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Just follow the instructions of the Company.
Mercury is retrograde until after July 28th.
Today the Sun conjoins with Mercury the messenger and EP on the cusp of Cancer and Leo. Ep shoots off to Node in Pices. Within a few days Saturn will conjoin with ASC, Juno ad Vest which shoots off to Cere, Neptune and Chir in Aquarius. As well as Vert, Pall, and Pluto in Sagatrius and Capricorn. Following that comes Mars on the cusp of rip roaring Leo and Virgo. Most important is Jupiter in Scorpio in a couple of months. Get ready folks.
Just follow the instructions of the Company.
Just follow the instructions of the Company.
Just follow the instructions of the Company.
Wastech, Inc. Details Acquisition of Coal Operations
CHARLESTON, S.C., Jun 29, 2006 (PRIMEZONE via COMTEX) -- Wastech, Inc. (Pink Sheets:WTCH) (the "Company"), earlier today announced a $1.7 million deal to acquire approximately 600 acres of coal-enriched property in southern Illinois, for the purpose of coal reclamation, refining and combustible fly ash storage, as well as the potential for alternate coal refining capabilities suitable for various state and federal tax credits.
The property was previously the site for extensive coal mining operations until market conditions no longer justified continued operations, yet leaving over 7.2 million tons of coal fines on site, and various associated equipment in place for reclamation operations to be conducted by the Company. In addition, the site has the capacity for placement of 6-7 million tons of coal combustion waste and coal combustion by-product ("fly ash") upon surface areas, and 6-7 million tons below the surface into previous, deep mine voids, all from surrounding coal fired utility companies. The property is currently permitted and bonded, pursuant to Illinois Department of Natural Resources.
Wastech initially plans to re-mine existing coal fines and accept fly ash for a 10-12 year sustained operation, currently with prospective purchasers identified and distributors in place for disposal, yielding gross revenues, exclusive of tax incentives and alternate energy prospects, of $13-16 million.
Wastech, Inc. to Acquire Additional Energy Assets
CHARLESTON, S.C., Jun 29, 2006 (PRIMEZONE via COMTEX) -- Wastech, Inc. (Pink Sheets:WTCH) (the "Company"), today announced a $1.7 Million deal to acquire approximately 600 acres of mineral rich property in southern Illinois. The Company would not yet define the exact location of the property prior to closing, however will disclose that the property will be the subject of a coal reclamation, refining and combustible fly ash storage operation, over a 10-12 year period, yielding gross revenues, exclusive of tax credits and integrated alternate energy prospects, of $13-16 Million.
Wastech plans a more detailed press release prior to the close of business today.
About the Company
Wastech, Inc. is an Oklahoma-based, public holding company, with investments in energy assets and proprietary waste management technologies, specializing in alternate means of collecting, transporting, and disposing of liquid and solid bearing wastes, as well as, integrated waste to energy programs, utilizing environmentally friendly, cutting-edge conversion systems. Wastech currently utilizes 8 patents in its business pursuits, and owns approximately 50,000 acres of coal, coal-bed methane, and oil and gas rights across the mineral rich state of West Virginia.
WTCH:Wastech, Inc. to Acquire Additional Energy Assets
CHARLESTON, S.C., Jun 29, 2006 (PRIMEZONE via COMTEX) -- Wastech, Inc. (Pink Sheets:WTCH) (the "Company"), today announced a $1.7 Million deal to acquire approximately 600 acres of mineral rich property in southern Illinois. The Company would not yet define the exact location of the property prior to closing, however will disclose that the property will be the subject of a coal reclamation, refining and combustible fly ash storage operation, over a 10-12 year period, yielding gross revenues, exclusive of tax credits and integrated alternate energy prospects, of $13-16 Million.
Wastech plans a more detailed press release prior to the close of business today.
About the Company
Wastech, Inc. is an Oklahoma-based, public holding company, with investments in energy assets and proprietary waste management technologies, specializing in alternate means of collecting, transporting, and disposing of liquid and solid bearing wastes, as well as, integrated waste to energy programs, utilizing environmentally friendly, cutting-edge conversion systems. Wastech currently utilizes 8 patents in its business pursuits, and owns approximately 50,000 acres of coal, coal-bed methane, and oil and gas rights across the mineral rich state of West Virginia.
Yep, let time take its course.
Ang,
A lot higher based upon assets.
Just follow the instructions of the Company.
Looking better all the time. Undervalued to me.
WTCH-More News:Wastech, Inc. Closes Purchase of West Virginia Mineral Rights
CHARLESTON, S.C., Jun 27, 2006 (PRIMEZONE via COMTEX) -- Wastech, Inc. (Pink Sheets:WTCH) (the "Company"), today is pleased to announce that on April 14, 2006 it successfully closed on its recently announced purchase of approximately 44,000 acres of subsurface coal, coal bed methane and all other mineral rights under enriched acreage throughout various counties in West Virginia, as well as exactly 5,898.49 acres of oil and gas reserves in Fayette County, West Virginia.
In West Virginia it is estimated that 99% of the generated electricity comes from coal, utilizing within the state approximately 14 coal-fired electric generating facilities, amounting to $3.5 billion in gross state product generated as a result of coal. At current market conditions, state estimates would equate the acquired mineral reserves in excess of $1 Billion to the Company's subsidiary.
As previously announced, the Company acquired the specific mineral rights in direct concert with Environmental Energy Services, Inc. (Pink Sheets:EESV). Aside from the capital infusion and expertise, the strategic partnership was created to potentially provide a "leasing ground" for future drilling prospects of EESV, as well as its future energy projects, alternate or otherwise, contemplated for the State of West Virginia and abroad. Notwithstanding the above, the Company and EESV are in discussions with other energy companies concerning the acquired rights for alternate leases and business opportunities.
About the Company:
Wastech, Inc. is an Oklahoma-based, public holding company, with investments in energy assets and proprietary waste management technologies, specializing in alternate means of collecting, transporting, and disposing of liquid and solid bearing wastes, as well as, integrated waste to energy programs, utilizing environmentally friendly, cutting-edge conversion systems. Wastech currently utilizes 8 patents in its business pursuits, and owns approximately 50,000 acres of coal, coal-bed methane, and oil and gas rights across the mineral rich state of West Virginia.
The Company plans to file the above transaction and documents thereto with the Security and Exchange Commission ("SEC") this week and that this release contains excerpts from a previous press release and should be read in conjunction thereto.
Well, they have the assets. Lets see what they do with the stock. It looks undervalued to me.
Hi scream,
I heard that WTCH has a lot of good news coming. We may see this move higher.
Wastech, Inc. to Amend Subscription Agreement With Majority Shareholder for Buy-Back of Stock
CHARLESTON, S.C., Jun 26, 2006 (PRIMEZONE via COMTEX) -- Wastech, Inc. (PinkSheets:WTCH) (the "Company"), today announced that the Company and Environmental Energy Services, Inc. (PinkSheets:EESV) have agreed to amend their recently announced Stock Purchase Agreement to provide additional funding of $250,000 for the purpose of a stock buy back program, repurchased through open-market transactions according to the Securities and Exchange Commission rules regarding such repurchases (the "Subscription Amendment").
Pursuant to the Subscription Amendment, among other things, EESV shall: 1) acquire five million (5,000,000) additional shares of Wastech common stock; 2) for consideration in the amount of $250,000 or $.05 per share; 3) for the purpose of a twelve (12) month repurchase program; 4) commencing no later than August 25, 2006; 4) subject to the approval of EESV; and 5) all pursuant to EESV's discretion as to purchases.
Although the commencement date is set for August, EESV has agreed, presuming the program meets its approval, the repurchases may begin as early as next month.
Mr. Leon Blaser, Advisory Member to the Company's Board, and Chairman of the Board of EESV commented, "Aside from the apparent benefit to EESV's stock position, the transaction is a necessary step to increasing shareholder value without influencing business, operations and reporting requirements of the Company. Most significantly, however, price simply does not reflect the value of the Company's waste licenses and recent acquisition of mineral rights in West Virginia."
Wastech, Inc. is an Oklahoma-based, public holding company, with investments in energy assets and proprietary waste management technologies, specializing in alternate means of collecting, transporting, and disposing of liquid and solid bearing wastes, as well as, integrated waste to energy programs, utilizing environmentally friendly, cutting-edge conversion systems. Wastech currently utilizes 8 patents in its business pursuits, and owns approximately 50,000 acres of coal, coal-bed methane, and oil and gas rights across the mineral rich state of West Virginia.
WTCH-Wastech, Inc. to Amend Subscription Agreement With Majority Shareholder for Buy-Back of Stock
CHARLESTON, S.C., Jun 26, 2006 (PRIMEZONE via COMTEX) -- Wastech, Inc. (PinkSheets:WTCH) (the "Company"), today announced that the Company and Environmental Energy Services, Inc. (PinkSheets:EESV) have agreed to amend their recently announced Stock Purchase Agreement to provide additional funding of $250,000 for the purpose of a stock buy back program, repurchased through open-market transactions according to the Securities and Exchange Commission rules regarding such repurchases (the "Subscription Amendment").
Pursuant to the Subscription Amendment, among other things, EESV shall: 1) acquire five million (5,000,000) additional shares of Wastech common stock; 2) for consideration in the amount of $250,000 or $.05 per share; 3) for the purpose of a twelve (12) month repurchase program; 4) commencing no later than August 25, 2006; 4) subject to the approval of EESV; and 5) all pursuant to EESV's discretion as to purchases.
Although the commencement date is set for August, EESV has agreed, presuming the program meets its approval, the repurchases may begin as early as next month.
Mr. Leon Blaser, Advisory Member to the Company's Board, and Chairman of the Board of EESV commented, "Aside from the apparent benefit to EESV's stock position, the transaction is a necessary step to increasing shareholder value without influencing business, operations and reporting requirements of the Company. Most significantly, however, price simply does not reflect the value of the Company's waste licenses and recent acquisition of mineral rights in West Virginia."
Wastech, Inc. is an Oklahoma-based, public holding company, with investments in energy assets and proprietary waste management technologies, specializing in alternate means of collecting, transporting, and disposing of liquid and solid bearing wastes, as well as, integrated waste to energy programs, utilizing environmentally friendly, cutting-edge conversion systems. Wastech currently utilizes 8 patents in its business pursuits, and owns approximately 50,000 acres of coal, coal-bed methane, and oil and gas rights across the mineral rich state of West Virginia.
Impart Media Group Signs Strategic Alliance Agreement With Optical Products Development Corp.
Impart to Provide Content and Sell Advertising for OPD 3-D Kiosk Rollout
SEATTLE, June 22, 2006 /PRNewswire-FirstCall via COMTEX/ -- Impart Media Group, Inc. (OTC Bulletin Board: IMMGe.OB), an innovator in the content, creation and management of out-of-home digital advertising, informative content and network management, announced today the signing of a two year strategic alliance agreement with Optical Products Development Corporation (OPD), located in Elmira, New York. OPD has built a leadership position in the 3-D visual display market niche by designing, developing and manufacturing patented 3-D interactive display technologies, and has sold more than 50,000 units for applications in digital signage, integrated kiosk solutions, point-of-purchase displays and gaming. As part of the agreement Impart Media Group (Impart) will sell advertising and provide content on OPD's 3-D Couponing Kiosks. OPD's initial deployment of the Interactive Coupon Machine (ICM) includes 3-D "Out-of-the-Box" imaging tied to promotional coupons. PromoDriver, OPD's newly established subsidiary, will start delivering the ICM Kiosks to grocery stores this summer with plans for production roll-outs by years end.
(Photo: http://www.newscom.com/cgi-bin/prnh/20060214/SFTU169LOGO )
Impart Chairman and CEO Joseph F. Martinez stated, "We are very excited to work with OPD and believe the synergies between our businesses and offerings will enhance the advertising reach of both companies."
"The 3-D image on the kiosks literally stops people in their tracks," stated Kenneth Westort, President, CEO and Board Chairman of OPD Corporation. Westort added, "We look forward to partnering with Impart on both the advertising and technology front and look forward to Impart expanding our kiosk advertising."
About Impart Media Group, Inc.
Impart Media Group, Inc., headquartered in Seattle, Washington, is a rapidly expanding digital signage leader in the emerging out-of-home media sector. The company is plans to grow through a consolidation strategy that includes acquiring the industry's best and brightest talent and most advanced solutions to create a broad, integrated one-stop communications media company focused on digital signage and networked advertising offerings for leading brands in industries such as retail, grocery, banking, restaurants, hospitality, government and public spaces, among others. The company's digital media solutions enable the simultaneous delivery of video content to a variety of remote audiences in real time, allowing for immediate customization of messages through a centralized network operations center. More information please visit: www.impartmedia.com.
IMMGE-More News:
Impart Media Group Signs Strategic Alliance Agreement With Optical Products Development Corp.
Impart to Provide Content and Sell Advertising for OPD 3-D Kiosk Rollout
SEATTLE, June 22, 2006 /PRNewswire-FirstCall via COMTEX/ -- Impart Media Group, Inc. (OTC Bulletin Board: IMMGe.OB), an innovator in the content, creation and management of out-of-home digital advertising, informative content and network management, announced today the signing of a two year strategic alliance agreement with Optical Products Development Corporation (OPD), located in Elmira, New York. OPD has built a leadership position in the 3-D visual display market niche by designing, developing and manufacturing patented 3-D interactive display technologies, and has sold more than 50,000 units for applications in digital signage, integrated kiosk solutions, point-of-purchase displays and gaming. As part of the agreement Impart Media Group (Impart) will sell advertising and provide content on OPD's 3-D Couponing Kiosks. OPD's initial deployment of the Interactive Coupon Machine (ICM) includes 3-D "Out-of-the-Box" imaging tied to promotional coupons. PromoDriver, OPD's newly established subsidiary, will start delivering the ICM Kiosks to grocery stores this summer with plans for production roll-outs by years end.
(Photo: http://www.newscom.com/cgi-bin/prnh/20060214/SFTU169LOGO )
Impart Chairman and CEO Joseph F. Martinez stated, "We are very excited to work with OPD and believe the synergies between our businesses and offerings will enhance the advertising reach of both companies."
"The 3-D image on the kiosks literally stops people in their tracks," stated Kenneth Westort, President, CEO and Board Chairman of OPD Corporation. Westort added, "We look forward to partnering with Impart on both the advertising and technology front and look forward to Impart expanding our kiosk advertising."
About Impart Media Group, Inc.
Impart Media Group, Inc., headquartered in Seattle, Washington, is a rapidly expanding digital signage leader in the emerging out-of-home media sector. The company is plans to grow through a consolidation strategy that includes acquiring the industry's best and brightest talent and most advanced solutions to create a broad, integrated one-stop communications media company focused on digital signage and networked advertising offerings for leading brands in industries such as retail, grocery, banking, restaurants, hospitality, government and public spaces, among others. The company's digital media solutions enable the simultaneous delivery of video content to a variety of remote audiences in real time, allowing for immediate customization of messages through a centralized network operations center. More information please visit: www.impartmedia.com.
IMMGE-SEATTLE, June 22 /PRNewswire-FirstCall/ --
Impart Media Group, Inc. (OTC Bulletin Board: IMMGe), an innovator in the delivery of out-of-home digital advertising, informative content and network management, today announced results for the first quarter ended, March 31, 2006. Revenues were $1,222,744 compared to $1,030,282 for the first three months of 2005, an increase of 18.7% year over year. Historically revenues have primarily been derived from the sale of hardware components and software products used in the Company's proprietary digital signage networks and the fees received from consulting, maintenance and other digital signage services. However, the overall increase in revenues for the quarter ended March 31, 2006 were primarily due to increased media services revenues from the Company's acquisition of E&M Advertising (now Impart Media Advertising) in February 2006, and increased subscription revenues from the June 2005 acquisition of Media SideStreet Corporation. This coincides with a shift in the Company's long-term business strategy to a full-service digital media offering with an advertising-based revenue model designed to take advantage of the evolving out-of-home media sector.
How to Destroy Mongolian Mining
By Morgan J. Poliquin
Tuesday, June 20, 2006]
The Mongolian state on May 12th imposed what it has termed a "windfall profits" tax on mining carried out in that country. The law constitutes a 68% tax on profits from mineral sales when the copper and gold price are above US$1.18 a pound and US$500 per ounce respectively. This tax is so punitive that its imposition is tantamount to nationalization.
Regardless of its intention, the new tax will destroy investment in mineral exploration and development in Mongolia. It caused investor concern and net selling of Ivanhoe Mines Ltd. ("Ivanhoe"), a Canadian firm listed on the Toronto, New York, and NASDAQ stock exchanges, which has found and developed a large resource of copper and gold in the remote hinterland of Mongolia.
To date Ivanhoe has spent over 370 million dollars on the project and has completed a preliminary assessment of the economics of mining, refining, and marketing the copper and gold. The assessment shows that such an undertaking should be economic, but that it will require an initial capital investment of over US$2 billion. There is no existing infrastructure such as power, railways, roads, or water resources, which will all need to be developed.
The tax represents the common view that mining companies are profiteering from a non-renewable resource — copper — which is transported away by foreign mining companies with little benefit to the inhabitants of the country where it was extracted. This is a strong emotional argument largely emanating from the government proposing the bill, which would undoubtedly benefit politically by being able to dispense the proceeds of the royalty.
The problem with this argument is that it serves to discredit the benefit that people in places like Mongolia would receive from the development of natural resources, the costs of hindering development through taxation, the potential that it holds for them, and the risk undertaken by the mining industry that allowed for the benefit, not to mention the benefits locals would enjoy from any future mines that could be found. Mining undertakes to provide the raw materials for many other industries with considerably higher risk.
An Overview of Mineral Exploration and Mine Development
Metal production and use is not new to modern times. Civilizations have been measured by the metals that are produced and used (i.e., the Bronze and Iron Ages). After more than five thousand years of recorded mining and metal use, prospectors have scoured the earth and discovered practically all exposed concentrations of metal in an effort to fill the demand. Today finding a potential site to evaluate for mineral potential means having to go to some of the remotest areas of the planet, or using more advanced technology to evaluate the potential for unexposed mineralization.
Over the last 4,030 years, in response to increased demand and a dearth of easy-to-find mineral deposits, various technologies have been developed to guide the geologist in exploring areas where mineralization is not exposed. This technology includes the science of geology itself where a wealth of information has evolved from the scientific study of mineral deposits and how they form. This massive investment in knowledge now allows geologists to make predictions about where mineralization might occur beneath the surface.
Despite these developments, mineral exploration remains one of the riskiest of business ventures, based simply on the complexities of nature and the rarity of zones of concentrated metal. Mineral value cannot be quantified until core samples are taken through a process called drilling, which enables mineral content to be evaluated in three dimensions.
Today geologists spend their efforts interpreting layers of expensively acquired scientific data and geological observations, evaluating hundreds of potential targets just to find an area prospective enough to risk the expense of drilling. This expense dictates that many areas are evaluated that are never evaluated by drilling. For every 500 to 1,000 mineral showings that are tested by drilling, one mineral deposit with sufficient value to mine is discovered.[1] This reality means that most mineral exploration companies never find a mine with the venture capital money they raise and spend.
The risk does not end with discovery, however. Subsequent to the identification of a mineral resource many other factors have to be considered. To determine the viability of a mining operation, a feasibility study is conducted, which considers costs of construction of the mine, including roads, power, and water supply. Often the metallurgy, or the ability to extract the metal from the rock, render a mineral deposit uneconomical to mine due to the way the metal is naturally occurring in the rock. There are the costs of mining, milling, and refining the ore and transporting the metal to the consumer. There may be a cost in removing rock that is barren in order to access the mineral-bearing rock. These costs often depend on the remoteness of the proposed mine and the access to preexisting infrastructure.
If the deposit still appears to be economical to mine, political risks and environmental costs need to be considered. Many well financed NGO's are committed to stopping mining development and become active opponents to a proposed mine. A significant investment in public relations is then required to combat negative public opinion. This can be tantamount to bribery as the most successful mining firms settle with NGO's by hiring them to conduct their local charity and environmental work programs.
In addition, government environmental regulations require that companies spend large amounts of money in the feasibility stage to determine environmental impact and to put significant money aside to rehabilitate the mine when production ceases. Sentiments in the mining companies' countries of origin demand that the companies invest in the local communities in the form of humanitarian aid, including the construction of schools and drilling of water wells in local communities. Finally metal prices need to be considered and predicted over the life of the proposed mine. Many mines have been rendered uneconomical by an unforeseen change in the price of metals.
Should the proposed mine pass this scrutiny and the government legislation described above, the money needs to be raised from investors to undertake the venture. Few of the largest mining companies in the world have the funds to construct a mine and, as a result, do debt financing with large banks. For example, the Antamina Copper-Zinc mine in Peru was recently put into production by a consortium of companies at a cost of US$2.2 billion, 1.3 billion of which was financed by bank loans.[2]
This money went towards construction costs as well as new infrastructure such as a port facility, 76 kilometers of new road, a new pipeline, 58 kilometers of new power line, and a switching station. Costs also included environmental studies required to acquire over 300 government permits.[2] The mine is currently in operation and has a labor force of over 1,400 people only 28 of which are foreign staff. Estimates of the time to pay back the entire investment vary up to 10 years of the projected 19-year mine life. These estimates depend on metal prices and assume that a hurricane won't destroy any infrastructure — and that the government won't decide to nationalize the mine.
Over the last 25 years, mining companies have had profits of about 5% on average, which are net of costs and payments on loans.[3] A profit margin of 5% means that to get the metal out of the ground it costs on average 95% of the value of the metal produced. By far the largest shares of the costs are labor, power, and services. The goods and services needed by a new mine are prolific in scale and encompass jobs such as mechanics, computer technicians, drivers, engineers, and cooks, all representing new economies created by the mine. It should be noted that before the debts are repaid the profit, net of debt payments, is subject to the corporate income tax rate that exists. BHP Billiton Ltd., one of the largest mining companies in the world, paid US$1.5 billion in taxes to the Chilean government over the past 15 years.[4] Any profits that remain, the owners of the company keep. To use BHP Billiton Ltd. as an example again, in 2001 the company paid US$751 million in dividends to the owners of the company: 298,000 shareholders, including pension funds that represent millions of people worldwide.[5]
The new infrastructure benefits many Peruvians in immeasurable ways, whether it is increased access to electricity, healthcare, and education, much reduced costs to any new mineral deposits found in the area, or other business ventures that might otherwise have been uneconomical. The new port facility will have the same effect and enables the exporting and importing of new goods.
Despite the huge investments required and the financial risks they bring, the mining industry is miniscule compared to the added-value industries that depend upon the metal that mining produces. The copper from the Antamina mine may be turned into wiring for electric motors, copper pipe for water, or the circuit board of a personal computer. In each of these cases the copper is sold at many multiples of its value in raw form. The term "sustainability" is often bandied about in intellectual discussion, but with respect to mining, it never accounts for the fact that the cost of finding, mining, and refining metal dictates that it is cheaper to recycle metal than start from scratch. When one considers that practically all the copper ever mined is still in use, mining can be considered infinitely sustainable.
People with anti-development notions should also consider that over 50% of the copper produced today goes to developing nations, owing to the fact that rich countries are already developed and recycle much of what they need; nearly half of the copper consumed each year in the United States is recycled.[6] Stopping a mine in Mongolia may mean that people in China don't get copper pipes to transport clean drinking water.
Ivanhoe's Mongolian copper-gold deposit is located in a remote, uninhabited part of the world where nobody lives. This land was not claimed by anybody else beforehand. As a consequence nobody but those who have claimed and now own the land, and those who have voluntarily decided to cooperate with the owners through investing in the development of the mine, should benefit from any profits that might arise. These people include the investors who have put up the $370 million to date and whoever will put up the more than $2 billion required to start up the mine.
They are millions of ordinary people from all over the world represented by banks, investment firms, and workers' pension funds. Local laborers would clearly also benefit. The investors make the wages for the laborers of the potential mine possible by putting their savings into the development of the mine at the start, long before any profits will be returned. Mongolian workers don't have the money to find and develop a mine and, like workers worldwide, accept wages in return for labor right away before, and regardless if, any sales or profits are realized by the capitalist investors. Ivanhoe estimated that over its life the project would provide 117,000 new jobs (full and part-time workers), an 11.5% increase in Mongolian per capita income and a $54 billion increase in exports.[7]
The new infrastructure, including power and water generation, roads, community development, and investment in local people in the form of training and skill development would be a boon to future investment and Mongolians alike. The infrastructure will also stimulate further mineral exploration and possible mining development in the area and may make viable other business ventures that might otherwise have been uneconomical. But the main beneficiaries of the mine would be the consumers of copper worldwide, for whom the entire endeavor would be undertaken in the first place.
Mongolia's Dilemma
The Mongolian government consists of a small number of people elected to act on behalf of the populace of Mongolia. This new tax and all taxes are not voluntarily given, but are exacted through threat of violence. As such, taxation should be viewed as morally wrong.
Funds that are forcibly exacted are subject to misallocation and abuse because there is little need to be concerned about satisfying the tax payer, who will be forced to pay again next year, regardless. But taxation is fundamentally flawed because it is based on the ridiculous assumption that someone in a position of authority is capable of deciding on behalf of others what is best for them, or what their needs and wants may be.
If Mongolia is to maintain this new tax, it would be satisfying an emotional argument that insists that Mongolians living in Ulaanbaatar, which is located 550 kilometers away, should benefit from the mining efforts through the exactions of the tax regime. It is easy to see why Mongolians in Ulaanbaatar might think this would be a good idea, but harder to see the long-term costs, which have yet to materialize.
The easily identifiable resources have been found, and new mines in Mongolia will be increasingly expensive and difficult to find. The deserts of Mongolia present difficult challenges to mineral exploration and development such as extreme climate and poor infrastructure that other areas of the world do not have. The tax is conceived as a very real new cost to the already large cost of mineral exploration and mine development. It will serve as a disincentive to the driving force of the market: entrepreneurship, which is based on real judgments and risk taking.
The tax increases the perceived risk for currently planned investments and creates uncertainty in what has recently been a very stable country to invest in and means that the likelihood that anyone will want to undertake the risk to find more mines for the mutual benefit of all goes down considerably. The cost of the tax will be borne by the consumers of copper. Copper, an essential building block of society, will be more expensive for poor people, including Mongolians. The beneficiaries of the royalty would be the Mongolian state and the privileged groups to whom it would decide to dispense the proceeds. Mongolians would be better off building on the new wealth created by a potential copper mine, rather than discouraging risk-takers from finding and developing new mines.
Just follow the instructions of the Company and TaskForce.
Short-Seller Elgindy Sentenced To More Than 11 Years
By Carol S. Remond
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--U.S. District Court Judge Raymond Dearie on Monday sentenced short-seller Anthony Elgindy to 135 months, or more than 11 years, in prison for his role in a scheme to manipulate the stocks of small-cap companies.
Dearie also sentenced Elgindy to forfeit $1.5 million.
Elgindy was convicted in January 2005 of racketeering, conspiracy and securities fraud. He and four others were charged in May 2002 in U.S. District Court for the Eastern District of New York with securities fraud, extortion and obstruction of justice.
Federal prosecutors accused Elgindy of using confidential government information obtained from Federal Bureau of Investigation special agent Jeffrey Royer to manipulate stock. Royer was found guilty of racketeering conspiracy, securities fraud and obstruction of justice.
-By Carol S. Remond, Dow Jones Newswires; 201-938-2074
Oh Janice honey:Short-Seller Elgindy Sentenced To More Than 11 Years
By Carol S. Remond
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--U.S. District Court Judge Raymond Dearie on Monday sentenced short-seller Anthony Elgindy to 135 months, or more than 11 years, in prison for his role in a scheme to manipulate the stocks of small-cap companies.
Dearie also sentenced Elgindy to forfeit $1.5 million.
Elgindy was convicted in January 2005 of racketeering, conspiracy and securities fraud. He and four others were charged in May 2002 in U.S. District Court for the Eastern District of New York with securities fraud, extortion and obstruction of justice.
Federal prosecutors accused Elgindy of using confidential government information obtained from Federal Bureau of Investigation special agent Jeffrey Royer to manipulate stock. Royer was found guilty of racketeering conspiracy, securities fraud and obstruction of justice.
-By Carol S. Remond, Dow Jones Newswires; 201-938-2074
jg,
My private groups and my day trading PalTalk Room have been hitting some big percentage winners
Name one?
jg,
My private groups and my day trading PalTalk Room have been hitting some big percentage winners
Name one?
Just follow the instructions of the Company and TaskForce.
Just follow the instructions of the Company and TaskForce.
Just follow the instructions of the Company and TaskForce.
SEC Approves New Rule 3210 Applying Short Sale Delivery Requirements to Non-Reporting OTC Equity Securities;
NASD Notice to Members 06-28 - June 2006
Effective Date: July 3, 2006
Executive Summary
On April 4, 2006, the Securities and Exchange Commission (SEC) approved new Rule 3210, Short Sale Delivery Requirements, which applies short sale delivery requirements to those equity securities not otherwise covered by the delivery requirements of Regulation SHO, namely non-reporting OTC equity securities.1 Rule 3210, among other things, requires participants of registered clearing agencies to take action on failures to deliver that exist for 13 consecutive settlement days in certain non-reporting securities.
In addition, if the fail to deliver position is not closed out in the requisite time period, a participant of a registered clearing agency or any broker-dealer for which it clears transactions is prohibited from effecting further short sales in the particular specified security without borrowing, or entering into a bona-fide arrangement to borrow, the security until the fail to deliver position is closed out.
Rule 3210, as adopted, is set forth in Attachment A of this Notice. Also included in this Notice is information about the list of non-reporting securities that meet the requirements of Rule 3210 ("Rule 3210 Threshold Securities List") that NASD will publish. The rule becomes effective on July 3, 2006.
Questions regarding this Notice may be directed as follows: for questions regarding Rule 3210, contact the Legal Section, Market Regulation, at (240) 386-5126; or Office of General Counsel, Regulatory Policy and Oversight, at (202) 728-8071. For questions regarding the Rule 3210 Threshold Securities List, contact NASD Operations at (866) 776-0800.
1 See Securities Exchange Act Release No. 53596 (April 4, 2006), 71 FR 18392 (April 11, 2006) (File No. SR-NASD-2004-044).
Just follow the instructions of the Company and TaskForce.
Hold on....rumors abound...that's all I'm going to say...later.
Lets see if the rumors are true. That's all I can say.
Hold on folks.
SALVATION is at hand.
Just hold on.
I heard a rumor from a reliable source. SALVATION.
Just follow the instructions of the Company and TaskForce.