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Hello janice
I was surprised by your last message, and especially by this segment of the message.
"How many people are involved in the current drilling program? "
I would have expected you to have researched CMKX much more indepth, before you would have become so involved expressing your opinions and concerns about CMKX and Urban Casavant.
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Hello janice
Here's a news release from Rick Walkers' companies that should provide some information about the drill program.
United Carina, Cons Pine hit kimberlite in Saskatchewan
2004-05-04 18:35 ET - News Release
See News Release (C-UCA) United Carina Resources Corp
Mr. Rick Walker of United Carina and Consolidated Pine Channel Gold reports
The first two holes drilled on United Carina Resources' and Consolidated Pine Channel Gold's Smeaton, Sask., area property have encountered significant intersections of kimberlite.
Hole No. 1 entered kimberlite at a depth of 410 feet and continued in kimberlite to a depth of 903 feet for a total intersection of 483 feet. This intersection is one of the thickest to be encountered in the Fort a la Corne area to date. Hole No. 2 entered kimberlite at a depth of 394 feet and stayed in kimberlite to 640 feet for a total thickness of 246 feet.
Preliminary logging of the two holes was conducted in a secure warehouse and then split. The samples from the two holes were then transported to the Saskatchewan Research Council's diamond laboratory in Saskatoon for analysis.
After a short break to allow ground conditions to thaw and dry out, drilling is about to resume on this target, with two or three more holes to be drilled. The purpose of these holes is to further define the geometry of the kimberlite pipe and to provide further samples to assay for any diamond content.
The Smeaton property is currently jointly owned by United Carina and Pine Channel, with CMKM Diamonds and U.S. Canadian Minerals each earning a 25-per-cent interest. The 25-per-cent interests will be earned by CMKM Diamond and U.S. Canadian Minerals each providing $50,000 (U.S.) and each financing $200,000 (Canadian) worth of exploration on the 27-claim property. Following the drilling of the current target, further work will be conducted on the other areas of the property. Urban Casavant, president of CMKM Diamonds, the operator, has informed the companies that the project is ahead of schedule and under budget.
The qualified person on this project is Ralph Newson of Saskatoon.
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Hello janice
Do you suppose that it's possible they've been holding off filing the prepared documents until some unknown event or action takes place ? I have a feeling that Casavant has been stalling for some reason ,waiting for the right timing. The only thing I'm sure of, is that the drill program is legit due to Rick Walkers' involvement. He's always been well regarded in the industry and has never had any regulatory infractions.
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Hello janice
Could depend on what motivates his writing skills.
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Hello janice
You happened to just post "Not correct? They have to do several years' worth of Ks and Qs. That takes time, and it costs serious money." . But it could be possible that they have the filings already prepared isn't it ? But again , we just don't know , so all we can do is apply the information as we see it.
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Hello janice
I have no idea why Casavant took CMKM to the PinkSheets , do you know why ? But I have noticed that many larger , profitable , and reputable companies choose to be on the PinkSheets . Do you know why these companies choose to remain , or move to the Pinksheets ?
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Hello janice
I'm not really sure what you wanted me to see in that Shore Gold report. But if you could be a bit more detailed, I'll be glad to have another look. I should admit to you that I've never followed Kaiser in the past, never considered him of much value or that knowledgeable . Always figured I can do better myself , but I'm aware many do folow him. Also I noticed he doesn't own any shares , would that make him biased ?
$2.29 129%
Cumulative Sale Proceeds: $0
Interim Low: $0.60 -40%
Current Position Value: $1,600
Current Price: $1.60 60%
Total Value: $1,600
Gain/Loss from start price: $0.80 100%
Total Position Gain/Loss: 60%
Kaiser Ownership: No
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Hello janice
Considering that CMKX trades on the PinkSheets, and so little information is available . All either of us can do, is make a best guess estimate based on how we perceive the available information.
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Hello Red
Maybe janice has a business or personal relationship with the market makers or brokerages , which allows her to be privy to this information about the shares outstanding for CMKX.
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Hello janice
But I thought we determined last night that we really don't have any idea how many shares are outstanding ? There could be 1 billion , 20 billion , 50 billion , or even 500 billion shares outstanding , we really don't know at this time. Unless you are privy to information that the rest of the CMKX shareholders haven't been. Do you have contacts or business associations with the market makers , that have given you the actual number ? Just curious , for you seem so sure that the shares outstanding will be extremely high.
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Hello janice
I expected that Casavant would have done a share consolidation after the initial run-up of CMKI, when he first took over the shell which had approx. 351 million shares outstanding. But he didn't follow the usual method , but instead continued on with the share structure as it was. Do you suppose that he believes the properties have enough potential to bring value to the company with it's present share structure ? It certainly seems that the company believes they have potential to hire a law firm of that calibre.
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Hello janice
Actually not hard on all investors ,for I've made most of my living from buying these consolidated shells at about the same price the insiders are doing their private placements at. Then waiting for the vend in of properties and promotion which always follows after a share consolidation. So really we would be in agreement that Urban just followed standard methods on the CDN exchanges.
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Hello janice
I noticed in the post that I'm replying to, that you said "I've posted quite a bit about the Petro Plus mess on various threads, including this one " Is your comment in regard to the number of times that Petro Plus had had a name change and share consolidation ? If you are, then you would also have to include about 95% of the companies on the TSX Venture exchange , for it's the standard method for the CDN juniors to survive and continue as exploration ventures.
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Hello Mapleton
From your last reply I can see that you don't have any experience investing in junior mining companies. Why don't you review Shore Gold's early years and see the stages of promotion Shore Gold had to go through to raise the capital needed to advance their exploration program. The bottom line is juniors mining stocks survive on insiders buying private placements and then selling to the retail investors during promotional stages.
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Hello Mapleton
Do you really believe that Forbes readership is an audience that invests in penny mining stocks ? The drag car wouldn't have been my first choice for advertising to the investing public , but the television coverage does make it worth the cost. Just imagine the cost to CMKX if they decided to buy commercial slots on television networks. so it does seem that they have made a beneficial choice for the company.
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Hello Mapleton
It would seem that you have very little knowledge or experience with junior mining stocks. Junior mining stocks survive on promotion, for that's basically the only avenue they have available to them to raise capital for their exploration programs. You should do some research on some of the mid -tier mining stocks, focusing on their early years and the promotional stages they had to go through to raise the capital needed to survive and advance to the next level of mine development.
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Hello Mapleton
Maybe they are doing some advance advertising so that the public will become aware of CMKX, in preparation for their future diamond products. . Many companies role out advertising campaigns in advance of product launches. We see this all the time in the media , when companies have new products or new models of existing products .
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Hello janice
During your years of observing the penny stock markets , have you come across any shorting groups working out of Las Vegas ? I've heard rumours of a certain group, with highly unusual methods of application of the short, who can hook a company before they even know what has happened. From the description of their methods that I've been told , I'd have to say they have one of the most unusual turn-key shorting systems that I'm aware of.
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Hello janice
I really appreciated those examples of law firms acting as promoters for penny stocks. I can't wait until I have time this weekend to further study the events that took place.
One thing that bothers me about CMKX , if CMKX is not on the up and up , why on earth has Urban Casavant allowed himself to become so visible in the public ? Also if I was Urban , I certainly wouldn't be discussing CMKX with shareholders at the races when there are so many witnesses around . Especially , considering the information that shareholders have said they have been told.
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Hello janice
In the last reply you wrote " have no idea. I do believe that the last few days' incredible volume may have set off alarm bells at the NASD. They have a department dedicated to watching for "unusual trading". " . But if I remember correctly we have actually had greater amounts of volume over a extended period of time in the past , so why would the authorities wait until now to do an investigation ? You don't suppose if there actually was a short issue, that the groups involved would attempt to initiate an investigation ? Seems like such a strange time to consider an investigation , when this bizarre volume has been going on for months.
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Hello janice
In the last posting to me you wrote "Possibly. On the other hand, maybe someone's suing them. Maybe the SEC's investigating them. Apart from those possibilities, I've also seen law firms work as promoters for penny companies on a number of occasions. ". Could you possibly give me a example of a prestigious law firm who have worked as promoters for a penny company ? I'd really appreciate it , for I'm always looking to increase my understanding of the workings of the markets . Do you truly believe that the SEC is investigating CMKX , or are you applying logic to the scenario as you see it ?
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Hello janice
Common sense from your way of looking at things. So we are back to logic and how we as individuals apply logic to a particular situation. So let's just suppose the law firm was retained to deal with a short issue. From your vast experience , what effect could this possible action have on the share price of CMKX ? I don't know about you , but I've often foubd that logic doesn't work very well when dealing with the stock market.
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Hello janice
So if I understand you correctly , your saying that you don't believe that CMKX is hiring this law firm in regards to making the needed filings ? But you do agree that credibility would be a reason why a company would consider hiring a prestigious law firm. Do you suppose there really could be such a outrageous short position, and CMKX has hired the law firm to help deal with that issue? Or are we both in the dark , and just trying to apply our view of logic on the situation ?
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Hello janice
I was wondering how you have determined that the O/S for CMKX is too big ? I've done extensive research into that very point myself , and still haven't been able to determine even roughly what the shares outstanding is at this time. Have you been privy to information that others haven't been able to gain ? Or is this just your opinion based on what you assume to seem logical to your way of thinking .
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Hello janice shell
Maybe the filings are so good that CMKX thought they had better hire a big name law firm who's reputation would help validate the incredible contents of the filings. I know myself , that to help prevent a tax audit, I always use a prestigious accounting firm which the tax department is less likely to question or audit a clients filing.
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Hello janice shell
Have you spoken to the company , do you know for a fact that the filings aren't already prepared ? I would assume with your elite research abilites , that you have most likely spoken to Urban Casavant in person . Your so fortunate to have gained such a reknowned reputation , must open the lines of communication to so many company corporate heads . Maybe you could share with us common people , the insight you have gained about CMKX from your extensive investigation.
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swinging for the fence
All the more reason to have her stick around, so that we can play cat and mouse with her. If she continues to post here , in time her motives for being here will become clear. I've only recently moved from the Canadian markets to the US exchanges , so observing Janice may produce a better understanding of your market dynamics.
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Hello swinging for the fence
You know this is a public forum , so she does have the right to post her views about CMKX. Besides , if you have confidence in your investment than she can't be any threat anyways. I'd prefer if she continues to post here , for I've been curious to actually observe her methods of posting , and to try and develop a clearer understanding of why she does this activity. No one would spend this much time on a activity, some call bashing a stock , unless there was some form of reward to be gained.
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janice shell
I'm afraid that arete and I have been down that road before in regards to the ownership of the claims. I've spoken to every Sask. goverment ministry which has regulatory authority over the different aspects of CMKX's holdings . And the bottom line is that all the claims are held by numbered companies, with CMKX having private option agreements with them. Considering the legal registry system in Sask. , one would have to visit the local land registry offices in the areas in question, to locate actual proof of control. As far the continual transformation of Petro Plus from one identity to the next , that's nothing new in Canadian juniors , were it's common to see some of these companies do the same thing, five to seven times over a twenty year period. All they basically do in some cases is consolidate the shares outstanding and rename the company with consolidated on the end. And then the next time around they just consolidate the shares again , and remove the consolidated off the end of the name. So I'm afraid that you haven't found anything earth shattering to anyone who has played the Canadian juniors for any length of time.
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janice shell
I'm curious about the timing of your appearance on this forum. I've observed your sporadic appearance on the Raging Bull CMKX forum in the past , but I don't believe that I've seen you venture over here before. Now I'm certainly no Urban zealot, but I have made money off his stock plays in the past, starting with Petro Plus in 1996. There certainly is a lot of supposed information about CMKX that I don't believe , and there a lot of posters supposedly in the know ,who really belong in the Twilight Zone. But your appearance here at this time, does make one wonder what your agenda really is. I've followed your little exploits somewhat in the past , and do find it hard to believe that you bother to spend so much time on these companies solely as a hobby. So it makes me wonder what your true motive ,is for really being here. It couldn't be that your lending a hand to certain groups who would like to achieve a certain outcome ?
You know , you would make an interesting study for some investigative reporter, who is looking into the various murky influences on the penny stock markets.
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Hello Red
Well I see you made it back from the fishing trip safely, and didn't locate anything of interest in the Green Lake area . Judging from the trading of Rick Walkers' companies , there certainly isn't any positive rumours floating around about the Smeaton drill results so far. From reading a great deal of the posts on this forum , it seems that very few posters here have played many of the junior mining plays before. I have a feeling that many here will be in for quite a shock ,when this promotion finally plays out. I don't know about you , but some of the values that some of these posters put on CMKX, seem right out of the Twilight Zone.
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50 Mil Strong
Well I hope your correct , for I own quite a few shares of CMKX. But I've played his plays in the past, starting with Petro Plus , and he's certainly not the most brilliant promoter that I've ever come across. People need to research his past plays , which is available at Canada StockWatch if you have a subscription . He's been involved in one capacity or another with a large number of stocks, and he certainly hasn't had a track record of very many winners. A suggestion for forum members, would be to sign up for a trial subscription at Canada StockWatch and review Urban Casavants past exploits to be understand the dynamics of this stock.
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ddfridd_007
Well what I keep asking myself , if Casavant has the money to buy all these shares back , then why did he take on joint veture partners ? Casavant gave up total claim ownership through joint ventures with the other companies , on claims that some say are worth billions and billions of dollars . For the amount of funds that CMKX will receive from the joint ventures , it would seem to me that he received peanuts for claim percentages that Sterling and others are trying to make people believe are worth many billions of dollars. Myself I would have kept the claim ownership to myself since they're suppose to be worth billions , before I would have supposedly been buying back shares and losing percentage ownership of the claims. Something just doesn't add up with that theory , just doesn't seem like good business decisions to me.
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whatif
To be honest from my own observations of the markets , and specifically the Canadian markets , most supposed naked shorting is actually insider selling of shares that are restricted at the present time. I've seen countless companies that are rumoured to have naked shorts , but in fact it's insiders who are selling from offshore accounts, shares which will be covered in the future from private placements which are yet free trading. I know there is a new financial vehicle, being used by insiders to forward sell shares that are not yet free trading , but I can't at this time remember what the exact term it is called. It's a form of hedging , and at the present time very few insider information sites have developed the methods to include the values into their insider information.
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diamondskr
I've done it myself here in Canada , and a good example was Itemus on the Toronto TSX Exchange , symbol ITM.TO. The company went from around the $3.00 or so level to $.00 after it went out of business. You can still cover your short account by either buying the shares from the unlisted US market as symbol ITMUQ or making arrangements with your bokerage to close the short position. Technically you don't have the proceeds of the short position until the short is close out anyways , so unless you close the position you don't receive the funds.
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whatif
Even if a company goes out of business , the short still has to close out the position , and the profit from the short is taxable. I'm of the belief that this naked short issue is more myth than reality, and most times is suggested by company insiders who have been selling their own shares either directly held ,or from offshore accounts. Also all this talk about the Berlin Exchange and shorting makes no sense either, due to the fact that the volume of trading of the OTCBB stocks listed on it is so low.The volume of trading on most of those stocks is just too low to have any impact on the stocks or cause major declines in share price.
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skunksyard
I do feel confident that we will see a promotion with CMKX , but as to how high the price can rise, who knows. I have the impression that Willy has heard something of a upcoming promotion , just as he posted a week or so before QBID began to move. Makes me wonder if it's not the same groups involved with CMKX at this time , and what a surprise but Sterlings here also.
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skunksyard
Why do I have a feeling that Sterling is associated with certain promotional groups. I believe QBID had certain promotional groups involved until the run to $.025 . A great deal of the content of Sterlings posts can't be verified and certainly doesn't agree with what I've been able to obtain from Sask. goverment ministries.
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Hello TSXminer
Did Casavant let the claims lapse , so that the claims could be acquired in the numbered companies which he doesn't have an interest in , to prevent liens being placed on the claims once again ?
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maninfla
I'm curious why Casavant put that news release out yesterday , since the Canadian joint venture partners didn't. Yet a little over a week ago , Walkers' companies released a drill update , yet Casavant didn't do the same for CMKX. With most drill plays , all companies involved usually release updates at the same time.But when I think about it, since when has this company ever done anything normal.
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