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Actually, there are 20 million people in Ghana but the per capita per person is 600 dollars per year. The average man cannot even afford condoms nor the time to mud dig. There are 40,000 Galamseys(illegal miners) that mud dig and mini mine in Ghana every day. So, yes, there is gold in Ghana, but the license is a joke and the attempt by this board to paint it as something huge or expensive is misleading.
I also believe the list of fees you showed are for mining companies and not necessarily to buy and sell gold. The fact is that many mining concerns have this license too. Most though are individuals that scour the mud pits and trade on the spot. Many buy gold from illegal miners. Ghana officials actually like this as it stops for the illegal exportation of gold and allows them to control the market better.
Ghana though is growing and the GDP this year is going to be better. More people are going into the oil business and also forestation as that is proven to pay as opposed to gold mud digging where the pay is smaller and only bonuses( large) paid if gold is found.
Thank you for confirming what i said.
He paid:
1) $50. dollars for the application
2). $200. for the processing fee
3). $1200. for the junior miner fee license.
Of course you may argue that EMLL has 3 plots and some are not(?) sand/gravel. Even so at most then( I would disagree) the fee would be between 5 and 10 thousand dollars.
This(EMLL) is a foreign company doing business with a Ghana partner.
This comes from the official site of the PMMC which licenses all gold and diamond buyers in Ghana. I have confirmed several facts with the commission office there in Accra and anyone can do the same as they provide email access and return emails. Only diamond buyers face costly processing and there are only a handful of them. As for getting a license to buy or trade gold , you have to be joking. They have given out 750 of them to every Tom, Dick and Harry and KhooKhooMahn who have a shovel and a bag who wants them. Here is the quote.
Gold Small Scale
PRODUCTION AND MARKETING
In 1989 when the Government of Ghana regularised small-scale gold mining operations in the country, it was estimated that about 60,000 to 80,000 ounces of gold hitherto produced by Small Scale miners were smuggled out of the country annually.
An initiative was taken in April 1989 when PMMC was charged with the responsibility of promoting small scale gold mining in the country as well as purchasing all the gold produced. PMMC has since purchased about 600,000 ounces of gold worth US$200 million under the small-scale mining sector.
The Company has licensed about 750 local Gold Buyers who operate in mining communities in the country to purchase gold. The buyers in turn sell the gold to the Company at its Head Office in Accra or its branch office in Tarkwa. PMMC has agencies in Kumasi, Bolgatanga and Wa, which serve as buying centres for those localities. PMMC has thus succeeded in sending the market to the doorstep of the producer to minimise smuggling.
The following was reported by pinksheets.com as of January 15, 2011.
Dec 31, 2010 EMLL
El Maniel International, Inc. Old Tier Status---OTCQB
New Tier Status--OTC Pink Limited
This means that we voluntarily dropped our intent to file the annual report as we missed the last extension for September 30, 2011 10K.
I called the SEC, FINRA and OTCBB and they confirmed this as fact.
Having this Smetana accountant in Brooklyn put out something will not divert the financial annual report that we were promised.
The following was reported by pinksheets.com as of January 15, 2011.
Dec 31, 2010 EMLL
El Maniel International, Inc. Old Tier Status---OTCQB
New Tier Status--OTC Pink Limited
This means that we voluntarily dropped our intent to file the annual report as we missed the last extension for September 30, 2011 10K.
I called the SEC, FINRA and OTCBB and they confirmed this as fact.
The following is a cut and paste from the September 10Q of EMLL::
My reasoning that David Price claims that EMLL does not own the stamps is that it is completely impossible to admit that you paid 10 thousand dollars for a 4 million dollar stamp collection, then state it publicly in news releases, then have your own auditor state it is worth ( all of it-not just 70% of it) at most 25 thousand dollars without having the venture partner go bananas. EMLL obviously screwed that partner and used on one hand a 10 thousand dollar investment for a 4 million dollar news release( then dumped maybe at that time 300 to 400 thousand dollars worth of free trading paper-great deal for Khoo). How Khoo protected himself was that his own auditor states that asset is worth 25 thousand dollars so the news releases and OUR BOARD( see the top of this home page) is completely misleading. If this is not true then why have we not had any information on anything sold as to stamps? if Khoo knows this already then he needs to redirect and divert this issue now. Drop it. We are a gold company. Do not relate emails regarding this issue again as this will get us into areas we do not need to be in.
The same goes for the oil terminal. There is no way EMLL has 1 million dollars to give them. Khoo will not give them anything as after all he sold 1.5 mil net. It is not like he sold 15 million dollars in a pump and dump. To be fair , he needs the money to pay for news letters( I agree here with S...R...) and for gold mining. I would just stop talking about these 'deals' before they cause us problems. All we need to do is be that junior gold miner we claim to be and just stop asking Khoo about other matters.
NOTE 2 FOREIGN STAMP COLLECTION HELD FOR SALE
The foreign stamp collection was acquired pursuant to a Joint Venture Agreement dated April 30, 2010 with Funds Hunters LLC (“FH”). Among other things, the Joint Venture Agreement provided that FH assign its foreign stamp collection (all stamps were issued by states of Aden) to a new corporation (EMLL Dynamic Ltd. was formed May 19, 2010 for this purpose) in exchange for the Company’s cash payment to FH of $10,000 (paid by June 30, 2010), the Company’s issuance of 1,000,000 restricted shares of common stock to FH in pari passu (issued June 10, 2010), and 30% ownership of the new corporation ( EMLL Dynamics Ltd.) by FH. At June 30, 2010, the carrying value of the foreign stamp collection held for sale was calculated as follows:
Cash payment to FH $ 10,000
Fair value of 1,000,000 restricted shares of
Company common stock issued to FH 5,000
Total consideration for 70% of foreign stamp
collection held for sale 15,000
Fair value attributable to 100% of foreign
stamp collection held for sale $ 21,429
10
________________________________________
NOTE 3 DEPOSIT RELATING TO ACQUISITION OF PROPERTY AND EQUIPMENT OF IDLE OIL TERMINAL FACILITY
On July 1, 2010, EMLL Energy Ltd. closed on the acquisition of property and equipment of an idle oil terminal facility located in Luzerne County, Pennsylvania pursuant to a Sales Agreement dated May 26, 2010 with JFK Petroleum Inc. (“JFK”). Among other things, the Sales Agreement provided that JFK assign its deed to the property (EMLL Energy Ltd. was formed June 1, 2010 to receive the deed) in exchange for the Company’s cash payments to the owner of JFK totaling $50,000 ($15,225 paid through June 30, 2010, $34,775 paid thereafter) and the Company’s issuance of 1,000,000 restricted shares of common stock to the owner of JFK (not issued to date) with a committed buyback of $1.00 per share (or $1,000,000 total), at the owner of JFK’s option, one year after issue date.
I am amused at the answer.
My question would have been why you and others found this stock to be of interest. The reason I bought some EMLL was that I saw so many people buying into the story that I only assumed that the CEO was spending a sufficient amount of money on paid news letters to promote it. I have seen EMLL in so many news letters and twits and emails that I have to believe he has the ability to move the pps at any time even after dumping billion sof shares.
Can you private message me regarding some questions related to this stock? Thank you.
I forgot that ENTI is also a Gerrard Hollister stock too.
at 3:49 pm EST ETMM went on the ASK.
So what changed your mind?
It is very interesting how SRE* and others are consistently mentioned on the EMLL boards as those that have shareholders that will 'come here when they are finished there'. Gerrard Hollister quit this company and he PR'd SREH and EMLL. I am sure he has now downplayed us for reasons that are obvious.
I have already spoke to people who went and know Plot A,B and C.
Anyone can make any deal for nothing there and say anything they want.
Another MM on the ASK means that Khoo is spreading his sales amongst several MM's. When the bulk of the 3 billion shares are distributed he will have the gold story out and walk. That is the game.
with over 2 billion shares in the float we need a huge amount of money from newbies to take this to 8 or .
43-101 will never happen and we all know it. Gold buyers license is a major joke. Ever wonder what it costs to get such a license? Nothing. Another worthless diversion into the marketing of the Ofin River potential . The odds that gold is found is 1% and the other SNEY type junior 'miners' are all being investigated by the SEC.
The annual report that the auditor is late on and the time has passed wil never emerge and this management is a one shop pony named Khoo. Has anyone ever checks out the Stuart.... University in Australia. Is this another Diploma paper mill?
OK, again you make a statement that "if this was a legit company" as if there is one such animal in the pinks. Of course it is not but we are all here. This is about image not content. We want movie stars not actors that can act.
So, to help in the stage acting training I suggest that you call one of your frinds in Ghana and ask them to make some inquiries. Start by reading the news releases again. Anyone there can easily confirm Biochemists map of Plot C and maybe recall the mining offices in the Plot A,B, C, areas as well. This type of DD is more important in this Board than all the pretty maps and BS 100 pumpers( and bashers) can state. You want to add to this discussion( now debate) as a true Ghanian interested in promoting a company that can help make us all money, not to mention the taxes it gives Ghana on profits that help your countrymen.
mining??LOL
This is mud digging in the Ofin. No exploration will ever take place in Plot A and B. That takes money. Money that EMLL does not want to spend but rather dump 1.4 million dollars worth of paper and then tell us that they are hoping for 2 million dollars from Unibank which we all know will never loan money to a junior mining company with no history. As is, Unibank does have 100 such BS applications from others there( see Biochemists map). This is valuable only as to news releases and I am sure for legal purposes EMLL actually put in an application too.
Look at the fundamentals and money spent on equiptment and management of those 4 befoare making comparisons. Then look at the quality of PR and image and credibility they created. Does not matter if they( or for that matter we) are liars. It is the image that attracts newbies. I bet that even after EMLL 'discovers' gold the stock will move up modestly( no complaint even at a 3 bagger from here). This is what happens when greed of insider takes a float to 50% of the OS in 4 months and changes business monthly.
We still have a good chance of 3 bagger and maybe 10 bagger if newbies come in after people forgot, and that takes time so waiting another couple months is a probability before serious news( nugget found kind of stuff) becomes realistic. No one would believe that we found any sort of gold in next 2 months so we need again to make this look authentic. Anyone who thinks I am suggesting Company is or should do a scam is wrong. This is image. I would in fact suggest to wait a month AFTER EMLL finds gold if they found it today. Understand?
Why two NYC addresses and phone numbers? Both are BS.
The second one was just put on by a genius moderator in here and will now cause the regulators more to work themselves up on.
Guys, stop the BS. It will only hurt us long term.
Neither addresses are related to El Maniel or any of its business.
I seriously would not suggest you get people to send letters to those addresses or you will get 1 billion shares dumped in our faces.
All of a sudden Khoo answers your email but no one else. Only Hollister would answer anyone and that only on occassion. So this will only harm us.
Stop now.
I am very satisfied to own this for the past few days. I already have doubled and expect much more. I attempted to start my junior gold play with EMLL but thankfully traded out of that stock days ago. Some there advised to look at this stock and I am glad I did. This has real potential and decent management in two attractive areas with real communication and news releases. The dilution that management in the other stock was incredible and it is pathetic how some managements can fool shareholders. Good potential companies like SNEY need to be pushed more as an investment. I considered stervc and balamidas research first.
On August 3, 2010, the Company executed a Wrap-Around Agreement with its chief executive officer and Epic Worldwide, Inc. (“EWI”). Pursuant to the agreement, the Company issued EWI a promissory note in the amount of $1,200,000 in exchange for EWI’s assumption of certain amounts due the Company’s chief executive officer. The promissory note bears interest at 15% commencing October 3, 2010, is due August 3, 2011, and is convertible at the option of EWI in whole or in part into shares of Company common stock at a price per share equal to a “50% discount of the average three deep bid on the day of conversion”. On August 3, 2010, August 13, 2010, August 19, 2010, and September 7, 2010, the Company issued 200,000,000 shares each day (800,000,000 shares total) of its common stock to EWI pursuant to EWI conversion notices reducing the promissory note balance by $40,000, $40,000, $60,000, and $50,000, respectively ($190,000 total).
The above is from the June 30, 2010 quarterly report in answer to your question. Based upon the dates and closely watched dilution during those days from the initial 96 million shares OS and 24 million share float and Khoo admittance of 800 million shares sold into market( not the 2 bilion restricted) we say and see that as of September 15 he sold 800 million shares and retired $190,000. of the $1.2 million dollars he claims is due( although that in itself sounds so crooked to start with). He therefor has over 1 million dollars to convert at similar ratios at lower pps. That my friend is 800 million multiplied MANYFOLD. My calculations are between 10 and fifteen billion shares. The only reason he wont is either the authorized is only 5 billion( I am laughing now) or that the face blushers in here now would say " how can the Khoo man give up his 50.1% control"??- I am on the floor in hysterics now over the false values given in here by so many, even when the NEW accountant says the asset values in the last 10Q is worthless-maybe 50 thousand dollars in total.
The above is 100% fact.
As for the gold please realize that the Khoo man has sold a massive chunk of paper at these prices and there will always be someone saying even that is positive. After all is he not giving it to the company to dredge mud for gold or paint thing's or lick glued stamps.
I , too, have called various Ghana offices and I am not going to repeat what every single person in here had an obligation to do. The average pay per year for a mud digger is $500.
So, how many bananas does it take to get someone in 'that' office to have said the 'right' thing?
BUT THIS TIME we saw what the street and even Khoo thinks of us.
I own million at 5 and I want out at a double but only saw 9. So, I hold like the rest of you.
No shorts bub, just all dilution and suckers.
wait a second. First we dilute then we find gold. lol
100% correct
So then you now PROVED that all these fools in here screaming 892 million shares was a lie. At least he unlocked the TA to talk to you. I and 2 others in here have been stating loudly that the float was 1.5 billion minimum and we were 100% right to the 10 million mark.
Don't go near this POS, worst scam in the pinks.;
You can make s...t look green. This was maybe the worst trading dauy I have seen in 25 years in any stock waiting for news. khoo could not even wait one day without diluting on a BS news release.
The fools in here cannot get a break and bought at 8 and 9 when Khoo was dumping big. LMAO
SUCKER!!!!!!!!!!!!!!!!
How pitiful and I guess you think Khoo did not just set you all up with another 100 million shares dump at maybe .0008 today( read $80,000) and all it cost him was another BS news item at $500. per pop.
I am on the floor in tears laughing.
SUCKERS!!!!!!!!!!!!!!!!!!!!!!!!
Thanks. I went with your pick at 8( missed the 6) and glad I did.
Even the stupidest Galamsey operations in the Golden Triangle are making youtube vidoes at their site. But not us. Not EMLL. Go to youtube and check out alluvial mining in Ghana or add your own DD there. At least 100 sites, mostly small. None making money. Even though they have been doing this for at least 2 years at Ghana mini costs. As Khoo has no equipment what do we expect?
The float is over 1.5 billion. To buy at 6 you need 1 million dollars. As the shareholders wont sell all of it to you you need to call Khoo. He will gladly oblige.
CORRECT. Invest in real gold companies not wannabes that mimic. The definition of a scam is mimicry. The 'ambitions' of our company is greed not discovery.