew of the Duck Pond Management. ..................................................................................... Also concerning the Handcamp is other facts that none can deny.....1. A large VMS has a multy mineral possibility and Teck according to Ken is his first choice to processes the Handcamp Volcanic Massive Sulfide deposit. Teck is best suited to extract Copper, Silver, Zink, and the Gold as well.................................................................... I expect Handcamp will go to Teck and let’s not forget what happened to the shareholders who owned Duck Pond then Teck bought them out for 40+ per share .....at a time when Gold and Copper Zink and Lead were all at a much less price per ounce............................................................................ Now let’s speak of Lucky for a minute................................................................. The Lucky Properties North and South are a discovery Ken and Tim found long ago while with Cornerstone......Ken was one of the two original founders ..........It is fair to say that the Bonivista area and sediment hoisted Copper Deposits are not only Ken and Tim’s Specialty ...............................But it is also fair to say ((((( ALL ))))) the copper finds on the Bonivista are the discoveries of Ken and Tim Stead..... Ken had a hand in ....((( Eleven Joint Ventures ))) while with Cornerstone......think about that for a minute......11 .....Then since those days Ken and Tim spent ((Five)) years working on the Lucky N. and S. ...bringing them forward ............and....(((( ANYONE )))) who thinks that it was just a (((FLUKE))) that exactly (((( SEVEN DAYS )))) in late November after Ken and Kat announced the (((( HUGE COPPER FIND )))) on the Lucky that early December (((( VALE )))) NOT JUST SUROUNDED BOTH THE LUCKY PROPERTYS......BUT.......ALSO FILED MORE LEASES AT ONE TIME IN EASTERN CANADAS HISTORY!!......VALE HAS EVERY AVAILABLE LEASE ON THE BONIVISTA.....SO MUCH LAND IS TAKEN THAT IT COST OVER ONE MILLION DOLLARS PER YRAR JUST TO MAINTAIN THOSE LEASES.....AND IF YOUR FAMILUR WITH VALE.....YOU WOULD KNOW THAT ON THE(( N.E. CORNER)) OF LABIDOR STRAIGHT NORTH OF THE ((N.E. CORNER)) OF NEWFOUNDLAND GIANT VALE HAS THE 60 BILLION DOLLAR NICKEL PROPERTY AT VOISEY BAY....................... THE LEASE AREA AT THIS 60 BILLION DOLLAR PROPERTY NORTH OF US.....IS .......ONE HALF......OF.....THE....LEASE AREA.....VALE HAS....ON THE BONIVISTA....SUROUNDING KATS LUCKY NORTH AND LUCKY SOUTH..... PS: JAMES WICK ((( WAS THE SUPERVISING GEOLIGEST ON THE VOISEY BAY DRILL PROGRAM.......JAMES WICK IS THE SUPERVISING GEOLIGEST ON THE HANDCAMP DRILLING.................JAMES WEICK IS THE SUPERVISING GEOLIGEST ON THE RUSTY RIDGE DRILLING COMMING ANY DAY......AND JAMES WICK WILL ALSO BE THE SUPERVISING GEOLIGEST ON THE HANDCAMP SECOND FAZE DRILL PROGRAM AS WELL....... ONLY THE BEST FOR VALE.....ONLY THE BEST FOR KAT......DO YOU BELIEVE IN COINISIDENCE..
geo_newfie has it right. This bears repeating:
geo_newfie Wednesday, September 01, 2010 2:02:20 PM
Re: tantalos60 post# 93009 Post # of 95480
When you actually start pulling core/rock from the ground is when you know if you are really in a mineralized zone. All drilling programs (should) are dyanmic. They hit the top locations/targets and during the actual drilling they went a little deeper in several holes, thus the overage wrt the footage. So they cut three location in order to get that extra footage. I have been involved in drilling programs where you get to your target depth, but things still look good (i.e., veining, mineralization, etc), so you drill a little deeper to ensure you get to the end of the rocks of interest.
They got the work done they wanted and will probably roll those three other locations into Phase II along with new targets and infill drilling.
From the latest info they released the driller and are in the process of setting up a new contract to cover the upcoming drilling program at RR and maybe even HC.
Many have questioned why they didn't keep drilling while they had the rig on site. Obviously they hit their goals for Phase I and wanted to re-focus on RR. Meanwhile, get the results from Phase I HC drilling to plan the next stage. Keeping a rig onsite without drilling (i.e., standby time) is VERY expensive. So it makes sense to let the rig go and then setup a new contract. Some people have a problem with that, but it makes good business sense.
Ken is juggling two separate programs/companies, with one focused on Au and the other base metals. We can armchair how he is doing it all we want, but he is taking his time. Many juniors just throw a ton of money and drill-drill-drill without a real plan. A friend of mine worked for a junior on a project overseas and the project geologist showed up, pointed at 6 or so locations to drill and left. Meanwhile one of the locations was in the middle of a village, the other through a thrust belt. He was just instructed to drill and spend investors money so that they see that progress was being made!! This is NOT what Ken is doing.
Yet you can see the mentality - investors want the company to DRILL. Many here have the same problem. I see management taking their time to get it right. Unfortunately people are impatient and the PPS suffers on the short term.
I like his plan to increase the value of both KATX and KATG. And stepping back from KATG until it is free trading makes sense too. Why drill more when the PPS cannot benefit? IMO
WHEN MARKET MAKERS GET IT WRONG ((( SHARE HOLDERS WIN IT BIG ))) Here is a story of one small Mineral Company about to do just that! Sept. 6, 2010
(Analysis from BMB. Good stuff!)
http://current.com/news/92653163_when-market-makers-get-it-wrong-share-holders-win-it-big-here-is-a-story-of-one-small-mineral-company-about-to-do-just-that.htm
HERE IS HOW KATX.. "A SMALL MINING COMPANY".. WILL BREAK AWAY FROM KNOWN MM MANIPULATION "naked shorting of penny stocks " AND THE GROUPS WHO ARE ASSOCIATED WITH THEM. $$ COORDINATED MARKET MANIPULATION $$ .....ONCE IN A BLUE MOON A GREAT LITTLE COMPNY WILL GROW AT A ASTRONIMICAL RATE AND WILL DO EXACTLY THE **OPPOSITE** OF WHAT THE WALL ST. MARKET MAKERS THOUGHT !...".I own shares in a small mining company in Newfoundland Canada who has had a PHENOMENAL RISE IN IT'S PRICE SHARE ...KATX RAN FROM .001 IN NOVEMBER LAST YEAR TO 24 CENTS...(( 23900 % ))..A RECENT PULL BACK IS DIRECTLY RELATED TO " and yes I have proof ! " WHAT IS ABOUT TO HAPPEN IS THAT KATX IS MOVING TO A DIFFRENT "higher" EXCHANGE ...AKA ((( OFF THE PINK SHEETS ))) .........GO DOWN TO PART -3- WICH IS THE MOST IMPORTANT PART........>>Step 3. KATG submits a “friendly takeover” offer to shareholders to purchase KATC outright, which the KATC board of directors will recommend that shareholders accept. This offer will either be cash, shares of KATC
0 Bob_Nordberg
…continued from above....”””((((( THIS IS WHAT MAY BE THE ONLY PART WITCH RICK UK MAY HAVE HAD WRONG “I BELIEVE WE WILL RECEIVE CASH OR SHARES OR COMBANATION OF KATG…NOT C” ))))””” or a combination of both. As I understand it,............................Posted by: Rick-UK Date: Monday, July 26, 2010 6:00:04 AM .... http://www.katexploration.com/
In reply to: Rick-UK who wrote msg# 66416 Post # of 94265
Discussion: future relationship between KATG and KATC (medium to long term strategy discussion)
A little while ago KAT Exploration revealed its corporate restructuring plans in a flowchart which they posted in their website here: http://www.katexploration.com/Graphics/KATX-KATG%20Structure.pdf
In terms of the relationship between KATG and KATC the flowchart said the following:
KATX will continue to Trade on Pink Sheets and will be holding all of its high grade copper & other base metal properties and will eventually reverse merge into another OTC BB entity (i.e. KATC) on a 1 for 1 basis (if you have 1 share of KATX(Pink), you will get one share of KATC(OTC-BB)). KATC will be trading independently and will be a wholly owned subsidiary of KATG.
5 days ago flag reply 0 Bob_Nordberg
Let’s break that down into two parts.
Part 1: KATX will continue to Trade on Pink Sheets and will be holding all of its high grade copper & other base metal properties and will eventually reverse merge into another OTC BB entity (i.e. KATC) on a 1 for 1 basis (if you have 1 share of KATX(Pink), you will get one share of KATC(OTC-BB)).
What this is saying is that on the day of the reverse merger, the existing KATX shareholders will lose their KATX shares (which will cease to exist) and instead will have KATC shares (the new, OTC/BB company). The exchange will be on a “one-for-one” basis, so for every 100 KATX shares owned before the exchange you will end up with 100 KATC shares after the exchange. The new company KATC will presumably have the same O/S and so therefore shareholders will own the same percentage of the new company as they owned of the old company.
Part 2: KATC will be trading independently and will be a wholly owned subsidiary of KATG.
A “wholly owned subsidiary” is a company whose entire shareholding is held by another company (referred to as the “parent” company). The flowchart is therefore stating that KATG will own all of the shares of KATC. If you haven’t come across the term “wholly owned subsidiary” before, here are a couple of definitions that may help to clarify this:
www.investorglossary.com – “A company whose stock is entirely owned by another company.”
www.investorwords.com – “Subsidiary which is owned entirely by its holding company.”
5 days ago flag reply 0 Bob_Nordberg
….”””((((( THIS IS WHAT MAY BE THE ONLY PART WITCH RICK UK MAY HAVE HAD WRONG “I BELIEVE WE WILL RECEIVE CASH OR SHARES OR COMBANATION OF KATG…NOT C” ))))””” or a combination of both. As I understand it,............................Posted by: Rick-UK Date: Monday, July 26, 2010 6:00:04 AM .... http://www.katexploration.com/
In reply to: Rick-UK who wrote msg# 66416 Post # of 94265
Discussion: future relationship between KATG and KATC (medium to long term strategy discussion)
A little while ago KAT Exploration revealed its corporate restructuring plans in a flowchart which they posted in their website here: http://www.katexploration.com/Graphics/KATX-KATG%20Structure.pdf
In terms of the relationship between KATG and KATC the flowchart said the following:
KATX will continue to Trade on Pink Sheets and will be holding all of its high grade copper & other base metal properties and will eventually reverse merge into another OTC BB entity (i.e. KATC) on a 1 for 1 basis (if you have 1 share of KATX(Pink), you will get one share of KATC(OTC-BB)). KATC will be trading independently and will be a wholly owned subsidiary of KATG.
5 days ago flag reply 0 Bob_Nordberg
Let’s break that down into two parts.
Part 1: KATX will continue to Trade on Pink Sheets and will be holding all of its high grade copper & other base metal properties and will eventually reverse merge into another OTC BB entity (i.e. KATC) on a 1 for 1 basis (if you have 1 share of KATX(Pink), you will get one share of KATC(OTC-BB)).
What this is saying is that on the day of the reverse merger, the existing KATX shareholders will lose their KATX shares (which will cease to exist) and instead will have KATC shares (the new, OTC/BB company). The exchange will be on a “one-for-one” basis, so for every 100 KATX shares owned before the exchange you will end up with 100 KATC shares after the exchange. The new company KATC will presumably have the same O/S and so therefore shareholders will own the same percentage of the new company as they owned of the old company.
Part 2: KATC will be trading independently and will be a wholly owned subsidiary of KATG.
A “wholly owned subsidiary” is a company whose entire shareholding is held by another company (referred to as the “parent” company). The flowchart is therefore stating that KATG will own all of the shares of KATC. If you haven’t come across the term “wholly owned subsidiary” before, here are a couple of definitions that may help to clarify this:
www.investorglossary.com – “A company whose stock is entirely owned by another company.”
www.investorwords.com – “Subsidiary which is owned entirely by its holding company.”
5 days ago flag reply 0 Bob_Nordberg
So how can we KATX shareholders own any KATC shares whilst KATG own all of the KATC shares? The answer of course is that we can’t! So what is going to happen? I am convinced that whatever is planned will be great news for shareholders, and my assumption is that the “end game” is that KATG and KATC will be uplisted to the major exchanges in the fullness of time. But what I am less sure of is why KATG will own KATC as a wholly owned subsidiary.
Perhaps the flowchart is completely incorrect in its use of the term “wholly owned subsidiary”. Perhaps what they mean is not that KATG will own KATC, but that the board of directors will be the same in both cases, and the board of directors will be majority shareholders for both companies, giving them effective control of both companies.
Assuming they really do mean KATC will become a “wholly owned subsidiary” of KATG, below is one possible step by step process that would bring us to this position, with some ideas to why each step might be useful. I should point out that these are my own initial ideas not the company’s and as such could be completely wrong. At best they need refining. Anyone care to contribute with their own thoughts?
5 days ago flag reply 0 Bob_Nordberg
Step 1. An OTC/BB shell (a non-trading company which is already on OTC/BB, up to date with its financial records and ready to trade) called BVIG is purchased. Its name is changed to KAT Gold Holdings Corporation (KATG), Handcamp is transferred into it and KATX shareholders receive a “one-for-four” share distribution as compensation.
Why do this?
A. Handcamp gets moved into a separate, OTC/BB company which could attract a whole new bunch of investors – investors that would not necessarily be interested in pinksheets stocks and/or initial stage exploration where nothing is as yet proven on the properties, but who would be very interested in an OTC/BB company with more rigid financial reporting, a smaller O/S, a specific focus on gold and reduced risk through ownership of a property with an existing NI 43-101 report.
B. With the smaller O/S, the reduced risk and the beginnings of movement towards proven resources (and ultimately proven reserves) KATG can expect to achieve multiple dollar share prices more quickly. This means that KATG can expect to attain the sort of prices and price stability needed to move to the bigger boards – AMEX or NASDAQ for example.
C. With the ability to raise funds based upon NI 43-101 resources, KATG can now act as the financier for further purchases and for exploration and proving up of existing properties for both itself and for KATX.
5 days ago flag reply 0 Bob_Nordberg
Step 2. Another OTC/BB shell is purchased, ready for KATX to reverse merge into (just like BVIG was purchased for KATG). The shell company’s name is changed to KAT Copper Incorporated (KATC) and KATX reverse merges into KATC. KATX shareholders will lose their KATX shares and receive KATC shares on a “one-for-one” basis (ie KATC is owned by the previous KATX shareholders in the same proportion as KATX was owned).
Why do this?
A. Moving off the pinksheets market will provide more transparency and thus reduced risk to shareholders for KATC. This should in turn help to attract new investors, increase the share price and then maintain it at those higher prices.
B. Moving the remainder of the KAT Exploration group off pinksheets and onto OTC/BB will impact positively on KATG and will prepare the group for future plans to uplist to the big exchanges such as AMEX or NASDAQ for example.
C. This will be a great way to reward loyal investors by providing an above market value cash/shareholding payment for their KATX shares. It also ensures that no naked shorting is present at the time because all KATX shares will be handed in and exchanged for KATC shares
5 days ago flag reply 0 Bob_Nordberg
Step 3. KATG submits a “friendly takeover” offer to shareholders to purchase KATC outright, which the KATC board of directors will recommend that shareholders accept. This offer will either be cash, shares of KATC….”””((((( THIS IS WHAT MAY BE THE ONLY PART WITCH RICK UK MAY HAVE HAD WRONG “I BELIEVE WE WILL RECEIVE CASH OR SHARES OR COMBANATION OF KATG…NOT C” ))))””” or a combination of both. As I understand it, the law relating to takeovers ensure that the value of any offer must be at least equal to the highest price over the last three months. Usually the offer is higher than this because it also reflects the forward potential of the company. My guess is that it will be a generous offer so that KATX investors are well rewarded for their support of the company through its initial stages. We shareholders would therefore end up with a higher value than we previously had in KATG shares and/or cash. The shareholders will vote on the offer. As the majority shareholders of course, Ken and Tim Stead will have the deciding vote and they will vote yes. KATC will become wholly owned (ie all shares owned) by KATG, and is no longer publically traded.
Why do this?
Here is where I struggle to understand the strategy. What would be the point of doing all of going through all the pain and expense of buying an OTC shell for KATX to reverse merge into, and then immediately afterwards stop trading as a publically listed company to become a wholly owned subsidiary?
The answer might lie in the fact that as an OTC/BB company, KATC would already be fully up to date with all SEC financial reporting requirements and this reporting could be continued even though the company was no longer publically traded. When the time was then right for the next step – public flotation onto one of the big exchanges – the financial reporting would be in place for this to happen smoothly.
All genuine thoughts from others about the above are much welcomed......"THANK YOU RICK UK FOR PLACING IN WORDS WHAT WAS COMPLATED, BUT NOW IS NOT......Bob Nordberg
5 days ago flag reply 0 Bob_Nordberg
HERE IS A QUOTE FROM RICK UK's POST ON I-HUB " This will be a great way to reward loyal investors by providing an above market value cash/shareholding payment for their KATX shares. It also ensures that no naked shorting is present at the time because all KATX shares will be handed in and exchanged for KATC shares"...poster..JB..must have stated emphatically a thousand times that FINRA was ....(the final say) on the matter of naked shorting....this was done in the face of Congressional hearings on the matter...(WE KNOW FOR A FACT HE WAS MISTAKEN)....Let's go back in timeshall we ...last spring 2009 KATX opened up for trading at 20-25 cents "OPEN = PRIVATE COMPANY GOIN PUBLIC"....then the stock ran straight to 2.00 PER SHARE! ...(( IN THREE DAYS ))....then we know that KATX needed $ FINANCING $ and went to a group from (( VANCOVER )) .....and they financed KATX in a 504...504= shares witch can be sold freely v restricted witch can not be traded for a period of time....are you following so far?....KATX recived assurances that KATX shares were not going to be DUMPED ="sold right away" in to the market from the FINANCIERS....AKA "EVIL DOERS"....then after the CFO interview "promo campain advertisment" which the financers aka "CROOKS" paid for.... VANCOVER "HOWE ST. BOYS"....IN VANCOVER ARE FAMOUS FOR RIPPING OFF SHARE HOLDERS aka "the little guy" " KAT EXPLORATIN WILL NEVER REPEATE THIS FUNDING MISTAKE...and the Company has kept that promice by the way"
5 days ago flag reply 0 Bob_Nordberg
....Well the 504 "FUNDERS"...over a year ago ....DUMPED ALL THERE SHARES IN TO THE MARKET ALL AT THE SAME TIME !!!.... Then I believe they continued to short kat down down down to oblivion.....Thhe CEO and that of his family put there Holmes up and Moraged them.((( KAT RESCUED )))..Had they not done this the NAKED SHORTING would never hae to "cover" = buy back borrowed shares...((( NAKED means the shares were never borrowed)))...and then in NOVEMBER when KATX released the ((( PR HUGE ZAMBIAN COPPER FIND ))) on the Bonivista ((( LUCKY PROPERTYS))) ....then in DECEMBER Kat bought the (TWILIGHT PROPERTY)...now back then we were hoping to have enough $$ to Drill the Handcamp Gold property...also remember it was then that VALE surounded the ((( ENTIRE BONIVISTA LUCKY PROPERTYS)))..This act of VALE stepping in I believe was the (((KEY))) KATX had been artifically pushed down to .001 (ONE % OF ONE PENNY "giveme a break!" ...THEN THE ((( BIG ))) turnaround...and when I say Big ...I mean ((( BIG ))) KATX RAN ONE THOUSAND FIVE HUNDRED % PERCENT % DURING THE MONTH OF NOVEMBER LAST YEAR!!! ...THIS HUGE MOVE UP IN PRICE (( CAUGHT )) MARKET MAKERS OFF GUARD....((( DO MAY REMEMBER EARLY JANUARY LAST YRAR MM NIGHT ((( REFUESED TO SELL NEW POSITIONS IN KAT STOCK ""but only quietly in europe?" ))) ...I DONT FORGET ...I DONT FORGET ...I DONT FORGET ...I DONT FORGET.I DONT FORGET ...I DONT FORGET....BUT YOU MIGHT ...SO I WILL REMIND YOU BECAUSE "I HAVE THE (( PROOF ))....I HAVE MANY MANY MANY REASONS TO THINK KAT WAS ( CRIMINALY ) SHORTED...I WILL KEEP REMINDING YOU SO YOU DO NOT FORGET!... "you know like peral harbor and 911" ...up untill the point Kat was being PUSHED DOWN and then NAKED SHORTED OUT OF EXISTANCE BY THIS VANCOVER GROUP..."sorry guys evil plan did not work"....I BELIVE ( TWO ) POSTERS ON THIS KAT BOARD KNOW WHO THIS FUNDING GROUP/CROOKS FROM VANCOVER ARE ...AND BY THE LOOKS OF THERE POSTING SINCE NOVEMBER....AND STATED STEADFAST REFUSAL TO PURCHASE SHARES "NON SHAREHOLDERS"....ONE WENT FISHIN ....THE OTHER ONE ...NOT SO BRIGHT...IMO....CAN YOU SAY SQUEEEEEEEEEEEEESE COMMIN!!!!!!!!!!!!!!! .......: Rick-UK Date: Monday, July 26, 2010 6:00:04 AM
In reply to: Rick-UK who wrote msg# 66416 Post # of 94265 ....
5 days ago flag reply 0 Bob_Nordberg
----NOTE----( UNDER THE AREA WITCH STATES THE NUMBER OF COMMENTS ), THERE ARE THREE CHOICES.......IT SHOULD HAVE "OLDDEST" COMMENTS CHOSEN :).....display: newest | oldest | popular ........THE POST WILL READ MUCH BETTER FROM TOP TO BOTTOM ...Bird Man Bob
5 days ago flag reply 0 AbrahamS
The company Birdman Bob is writing about is indeed a mining company which is pregnant with quintuplets and no artificial insemination was introduced, asked for, or used. I also have many, many shares in it.
That company has 362 square kilometer in Newfoundland which is already famous anyway for its rich mineral deposits and precious metals.
One of the eight properties KATX owns there, is a mine known as Handcamp. Kat Exploration has already found surface gold there, and has trenched the area and has drilled 12 holes deep into the earth. Every single one of the 12 cores removed from the ground at Handcamp, has GOLD in it. Again, 12 out of 12 cores have GOLD. Therefore, we are not talking about rhetoric or rumors or implications. Straight up and truthful and FACT only, Kat Exploration has a gold mine now there. That's why I have bought and not sold hundreds of thousands of shares while I gladly await further drilling and different drilling at one of the other properties KATX owns there, known as Rusty Ridge.
Currently, the price is ridiculously low because the stock is still only listed on the pink sheets as a penny stock. Any friend of mine who sees my post, or a friend of Birdman Bob's, or anyone who simply notices a stock with huge upside, should grab what they can immediately.
Repeat, this is not a rumor or a trick post. This company has produced the cores from drilling just done last month. Now that it is on CURRENT, many new investors will smell the coffee.
Good luck to all.
5 days ago flag reply 0 Bob_Nordberg
LET ME SUMMERISE ...KAT WAS SHORTED.....NAKED SHORTED......AFTER THE SHORTING IN NOVEMBER...EVENTS HAPPEND THAT MADE KAT TAKE OFF.....BUT TAKE OFF WROM WHERE IT WAS AT....WILL BE NOTHING COMPARED TO WHERE IT IS GOING!! ...I BELIEVE KAT IS ABOUT TO COMPLETE IT'S STATED GOAL "TO UPLIST".....WHEN THAT HAPPENS THE WS MARKET WILL BE FORSED TO TURN IN ALL THEIR SHARES FOR NEW ONES ....AND IF YOU DONT HAVE WHAT YOU (( MUST )) RETURN ...IT MEANS THAT YOU HAVE TO ((( BUY THE SHARES )))) COMPETING WITH US FOR THOSE SHARES = KABOOM !!
4 days ago
WE GOOD!!!
Could it be JPM is preparing for a huge payout?
SANTA MONICA, Calif. (MarketWatch) -- This is a big story that deserves a lot more attention from the financial press: J.P. Morgan Chase & Co. announced that it is shutting down its proprietary trading operations. Goldman Sachs Group and the rest of Wall Street have or are in the in the process of following suit.
Proprietary trading accounts for as much as 15% of bank revenue. Considering that annual revenue at J.P. Morgan Chase (JPM 39.76, -0.34, -0.85%) alone is more than $100 billion, we are talking about nixing tens of billions of dollars from Wall Street firms' bottom lines.
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http://www.marketwatch.com/story/the-bank-story-no-one-is-talking-about-2010-09-10
"Orogenic lode gold deposits are situated along regional structures and the one that hosts Handcamp is certainly large. GSC airborne data patterns indicate that the structure may be associated with terrain boundaries and flexures on a regional scale."
http://www.katexploration.com/index.php?option=com_blog&view=comments&pid=14
I think this bears repeating:
From the latest PR,
Nine drill holes have been completed to date with all holes intersecting mineralization. Hole #7 tested the mineralized structure at 180 meters (612ft) down section and intersected mineralization over a width of 30 meters. This is extremely encouraging as we now know that, not only does the strike length of the mineralized structure continue for at least a minimum of 1400 meters and open at both ends, it has a minimum depth of 180 meters and also open at depth. With new mineralized structures being discovered to the west and far north, this increases the potential of the property significantly.
I believe I recall reading Ken saying a maximum of 6 weeks. Drilling began on 6 July, so that could be any day now. I think the delay is Ken waiting for settlement of the BVIG/KATG conversion prior to release of lab results.
I especially like this one:
Mr. Wigand and Mr. Jiampietro contend that the arrangement helps raise prices and eases the burden of managing billions of dollars of troubled assets, ultimately saving the insurance fund money. Critics say the terms are too generous to buyers, because the government is responsible for the bulk of the losses. Recently, as bidding has picked up, the agency has scaled back its most buyer-friendly arrangements.
Ken's waiting for KATG shares to be established prior to any announcements, IMO.
First 9 holes all had significant mineralization.
Anyone care to scour transcripts and find all the times the FDIC or jpm claimed to not know this information since DECEMBER 2009!
So does Fdic‘s defense that we (ec) didn’t object to firrea in a timely manner still hold true? The fdic lawyer says we don't have claims against them because it settled.(no they didn't)example. minute 41. examiner hearing.
If they Fdic never officially settled. There argument doesn’t hold water.
Calm before the storm..................and you can take that to the bank!
Couldn't agree more. Is what Ken is waiting for and all part of the grand plan, IMO.