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gump
Here's part of the filing that's informative.
The Smeaton-Fort a la Corne Saskatchewan Diamond Prospect
On October 20, 2005, the Company announced a series of property option (earn-in interest) agreements (the “Saskatchewan Property transactions”) with CMKM Diamonds Inc., United Carina Resources Corp. and 10104075 Saskatchewan Ltd. (a private company) (“1010”), whereby the Company assumed the earn-in rights to properties optioned to CMKM. One such property is termed the Smeaton/Forte a la Corne/Green Lake Diamond prospect (the “Smeaton Property”).
The Smeaton Property consisted of a 1.5 million acre parcel of claims (most recent claim status, from Saskatchewan Industry and Resources received June 28, 2007, is referenced as an appendix to this 20-F: Smeaton Claim 06-2007), Previous to the Entourage-CMKM agreements, CMKM and 1010 had flown an airborne geophysical survey of the Smeaton Properties. The Company’s geologist, James Turner, P. Geo., reviewed the results of the survey and reported to the Company that 20 priority diamond targets existed on the parcel, but in light of the $12 hectare maintenance fees payable, certain of the claims should be allowed to lapse for lack of potential. The present parcel remains at approximately 500 claims (200,000 hectares) but will eventually reduced to only those claims that contain mineralized potential. 10104075 Saskatchewan Ltd. is the operator of the Smeaton Property.
In December 2005, the Operator commenced drilling on a priority target on the property. The drilling encountered kimberlitic rock at approximately 530 feet and continued in kimberlite for over 300 feet eventually ending in dolomites at about 900 feet. An independent kimberlite expert, Harrison Cookenboo, (PhD, P. Geo.), a qualified person, reviewed initial samples and concluded:
“both pieces of core are in most respects closely similar to macrocrystic serpentine calcite kimberlite, but with some atypical features for kimberlite “sensu-stricto”, and suggests that the examined samples are best referred to as kimberlite or a closely related “kimberlitic” rock type with the potential for carrying diamonds”.
On January 10, 2006, the Operator informed the Company that the first drill target (Target: C-Gpp) on the Smeaton Property had been completed after encountering difficult drilling 1000 feet into the target. The hole finished in dolomites and the Operator decided to drill the second hole 30 meters to the northwest where geo-physical data implied that the center of the kimberlite may be situated.
The kimberlitic rock from the first drill hole was sent to Saskatchewan Research Council for caustic fusion and micro-diamond analysis. The kimberltic rock did not yield any micro-diamonds however chromites were found in the drill core. In 2006, the Company expended $32,481.40 on the Smeaton prospect bringing the total expenditures to $233,111.00 for years 2005 & 2006. The Smeaton project has 20 priority targets to be investigated and as of the date of this report has examined four of these targets.
There has been no additional work done on the Smeaton claims subsequent to the Company’s drilling of January 2006. The Company has requested of 1010, all information on the Smeaton claims so that a compliant NI 43-101 Technical Report could be commissioned for the Smeaton claims however 1010 has not responded to these requests. The Company considers these claims as non-operational until such a report can be completed.
Under the terms of the October 20, 2005 agreement (and subsequent amendments) the Company must, on or before November 15, 2010, expend a minimum of $2,500,000 in exploration expenditures, of which $2,267,000 remains to be spent, (or issue an equivalent amount of stock in the Company based on the 20 average price of the stock prior to the issuance) on the property to earn an 80% interest in the Property. There were no minimum annual expenditures or exploration requirements that are required to keep the option in good standing.
10
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In early 2006, the Company advised 1010, which acts as the Operator of the Property, that it would not participate in any exploration by 1010 unless the exploration was conducted in accordance with NI 43-101 and mining best practices. “1010” nevertheless proceeded to perform work on the Property and, on March 26, 2006, sent invoices to the Company totalling $280,122.53.
The Company believes that it is not liable, under the terms of the Agreement or in any other way, for these invoices and has so advised 1010, most recently in its letter to 1010 dated April 27, 2007. To date, no collections or other proceedings have been commenced by 1010.
There is, however, the risk that 1010 might commence collections or other proceedings. In that event, while the Company would vigorously defend its position that it is not liable in any way for funds claimed pursuant to the invoices, there is the risk that a proceeding by 1010 could be successful. The Company cannot assess the probability of that risk and accordingly, the likelihood of loss, if any, is presently not determinable.
The Company issued 33,888,888 shares of the Company stock as consideration for the purchase of the Smeaton claims. 30,000,000 (thirty million) of these shares are to be distributed to the CMKM shareholders but these shares have not been distributed at this time and there is no indication when, or if, these shares will be distributed.
gump
The Entourage filing tells it all as far as the claims value.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 20-F
[ ] REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
[ x ] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2006
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _______________ to _______________
Commission file number 000-50305
Thanks TSX
I figured they were putting a promotional machine together. But I couldn't figure out what potential the properties actually had. I've owned BVT in the past as a consolidated shell but I cleared out most of the shares last spring. Waiting to load up again once I figure out where bottom is. I was curious about the Saskatchewan Syndicate since I've come across them a few times in the last year.
thanks
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TSX
I'm pretty sure that they are uranium claims. I haven't got around to checking the location of the claims yet since my wife reminded me that I'm suppose to be on holidays this week. I got curious when I noticed the amount of shares and cash they received for the claims. BVT has also hired two IR firms who have made me money in the past. I have a feeling this one is ramping up for a decent promotion sometime this coming season.
http://www.stockwatch.com/swnet/newsit/newsit_newsit.aspx?bid=B-714109-C:BVT&symbol=BVT&news...
2007-08-14 17:51 0.57 Property Agreement Bonaventure agreement for Saskatchewan claims
2007-08-01 12:56 0.65 News Release Bonaventure Enterprises hires two IR firms
2007-07-31 09:02 0.63 Resume Trading Bonaventure Enterprises to resume at 6:30 a.m. PT
2007-07-30 14:32 0.63 News Release Bonaventure to acquire Four Lake project
2007-07-25 13:19 0.52 Halt Trading Bonaventure Enterprises halted at 10:18 a.m. PT
TIA
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puppydotcom
It's actually an amazing scam , especially the way the following has continued on so long. I've been told that PCBM has been around longer, but this one has an life of it's own. I've seen a lot of scams on the CDN markets since the mid 1990's but this one is in a class of it's own. It's just amazing the number of people who have bought shares of CMKX even after the company was revoked.
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Hello TSX
Do you know if there's any potential in the claims mentioned below ? I've been keeping an eye on them . I smell a promotion coming with this one sometime this year.
TIA
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" The TSX Venture Exchange has accepted for filing documentation with respect to a sale and purchase agreement dated July 25, 2007, between Bonaventure Enterprises Inc. and the Saskatchewan Syndicate (Matthew Mason and Timothy Young) whereby Bonaventure has acquired a 100-per-cent interest in 127 mineral dispositions located in Saskatchewan "
puppydotcom
I actually feel sorry for a lot of those people. Many are just average people who made their first investment in the markets with little knowledge of how the markets work. I believe it time to put and end to this sordid mess .
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nufced
Koch from Canada. One interesting point from the call was that Entourage apparently owes Koch $600,000.00 for exploration work which was never paid for. He also stated that Urban is broke, and that Koch wished that he had never become involved with the sordid mess.
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nufced
I actually saved a text file of the Paltalk session yesterday concerning the poster's call to Koch. But it's at my weekend residence and I won't be back there until Friday. I could send you a copy then.
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hasher
Nope Acca's still at it. I just listened to his spiel from last night on Paltalk. They still believe everything that dope has to say. But they bashed a long time poster on Paltalk who actually spoke to Koch yesterday and found out some less than positive info about Urban and the claims.
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puppydotcom
I'd really like to know why Frizzel won't take legal action to put a stop to Acca's activities . I'm quite sure that there's legal grounds to end his cruel misleading of the shareholders and even the slander towards Frizzel himself.
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puppydotcom
There's a rumour that some group has been flogging CMKX paper around the Ontario, Manitoba border. It's interesting that one of the latest guru's is located in that general region.
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TSX
I agree with you that US non-reporting pennies are crap and should be done away with. As far as the CDN juniors go , all I care about is how many shares outstanding and can I buy my shares close to the price insiders do the private placements at. Those rules basically allow me to make money on 90% of the CDN juniors that I hold.
I have made some huge profits on US pennies in tha past and figure I have one more to come fairly soon. But then I'm done with them and will move back strictly to CDN trades were I don't have to watch by the minute for the release of those nasty convertible debentures.
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TSX
Actually we wouldn't have much CDN junior exploration if they didn't have access to the capital markets. Granted many CDN juniors here in Canada are just paper salesmen. But it's the one out of the thousand that often finds the next potential motherload that the big boys latch on to and develop. So goes the old saying " definition of a mining company ? about bunch of liars standing around a hole in the ground. " They serve their purpose , they just leave a lot of victims along the way.
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puppydotcom
I'd like to know how Frizzy and West had the legal right to take over the company since Urban has so little shares as stated in the update.
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puppydotcom
It's been slow this week trading juniors, so I've been listening to those bozo's. Thanks for the suggestions for getting back on Paltalk. That CMKX Intl room has to be controlled by paid hacks , no one can be that removed from reality.
thanks
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puppydotcom
I was just listening to that Ines100 character on Paltalk. Talk about a dumbbell trying to defend her source Acca. There's a poor fellow asking questions and getting beaten down by dumbbell and some nit who goes by the username Ubetcha_54 .
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nufced
But who was the pops that Walters discussed and brought on to the phone ?
TIA
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puppydotcom
I'll give it a try.
thanks
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janice
Been thinking the samething. Someone's concerned that secrets could come to the surface.
I also wonder if Frizzy is really serious about going after these crooks. Seems like too little, way too late.
" Edwards and his people do not want her in prison because they think she will crack. "
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puppydotcom
Does anyone know the work around to get off a Paltalk Room banned list ?
TIA
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pantherj
God, I'd love to take those clowns Roddy ,Acca, Ines and a few others out to the backyard for a good thumping. I can't stand liars who prey on the less informed.
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gump
Did you see the Bre-x verdict today. Absolutely amazing that he got off!!!
http://www.canada.com/nationalpost/news/story.html?id=0f747d7a-278e-4a18-bab6-eb0ee7af1d5b&k=929...
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gump90
Makes me wonder if there's just a tiny bit of truth in what Acca has said about Frizzy. Enought of a speck that Frizzy knows he would be on thin ice taking legal action. Even the biggest liars often mix a little fact into their spiel.
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gump90
You would expect that someone would pull the plug on Acca. I can't understand why someone close to the scheme wouldn't have by now gained some morals and put an end to this bullsh_t. Acca has to have an disorder not to expect one of the loonies to come calling when this is all over.
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Hello gump
KimberX's website certainly wasn't very informative when I looked month or so ago.I also found it strange that they made no mention of their insiders. Got me thinking that maybe some of the CMKX cronies were cooking up a new scheme.
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Thanks TSX
It's strange that you found the info at Pinksheets recently since I was sure that I had checked Pinksheets about a month ago. I'm not sure if it's the same James Neil, but I own shares in a shell (TIA) on the TSX Venture who has a James Neil as an insider.
thanks
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TSXminer
Well you answered the question I've been wondering about. They sure had been secretive about who the insiders were of the company.
thanks
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Hello TSX
Seems that Koch also wanted someone close by to keep an ear to the ground. 2003 wasn't going too well and the folks in Sask. were real concerned about Urbans activities.
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rics1997
I don't have a problem with shorting, but I do expect it to be backed with legit borrows against the current O/S . Here in Canada what I don't approve of is shorting against restricted stock or private placement shares that are still on hold. Also what really pisses me off is shorting that's not backed by borrows but is slipped through and concealed by house swapping at month ends. If I buy into a company with 16 million shares O/S I expect it to be shorted against a 16 million O/S. And yes gump90 is correct it does happen here in Canada and it isn't an even playing field or a benefit to the markets.
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janice
Maybe that's where Kurt has been working secretly.
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janice
When I was driving through an area of Toronto on my way to get some custom parts for my sports car I could have sworn that I drove by an building with that name on it. It was some kind of place of worship and the name seemed very similiar.
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janice
Do you know if The Dominion of Melchizedek (DoM) actually had any so called places of worship in different cities ?
Thanks
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HndtoHnd
Gary Walters certainly isn't an choir boy as we know he's an known felon. But he's not the big league were violence is part of the game . He's a typical white collar criminal who knows the implications of Edwards circle. Edwards cronies seem to play hardball that most white collar criminals prefer to avoid.
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gump
Dale Hoffman was an intersting character and certainly old school. You had to watch his stocks closley since he did actively trade them. But you could always depend on him having at least one promotion per year. And most importantly he did spend the money on drill programs.
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gump90
What's the connection to SUV.V at the start of the Melvin MP3 ? I've been loading up with SUV.V for the last month at the bottom before Walker begins a fall program. That stock has always made me money since Hoffman's days at the reigns of the old symbol KPG.
Melvin's alright , just a country local who's out of his league. Has no idea about security regulations. But has an interest in mining stocks and lives near the main area of activity in Sask.
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Thanks gump90
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Thanks HndtoHnd
I'm curious if it was around the time that I knew the Casavant family had dried Urban out for a while.
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gump
Which website was Melvin on last night ? I'm curious what he was going on about.
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HndtoHnd
I'm curious which Paltalk room you had the discussion with Gary Walters ?
Also do you know the approx. date that the poster davidjmar was suppose to have alerted Urban to the closet selling by Edwards and friends ?
TIA
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