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SHAREHOLDER UPDATE
September 28, 2007
Dear Shareholders:
Weekly, from July 10, 2007 to date, we have posted answers to the most commonly asked questions posed by shareholders. We have also provided a “link” to the American Registrar & Transfer Co. website to assist our shareholders in answering questions relating to topics such as lost certificates, registration, etc.
We trust that the Question and Answer Forum on the Company website has assisted you in following the activities of Medinah Minerals, Inc. We will continue this process on an every 2-week basis unless it is deemed that an immediate answer is essential to clarify a specific matter for our shareholders.
As previously disclosed, Company Management has been negotiating a Joint Venture (JV)/Sale/Production Holding deal specific to the Alto de Lipangue property with a long list of major mining companies. It should be noted that several of the entities have initiated terms and conditions sheets as a precedent to final offers of purchase or Joint Venture.
The final list of interested parties has been narrowed down to those that Management feels have demonstrated “real” intentions towards the project that best reflects the common goals and interests of Medinah Minerals, Inc., and its' shareholders.
Management has mandated that the final preferred list of companies’ present formal offers that involves the final level towards closing. A formal offer is one that if agreed to and signed by Medinah Management, is binding upon the other party.
Management has researched the best strategy regarding the tax treatment of each of the proposed final transactions. This action by Company Management is an integral aspect in constructing an advantageous Business Agreement. Poor tax planning will inherently create negative costs for the project. Company Management is actively conferring with tax experts to base the most plausible strategy going forward. Taxes for production, production JV or outright sales are complex and treated differently. This is the final step forward toward the completion of a Business Agreement for the Alto de Lipangue project.
Les Price
CEO
Thank you slice8, you are right. I should not have started a tiff with oilgeek.
Oilgek, if you are not Robert Yeggy, my second speculative guess would be that you are the other guy in the picture from the newspaper article. Nestor Voychishchin.
Are you Nestor?
PS. Been looking at the facts for over 3 years.
Agreed PC, for every barrel of oil that is produced by a refinery, there is a certain pecentage of "fresh" sludge that does not fit into oilgeek's description (unless he has new research that he did this weekend to dispute that fact). I have always contended that one day, Strat will have sludge processing equipment directly hooked up to the sludge output spout at the refinery itself.
"I have not seen where the Russian Accademy of Science claims this stuff is valuable for anything and you have not either."
The fact remains that the Russian Accademy of Science is working with Strat and Strat is working with Planet Resources Recovery Inc. and not with Robert Yeggy's defunct company. MY POINT... Strat recovers and moves on with the business of building a company. They will succeed and none of your technical jargon can sway a long term investor who knows the upside potential of this company.
You are probably Robert Yeggy himself. Now that would make total sense.
Well, are you?
PC, if you continue to follow the bouncing ball by reading all of OILGEEK's posts, he introduces himself as an educated oil guy with experience and knowledge about Russia. But everything he posts is very negative against what Sam and Strat are attempting to do despite the fact that Sam has met with government officials and executives at Rosneft etc. So I ask myself, "Gee, I wonder why Sam would be wasting his time with those types of scoundrels who have the power and resources to help Strat reach it's goals"?. Sounds to me like OILGEEK is attempting to influence us against investing in Strat. What do you think.
I hear you PC. My sense with Sam is that if something was to fall through we would probably never hear about it. My sense is that there would be a period of silence followed by an announcement moving the company futher along. Here is a good example:
A previous PR talked about Strat dealing with a U.S. chemical company that had proprietary technology to process the sludge. Within the same time frame, there was also a Russian newspaper article stating that Strat was in Russia with some "Chemical Guys" to test out a chemical process. One of the names associated with the process stated in the article was Robert Yeggy. Further research tied Yeggy to a U.S. chemical company that appears now to be defunct. Then 9 or 10 months later there was a PR introducing the chemical company "Planet Resources Recovery Inc." which is very active in the oil remediation field.
I am only speculating, however, I would guess that the company Robert Yeggy was associated with did not end up being the company of choice otherwise Strat would have stated that in a PR because they did eventually introduce Planet Resources Recovery Inc. as their company of choice. Research into this company indicates that Robert Yeggy is not employed by them. So, if in fact the work with Robert Yeggy and his company fell through for whatever reason, Sam has diligently taken the time required to replace that requirement.
Oilgeek is a perfect example of what I just stated:
"Unfortunately, many posters, due to their impatience stand up and take their own prerogative to "state otherwise". Then, because the rest of the board is so desperate for information (truth), they follow that poster down a path that is speculative and end up in doubt and fear and then blame Sam that his "actions" are stating otherwise."
When Oilgeek first joined the board, he claimed he was an educated "chemical guy". Now he claims to have done some research to show what a bad investement we are in. It seems to me that he should have picked up that information in one of his first year oil chemistry classes and warned Sam about this downside years ago. Well I guess the educated "chemical guys" down at the Russian Academy of Sciences don't know what they are talking about and we should rather listen to oilgeek.
PC, one of the things that I have come to know about Sam is that when he makes a statement about the company or about what he is trying to accomplish, as far as he is concerned, his statement is true and will remain true until HE states otherwise. Unfortunately, many posters, due to their impatience stand up and take their own prerogative to "state otherwise". Then, because the rest of the board is so desperate for information (truth), they follow that poster down a path that is speculative and end up in doubt and fear and then blame Sam that his "actions" are stating otherwise. Also, when another company, broker or other business entity makes a public statement about Sam or the company itself, no one should assume that Sam or the company has given their legal approval to do so. We live in a country of free speech, however, that does not make unsolicited statements true. Sam is one of those people who does not feel the need to defend anything that he has stated he is doing just because people refuse to take him at his word.
EIK, I have been speaking with Sam on a regular basis for over 3 years now, obviously not as often as others on this board, and I have been at both their Toronto and New York offices. Every time I have spoken with Sam he has re-iterated many of the statements that are documented in the company's business plan posted on their web site. He is just as frustrated with the delays as the rest of us but he is still working towards the goals that have been publically stated. For those who need a reality check, Sam regularily faces risks, however, he manages to work through and around them but it takes time AND silence.
"Risk is always present when there is something very large at stake." -- luckylong 2007
PS. With the amount I have invested in Strat I never guess. As long as Sam is staying the course, I will stay the course.
PC, I spoke with Sam 3 weeks ago and asked that exact question. Evidently, due to the large scale--i.e., upside potential, of the deals that are presently being negotiated, all parties involved are bound by very tight non-disclosure agreements due to the levels of corruption that can be encountered when doing business in Russia. Ask any of the true longs on this board and they will tell you that "silence is golden", so when things are quiet, it does not mean that the company has disappeared, it means that the company is silent for a REALLY GOOD REASON. Check out the business plan on Strat's web site. There is an interesting description about the risks of doing business in Russia. The longs that are still here after 3 years understand that Strat has had to manage it's share of these risks and is still moving forward with it's business plan against all odds. Long and strong.
HOUSTON, Texas, Sep 27, 2007 (BUSINESS WIRE) -- Planet Resource Recovery, Inc. (PINK SHEETS: PRRY), developer, manufacturer and marketer of the PetroLuxus(TM) family of products, is pleased to announce that it has received its first orders for PetroLuxus(TM) MMMF from its recently launched Enhanced Oil Recovery (EOR) Program. The first orders are valued at $46,150.00 and will treat fifteen marginal wells in Kansas and Oklahoma. Treatment of the identified wells is scheduled to commence in the next two weeks.
MP2007 is open for posting (eom)
CMM, I have known Sam for over 3 years and he has always closed HQ on orthodox observations which have work restrictions.
Mike, thank you for your support and understanding.
Strat HQ will be closed on:
Thu-Fri Sep 27-28 the first two days of Sukkot
Thu-Fri Oct 4-5 the last two days of Sukkot
Mike, are you going to comment on:
a) "something happening at the "beginning" of next week."
b) "changing the MP 2007 board to get rid of annonymous posting"
Pink Sheet: JMCP, Sep 17, 2007 (M2 PRESSWIRE via COMTEX) -- Frank Love, President of James Monroe Capital Corp. (Pink Sheet: JMCP), and CEO of JMCP Acquisitions Corp Frank Love is pleased to announce, "A twofold strategy to add value to its long-term shareholders." Company president Frank Love said, "A reverse triangular merge will take effect between the subsidiary JMCP Acquisitions Corp. and another publicly traded corporation.
http://www.investopedia.com/terms/r/rtm.asp
A Reverse Triangular Merger happens when the subsidiary of the acquiring corporation merges with the target firm. In this case, the subsidiary's equity merges with the target firm's stock. As a result of the merger, the target would become a wholly-owned subsidiary of the acquirer and shareholders of the target would get shares of the acquirer.
Strat web site
is down. I can only hope that it's getting a face lift.
SPQ.V is alive... NEWS
Spider Resources Inc. and UC Resources Ltd.
intersect 4.35% Zn, 2.69% Cu, 0.35 g/t Au and 6.63 g/t Ag
over 19 metres at VMS project in Northern Ontario
September 5, 2007 – Toronto, Ontario – Spider Resources Inc. ("Spider") (TSXV: SPQ), and UC Resources Ltd. (“UC”) (TSXV: UC). Spider Resources (the “Company”) and UC are pleased to announce the receipt of assays from a diamond drilling program at the McFauld’s Lake volcanic-hosted massive sulphide ("VMS") project, located in northern Ontario in the James Bay Lowlands. Hole McF-07-75 and McF-07-76 as previously announced (August 30, 2007) encountered massive sulphide mineralization containing appreciable chalcopyrite and sphalerite.
Drill hole McF-07-75 was set up on line 8+25 N and the initial dip was -64 degrees for a total length of 192 meters. The hole was designed to overcut historic 2004 hole McF-04-41 (6.49% Cu and 3.45% Zn over 8 meters) and infill an area in the mineralized zone that had not been previously tested, as required for an update on the resource estimate for this occurrence. The main mineralized zone was encountered between 164.28 meters and 183.3 meters (19.02 meters). This entire section averaged 0.35 g/t Au, 6.63 g/t Ag, 2.69% Cu and 4.35% Zn over 19.02 meters.
Drill hole McF-07-76 was started at the same set up as hole McF-07-75, however the dip was decreased to -49 degrees, thus testing another area as required for resource estimate update. The hole was completed a total core length of 178 meters. The main mineralized zone was encountered between 154 meters and 161.5 meters (7.5 meters), previously reported as from 152.66 meters and 160.13 meters (7.47 meters), however there was a drill hole measurement error caught during detail logging and sampling. This entire section averaged 0.22 g/t Au, 7.47 g/t Ag, 1.8% Cu and 3.3% Zn over 7.5 meters. In this hole copper values were higher near the top of the mineralized zone where from 154 meters to 159.21 meters (5.21 meters) the copper value average 2.49%. Gradationally below this, from 157 meters to 161.5 meters the zinc value averaged 4.64%.
Drill hole McF-07-73 was set up on section 7+75 E (Grid “C” McFaulds #3 occurrence) and drilled grid south at – 69 degrees for 374 meters. The main mineralized zone was encountered between 329 meters and 345.2 meters, consisting of heavily chloritized magnetite – pyrite zone, with trace sphalerite (zinc sulphide) and trace chalcopyrite (copper sulphide), only anomalous assay values of zinc and copper were received. This hole, although it entered the VMS mineralized envelope, will help to delineate the limits of this VMS occurrence in this portion of the body.
As reported earlier, drill hole McF-07-74 was set up on Line 8+00 E at 2+92 N with an initial dip of 80 degrees, designed to undercut Hole McF-04-57 that had intersected 8% Cu over 18 meters, as well as hole McF-04-29 (4.39 % Cu over 2.5m). The drilling of hole McF-07-74 encountered problems early, at the interface between the overlying Paleozoic (limestone and sandstone) with the volcanic rocks, the hole flattened from 80 degrees to 43 degrees, causing this hole to be abandoned at 154 meters. There were no samples selected from this hole.
A total of 2,354 meters has been drilled in 7 holes, results have been received for the first 4 holes only. The on-site field aspects of the project were overseen by Dr. Howard Lahti P.Geo., an Independent Qualified Person and Mike Kilbourne, both of which are in the employ of Billiken Management Services Inc. of Toronto.
All samples reported upon herein were selected by either Howard Lahti or Mike Kilbourne and were cut in half by diamond core saw. Individual samples were labeled, placed and sealed in plastic sample bags. Groups of samples were then placed into durable rice bags that were secured by project security tags and then placed into plastic pails for shipping. Plastic pails were secured using tie locks and delivered via bonded carrier to ALS Chemex sample preparation laboratory in Thunder Bay, Ontario. All samples were then crushed and pulverized, then sample pulps were sent to ALS Chemex Laboratory in Vancouver B.C. for analysis, remaining coarse reject portion of the samples remain in storage at the ALS Chemex storage facility in Thunder Bay. In Vancouver, the samples underwent multi-element analysis using ALS Chemex assay procedure ME-MS61, when samples received over-limit values they underwent further analysis using ALS Chemex assay procedure Cu-OG62 (for copper) and Zn-OG62 (for zinc). For gold analysis, all samples underwent Au-ICP21 analysis. The reader is referred to www.alschemex.com for details of analytical procedures.
The current program is funded entirely by UC Resources Limited (“UC”), in compliance with their funding obligation for the project. UC has an option to earn-in up to a 55% undivided interest in the McFauld’s Lake project, which is currently owned as to an undivided 50% interest, by each of Spider and KWG, as per the LOI signed in early March 2007. UC is the operator of the property during the term of their option.
The McFauld’s Lake VMS project was initially discovered in 2002, while Spider, KWG and De Beers Canada Exploration Inc. were exploring the project area in joint venture for kimberlites. De Beers holds a 1.5% net smelter royalty on the project, 0.5% of which can be purchased from De Beers by Spider and KWG for $1.5 million. To date, 10 isolated VMS occurrences have been identified and drill tested on the project, two of which (McFauld’s #1 and #3) have undergone detail drilling. The McFaulds Lake area is also host to other VMS occurrences, discovered by Probe Mines Ltd. and MacDonald Mining and Exploration, as well as nickel bearing chromitite with platinum group metals in a layered peridotite geological setting as discovered by Spider, KWG and Freeewest in early 2006, and the new reported occurrence of chalcopyrite and pyrrhotite in a cumulate peridotite geological setting, recently discovered by Noront Resources Ltd. There have been no assay results from the recent Noront discovery, so there is no guarantee that there will be any results of economic significance.
UC is continuing to fund the exploration of this VMS camp by initially concentrating their efforts on the McFaulds #3 and #1 occurrences, then they advise that they will be looking at completing additional exploration on the other occurrences as the program progresses, through year two, three and four of the agreement. States Mr. Novak for Spider: “As a director of Noront and also the VP of UC and President of Spider, Spider is able to monitor the exploration progress of the discovery by Noront Resources Ltd. announced last week. The Noront discovery attests to the discovery potential of this relatively unexplored region of Ontario and now with the initial assays from the UC funded drill program on McFauld’s #3 VMS occurrence in hand, this further re-assures that the McFaulds Lake area is an exciting place to be exploring. These drill results, combined with the excitement that is surrounding the Noront exploration program may provide the impetus necessary to entice the majors into this area once again.”
This press release has been prepared by management of Spider Resources Inc., and has been approved for dissemination by Neil Novak P.Geo. of Cambridge, Ontario, a Qualified Person under Canadian Securities guidelines, in his capacity as President of Spider Resources Inc. and also as Vice President for UC Resources Ltd.
Spider Resources Inc. is a tier 2 Canadian exploration company, quoted for trading on the TSX Venture Exchange under the symbol SPQ. There are 242,193,535 shares issued in Spider as of June 30, 2007.
On behalf of the board of directors,
Neil Novak, President and CEO
For further information:
Contact Toronto Head Office
#1000, 15 Toronto St. Toronto Ontario, M5C 2E3 Canada
(416) 815 8666 or:
Jim Voisin, Communications Manager
(519) 699 5352
Website: www.spiderresources.net
This press release, required by applicable Canadian securities law, is not for distribution to U.S. news services or for dissemination in the United States, and does not constitute an offer of the securities described herein. These securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.
This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are Canadian dollars unless otherwise noted.
SHAREHOLDER NOTICE August 24, 2006
NOTICE OF ANNUAL SHAREHOLDER MEETING FOR
CERRO DORADO, INC.
TO BE HELD ON SEPTEMBER 23, 2006
If there is to be an AGM this month, should it not have been announced already? Are there rules about how long in advance an AGM needs to be announced? I guess an announcement this month could announce an AGM one month later in October if required. Just curious...
If Les is going to Chile as a representative of MDMN, might one of the following people from CDCH go with him as a representative of CDCH?
William Hoffman Chairman of the Board & Director
Richard Cahoon President & Director
Richard Cahoon Secretary
William Buchanan Treasurer & Director
Jim Robertson General Manager
Orenburg-Samara rail and pipelines lead to it...
lazyeye, looks like the Rozhdestvenskoe oil site to me...
cQuest is charging TSX.V: GNG $6000 per month.
I wonder if that is what STRAT is being charged????
http://www.newswire.ca/en/releases/archive/August2007/02/c3819.html
The services agreement with cQuest is for 12 months effective from
June 1st, 2007 until June 30th, 2008 at a monthly fee of CAN$6,000 payable in
quarterly installments. The agreement is subject to TSX Venture Exchange
approval and its rules and policies.
cQuest is STRAT's capital markets advisory which is an affiliate of Christensen.
Sample:
Golden Goliath retains cQuest as global capital markets advisor
TSX.V: GNG
US: GGTHF
VANCOUVER, Aug. 2 /CNW/ - Golden Goliath, a junior exploration company,
has appointed cQuest, a capital markets advisory affiliate of Christensen to
provide investor and media relations services. cQuest assists companies with
market capitalizations of less than $200 million achieve fair market valuation
and strengthened brand recognition in the global financial markets and
business media. The appointment of cQuest reinforces the Company's commitment
to improve its external communications and increase its visibility within the
financial community.
in several current...
and pending operating projects and relationships,
I like that word "current"... as in current operating projects... as in current revenue being generated...
PS. Nothing personal against Sam, however, it would appear that the last two PR's were written by a professional IR person...
SPRL STOP SIGN CONFIRMED!!
SPRL has the Stop sign icon
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=sprl#getQuote
JMCP news releases have been removed from Chinook Investor Relations Group web site.
I have resigned as IR for JMCP Corp. as of Juy 30th. Please do not email me in regards to JMCP Corp. related matters.
Thank you,
Harold Engel
Chinook Investor Relations Group LLC
Good news for SPRL...
On August 1, 2007, the Pink Sheets will begin to display the category label and a corresponding icon next to the company's trading symbol everywhere it appears on pinksheets.com. SPRL will most likely obtain the Pink Sheets Disclosure Categorization of Current Information (icon: Pink Checkmark).
While Companies that are registered with the SEC must be current in all electronic filings posted on the SEC's EDGAR system to obtain this designation, those companies that are not registered with the SEC only need to meet Pink Sheet Guidelines confirmed by a quarterly letter from an attorney which must be posted on the Pink Sheets News Service and displayed on pinksheets.com. SPRL's filing status with the SEC became de-registered 90 days after it went dark last June. I expect SPRL to obtain Disclosure Categorization of Current Information (icon: Pink Checkmark) as a result.
Could it be GCMG.PK? It tried to acquire Wales Holding once before when it was registered under GDLS.PK.
http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cmt%5C2007%5C06%5C12...
I like the sound of that. If news comes out June\July, do you think MDMN would wait until September to hold the AGM or are you referring to a special meeting as soon as the news does arrive? Thanks.
geoly31, when and where is the AGM? Thanks.
oilgeek, a unique process?
Strat Petroleum is obviously working on getting it right! We are still here because we think they have what it takes to get it right. We also know that every PR comes with a forward looking statement indicating the risks factors.
You may be correct that Strat had (past tense) a unique process. However, it would not surprise me one bit if Strat had to abandon what might have originally appeared to be a good idea but turned out not to be. Chances are that this would not be the first time that has happened. For example, IMHO, what Strat might have thought was a good idea a year ago could have been proven to be a major disaster if it had been implemented. But if you look on the bright side, Sam never gives up. He just keeps turning over rocks and I have faith that he will eventually find what he needs. IMHO, for example, "NANO-technology" based chemistry also know as the new "green chemistry" could hold the answer. Also, IMHO, if Sam has had discussions with the Academy of Science in Russia, I would bet that he has also had discussions with Queens University (Canada).
IMHO, the original chemical solution adopted by Strat could have proven to be the wrong one if it was of the less desirable types as Dr. Jessop from Queen's University (Canada) has shown in the article below. Sam would be looking for cheap, non-toxic and environmentally friendly solutions and just like any other type of application, sometimes you need to kick the tires a few times before making a final choice. This process sounds superior to the "Old-fashioned soap" legacy approach.
Article:
Mixing, Then Un-mixing Oil And Water 'On Command' Could Solve Oil Recovery And Clean-up Problems
Science Daily — Queen's University researchers have devised a "green chemistry" solution to one of the oil industry's biggest problems -- in a cost-effective way.
The study addresses the recurring problem of separating oil and water mixtures, and targets diverse applications including cleaning up oil spills, and extracting oil deposits from tar sands and reservoirs. Other potential beneficiaries are plastics manufacturers, chemical and pharmaceutical companies, mining companies and makers of cleaning products.
The new process can be used whenever industry requires an emulsion (the mixture of two liquids in which droplets of one are suspended evenly throughout the other), explains lead researcher and Queen's Chemistry Professor Philip Jessop. This might occur when cleaning spills, extracting oil from the ground, de-greasing metal equipment or metal surfaces, and manufacturing chemical products such as plastics.
Since oil and water don't normally mix, it's necessary to add a "surfactant" (surface active agent) in the layer between them before you can create an emulsion. "The problem is that in many situations, you later want the water and oil to separate again," he continues. But of the 'switchable' surfactants known so far, one is very expensive and contains metals, another is extremely toxic, and the third type is activated by light -- which doesn't work well with opaque emulsions.
Old-fashioned soap can be made to "switch" but that requires large amounts of acid to be added, which is not desirable, says Dr. Jessop, Canada Research Chair in Green Chemistry. The surfactant developed by the Queen's team is also completely reversible and does not require metals, acid, or light. Exposure to carbon dioxide (CO2) activates it, while bubbling air through the liquid turns it off again. CO2 and air were chosen because they are cheap, non-toxic and environmentally benign: the CO2 can be recycled material from power plants.
"You can do this over and over, timing it for exactly when you want the switch to occur," Dr. Jessop notes. And when the surfactant is turned off, causing oil and water to separate, the now-clean water may be returned to its source or recycled.
The new surfactant builds on Dr. Jessop's discovery last year of "switchable solvents" that change their properties when alternately exposed to carbon dioxide and nitrogen, making it possible to re-use the same solvent for multiple steps in a chemical process.
"Right now there are big separation problems causing enormous headaches in the oil industry," says Dr. Jessop. "If 'green chemistry' can solve these problems, then the environment benefits and companies profit financially as well. It's very much a win-win situation."
Also on the team from Queen's are Chemistry Department graduate student Yingxin Liu and Chemical Engineering Professor Michael Cunningham, and from the Georgia Institute of Technology Drs. Charles Eckert and Charles Liotta.
Green chemistry refers to the development of chemical products and processes that reduce or eliminate the use and generation of hazardous substances. Rather than focusing on the natural environment and pollutant chemicals in nature, this type of chemistry seeks to reduce and prevent pollution at its source.
Agree 100%
So what if JMCP can run, walk or crawl LOL! A pump and dump of JMCP might give SPRL a boost short term, however, since QBID is back to .0001 your analysis of JMCP does not bode well for SPRL in the long term.
eik, Thank you for that insightful explaination. It sure goes to show the uphill climb that Strat has had to endure. After all, they have been working with their contacts in Russia for several years already. This might also explain the delays in Strat's ability to publish up-to-date financials.
Regards