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Maybe, but I also hold shares in RRHI and I'm pretty confident that its ownership in the private Bulldog will at least hold some promise of a return and liquidity on the Dodge Mine barite if Bulldog is successful via a publicly traded entity.
In essence RRHI will be the way to continue to trade on the MBMI/Bulldog via the market.
Thoughts?
I will not mind having my MBMI shares converting to a company like Fonon.
http://www.photonicsonline.com/doc/fonon-awarded-laser-based-d-subtractive-materials-contract-0001
Is this decision on the patent claim good for shareholders?
https://cases.justia.com/federal/district-courts/delaware/dedce/1:2013cv00490/51478/168/0.pdf?ts=1422627573
Does anyone know if RRHI will be a proxy for the new Bull Dog Minerals and Fonon via its shareholdings in MBMI? If BD and Fonon are successful RRHI could benefit right?
Does anyone know if RRHI will be a proxy for the new Bull Dog Minerals via its shareholdings in MBMI? If BD is successful RRHI could benefit right? Also wondering if the quarry purchased last year has been accretive as we don't have the benefit of a 10q.
Ranger- any thoughts as to what happens to shareholders now?
What say you now?
Scottrade showing .2073 ask since open. That would be a good start.
Hukoyo--What "order" was "set aside"? Do you have a link to prove there was an appeal? Court records online do NOT show an appeal much less a set-aside.
Thanks for your reply raptornuts and appreciate the encouraging words!
Raptornuts, do you know if there was an appeal to the most recent MBMI victory by Valentine?
Mr. Johnstockmaster: What does " Rr " mean?
Looking better today.
At least now the bid and ask are back up. Tax selling?
Any ideas as to why its down today almost 100%
The Supreme Court appeal was to be heard yesterday, the 24th; wondering if the case was heard and if so, what was the outcome? If MBMI prevails, this could be great news for those of us who are shareholders!
From the MBMI November 2014 10q: "...Peter Valentine v. Mabwe Minerals (case HC 4112/13) - Mr. Valentine has filed a claim relative to rights under a tribute agreement (case HC1414/14) seeking damages and a share of rights under an irregular sale of the Dodge mining rights. The tribute agreement expired in 2011 and we believe that MAB-Z is the lawful, free and clear owner of Dodge Mine Blocks 1-6. This case was heard before the High Court of Zimbabwe and was dismissed with cost as of October 16, 2014. As we believed this suit to be a nuisance claim from the beginning we still maintain that the facts of the case were rightly determined. This case is under appeal with the Supreme Court under case SC/517-14 with a hearing date of November 24, 2014. We believe this appeal to be baseless and that no impairment is necessary as of September 30, 2014..."
Less interested in where someone might be "hiding" than I am in why the 10q or NT is not filed yet. Lets solve that mystery first.
Perhaps not dark but I agree it is hard to understand why they did not file an NT---If they were to "go dark" we should see the following soon enough:
Day 1:
The company files written notice of intent to file a Form 25 with the stock exchange pursuant to Rule 12d2-2(c)(2)(ii), issues a press release and files a Form 8-K announcing that it is delisting and “going dark,” and the reasons therefore. This information should also be placed on the company Web site.
Day 10
The company files Form 25 with the stock exchange and announces the same.
Day 11:
The company stock continues trading or shortly thereafter begins trading in the Pink Sheets.
Day 20:
The company files a Form 15 to deregister its shares under the Exchange Act. The Form 15 may not be filed prior to the effective date of the Form 25 (ten days after filing).
The company issues a press release announcing deregistration.
Day 100:
Section 12(b) deregistration becomes effective.
Day 110:
The 90-day period after filing of Form 15 passes making effective the deregistration of the company’s stock under Exchange Act Section 12(g) and the suspension of reporting obligations under Section 15(d), if applicable.
10q late filed or will it be posted today? MBMI was filed on time. https://www.sec.gov/Archives/edgar/data/1163300/000141588914003509/mbmi10q_sep302014.htm
You're most welcome....btw, perhaps as a thank you gesture, you can ask Mr Valentine, after he requests reinstatement of his suspended hosting account and gets back online, if he would kindly post the most recent court decision that was found against him and in favor of MBMI?
Thanks!
Not sure who is hiding but it looks like as of this morning the opposition Base Minerals' website has been "Suspended"; answering a question like how that happened would seem at least as important to those of us who are waiting for a look at official word from the courts as to the disposition of the legal issues regarding two.
Here is the link http://basemineralszimbabwe.co.zw/cgi-sys/suspendedpage.cgi
When called upon to testify it's more important that you know the penalty for perjury
"...Perjury also referred to as false statements or false testimony is commited when a person intentionally lies under oath, when testifying in court, during administrative hearings, giving a deposition or in answers to interrogatories.
Perjury can also be committed by knowingly signing or acknowledging a written legal document (such as affidavit, declaration under penalty of perjury, deed, license application, tax return) that contains false information. Perjury is regulated by federal and state legislation..."
I think they imploded.
Hi Beyondbarite, you mentioned the court's written decision and I was wondering if you know if it is available for us anywhere else? Even if there is a fee it would be worth it to have a copy. Thanks!
Pittboss--You say "Does any reasonable person really think that MBMI is going to get rich because someone is ordered to pay "Court Costs"? "
I don't think any reasonable person could read what I posted and conclude what you did about what I said. I never mentioned getting rich from the amounts due from Valentine et al. What I believe will make shareholders rich is the realization of the company's goals to successfully mine the assets they own as I said in my post ("...the real money will come as the result of MBMI's mining operations...)
You say "There were NO compensatory or punitive damages ordered. "
Yes, you are correct and a reasonable person would expect those additional damages will be pursued by MBMI. As we discuss the possible future developments here, its important we all acknowledge that NO compensatory or punitive damages have been ordered YET. After all, a reasonable person would acknowledge PV et al did lose the case, that there are damages as the result of his actions and a company like MBMI will pursue them.
You say "So, I ask again, please provide a link to prove the completely baseless contention that, court costs "will more than offset all the [company's] financial maladies."Heck, just show that it will cover the UNPAID OVERDRAFT on the company's account!"
My contention is certainly NOT baseless. The cash maladies as you described them as follows:
First, the 1.5 million in Current Liabilities you contend is so important to consider needs to be viewed in the context of the entire financial picture. These liabilities are defined as due usually within one year and include other items which you don't mention-here is a link (see this definition http://www.investopedia.com/terms/c/currentliabilities.asp)
These items (including the small cash amounts $105,778, 13,990.00 you do mention) that make up the 1.5 in liabilities, also include items such as Unearned Revenue, Accrued Expenses and Portions of Securitized Loans--here is a link ( see 10q https://www.sec.gov/Archives/edgar/data/1163300/000141588914002520/mbmi10q_june302014.htm )
So, based on the 10q, the picture is not as dire as you describe regarding the size of the financial maladies and therefore a reasonable person could conclude that in fact such a contention was NOT a baseless and that the costs and damages, if and when Peter Valentine pays them, will easily be accretive in excess of any current financial malady.
All this notwithstanding, in my opinion, what PV et al will owe MBMI will be small in comparison to the revenue and shareholder value created when he is finally out of the way.
Hope that helps.
Sincerely,
Your Most Reasonable Person,
Goodinvestment
Why do you say "incorrect"? For starters, I found this confirmation that PV's Base Minerals was ordered to pay costs when he lost the last case to MBMI just a few months ago (thrown out for lack of merit with costs). As you requested here is the link:
http://www.bh24.co.zw/court-dismisses-base-minerals-zimbabwes-appeal/
Perhaps you know; did Peter Valentine reimburse MBMI for the costs as ordered?
By Fidelis Munyoro
"...The Supreme Court has dismissed an appeal in the case in which Base Minerals Zimbabwe was seeking to quash a High Court decision made in favour of Mabwe Minerals Zimbabwe in a dispute over control of barite Dodge Mine in Shamva.
Justice Vernanda Ziyambi threw out the appeal for lack of merit.
“The unanimous decision of this court is that the appeal be and is hereby dismissed with cost,” she said..."
Wow, that's quite a lot to digest pittboss. I guess we should also point out its a good thing that as the result of recent court decisions in MBMI's favor, Peter Valentine will be providing significant cash in the form of court ordered reimbursements which will more than offset all the financial maladies you have identified.
Of course, the real money will come as the result of MBMI's mining operations.
Makes sense...Thanks!
Somebody traded a single share at the open as a sell. Does this make any sense?
Thank you Beyondbarite for bringing us these updates and good news!
I'm wondering if you have any thoughts as to what to expect next if there is an appeal; do you think we will be waiting months again while there is wrangling over an appeal?
Or perhaps the appeal will not be as important as progress adjudicating the tribute agreement in MBMI's favor?
Having patience here has not been easy but in my opinion the rewards are now materializing!
Yes, the order was not filled but that means we have something to look forward to. Looks like the dates were targets and it seems more likely than not from the quarterly report they are still in discussions on revised dates.
In any case, the article points out the sectors' significant need for barite and BH is not the only consumer of barite.
"...You understand wrong. The BHI purchase order was never filled, deadlines were not met, and BHI is a non-issue. They guys at BHU refer to the Dodge Mine as the "Dodgy Mine, and they must roll their eyes when the subject comes up. It is highly unlikely that BHI would even return a phone call to MBMI after that last non-performance..."
As I understand it MBMI has Contracts with Baker Hughes....this news is good news for shareholders!
Baker Hughes Q3 revenue up as oilfield demand driven by Latin and North America
By KASIA PATEL
Published: Friday, 17 October 2014
The results from Baker Hughes show that demand from the oilfield sector remains strong as drilling activity continues in the Americas, which will in turn drive demand for oilfield minerals such as silica (frac) sand, barite (barytes) and bentonite. The remainder of the year is also expected to be positive as activity returns to normal in the Gulf of Mexico.
http://www.indmin.com/Article/3391444/Baker-Hughes-Q3-revenue-up-as-oilfield-demand-driven-by-Latin-and-North-America.html
Baker Hughes Q3 revenue up as oilfield demand driven by Latin and North America
By KASIA PATEL
Published: Friday, 17 October 2014
The results from Baker Hughes show that demand from the oilfield sector remains strong as drilling activity continues in the Americas, which will in turn drive demand for oilfield minerals such as silica (frac) sand, barite (barytes) and bentonite. The remainder of the year is also expected to be positive as activity returns to normal in the Gulf of Mexico.
http://www.indmin.com/Article/3391444/Baker-Hughes-Q3-revenue-up-as-oilfield-demand-driven-by-Latin-and-North-America.html
Raptornuts,
Any chance the judgement in our favor can be found online?
Thanks!
The ask is .35 in my trading account. Is that right? If so, and it holds the word is getting out that MBMI won the case!
Great news! Thanks for letting us know!!
Has anyone head anything new on release of the judge's decision? I think it's going on 4th week. Thanks!
Looks like Peter Valentine has quite a track record as well....
http://www.internationalresourcecentre.org/en_X2/Lothian_v._Valentine.pdf
UK, do you know if this is the same Peter Valentine?
http://allafrica.com/stories/200904300301.html
UK, do you think we will have the judges favorable decision today or sometime next week?