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If you want to believe a pinky CEO has your best interests at heart that fine. All I'm saying is KATX paid a huge price when Ken took Handcamp from it, if he's taking Lucky or Rusty from it, KATX is pretty much a worthless shell.
So then KATX becomes nothing but a shell? Or is Ken just going to continue to transfer properties to try to support BVIG? I'm not sure what Ken is thinking but if he's directly transferring the properties into BVIG this does not bode well for KATX shareholders.
Either that or investors cashing in convertable debt. Maybe Ken could give us a peek of how much more CD this stock has to endure.
You're going to need plenty of that buying with 504's being offered. The share structure mirrors my belly after Thanksgiving.
Bashers aren't the ones who couldn't get a share distribution done in a year and a half, they aren't the ones that dumped hundreds of millions of shares behind a T/A that wouldn't let us know the O/S, they aren't the ones who collected six figure salaries while the company floundered, and they aren't the ones behind two unsuccessful drill programs. They are not responsible for the company's downfall.
What are criminal charges going to be based on? That someone posted they think this company is a scam because they haven't received their BVIG shares a year and a half later? What if this goes to no bid or gets halted? Would you like charges against those that encouraged people to buy while the ship sank?
Everybody needs to keep throwing money down this bottomless pit before the company goes bankrupt or gets halted and you can't buy any more shares.
Google reverse mergers and start reading. Everybody involved has to be audited and the SEC has to approve the merger.
Your opinion is wrong. KATX would be uplisted through R/M, and would have to comply with the reporting requirements.
Smart money dumped at .20+.
Then KATX would have to be audited also.
I've been saying it for awhile but I think this is going to be a good medium to long term play. These are the types of small companies that get bought out, especially in this sector.
Company continues to turn a profit, still continues to be undervalued also, should be sitting around .25 IMO. Sitting tight here.
Ouch, looks like more dilution. Anybody have a recent O/S number? Gonna be a long winter at this rate.
It's going to be a looong winter at this rate.
I saw dumps on the bid, that will generally make a stock go down.
How about yearly movements of the stock price? Do you think a stock price reflects the health of a company? The two year chart isn't looking so hot.
Indeed, thanks for the post. Reality can be quite harsh in KATX land.
Well, Vale themselves said the plant is for processing nickel ore from Voisey, and I'm inclined to take them for their word. They already have a copper plant in Ontario. I doubt they're going to be processing low grade copper ore at the NL nickel plant unless the ore has significant nickel percentages.
Exactly, copper is a byproduct for ore that's primarily processed for nickel. They wouldn't send copper ore to a nickel processing facility. Vale already has a huge copper plant for the primary purpose of processing copper ore. The only way they would send ore to a nickel plant would be if the nickel content was worth processing.
The plant Vale is putting in NL is for nickel, because there's tens of billions of dollars worth at Voisey Bay, copper is considered a byproduct in nickel smelting. Any copper ore would more than likely go to their copper facility in Sudbury. Those are the probabilities. I don't know how else to explain it, Vale's new nickel plant isn't going to have any impact on copper exploration.
I wanted to add that any copper that might be found anywhere in the province would probably be going to the Sudbury COPPER smelting plant, not the NICKEL smelting plant they're building in NL.
That plant is going to be for processing Voisey Bay nickel. That's pretty common knowledge.
Copper in the whole trench, wow, you'd think VEC would've been a little more interested and wanted to get a phase 1 program going. It seems VEC just doesn't know what they're doing, or they're not all that interested, but I'll lean towards the side of Vale probably knows what they're doing.
You think Cornerstone drilled the wrong spot? You think Vale didn't have anything to do with the Red Cliff drill program with footing 60% of the bill? Vale put Red Cliff first in line, obviously they thought it was their best bet, it bombed and it doesn't appear they've been back since. If VEC was so impressed with Lucky the drills would've been turning by now and KATX wouldn't be offering convertable debt.
Don't forget an important fact you left out. Vale already started work on this supposed copper belt at Red Cliff, they found nothing. Doesn't help KATX's cause.
All I see is a company's opinion that they think their results are encouraging. What did you expect them to say? These are the pink sheets, you don't sell stock by telling the truth down in these parts, and we know the company has been selling plenty of stock.
How far has PPS plummeted since those "encouraging" results were released? 90% or so? I think the market has indicated what it thought about those drilling results.
Hmmm, I don't see "Lucky" anywhere in the descriptions of the cores. I thought my question was obvious, I was asking about cores and interstections at Lucky, not properties that are not owned by KATX. I want to see some cores and intersections from this supposed billion dollar property.
Wow, that sounds fantastic! So how do the grades and intersections look?
Exactly my point, who needs drill programs when we have pretty pictures and we can see copper showings? Somebody needs to call VEC and tell them this, after these revelations I'm sure they'll sign on the dotted line and give us our $1.35 per share. Then you'll wake up from your dream and realize this is not how the industry, or VEC, works, to give BILLIONS of dollars for a completely unproven property. Like I said, funny stuff.
That's one amazing geo you've got there Mappo, he can figure out the buyout price for the property without the first hole being drilled. Who needs drill programs? He's going to revolutionize the mining industry. Funny stuff.
Good advice. Play it for what it is and don't drink the koolaid. There's money to be made here, but buying into the hype will turn you into a bag holder, see the 2 year chart for proof.
I wonder if they'd tell you if they put down a year two deposit on the agreement, or if the agreement is still good.
You probably realize this but KATX doesn't have a JV with Vale, they have an option agreement, there's a big difference between the two. Some enthusiastic longs, whether by ignorance or agenda, purported to many here that they had a JV with Vale, and that a partnership with them to develope Lucky was a done deal. Obviously that isn't the case.
Some very very small eod trades have been the only thing propping this up this week, not a good sign.
I don't know the current status of the company. They're currently diluting and offering convertable debt, and they carried a 25k bank overdraft from Q2. I think it's safe to say that money is tight.
I answered your question, but just because a company CAN eternally dilute their stock doesn't mean they will be able to actually do anything as a company, pinks are notorious for this. It appears KATX has diluted enough to pay bills and salaries and not much else (bank overdraft), if they'll be able to dilute enough to pay bills, salaries and do another drill program is still to be determined.
It seems like the best of the pump and dumps always have a fact or two behind them that can be trumped to make it all seem believable. I think this is the case with KATX.
As long as a stinky pinky like KATX has stock to sell there will always be an income source. The question is will they be able to sell enough stock to continue to function as an exploration company. That is debatable.
They've been diluting, that should be obvious to ALMOST everyone by now.