Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Yeah, nothing like convlict free diamonds on the horizian. I can see the billboards to - diamondwish is a nutbar
The plug is going to be pulled sooner than you think on this one.
When the heat is on and the aggravation too high you simply move on to the next herd of sheep with new sharp shears.
FOR IMMEDIATE RELEASE
Global Prospecting Ventures Completes Negotiations to Acquire Majority Ownership of Oil and Gas Partnership.
9/21/04
SAN FRANCISCO, Sep 21, 2004 /PRNewswire-FirstCall via COMTEX/ --
Global Prospecting Ventures, Inc. (OTC Bulletin Board: GPVN) Global is pleased to announce that it has now completed negotiations to acquire a 51% majority ownership of Layette Oil and Gas Partnership LP. Through the partnership Global will acquire a major working interest in a currently producing natural gas field under mineral land leases in Fentress County, Tennessee. The partnership will acquire a 100% working interest in the wells.
In a News Release dated September 1, 2004 the Company announced that upon completion of negotiations, it would drill and test, equip and open the production of five to ten new wells in the State of Tennessee, located within a current operating field sitting above proven oil and gas resources. The Company’s Gas production would be delivered through an existing pipelines network and will be sold to major gas distributors under an existing Gas Purchase Agreement. The new natural gas wells will be drilled, operated and maintained under contracts with Young Oil Corporation and under long term mineral land leases with property owners.
Young Oil Corporation of Kentucky will act as the Operator. Anthony Young, President of Young Oil, was named the Tennessee Oil & Gas Association’s Oilman of the year in 1999. Bill Goodwin, President of the Tennessee Oil & Gas Association said: “When we select an Oil Man of the Year, we are looking for that individual who makes things happen. Anthony Young is such a man. He is creating a boom because he drills lots of wells, has a great hit ratio and treats his investors and partners fairly. That is the reason he is so successful and that is the reason he received the award”. Mr. Young is the state’s recognized leader in shallow oil and gas discoveries and Young’s wells produce from depths of less than 1,500 feet and some at depth of less than 500 feet.
Young Oil Corporation is a privately owned oil and gas exploration and production firm with operations in Kentucky and Tennessee. Young utilizes its own drilling rig to drill all its wells. In 2002, Young Oil had the best productive well to dry hole ratio in the state, with 57 producing wells out of 72 drilled.
The Company plans to raise $900,000 through a Private Placement Offering of Two Hundred Convertible Debentures at $4,500 each. The Offering will be made in accordance with and pursuant to the provisions of Rule 505 of Regulation “D” promulgated under the Securities Act of 1933. This will cover the cost for the first five well drill program which is expected to be drilled before the end of the year. The Company plans to raise an additional $900,000 at the beginning of 2005 for the second five well drill program to be drilled early Spring 2005.
Net earnings are projected at $300,000-$500,000 in year One, which may be accomplished and reached within the next nine months.
The outlook for North American Oil and Natural Gas ("Gas") is extremely positive from an operation and investment perspective. Increasing US energy demands projected over the near and long term should sustain major gains for Gas and Oil producers in North America.
In a News Release dated September 1, 2004, Global announced a reverse split of outstanding common stock on the basis of one (1) for four (4) shares owned, with each resulting fractional share rounded up to the nearest whole share. The number of authorized shares of common stock was not affected.
The Company is now acting as its own Transfer Agent and has authorized Tayler & Associates to be responsible for stock transfers and regulatory compliance. Tayler & Associates: 1184 Denman Street, Unit 101, Box 616, Vancouver BC V6G 2M9, PH 604-685-7024, FAX 604-684-7024.
Shaun Spelliscy has resigned as President due to business commitments and other obligations. He will continue to act as a consultant to the Company. Judy Tayler is the acting new President.
Global's Land Holdings
Early 2004 the Company outlined an extensive diamond and gold exploration and drill program. Due to adverse financial circumstances, the Company was unable to provide adequate funding to maintain all lease options in a current status. Several of the lease options expired and have returned to the original owners.
Currently Global has secured over 4,480 acres of land favorable for diamond exploration and development in the Fort a' la Corne area of Saskatchewan and 1,000 acres of land in the La Ronge gold Belt favorable for gold exploration. Global's claims hold great promise for some significant economic discoveries of diamonds, gold and other precious and base metals.
Saskatchewan Diamonds: Global's three diamond claims: White Gull, Candle Lake and Birchbark, are centered in and around the Fort a' la Corne (FALC) forest which is the largest accumulation of diamondiferous kimberlites discovered to date in the world. This past winter Global joint-ventured with Garnet Point, whereby Garnet earned a 37.5% interest, by drilling the Candle Lake property. Our first drill hole on the Candle Property was unsuccessful. The Birchbark Target was surveyed using ground magnetics, and contains a strong magnetic anomaly which has not been drilled yet due to the spring thaw.
Saskatchewan Gold: The Cratty Lake Gold Property, (Claim S-101718) consisting of 1,000 acres, is located in the La Ronge gold belt within ten kilometers of three past producers -- the Star Mine and the Jasper Mine (previously owned by Cameco Corporation), and the Jolu Mine (previously owned by Corona Corporation). The property has been drilled before and exhibits targets that require further prospecting and geo-chemical sampling.
Website: We are revising our website to reflect current focus of the company. Please note we have a new website address: NEW website: www.globalprospectingventuresinc.com Old website: www.globalprospectingventures.com
This news release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby.
Investors are cautioned that certain statements in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors. Such uncertainties and risks include, among others, certain risks associated with the closing of the transaction described above, government regulation, and general economic and business conditions. Actual events, circumstances, effects and results may be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Consequently, the, forward-looking statements contained herein should not be regarded as representations by the Company or any other person that the projected outcomes can or will be achieved.
In compliance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, GPVI notes that statements contained in this announcement that are not historical facts may be forward-looking statements that are subject to a variety of risks and uncertainties and there can be no assurance that other factors will not affect the accuracy of such forward- looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.
For further information contact: USA Matt Hansen PH: 415-706-0993 CANADA Judy Tayler PH: 604-685-7024 email: info@globalprospectingventuresinc.com
SOURCE Global Prospecting Ventures, Inc.
in the U.S., Matt Hansen, +1-415-706-0993, or in Canada, Judy Tayler, +1-604-685-7024, both of Global Prospecting Ventures, Inc., info@globalprospectingventuresinc.com
http://www.globalprospectingventuresinc.com
Copyright (C) 2004 PR Newswire. All rights reserved.
FOR IMMEDIATE RELEASE
Global Prospecting Ventures Completes Negotiations to Acquire Majority Ownership of Oil and Gas Partnership.
9/21/04
SAN FRANCISCO, Sep 21, 2004 /PRNewswire-FirstCall via COMTEX/ --
Global Prospecting Ventures, Inc. (OTC Bulletin Board: GPVN) Global is pleased to announce that it has now completed negotiations to acquire a 51% majority ownership of Layette Oil and Gas Partnership LP. Through the partnership Global will acquire a major working interest in a currently producing natural gas field under mineral land leases in Fentress County, Tennessee. The partnership will acquire a 100% working interest in the wells.
In a News Release dated September 1, 2004 the Company announced that upon completion of negotiations, it would drill and test, equip and open the production of five to ten new wells in the State of Tennessee, located within a current operating field sitting above proven oil and gas resources. The Company’s Gas production would be delivered through an existing pipelines network and will be sold to major gas distributors under an existing Gas Purchase Agreement. The new natural gas wells will be drilled, operated and maintained under contracts with Young Oil Corporation and under long term mineral land leases with property owners.
Young Oil Corporation of Kentucky will act as the Operator. Anthony Young, President of Young Oil, was named the Tennessee Oil & Gas Association’s Oilman of the year in 1999. Bill Goodwin, President of the Tennessee Oil & Gas Association said: “When we select an Oil Man of the Year, we are looking for that individual who makes things happen. Anthony Young is such a man. He is creating a boom because he drills lots of wells, has a great hit ratio and treats his investors and partners fairly. That is the reason he is so successful and that is the reason he received the award”. Mr. Young is the state’s recognized leader in shallow oil and gas discoveries and Young’s wells produce from depths of less than 1,500 feet and some at depth of less than 500 feet.
Young Oil Corporation is a privately owned oil and gas exploration and production firm with operations in Kentucky and Tennessee. Young utilizes its own drilling rig to drill all its wells. In 2002, Young Oil had the best productive well to dry hole ratio in the state, with 57 producing wells out of 72 drilled.
The Company plans to raise $900,000 through a Private Placement Offering of Two Hundred Convertible Debentures at $4,500 each. The Offering will be made in accordance with and pursuant to the provisions of Rule 505 of Regulation “D” promulgated under the Securities Act of 1933. This will cover the cost for the first five well drill program which is expected to be drilled before the end of the year. The Company plans to raise an additional $900,000 at the beginning of 2005 for the second five well drill program to be drilled early Spring 2005.
Net earnings are projected at $300,000-$500,000 in year One, which may be accomplished and reached within the next nine months.
The outlook for North American Oil and Natural Gas ("Gas") is extremely positive from an operation and investment perspective. Increasing US energy demands projected over the near and long term should sustain major gains for Gas and Oil producers in North America.
In a News Release dated September 1, 2004, Global announced a reverse split of outstanding common stock on the basis of one (1) for four (4) shares owned, with each resulting fractional share rounded up to the nearest whole share. The number of authorized shares of common stock was not affected.
The Company is now acting as its own Transfer Agent and has authorized Tayler & Associates to be responsible for stock transfers and regulatory compliance. Tayler & Associates: 1184 Denman Street, Unit 101, Box 616, Vancouver BC V6G 2M9, PH 604-685-7024, FAX 604-684-7024.
Shaun Spelliscy has resigned as President due to business commitments and other obligations. He will continue to act as a consultant to the Company. Judy Tayler is the acting new President.
Global's Land Holdings
Early 2004 the Company outlined an extensive diamond and gold exploration and drill program. Due to adverse financial circumstances, the Company was unable to provide adequate funding to maintain all lease options in a current status. Several of the lease options expired and have returned to the original owners.
Currently Global has secured over 4,480 acres of land favorable for diamond exploration and development in the Fort a' la Corne area of Saskatchewan and 1,000 acres of land in the La Ronge gold Belt favorable for gold exploration. Global's claims hold great promise for some significant economic discoveries of diamonds, gold and other precious and base metals.
Saskatchewan Diamonds: Global's three diamond claims: White Gull, Candle Lake and Birchbark, are centered in and around the Fort a' la Corne (FALC) forest which is the largest accumulation of diamondiferous kimberlites discovered to date in the world. This past winter Global joint-ventured with Garnet Point, whereby Garnet earned a 37.5% interest, by drilling the Candle Lake property. Our first drill hole on the Candle Property was unsuccessful. The Birchbark Target was surveyed using ground magnetics, and contains a strong magnetic anomaly which has not been drilled yet due to the spring thaw.
Saskatchewan Gold: The Cratty Lake Gold Property, (Claim S-101718) consisting of 1,000 acres, is located in the La Ronge gold belt within ten kilometers of three past producers -- the Star Mine and the Jasper Mine (previously owned by Cameco Corporation), and the Jolu Mine (previously owned by Corona Corporation). The property has been drilled before and exhibits targets that require further prospecting and geo-chemical sampling.
Website: We are revising our website to reflect current focus of the company. Please note we have a new website address: NEW website: www.globalprospectingventuresinc.com Old website: www.globalprospectingventures.com
This news release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby.
Investors are cautioned that certain statements in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors. Such uncertainties and risks include, among others, certain risks associated with the closing of the transaction described above, government regulation, and general economic and business conditions. Actual events, circumstances, effects and results may be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Consequently, the, forward-looking statements contained herein should not be regarded as representations by the Company or any other person that the projected outcomes can or will be achieved.
In compliance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, GPVI notes that statements contained in this announcement that are not historical facts may be forward-looking statements that are subject to a variety of risks and uncertainties and there can be no assurance that other factors will not affect the accuracy of such forward- looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.
For further information contact: USA Matt Hansen PH: 415-706-0993 CANADA Judy Tayler PH: 604-685-7024 email: info@globalprospectingventuresinc.com
SOURCE Global Prospecting Ventures, Inc.
in the U.S., Matt Hansen, +1-415-706-0993, or in Canada, Judy Tayler, +1-604-685-7024, both of Global Prospecting Ventures, Inc., info@globalprospectingventuresinc.com
http://www.globalprospectingventuresinc.com
Copyright (C) 2004 PR Newswire. All rights reserved.
FOR IMMEDIATE RELEASE
Global Prospecting Ventures Completes Negotiations to Acquire Majority Ownership of Oil and Gas Partnership.
9/21/04
SAN FRANCISCO, Sep 21, 2004 /PRNewswire-FirstCall via COMTEX/ --
Global Prospecting Ventures, Inc. (OTC Bulletin Board: GPVN) Global is pleased to announce that it has now completed negotiations to acquire a 51% majority ownership of Layette Oil and Gas Partnership LP. Through the partnership Global will acquire a major working interest in a currently producing natural gas field under mineral land leases in Fentress County, Tennessee. The partnership will acquire a 100% working interest in the wells.
In a News Release dated September 1, 2004 the Company announced that upon completion of negotiations, it would drill and test, equip and open the production of five to ten new wells in the State of Tennessee, located within a current operating field sitting above proven oil and gas resources. The Company’s Gas production would be delivered through an existing pipelines network and will be sold to major gas distributors under an existing Gas Purchase Agreement. The new natural gas wells will be drilled, operated and maintained under contracts with Young Oil Corporation and under long term mineral land leases with property owners.
Young Oil Corporation of Kentucky will act as the Operator. Anthony Young, President of Young Oil, was named the Tennessee Oil & Gas Association’s Oilman of the year in 1999. Bill Goodwin, President of the Tennessee Oil & Gas Association said: “When we select an Oil Man of the Year, we are looking for that individual who makes things happen. Anthony Young is such a man. He is creating a boom because he drills lots of wells, has a great hit ratio and treats his investors and partners fairly. That is the reason he is so successful and that is the reason he received the award”. Mr. Young is the state’s recognized leader in shallow oil and gas discoveries and Young’s wells produce from depths of less than 1,500 feet and some at depth of less than 500 feet.
Young Oil Corporation is a privately owned oil and gas exploration and production firm with operations in Kentucky and Tennessee. Young utilizes its own drilling rig to drill all its wells. In 2002, Young Oil had the best productive well to dry hole ratio in the state, with 57 producing wells out of 72 drilled.
The Company plans to raise $900,000 through a Private Placement Offering of Two Hundred Convertible Debentures at $4,500 each. The Offering will be made in accordance with and pursuant to the provisions of Rule 505 of Regulation “D” promulgated under the Securities Act of 1933. This will cover the cost for the first five well drill program which is expected to be drilled before the end of the year. The Company plans to raise an additional $900,000 at the beginning of 2005 for the second five well drill program to be drilled early Spring 2005.
Net earnings are projected at $300,000-$500,000 in year One, which may be accomplished and reached within the next nine months.
The outlook for North American Oil and Natural Gas ("Gas") is extremely positive from an operation and investment perspective. Increasing US energy demands projected over the near and long term should sustain major gains for Gas and Oil producers in North America.
In a News Release dated September 1, 2004, Global announced a reverse split of outstanding common stock on the basis of one (1) for four (4) shares owned, with each resulting fractional share rounded up to the nearest whole share. The number of authorized shares of common stock was not affected.
The Company is now acting as its own Transfer Agent and has authorized Tayler & Associates to be responsible for stock transfers and regulatory compliance. Tayler & Associates: 1184 Denman Street, Unit 101, Box 616, Vancouver BC V6G 2M9, PH 604-685-7024, FAX 604-684-7024.
Shaun Spelliscy has resigned as President due to business commitments and other obligations. He will continue to act as a consultant to the Company. Judy Tayler is the acting new President.
Global's Land Holdings
Early 2004 the Company outlined an extensive diamond and gold exploration and drill program. Due to adverse financial circumstances, the Company was unable to provide adequate funding to maintain all lease options in a current status. Several of the lease options expired and have returned to the original owners.
Currently Global has secured over 4,480 acres of land favorable for diamond exploration and development in the Fort a' la Corne area of Saskatchewan and 1,000 acres of land in the La Ronge gold Belt favorable for gold exploration. Global's claims hold great promise for some significant economic discoveries of diamonds, gold and other precious and base metals.
Saskatchewan Diamonds: Global's three diamond claims: White Gull, Candle Lake and Birchbark, are centered in and around the Fort a' la Corne (FALC) forest which is the largest accumulation of diamondiferous kimberlites discovered to date in the world. This past winter Global joint-ventured with Garnet Point, whereby Garnet earned a 37.5% interest, by drilling the Candle Lake property. Our first drill hole on the Candle Property was unsuccessful. The Birchbark Target was surveyed using ground magnetics, and contains a strong magnetic anomaly which has not been drilled yet due to the spring thaw.
Saskatchewan Gold: The Cratty Lake Gold Property, (Claim S-101718) consisting of 1,000 acres, is located in the La Ronge gold belt within ten kilometers of three past producers -- the Star Mine and the Jasper Mine (previously owned by Cameco Corporation), and the Jolu Mine (previously owned by Corona Corporation). The property has been drilled before and exhibits targets that require further prospecting and geo-chemical sampling.
Website: We are revising our website to reflect current focus of the company. Please note we have a new website address: NEW website: www.globalprospectingventuresinc.com Old website: www.globalprospectingventures.com
This news release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby.
Investors are cautioned that certain statements in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors. Such uncertainties and risks include, among others, certain risks associated with the closing of the transaction described above, government regulation, and general economic and business conditions. Actual events, circumstances, effects and results may be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Consequently, the, forward-looking statements contained herein should not be regarded as representations by the Company or any other person that the projected outcomes can or will be achieved.
In compliance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, GPVI notes that statements contained in this announcement that are not historical facts may be forward-looking statements that are subject to a variety of risks and uncertainties and there can be no assurance that other factors will not affect the accuracy of such forward- looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.
For further information contact: USA Matt Hansen PH: 415-706-0993 CANADA Judy Tayler PH: 604-685-7024 email: info@globalprospectingventuresinc.com
SOURCE Global Prospecting Ventures, Inc.
in the U.S., Matt Hansen, +1-415-706-0993, or in Canada, Judy Tayler, +1-604-685-7024, both of Global Prospecting Ventures, Inc., info@globalprospectingventuresinc.com
http://www.globalprospectingventuresinc.com
Copyright (C) 2004 PR Newswire. All rights reserved.
DUCK!! more sunspots!!!
NO! Sunspots have apparently once again halted the diamond mining in the Corn a'la Cob diamondfields.
try seventh...
They failed to find diamond and their incredibly advanced technology failed to find the host rock of diamond, i.e. no kimberlite either...
The whole thing is a bust and all they have to show for their effort is the barren Carolyn.
Dowsing has a long and chequered history as was documented by Georgius Agricola in his book Metallica in the 16th century and has in some instances in certain conditions met with success.
http://academic.emporia.edu/aberjame/histgeol/agricola/agricola.htm
That is mildly retarded...
"Computer Assisted Geophysical System (CAGS)
this ?
http://www.garmin.com/products/etrex/
and this ?
http://www.blessedquietness.com/journal/housechu/dowsing.htm
The other Stunder is his son...
Is there no chance CMKX could get better?
i still can't believe dan heilman shaved his legs for this...
I hope something really heavy beans Gary Tuchman in the head.
That is as good as a mine announcement... congratulations to everyone!
Something positive may actually happen for CMKX yet. I don't believe I just said that...
The benefit is you can trade them anytime you want to. If ETrade says your shares are in your account you can believe them.
Then again if you take delivery of your certs you can hide them under your mattress so the evil shorters can't use them.
remember this post...
Ok...I called the office today and talked to Palma and Judy and here is what I found out!!!
Walter is for sure leaving tonight to go to the drill sight. It is a 1 (one) hour drive and then a 3 (three) hour flight to the drill sight.
****The equipment is leased out of Calagory, Canada. The Crew has been working 18 (eighteen) Hours a day drilling the 4 (four) drill sites trying to get them drilled and the samples taken and get it all done before Christmas. Now here is my question and thoughts.....I have been asking around and trying to find out about how much this equipment costs a day to lease with all the diamond drill bits needed. Also, I found out that these guys are probably (best estimated guest) getting about $100.00 a hour not counting overtime (have not confirmed this yet...tomorrow's phone call hoping to obtain more information....thoughts that I had after getting off the phone and dwelling on this all day).
---Now this is what I am wondering.....the cost of this equipment which probably had to be air lifted into the drill sites has to be a pretty penny....does anyone know how much or can you find out how much per day these diamond drilling equipment cost per day including the diamond drill bits needed and about how much the labor usually is paid per hour. If a CEO if going to spend this kind of money to get this done and opts to pay the big expense of the major overtime these guys are getting (the crew) for 7 days a week at 18 hour days....would you not think that Walter and his Geologist is pretty sure they have a very good chance of hitting a mine?
---Walter has been there already and going up tonight and tomorrow for sure to supervise this operation is the freezing cold.
****What are your thoughts on this? Now any of you guys that want to be panty waste and sit in your warm homes and type like a puss while this CEO is risking his life on a plane that could go down due to ice on the wings and be out in the freezing cold to supervise an 18 hour day drilling 7 days a week until it is done and hopefully before Christmas....you negative guys are whimps ....now get down to brass tax and start calling around and you will find out which company in Calagory Canada we leased the equipment and everything....WE CAN FIND THIS OUT.
****Now internet search and/or expert opinion on this please. Any questions that we cannot answer that I need to ask tomorrow to Judy?
http://www.investorshub.com/boards/read_msg.asp?message_id=1966841
Approximately 80% of mineral rights are owned by private individuals or companies (freehold), the remaining 20% are owned by the Crown in Saskatchewan in the far south.
Where CMKX is located and where anybody can stake by filing a paper application the mineral rights are 100% owned by the Crown.
The claims Urban optioned (he did not stake anything) was just moose pasture on the periphery of the known play plus the small barren kimberlite he picked up from Walker.
If it sounds too good to be true it probably is.
None of the minerals are privately owned. You simply fill out an EM-409A and away you go.
http://www.ir.gov.sk.ca/Default.aspx?DN=3453,3452,3451,3385,2936,Documents
Rumor only but you should bring at least a six pack.
CNDD - SEC Opens Concorde America Investigation
By Carol S. Remond
A Dow Jones Newswires Column
(This article was originally published Friday)
NEW YORK (Dow Jones)--The Securities and Exchange Commission has begun an
investigation into the issuance of promotional press releases about Concorde
America Inc. (CNDD) and a sharp jump in the company's stock price.
Concorde America President Hartley Lord said the SEC has subpoenaed various
records of the company, including incorporation papers and stock transfer
sheets. Lord said he would meet with the SEC in Miami on Monday.
Meanwhile, Tom Heysek, a newsletter writer who penned a glowing report about
Concorde America, said he also has talked to securities regulators and provided
them with information.
Concorde America has been the subject of two recent "In The Money" columns
that explored unusual trading in the company's stock and the odd circumstances
surrounding the issuance of two promotional press releases over the past month.
One column also noted how some investors who bought 10 million shares of the
company for 10 cents a share this summer could have made millions of dollars if
they sold their shares. The company, which has no real business yet so to speak,
has a market capitalization of about $1 billion.
The two press releases touted the company's business prospects and appeared to
have been issued by Concorde America. The releases were distributed nationally
by PRNewswire. Concorde's Lord said he did not authorize the release of the
press releases. But promoters who received shares of the company continue to
aggressively tout the stock online and through faxes.
The company was created about seven weeks ago through a merger with a shell
corporation called MBC Foods Corp. Concorde America's business plan is to hire
people in Latin America to send to Europe as migrant workers.
"The SEC is doing a full-scale investigation here," Lord said. "They want to
know who put out these bogus press releases, who paid for them," he said.
Lord and Heysek have somewhat different versions of discussions that took
place between the two of them prior to the company going public.
Lord said he talked to Heysek once "8 or 9 weeks ago."
In an interview, Heysek first said he had spoken with Lord a couple of dozen
times. He later amended that to say it was too many calls to have an accurate
number but that it was certainly more than one.
Heysek's bullish report on Concorde America's business prospects appears on
USPennyStocks.com and WinningStockPicks.net, with a $30 and a $38 target stock
price. But he said that the research report he sent to subscribers in mid-July
contained a target price of $6.
Heysek said he had provided the information and "confirmation of all material
that went into the research report" to the SEC.
"The issue is whether management was less than truthful in June and July (when
talking) to our people or less than truthful on Aug. 11," Heysek said, referring
to a Aug. 11 press release in which Concorde America said that two previous
releases were not authorized by the company and that neither the company, nor
any company official provided any of the information contained in the two first
releases.
Heysek said he provides writeups about companies to subscribers weekly or
biweekly. He said he received no Concorde America stock for his research and has
no idea why the two promotional websites picked up his report. While he said he
had no relationship with the websites and has no control over their content, the
two sites do carry similar biographical information about Heysek as well as his
photo. "They publish our stuff and get the membership going," Heysek said.
There are some 213 million shares of Concorde America stock outstanding, but
203 million of those are restricted, which means that they have little immediate
value since they cannot easily be sold or transfered.
Lord said that 10 million free trading shares were issued to a group of
investors in late July at 10 cents a share. Lord declined to provide information
about the identity of the stockholders other than to say that they are
corporations.
Lord said that a consultant named Donald Oehmke introduced him to a lawyer
named Jeremy Ross who "had the (due) diligence file" on MBC Foods, the public
company into which Concorde America was reverse merged in late June.
Heysek said he doesn't know Oehmke, who did not return phone calls.
Concorde America's stock was trading at $4.70, up 41 cents or 9.56% on volume
of 317,507 shares.
(Carol S. Remond is an award-winning columnist and one of four who write the
"In The Money" feature. Most recently, she shared a 2003 Best of Business Award
from the Society of Business Editors and Writers for her role in Dow Jones' team
coverage of the Canary Capital mutual fund trading scandal.)
-By Carol S. Remond; Dow Jones Newswires; 201 938 2074;
carol.remond@dowjones.com
(END) Dow Jones Newswires
23-08-04 1130GMT
There is some good news today. The party venue and head office for CMKX is moving to a place more compatible with the expectations of its shareholders!
http://disneyland.disney.go.com/dlr/index?bhcp=1
whatever...eom - what does oem mean
If you say so...
Of course they don't analyze diamonds in the field - they make a determination if the rock they drilled is kimberlite.
If you were a little more intelligent you would be curious if they actually hit kimberlite rather than being worried if they can analyze diamonds.
I would guess depending on how many holes are being drilled and building in some costs for problems that $20,000 to $35,000 would be in the ball park.
Analytical costs can run from a few hundred dollars to tens of thousands of dollars. Identifying kimberlite is done by the geologist in the field and not at a lab.
I think the drilling permit is no more than $100 (from memory) and this is basically a promise that you clean up any timber you knock down to build a road and a promise to abide by conditions set for the area which includes cleaning up camp garbage and removing fuel drums etc.
No the core does not have to be split and analysed before you know these particular results.
The results everyone wants to know is did they hit kimberlite in their latest attempt.
Everybody on site including the guy driving the water truck knows what kimberlite looks like.
"Even the roughnecks don't know what is being recovered.
The drill crew usually know hours ahead of anybody including the geologist that is usually drinking beer in his tent.
Roger Glenn has already sent me a demand letter.
dreamrchaser,
isn't there other drill rigs on the drilling site represented by other companies. yes
What do you mean by saying they don't have the capabilities of exploring different minerals. #1 there are no other minerals to explore for that can be reached by a small ddh rig.
And aren't there more than one geologist at the drill site.
yes
Have you done and dd? yes
The estimated depth to target was about 300 feet so if they did not hit by that stage they sure as hell would not hit by 800 feet hence, "there is no need in drilling further".
If they hit at 300 feet they might have drilled out of it by 600 or 700 feet a la oreo cookium syndrome being in play.
They may have hit kimberlite - one thing for sure they know what they hit this a.m. and are sitting on it. There are no other minerals in FALC outside of what will be found in kimberlites which are diamonds.
The other great minerals you refer to are in the precambrian basement rocks 5280 feet down and they don't have the capability of exploring those with the small rig being used right now.
It should take the geologist 5 seconds to make a field identification of the core as kimberlite or not. The geologist has been on site for 2 days.
No, I registered as my alter ego...
http://www.doctormacro.com/Images/Miranda,%20Carmen/Miranda,%20Carmen_02.jpg
I registered TSX as Fipke.
The diamonds could have been wind borne contaminant they were so small.
That was me - it was just a prank... sorry