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Why did cpa2002's message get deleted?
I believe the answer to this lies in what someone from Canada told me on another message board. I'm sorry, this is just hear say, but it makes sense: Only Canadian companies can hold mineral rights in Canada. Since CMKM Diamonds is a US company it cannot hold mineral claims. But Casavant's other companies, which are Canadian, CAN hold the claims for CMKM Diamonds.
Denis
I'm not sure if this will answer your questions about the ownership of the mineral claims. But this is taken from the Schedule 14C filing with the SEC from when Casavant Mining Kimberlite was originally created. The original mineral claims were held in 5 different companies and were contributed to CMKM. There were additional claims made later. But these are the originals:
Purpose and Effect of the Board of Directors Election
On November 25, 2002 the Company agreed to acquire the Casavant Family Mineral Claims in certain kimberlite deposits located in the Province of Saskatchewan, Canada. The Mineral Claims were held in the name of five companies owned directly and/or beneficially by the Casavant Family and Morgain Minerals, Inc. (a company held by third parties with the claims under option). These companies include Commando Holdings, Ltd., Buckshot Holdings, Ltd., 101010307 Saskatchewan Ltd., 101012190 Saskatchewan Ltd., and 101027101 Saskatchewan Ltd. In addition, Fort a la Corne Diamond Fields, Inc. acted as the claims and exploration manager for the five companies above, as well as, the claims held by Morgain Minerals, Inc. Each of these companies have agreed to transfer 100% of the Mineral Claims to the Company in accordance with the Mineral Disposition Regulations of Saskatchewan, 1986.
On October 28, 2002, Fort a la Corne Diamond Fields, Inc. completed a report on the five parcels of mineral claims held by Commando Holdings, Ltd., Buckshot Holdings, Ltd., 101010307 Saskatchewan Ltd., 101012190 Saskatchewan Ltd., and 101027101 Saskatchewan Ltd. The report also covered the claims of Morgain Minerals, Inc. All of the parcels were registered between March 2001 and March 2002 as listed in Table 1.
Table 1 (1)
Registered Owner Area(2) Due Date (3) Paid Cnd USDollar
Buckshot Holdings Ltd. (50%)
Commando Holdings Ltd. (50%)
78,177
March 2 and 9, 2003
$938,124
$614,037
101010307 Saskatchewan Ltd.
70,427
May 11, 2003
$845,124
$553,165
101012190 Saskatchewan Ltd.
81,568
August 16, 2003
$978,816
$640,629
101027101 Saskatchewan Ltd.
8,320
March 20, 2004
$ 99,840
$ 65,345
Morgain Minerals Inc. (4)
9,216
March 20, 2004
$110,592
$ 72,382
Total
247,708
$1,945,987
(1) Table 1 was prepared by P. Robershaw, P. Geo. for Fort a la Corne Diamond Fields, Inc. in connection with the properties.
(2) 1 hectare equals 2.46 acres with 247, 708 hectares equaling 609,361.68 acres.
(3) Based on U.S. Dollar/Canadian Dollar exchange rates, the amounts paid for the claims equals $1,945,987.00 USD as of January 30, 2002 exchange rates, but were valued at $2,000,000 USD on the date of the merger which is November 25, 2002.
(4) The claims of Morgain Minerals Inc. are under option, but are included.
The claims comprise a substantial and largely contiguous land position in a favorable exploration setting in the vicinity of the Fort a la Corne kimberlite bodies. In all, the properties consist of 636 claims with a total area of 247,708 hectares (611,625 acres). The 5 properties are located in central Saskatchewan within 100 kilometers of the City of Prince Albert and are largely accessible by road. Mineral dispositions in Saskatchewan are administered by the Saskatchewan Industry and Resources ("SIR"). The properties fall entirely within the surveyed portion of the Province of Saskatchewan.
In 2003, expenditures of $2,762,064 Cnd ($1,807,469 USD) will be required to retain the claims. In 2004 and subsequent years (until 2012) the required assessment expenditure will be $2,972,496 ($1,945,133 USD). After ten years, the annual expenditure on the claims increases to $25 Cnd ($16.36 USD) per hectare. Grouping of contiguous claims is allowed to a maximum block size of 10,000 hectares. Reports submitted to the SIR in support of assessment filings are retained on a confidential basis for three years, or until the claims lapse whichever is earlier.
Sorry, the table didn't copy very well, but you can find the complete text here:
http://www.sec.gov/Archives/edgar/data/1092299/000111776803000002/schedule.htm
Denis
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This just in..
From the CMKM Diamonds message forum, a message from Melvin:
morning folks)
Just got off the phone with Mr.C. and thought I would share his exitment with you folks.))
Trust me when I say there are "alot" of GOOD things that are about to happen to CMKX. things that I can't talk about at this time. i wish i could but i can't.
I have spoke many a time with Mr.C and I have NEVER
heard him in such a up-beat mood.
You have all heard the saying " were going to the moon" Well we may not be going to the moon just yet but let me tell you. the space ship is on the pad and fueled)
you all have a good weekend )
Melvin
Go easy on him, rlangmaid. He wasn't very nice to me on my first day here, either. But I've read your posts elsewhere and I think you could put a real hurtin' on him. Just throw him a Scooby Snack and he'll leave you alone. Better yet ignore him, as I do.
Den
Nice recovery! For a minute there I thought this had turned into a swingers board. LOL
6 million here
Bashers beware:
http://www.stockhouse.ca/bullboards/viewmessage.asp?no=7769063
It looks like some companies will hit back...
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Oops I meant when your passive income exceeds your expenses. Sorry. 8^)
Buy Real Estate! Turn that portfolio and earned income into passive income. When your passive income exceeds your assets you're free for life.
That's my goal!
Yes. I did it through Fidelity and I can see the shares in my account.
I just had a buy for 3M shares at .0001 go through in about 30 seconds. Does that seem odd to anyone else?
I'm seeing 91,000,000 on Scottrade, also
Denis
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That's believed to have been a fluke or some kind of bizarre event. For the past year MM's have not allowed us to sell our shares for more than .0001. This isn't a stock to turn over quickly. If you want to join this party be prepared to hold on for the long term.
I think there is some hope for CMKM Diamonds. But I don't believe anything big will happen in the short term. I have been holding and accumulating for 3 years. Fortunately, I am holding it in my retirement SEP-IRA. I'm in for the long haul...
Some systems won't let you place a market order on pennies. I know Scottrade won't accept market orders for shares under $1. I don't think it is strange though that you order is not going through. The MM's control the trading. They don't have to rush to fill your order. However, I have seen other people put in trades, then get them filled later in the day. Have patience, if you really want to sell, they will probably sell within a day or two.
Look at that... out of the gate at .0002! It's a beautiful thing.
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My order to sell 3M shares for $2 per share is still intact.
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Casavant International Mining isn't a public company. Before you can sell your shares they will have to go public or merge with another public company. The plan is for the company to merge with MRDR, then you would be able to trade their shares. But the merger is on hold for the moment while Casavant concentrates on the CMKX situation. In other words...the drama continues.
Denis
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The spinout was Casavant Mining, the zinc company. If you sold you CyberMark than you are not in CMKX.
I'm still trying to understand, how is it illegal?
Thanks for the input. I'm trying to consider all sides.
Denis
There's a lot of talk on the CMKM forum (www.casavantmining.com) about setting a sell price at $2/share to tie up shares so the MM's can't count them in the float used for shorting. Does anyone know anything about this? Could a general shareholder movement like this actually have any affect?
I'd like to get a little more info before joining in on a seemingly futile effort. Thanks,
Denis
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Is anyone else having trouble with Scottrader; it seems to be having problems.
Denis
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I have been buying CMKX through Fidelity for several years now. But the commission is a bit stiff: $37.95
Den
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You are right, I should have used a "*". In a reverse split the number of shares is divided and the share prices is multiplied by the factor.
No joke, but here's a good one for you:
Since we know that a 10:1 and a 2:1 forward split have been done it the past. What do you suppose the share price would be if they were both reversed right now?
.0002 / 20 = .001
Look like any funny car logos you've seen recently?
Hi Sub,
No reverse splits since I have held them. But I am wondering, given the two forward splits that I have mentioned it doesn't seem that a reverse split would be quite as bad as I initially thought.
I was going to make a bunch of assumptions and ask your opinion, but I just deleted them all. Call me gun-shy. I hope the info I've given you has been helpful
Den
Sub,
I just look back at my trading history. I was a bit off with my guestimate earlier. The split history for CMKM since the sale of CMKI is as follows:
8/16/2001 10:1 split
10/9/2003 2:1 split
The first split wasn't as big as I had thought, sorry about that.
Den
Well...so much for civility. I'll keep my opinions to myself. Thanks.
Too bad the last message was deleted... I had a nice comeback...
I doubt if we will hear anything about outstanding shares until UC has finished his latest play. No one really knows if he has finished retiring shares and he is probably waiting until the new law takes effect tomorrow. Why tip his hand when he can keep the OS a mystery and really screw the naked short sellers? In addition, by revealing the OS it would allow his competitors to calculate how much they would need to buy to gain a controlling interest in the company, if one exists. The best thing that he can do now is keep a poker face and wait for the right time to play his "hole card".
Of course this is only speculation, your mileage may vary. Tax, title, and license are extra. See your dealer for details. Don't pay any attention to any forward or backward thinking statements made, as all statements are meaningless.
Keep smiling.
Den
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It will really hold things up if the short MMs sue for a recount...
LOL
You know as I think of it, I will have to recheck my numbers at home. The math I just gave you doesn't add up. What I thought was 10000:1 would actually be 1000:1. I might be mistaken. I'll look it up tonight.
Denis
To be honest I don't recall, all of my records are at home and I am at work right now. I think it was around the end of 2001. It was when Casavant bought Cybermark and the symbol changed from CMKI to CMKM. I had 20 shares of CMKI that I bought for $5 per share. I figured I would start dabbling with a virtual reality company that had just gotten a government contract to provide virtual reality simulations for battle senarios. Seem safe enough.
Next thing I knew I had 20000 shares at .0014. It quickly deteriorated to .0007, then to it's current position of .0001.
I think you know the rest...
Denis
Sublime, that was actually the second split. The first split was just around the time that Casavant bought CyberMark. I was a CyberMark shareholder. I have been here from the beginning.
Denis
One of the earlier forward splits on this stock, to get it where it is today, was a 10000:1 split. It is very conceivable that the reverse could happen to put it back where it was when it started.
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Why has trading stopped? Scottrade has CMKX blanked out...
Gotcha, I was just going by the last price on Scottrader. Thanx
Well it was nice while it lasted...
We just went back down to .0001
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Well that explains a lot! Thanks.
I've been under the impression all along that CMIH was Casavant Mining, Inc. I could have sworn I saw that posted somewhere. I couldn't figure out why Fidelity only had a cusip listed in my account for my Casavant Mining holdings.