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New Gold Play in the A.M. -5 Seals-
New Gold Play in the A.M. -5 seals-
the word is already out
So Perttu did the Earlier Paperwork
that Brown relied on, VERY INTERESTING
Bankshot only gets one post, so stay tuned for tomorrow.
Good Stuff There, Bankshot
Are You Guys Patient?
I hope so, because before DGRI can even start doing any exploration drilling at the Basin Gulch (and they'll have to do plenty of it) this is what they still must do:
"Montana, Federal (BLM) and private lands are handled similarly in the permitting process. Dutch must apply for either a blanket
exploration permit for Montana, or a specific permit for the Basin Gulch project. In either case, proposed drill sites and trenches must be located on a map, with a detailed description of how the preparation and reclamation of each site will be completed. The regulators will then have the choice of sending out an inspector to review the proposed plan. The State and perhaps the BLM will subsequently calculate a reclamation bond amount for the work proposed, based on existing State standards. Upon Dutch posting the bond, Dutch may then proceed with the exploration work."
Of course, exploration drilling is a very lengthy and expensive process. (Just ask the folks over at LODE, formerly Goldspring about that). And, a lot of drilling must still be performed. All the previous drilling at the Basin Gulch was done in the early 1990's, and then only 323 holes were drilled.
Moreover, if one looks at the 2010 NI 43-101 compiled by David Brown, he didn't retest any of the drill samples, but simply relied on the paperwork that was given to him. For an NI 43-101, his report is not only incredibly brief, but more striking is the fact that he did no testing of his own:
"This report has been prepared by David Brown & Associates using public and private documents given to the author for this
purpose. While reasonable care has been taken in preparing this report, David Brown & Associates cannot guarantee the accuracy or
completeness of all supporting documentation. In particular, David Brown & Associates did not attempt to determine the veracity of geochemical, geophysical, or geological data reported by third parties, or to conduct duplicate sampling for comparison with the geochemical results provided by other parties. Only two, two-day field reconnaissance visits were conducted, and a gross geometric modeling was made for volumetric ore grade determinations, as presented in the 2006 43-101 report. In addition, a preliminary draft volumetric ore grade determination was made by a third party in 1996 and presented in the 2009 43-101 report."
David Brown's 2006 NI 43-101 for the Basin Gulch has not been filed by DGRI. For anyone interested, here's his 2010 report.
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=7015848
Thanks
Any timeframe of when production starts?
Thanks, Smitter
Good Luck, Davidam
I once owned shares and don't care for a CEO lying to shareholders about "no dilution." It all started around November 9th, after a great run. But then the stock starts to crash. At the time, investors were told the O/S was 192 Million. So, in one month, the company dumps 100 million shares, yet the CEO is telling shareholders that nothing has changed.
Its all about credibility to me. I just don't trust this CEO. If he can outright lie to his investors who line his pockets, there's nothing to stop him from continuing to do so.
My last post here.
Once again, good luck.
DGRI Dumps 182.5 Million Shares in 8 Months
The number of shares outstanding of the issuer's stock, $0.001 par value per share, as of April 15, 2010 was 115,717,375
As of December 1, 2010, there were 298,306,737 shares outstanding. In the two months following our last report
That's almost 23 million shares a month.
Robbing from Peter to pay Paul.
Good luck everyone.
Thanks, But Link to 43-101, Please?
tia
True, Time Could be on DGRI'S Side
But, its not unusual for these informal investigations to take this long.
While the investigations are done in private, the formal closure is made public.
this one took 10 months.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57942815
FORGET HUFFINGTON, TRY THIS ON
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57942815
Correct, Bulldog
If the case was closed, DGRI would have have been formally notified of the closure. And, I would suspect that DGRI would would formally notify their shareholders by a P/R at the very least, and by also filing an 8K, as that would appear to qualify as a material event.
AS OF NOV 12TH, INVESTIGATION STILL ONGOING/b]
According to the most recent 10Q filed on November 12th, the investigation is still ongoing.
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=7555040
Item 1. Legal Proceedings
We may be involved from time to time in ordinary litigation, negotiation and settlement matters that will not have a material effect on our
operations or finances. We are not aware of any pending or threatened litigation against us or our officers and directors in their capacity as such
that could have a material impact on our operations or finances.
On April 8, 2010, the Company was advised that the Securities and Exchange Commission is conducting an investigation titled “In the Matter of
Dutch Gold Resources, Inc.,” File No. A-03222. In the investigation, the Company and its Chief Executive Officer, Daniel W. Hollis, received
subpoenas to produce documents to and provide investigative testimony before the staff of the Commission. Neither the Company nor Mr.
Hollis have been notified of the specific nature of the investigation.
We are not aware of any pending legal proceeding to which any of our officers, directors, or any beneficial holders of 5% or more of our voting
securities are adverse to us or have a material interest adverse to us.
Where Is the SEC Formal Notificaton of Closure?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56397602
no problem
NOT ACCORDING TO THIS ARTICLE
http://www.huffingtonpost.com/dan-dorfman/a-rash-of-fresh-sec-nyse_b_532877.html
ANY WORD ON THE SEC INVESTIGATION?
Actually, I'd rather not take anyone's word, but if I'm not mistaken, when the SEC closes an investigation, it will send a formal notification to the company closing the investigation.
I don't that has happened with DGRI.
For an example:
http://www.reuters.com/article/idUSIN20070808123237FOSL20070808
.
WILL THERE BE A MEA CULPA ON THE O/S?
Isn't tomorrow THE DAY???'
Can Someone Direct Me to the 43-101?
I looked for it, but I probably overlooked it. I'm a little tired to try to find it right now, but I would like to see it.
tia
The 10K has Nothing to do with this Running
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57933455
I'm Not Waiting on the 10K
I want to see revenue numbers from the Vitol deal. Is that too much to ask for? Why is it being kept a secret? That is what people should be asking.
As I've stated, the stock will probably go up, so good luck to all.
Very True, Go With the Flow
But, as I've stated, I would prefer to have the hype supported by some numbers. Just pumping Vitol, without any knowledge of what this arrangement entails, and in particular, how much money RNRG expects to get and when, is just blind pumping. You know the saying; when the blind leads the blind, what happens to both of them?
[Pictures? quoteThey're on Facebook][/quote]
But not on their website?
Hmmmm!
WRONG, THE PLANT HASN'T BEEN BUILT
Stop trying to stretch things, based solely on inference. That P/R states that they were still looking for financing. And Vitol's announcement also says their deal is in the "DEVELOPMENT" stage.
Ravi Daswani, CEO said, "We have completed the technical and feasibility studies of this project. We are now looking at synergistic waste to energy projects in other parts of Africa and are in discussions with reputable African and European financial institutions for the financing of these projects"
None of RNRG financials reflect any money spent building this plant. Do you have any pictures of the plant?
THE DEAL IS REAL, BUT
It's still in the "DELVELOPMENT" stage and no one has any idea what kind of money RNRG expects to earn from it and WHEN?
"This agreement is for the sale by RBP to Vitol of Certified Emission Reductions (“CERs”) generated by Revonergy’s wood waste to energy project in Ondo State in Nigeria, West Africa. This project is in the development stage and is projected to have a capacity of 14MW"
There's no 8k describing the deal or its terms, so I don't expect it to be filed in the 10k, either. To argue that RNRG didn't need to file an 8K because it was done with its London subsidiary, Revonergy Biopower Limited, would mean that this offshoot can run wild without any accounting responsibility or controls. Who is Revonergy Biopower Limited accountable to? No shareholder here has a clue.
The deal sounds great, but RNRG might not see a dime from this for another few years. Who knows? The shareholders don't. Sort of like a gold mine that has all this gold, but won't be able to get any of it out of the ground for years to come.
Additionally, no one has a clue what the current SS is. The last recorded O/S was: "As of August 11, 2010, the issuer had one class of common stock, with a par value of $0.001, of which 58,508,333 shares were issued and outstanding."
So the market cap is at least three million. Without knowing what this deal is worth to RNRG, no one has any idea how to properly value this company.
The 10K is due by Dec. 29th, so a current SS should be recorded in it. Good luck to all here, however. The hype should move this stock, but I'd prefer to at least have some numbers to support it.
10K IS DUE DEC. 29TH
I'm interested in seeing what it says about the deal with Vitol.
I'm particularly interested in the bottom-line dollar of this deal. Seeing that there's no reference to any dollars in any of the news releases, and seeing that this deal was consummated back in July, the deal and dollars should be contained in the 10K.
All Good Questions, Crusher
I'd like to know those answers, also.
I'm particularly interested in the SEC investigation.
Was it ever formally closed? Posters have quoted Hollis as stating it was, but is there any link verifying that?
That DOES Look Legitimate
I'm man enough to admit that I could be wrong.
REVONERGY WAS INCORPORATED IN APRIL, 2008
Organization
Revonergy Inc., formerly York Resources, Inc. (“Revonergy” or the “Company”), was incorporated in the state of Nevada on April 9,
2008. Revonergy was originally organized as a mining exploration company, but after assessing the results from its first round of exploration
activities on its ODD 1 – 4 Properties, the Company decided not to pursue further explorations on the properties and to search for other
business opportunities.
Control of the Company, 35,000,000 shares, was acquired by Sugarberry Assets Limited on December 9, 2009. The Company’s new focus is
on the acquisition and development of renewable energy projects. The Company has incorporated new wholly owned subsidiaries, Revonergy
Biopower Ltd., incorporated in the United Kingdom on December 9, 2009, and Revonergy Power LLC, incorporated in the state of Nevada on
June 10, 2010.
Interim Period Financial
Part of Restructuring/WASN'T PUBLIC AT THE TIME???
Hogwash. If the company wasn't public at the time, no 8K would have been needed to file. Dawsani bought the previous company, York Resources, for 35 millions shares, for $16.5k. An 8k was filed at that time reflecting the business transaction.
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=6942655
Item 5.01 Changes in Control of Registrant
On December 9, 2009, Sugarberry Assets Ltd. (“Sugarberry”) acquired control of York
Resources, Inc. (the “Company”), through the purchase of 35,000,000 shares of our common
stock (the “Purchase Shares”) from Kelvin B. Campbell. Sugarberry is the wholly owned holding
company of Ravi K. Daswani, our new Chief Executive Officer and President. See Item 5.02
below.
The shares purchased by Sugarberry represents 61.3% of the issued and outstanding voting shares
of our common stock.
The consideration for the share purchase was $16,500.
The source of funds for the share purchase was working capital provided as a loan to Sugarberry
by Mr. Daswani.
There is an understanding among members of both the former and new control groups and their
associates that nominee directors of the new control group will be appointed to the board of the
registrant.
The remainder of this Item 5.01 consists of the information that would be required if the
Company were filing a general form for registration of securities on Form 10 under the
Exchange Act reflecting all classes of the Company’s securities subject to the reporting
requirements of Section 13 or Section 15(d) of such Act
Part of Restructuring/WASN'T PUBLIC AT THE TIME???
Hogwash. If the company wasn't public at the time, no 8K would have been needed to file. Dawsani bought the previous company, York Resources, for 35 millions shares, for $16.5k. An 8k was filed at that time reflecting the business transaction.
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=6942655
Item 5.01 Changes in Control of Registrant
On December 9, 2009, Sugarberry Assets Ltd. (“Sugarberry”) acquired control of York
Resources, Inc. (the “Company”), through the purchase of 35,000,000 shares of our common
stock (the “Purchase Shares”) from Kelvin B. Campbell. Sugarberry is the wholly owned holding
company of Ravi K. Daswani, our new Chief Executive Officer and President. See Item 5.02
below.
The shares purchased by Sugarberry represents 61.3% of the issued and outstanding voting shares
of our common stock.
The consideration for the share purchase was $16,500.
The source of funds for the share purchase was working capital provided as a loan to Sugarberry
by Mr. Daswani.
There is an understanding among members of both the former and new control groups and their
associates that nominee directors of the new control group will be appointed to the board of the
registrant.
The remainder of this Item 5.01 consists of the information that would be required if the
Company were filing a general form for registration of securities on Form 10 under the
Exchange Act reflecting all classes of the Company’s securities subject to the reporting
requirements of Section 13 or Section 15(d) of such Act.
THERE'S NO 8K WAIVER FOR A PRIVATE TRANSACTION
A reporting company that does a business contract with a private company is required to file an 8k, if its a material even.
This is a material event, plain and simple.
Otherwise, reporting companies can get away with doing deals under the table all the time and never inform the SEC or their shareholders what in the heck is going on.
Take a peek:
http://www.sec.gov/answers/form8k.htm
THERE'S NO 8K WAIVER FOR A PRIVATE TRANSACTION
A reporting company that does a business contract with a private company is required to file an 8k, if its a material even.
This is a material event, plain and simple.
Otherwise, reporting companies can get away with doing deals under the table all the time and never inform the SEC or their shareholders what in the heck is going on.
Take a peek:
http://www.sec.gov/answers/form8k.htm
DASWANI PAID $16.5k FOR 58% OF THE COMPANY
That amounted to 35 million shares. That means that the total value O/S would was worth about $30,000, at the time. A mere four months later, he sells 1.3 million shares into the float for $400,000. That doesn't pass the sniff test.
Moreover, DASWANI never filed an 8K for this supposed business deal with Vitol back in July. All there is is some British P/R.
For a reporting company that hasn't earned a penny, a business contract with a huge company is clearly a material event.
THERE'S NO EXCUSE FOR NOT FILING AN 8K UNLESS THIS COMPANY HAS SOMETHING TO HIDE!
DASWANI PAID $16.5k FOR 58% OF THE COMPANY
That amounted to 35 million shares. That means that the total value O/S would was worth about $30,000, at the time. A mere four months later, he sells 1.3 million shares into the float for $400,000. That doesn't pass the sniff test.
Moreover, DASWANI never filed an 8K for this supposed business deal with Vitol back in July. All there is is some British P/R.
For a reporting company that hasn't earned a penny, a business contract with a huge company is clearly a material event.
THERE'S NO EXCUSE FOR NOT FILING AN 8K UNLESS THIS COMPANY HAS SOMETHING TO HIDE!
SOMETHING SMELLS VERY FISHY AT: RNRG
The CEO buys 58% of the company, 35 millions shares, for just $16.5k in Dec. 2009.
then, just four months later, he issues 1.3 million shares for $400,000.
The company hasn't earned a dime; has an offshore holding company in the British Virgin Islands; and, oh yeah, a virtual office for its official business address.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57922421
WARNING! BE CAREFUL WITH RNRG
JUST READ THIS!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57922421