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How can you make a payment based on a smelting fee if there has not been any smelting prior to this? And if there has been no smelting before now how can Mexus be in default?
Seems to me more plausible that a few of us think MarMar/Mexus has now reached the stage of smelting and your supposed proof of payment coincides and leads credence to that theory.
I see your supposed proof as not bad but as a good thing possibly providing evidence of the company producing gold!!
Thanks for the supporting documentation.
By the way, you can see details of the land purchase agreement in the company's SEC filings.
Please show me proof of any additional agreement outside of that you are referencing...
G
Dino...why would you guess it's the profits split 50-50. If true then we MXSG are in effect paying/funding for half the mine operations...not what the PR says.
groveswise
I am for one...
G
you base that on what...7000 shares sold in a whole day of a 14 cent stock?
G
This is new...
"Please note that the Company intends to schedule a shareholding meeting this summer and will provide more information as it becomes available."
G
Yep...I saw that this afternoon. If true...fantastic for us!!!!
One can always dream :)
I hope Debbie knows what she's speaking about.
G
that calc is based on a bogus number in the pr. no way is 1.5 accurate.
Just a point for those of you who may be new to MXSG...last summer/fall when just one investment letter recommended buying Mexus the shares zoomed to 48 cents per share in a couple days from these levels.
So stay alert to the possibility of sudden jumps in share price!
G
Did you notice at the end in the disclaimer where they state they shorted the stock before they published the article?
To bad the price closed up!!!!!!!!!!!!!!!!!!!!!!!!
Hope they lose money big time.
G
Mexus Gold US Cable and Mining Updates
CARSON CITY, Nev., Aug. 22, 2011 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) is a company engaged in the evaluation, acquisition, exploration and development of mining properties and conducts salvage operations for the recovery of precious metals.
Cable Update
Mexus automated cable pulling equipment is working as planned and is pulling cable approximately 150 miles north of Ketchikan, Alaska. The cable recovery equipment will remain in operation through November 2011. The Mexus cable surveying boat is working 200 miles north of the pulling operation gathering information and locating additional cable along with mapping. Ken Setters and native diver Henry Larsen will remain in Alaska with the survey equipment gathering additional information for the future of Mexus Submarine Cable Pulling operations.
Mexico Mining Operations Update
Mexus has drilled and completed its deep 8" diameter water well and has tested its new piping system in Caborca, Sonora State Mexico. The last of Mexus gold recovery equipment has cleared Mexican customs and is being set up at this time and should be in production as soon as September 1, 2011.
Mexus has completed necessary work and has mined a small quantity of silver ore at the 8 Brothers mine site. At this time, Mexus is awaiting a blasting permit for the 8 Brothers project. Elias Badilla, Mexus person in charge of the 8 Brothers mine site states that although difficult to obtain, the blasting permit will save Mexus time and money for years to come. Elias ensures Mexus that the permit will be issued soon.
President Paul Thompson states that Mexus Gold US is moving forward with its Gold/Silver mining projects and believes that when Mexus completes its building of a sound foundation, the future of Mexus will be assured.
http://www.msnbc.msn.com/id/44225463#
Not at all. Right now there is a concerted effort to squash this stock. However, it is what it is...in other words, when the increased totals start being reported and the plan plays out the evil doers won't be able to keep the price down due to increased volume to the upside. And this summer/fall period will see if the plan plays out.
This is actually a great time for long time outlook investors to accumulate more.
G
Dividends go up 25%.
Here we go...dividends starting to go up! What we've been waiting for as more and more metal processed. That's a dividend price increase of 25%.
Gold Resource Corporation Declares and Increases Tenth Special Cash Dividend
Gold Resource Corp. Common Stock (AMEX:GORO)
Intraday Stock Chart
Today : Thursday 28 April 2011
Gold Resource Corporation (GORO) (NYSE Amex: GORO) is pleased to announce it has declared its April Special Cash Dividend and increased it to $0.04 per common share to its shareholders of record May 13, payable May 20, 2011. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico.
Gold Resource Corporation commenced Commercial Production July 1, 2010 from its El Aguila Project's operations in the southern state of Oaxaca, Mexico. Using cash flow generated from operations, the Board of Directors declared its tenth dividend in as many months of commercial production. This tenth Special Cash Dividend is the fourth dividend per common share declared in 2011 and increases the total dividends declared since Commercial Production to $0.31 per share.
Gold Resource Corporation's President, Mr. Jason Reid, stated, "We remain focused on cash flow, dividends and returning as much money back to the owners of the Company, its shareholders. We are pleased with the progress of processing our Arista underground ore."
G
There's a few posts a day.
G
You could be right. However, on the flip side I have seen other companies already come up with majorities just by contacting those with enough shares to get a majority...could be insiders or large public shareholders of record.
The point I was making, which you did not comment on or deny, is the misrepresentation of what the official PR stated, with the poster fraudulently posting something different apparently so to coincide with his point of view.
I thinks that's wrong. There's seems to be enough smoking guns here to raise concern without lying about the company.
G
Sco-jo...
Not to quibble, and not to say this is or is not a scam...you state in your post " Al-Dorra now owns “an aggregate of over 55% of the…shares in the company”". This is not what the PR stated.
The PR stated "In further news, the holders of an additional One-hundred and three million (103,000,000) shares of common stock have agreed to tender their common stock in favor of the Al-Dorra buy-out and its subsidiary Hail First Pharma. This represents, in addition to management's shares already committed, an aggregate of over 55% of the issued and outstanding shares in the Company".
I read this as 55% of shareholders have agreed to support the buyout plan...not that Al-Dorra or subsidiary own those shares.
How am I wrong?
G
Same as always.....print shares, reward insiders, reverse splits, print more shares, milk it til it's dry, then change the name and industry again.
Why would you think the same people involved in the company would do anything different?
G
Jefferies Starts Gold Resource Corp (GORO) at Buy, Price Target $45
January 5, 2011 9:45 AM EST
Jefferies initiates coverage on Gold Resource Corp (NYSE: GORO) with a Buy rating and a price target of $45. The company is an an emerging gold and silver mining producer that has a strong production growth and cash flow profile. They find the company's business model very unique with founders/insiders owning 20% of the the company. Management has reported that their goal is to distribute at least one-third of excess cash flow to common shareholders on a regular basis. This is very rare for an emerging company in the mining sector to focus on returns of capital for shareholders. Jefferies has EPS/revenue estimates for FY10-12 of ($0.35)/$21.3M, $1.25/$135.2M, and $2.50/$275.3M.
For more ratings news on Gold Resource Corp click here and for the rating history of Gold Resource Corp click here.
Shares of Gold Resource Corp closed at $27.60 yesterday, with a 52 week range of $8.52-$24.75.
http://www.streetinsider.com/New+Coverage/Jefferies+Starts+Gold+Resource+Corp+%28GORO%29+at+Buy%2C+Price+Target+%2445/6197421.html
Might want to load up on the June 30-35 call options!!!
G
Me too...been buying June GORO $20 calls since options started trading in GORO this fall.
I've collected 112 of the GORO JUN 18 2011 $20 calls with an average buy in of $2.48
Unless something catastrophic happens, that's 112X100X20=$224,000 received for an investment of
112X100X$2.48=$28,000
That's darn close to 10 times the initial investment vice the double made on GORO stock price alone going from 20 to 40.
As Orion states....if Goro ends up below (for me) $20/share come next June, then bye bye $28,000 initial investment.
Great way to play GORO though if your pretty sure it's going up.
G
Nice recap on GORO from Peter Spina, founder of Goldseek.com
Gold Resource Corp. – Ultra Low Cost Producer, Soon to be the highest dividend paying gold stock?
NYSE-AMEX: GORO | www.GoldResourceCorp.com
One of the most incredible gold and silver success stories in recent years. Gold Resource Corp. is discovering what appears to be a very young and large epithermal system in southern Mexico. With production slated to increase in the coming year+ to 200,000 gold equivalent ounces with a $0 cash cost, the very high-grade gold, silver and base metal deposit is rewarding investors with share appreciation.
Since 2006, I have continued to make GORO my #1 gold stock pick. Why? I simply haven not been able to find a better team, asset and gold/silver company structured (and developing) the way this company is. More recently, the company completed a $55 million placement to accelerate production, exploration and expand the mill by 50%. Which could mean the company is now targeting another ramp up to 300,000 gold equivalent ounces per year production with a $0 an ounce production cost.
With fewer than 55 million shares, the company remains a terrific opportunity going forward. A total of 4 consecutive monthly dividends have already been announced (3 cents per month) and more are expected in the months ahead. Assuming a continuation of 3 cents per share and using a 1% dividend yield, that would mean GORO should be valued at $36 a share – the same initial price target Gold Stock Analyst John Doody made in October when making Gold Resource Corp. one of his Top 10.
What other gold producers are paying in dividends and yields:
· Low Cost Gold Producers:
o Goldcorp ($46): $0.36 | 0.80%
o Gold Resource ($23) $0.36+ | 1.65%*
o Agnico Eagle ($80): $0.18 | 0.20%
o Yamana Gold ($12): $0.08 | 0.70%
*assuming $0.03 a month continuation.
· Senior Gold Producers:
o Newmont ($62): $0.60 | 0.95%
o Barrick Gold ($50): $0.48 | 0.95%
o Goldfields ($17): $0.19 | 1.10%
o Randgold ($98): $0.15 | 0.20%
o Harmony Gold ($12): $0.14 | 1.10%
o Kinross ($19): $0.10 | 0.50%
Average yield among all gold producers is 0.72%.
GORO would require a $50 share price to match this average yield (assuming $0.36/share per year dividends).
AND it should get even better, as production and cash flow increases, management will continue to target 1/3 of cash flow in form of dividends. Assuming 200,000 ounces per year at $0 cost, which could turn out to be over $1.50 a share in dividends per year – or roughly 4 times the current monthly amount! Take annual production up to 300,000 ounces/year with gold at $1,400 an ounce, this should generate over $2.50 per share in yearly dividend payments.
Last week GORO announced they have intercepted the Baja vein, one of the two initial veins to be mined. Ore stockpiling will occur in the “near term” and ensures a seamless transition into a much more profitable phase of the mining operations. As production increases from underground mining following completion of the roughly 70,000 ounces of open gold pit mining in 2011, GORO should become the largest gold dividend paying stock!
As I mentioned in July, I believe GORO is in the process of being revalued higher -- and that report was made under now outdated assumptions. Now with the accelerated development of the mine, this continued production growth and upside from aggressive exploration provides GORO with the growth momentum to continue to outperform the gold bull market. GORO will continue to be my #1 holding.
This is great news!!!!!!!!!!!
Gold Resource Corporation Intercepts Baja Vein
Gold Resource Corporation (GORO) (NYSE Amex: GORO) is pleased to update shareholders that underground development work at its La Arista vein system deposit has reached and intercepted the Baja vein. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico.
Gold Resource Corporation commenced development of its Arista deposit's underground mine on February 22, 2010. La Arista is a polymetallic deposit with high-grade gold and silver with by-product credits of copper, lead and zinc. The Arista Vein system is made up of multiple en echelon veins with the two predominant veins being the Baja and the Arista veins.
Gold Resource Corporation's President, Mr. Jason Reid, stated, "This first cross-cut and look at the Baja vein exceeded our expectations. We expected a two to three meter wide vein at this level, but were quite pleased to have revealed a solidly mineralized structure six (6) meters wide at the point of interception (see photo). Several samples were rushed to the Company's lab with the highest returning 14.6 grams per tonne gold and 2,300 grams per tonne silver, plus base metals, over 1.5 meters. Though these are just preliminary samples and not an anticipated average grade, we are extremely pleased with the indication of such high-grade. The vein is now in the process of being sampled systematically and in detail."
Having reached the Baja vein, development of the first cross-cut is presently continuing East targeting to intercept the parallel Arista vein at an estimated 30 meters. Once exposed, the Arista and Baja veins are scheduled to immediately begin being mined using the cut and fill method. As the Company drives down both veins in each direction, initially providing 4 working faces, stockpiling of the polymetallic ore will become another milestone in the Aguila Project's history.
Mr. Jason Reid continued, "We have always viewed the Aguila open pit ore, currently being processed at our mill, as providing short-term cash flow for developing the long-term La Arista deposit. The Arista deposit is the heart of our project, and we are very impressed with the size and grade of our first look at the Baja vein."
The Arista vein system's mineralization remains open both laterally as well as at depth with potential to provide additional years beyond the Aguila Project's current mine life estimate of 9 years. The Company targets processing polymetallic Arista ore on or before July 1, 2011.
Gold Resource Corporation believes revenues from the base metal content of the ore, when used as by-product credits, could fund all cash costs of the operation. Consequently, the Company's medium term targeted 200,000 ounces of precious metal gold equivalent per year could potentially be produced at "zero" cost.
Mr. Jason Reid stated, "The near term stockpiling of La Arista ore will assist us in making a seamless transition from processing the Company's El Aguila open pit ore, presently being mined and milled, to the much higher grade Arista underground ore."
About GRC:
Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company has 100% interest in five potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The company has 52,998,303 shares outstanding, zero warrants and zero debt. For more information, please visit GRC's website, located at www.Goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.
This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Gold Resource Corporation's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that production will continue at any specific rate. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the company's 10-K filed with the Securities and Exchange Commission.
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=1411675
Contact:
Greg Patterson
Corporate Development
303-320-7708
mrfence;
What dividends have been put in your account? When were these dividends issued?
G
Hyperdynamics Signs Lockup Agreements with Major Shareholders
Hyperdynamics Corporation (NYSE Amex: HDY) today announced that it has reached lockup agreements with Kent Watts, former Chairman and CEO, and Mike Watts, a former consultant to the Company. The Watts brothers agreed to lock up and donate to a Guinea supportive charity the vast majority of the shares under their control. Having a common goal to realize long-term shareholder value and understanding the market dynamics for the Company's common stock, the Watts required no compensation for the lockup and expressed a serious commitment to continue to bring confidence to the Company's market.
"This agreement reflects our long-term commitment to helping the Company realize its world-class potential offshore Guinea," said Kent Watts. "I believe that the milestones reached over the past year -- bringing Dana Petroleum into the project, renegotiating the concession and structuring the 3-D seismic program -- suggest a much higher value than is being reflected in the market. It our desire to see this value reflected for the benefit of shareholders as we remain fully committed to the Company and to Guinea."
Ray Leonard, Chief Executive of Hyperdynamics said, "This lockup agreement is an indication of the support and confidence that our largest shareholders have placed in us to succeed in building a world-class oil and gas company."
The agreements cover a nine-month lockup period that precludes the trading of more than 17 million shares of common stock. The locked up shares are comprised of approximately 13.4 million free-trading shares along with warrants to purchase approximately 4 million shares. The lockup represents 13 percent of outstanding shares and 34 percent of outstanding warrants of Hyperdynamics stock. The agreements also state that 15 percent of the locked up shares would be released when the stock price reaches $3 a share for five consecutive trading days; 50 percent would be released when the price reaches $5 a share for five days; and 100 percent would be released when the stock price reaches $9 a share for the same period. The lockup agreements replace earlier agreements, which have expired.
The Watts brothers also reaffirmed in this agreement their commitment to donate a total of 2 million shares and 1 million warrants to the American Friends of Guinea, a charitable organization with which the Company is working to provide support to the people of Guinea.
Cheer up...
You and I both expect signicant increases in price in the future. It now appears it won't be due to anything Mike does with his controversial PR's.
G
Hahahaha......
Amazing, I used to give you credit for being a stand up guy Alj.
Now I see you are willing to lie about me and my posts for some reason.
I especially like this "you have never done anything but slam the company and its policies"...you must do lousy DD. I was branded a pumper many a time I supported this company year's past during it's decline. You however conveniently forget all those posts. Why?
More important to today's shareholders though...you did not address a single "fact" I put forward regarding Peter's past. Oh yeah, I forgot...you must be in the "I don't care how many times Peter has failed in the past, I don't care that he has never made a company successful for it's shareholders, none of that matters because this time he's going to change and do it right".
I also noted you did not give me any facts on why this time is different from all those past Peter failures! I'm waiting...
G
P.S. - Oh yeah...you had me rolling on the floor when you replied "In some periods he renounced a salary, in favor of shares." Sure he did...and ended up selling the shares he received therefore not missing out on a salary! Bummer when SEC docs blow the point you are trying to make right out of the water.
Mike;
One more question if I may...do you have any concerns/input regarding the alleged suing of Mr. Spear by Andarko which popped up on Yahoo today? This going to involve the company in your opinion? Or is it just more smoke and mirrors from bashers.
G
Thanks for the reply!
G
Mike;
On another board you mentioned a 2008 LOI with Dana as justification for whatever point was being discussed at the time.
I've used all my search skills and have found no PR, no SEC doc, no nothing substantiating this...
Did you have a senior moment?
G
Ok alj14;
You've seen Peter's history of issuing millions and millions of shares to himself in bonuses, etc...sucking each company dry he's managed.
You agree with me he's done this time and time again under various company names...none of which have made it...not one!
You tell me...what is different now? What's Peter done different presently than he did time and time again in the past?
G
Non dilution???????????
You're forgetting the reverse split????????????
Also you're forgetting the split up and shares going to EXMD????????????????????
Why aren't you mentioning the truth?????????????????????
Check out the history of this little "gem" and how it came to be AMNG.
I'm not saying don't buy if you want to...just saying Peter hasn't made any stockholders rich yet and he's tried ressurecting this company through many name changes by running up the authorized shares, awarding those authorized shares to him and his buds as pay, then when he can't get any more reverse split and company name change. Check it out and see if I'm lying.
G
So true...there is something to be said for the soothing silence here after wading through the posts there.
G
I still read ya.....you're not all alone.
Annual Shareholders Meeting
Questions & Answers Session
Q: In regard to the strategy going forward, are you looking to diversify beyond Guinea?
A: The most important thing is for the company to focus on the Guinea project. We must make sure that we 1) complete the PSC clarification with the Government of Guinea, 2) conclude the farm-out process with Dana and Repsol and collect the $51 million in combined entry fees that they will owe us, and 3) continue our work program with the objective of spudding the first exploration well during the fourth quarter of 2010. That said, we also do not want Hyperdynamics’ future to be tied strictly to one project. We are in the early stages of thinking about other opportunities that will diversify our portfolio.
Q: How confident are you that you will obtain the PSC clarification by March 11, 2010? What factors contribute to your confidence?
A: First of all, nothing is done until it is done. There are no guarantees, but everything looks good for getting the PSC Amendment signed soon. Our confidence comes from three things – 1) we have basically reached agreement on all points and we (Hyperdynamics) have initialed the agreement, 2) the government, which was in transition until recently, is now in place, and 3) the government is motivated to proceed.
Q: What are the steps required to attract institutional investors to invest in the company?
A: We must continue to complete the milestones we have laid out in a timely fashion. We have done a good job of meeting the promises we made over the last seven months, but we need to complete the PSC Amendment in order to attract institutional investors. Once the PSC Amendment has been signed, we will have a pretty compelling story. At that point, HDY would plan a road show to get the Company’s story out to the institutional investor community.
Q: What is the expected cost of the 3D survey?
A: The area over which we would plan to shoot the 3D survey needs to be decided and that will help determine the ultimate cost. In order to get adequate coverage of the leads and areas that look most promising to us now, we could expect to spend on the order of $30-50 million. Some of the features we have seen to date suggests that there exists the possibility of giant or super-giant fields (500 million barrels to 1 billion barrels of oil equivalent).
Q: Please discuss the Right of First Refusal in regard to the 64% relinquished area.
A: We believe that we have retained the best acreage. It is difficult to judge how likely it is that we put want to pick up any of the acreage we relinquished. Also, there is the issue of what it means to match. If it is a tender round, it is pretty clear. However, if the proposal includes other elements, such as infrastructure investments, for example, it may be difficult for Hyperdynamics to match.
Note: The questions listed above are representative of those asked during the meeting, and the answers have in some cases been shortened while retaining the substance.
Shareholder Meeting Brief
http://files.shareholder.com/downloads/HDY/832337040x0x351518/1de68a2b-eff1-4cb6-93cf-5017a9219105/2010.02.18 SHM.pdf
Good news for us option holders!!
G
"I am Loren Miles, CEO of Swiss Research, Inc., (California Corporation), and the original founder who developed the great tasting sweetener product, Shugr. We have recently re-acquired Shugr from HESG and have begun selling the product again both at retail stores and online channels. You can presently purchase our products at www.drugstore.com and within 30-days on www.shugr.com. We regret if you have had any inconvenience in obtaining our products.
Should you wish to comment about our products or progress as we re-introduce our Shugr worldwide, please do not hesitate to contact me directly at: lmiles@swissdiet.com. We are thrilled to have Shugr back in our portfolio with our other novel proudcts and brands.
Thank you for your support.
Sincerely,
Loren Miles
Chief Executive Officer
Swiss Research, Inc.
(A California Corporation)
Editor: Some people will want to know that.
Comment by Loren Miles — 5/17/2007 @ 5:53 pm"
Found on OTC blog for HESG
Mured...Don't think section (c) applies to us since it states it is for non Class 6 interests...
I think we are defined as Class 6 interests so the next section (d) applies
In the disclosure statement page 12:
"As of the Petition Date, 34,719,601 shares of Old SEBC Common Stock Interests were issued
and outstanding. To the best of the Trustee’s knowledge, however, the most recent listing of Holders of
Old SEBC Common Stock Interests is a Depository Trust Company list containing the names of financial
institutions and brokerage firms which hold Old SEBC Common Stock Interests in street name,
accounting for only approximately 12.4 million of the more than 34 million shares issued and outstanding
as of the Petition Date. Accordingly, Section VI.D.12(b) of the Disclosure Statement describes in detail
the mechanism set forth in Section 6.7(b) of the Plan for Holders of Old SEBC Common Stock Interests to
establish their Allowed Interests."
Now go to page 60 in section VI.D.12.(d) - (we are Class 6 interests):
"(d) Unclaimed Distributions to Holders of Allowed Class 6 Interests
After the SEBC Holdings Restriction Release Date, all new certificates representing the number
of SEBC Holdings Common Units into which Allowed Class 6 Interests previously represented by Old
SEBC Common Stock Certificates shall have been converted pursuant to Section 3.4 of the Plan that
have not been exchanged in the manner set forth in subsection (b) above shall be donated (on behalf of
the Holders of Allowed Class 6 Interests entitled to such SEBC Holdings Common Units), including any
distributions on the SEBC Holdings Common Units represented thereby, without interest, to a charity
qualified under Section 501(c)(3) of the Internal Revenue Code chosen by the Transfer Agent/Registrar,
such charity shall be deemed to be the owner of the SEBC Holdings Common Units represented by such
certificates, and any claim by any Holder of Allowed Class 6 Interests to such new certificates shall be
extinguished and forever barred."
Unless I'm reading this wrong...it looks like the charity will end up with more Class A common shares than we will without ever having to pay a cent or take any risk.
G
Here appear to be the details:
http://www.sebcglobalsettlement.com/pleadings/SEBC029.pdf
Thanks to Mu_Redskin1 of the Investor Village board!
G
BOS ARCTIC off the coast of Guinea!!
http://www.communitywalk.com/zupt_llc/seismic_crew_and_vessel_locator/map/89151#00042IhB
G
NEWS!!!http://investors.hyperdynamics.com/releasedetail.cfm?ReleaseID=324903
Hyperdynamics Receives Full Support From Guinea Government's New Administration
Guinea's National Television Airs Interviews
HOUSTON, Jul 29, 2008 (BUSINESS WIRE) -- Early in July, Hyperdynamics Corporation (AMEX:HDY) announced that it would send a delegation to the Republic of Guinea at the invitation of the Chief of the Government, Prime Minister Dr. Ahmed Tidiane Souare. The delegation traveled to Guinea last week. From July 21st to 25th, Hyperdynamics representatives met with twelve different ministers and the President of the National Assembly, Mr. Aboubacar Sompare. Kent Watts, Hyperdynamics' Chief Executive Officer, led the delegation, which also included James Spear, Executive Vice President of Exploration and Production, Harry Briers, Executive Vice President, Sarah Berel-Harrop, Chief Financial Officer, and Drex Mallory, Assistant to the Chief Executive Officer. Two partners of the Washington based law firm of Patton Boggs LLC, Michael Driver and Jude Kearney, accompanied the group. Vice President of African Affairs Famourou Kourouma, with the assistance of in-country staff, planned and coordinated all events.
On Monday, July 21st, Hyperdynamics made a formal presentation, including a complete technical update, to the Prime Minister. Following the presentation the Prime Minister asked the delegation to meet with other ministers of the government as an introduction and a show of support and encouragement for the Company's exploration work. RTG National Television interviewed members of the delegation immediately after the meeting with Prime Minister Souare. Later in the week, RTG covered a meeting with the President of the National Assembly, during which Mr. Sompare reconfirmed his support for the contract between SCS Corporation, the Company's wholly owned subsidiary, and the Republic of Guinea. Thursday night, RTG covered a dinner that was attended by several ministers including the Minister Secretary General of the office of the president, Sam Soumah. At the dinner, Minister Secretary General Soumah stated that the President maintains his full approval and support of the Company's exploration work offshore Guinea and encouraged accelerating efforts for the benefit of Guinea. RTG Television, in three separate stories, aired its coverage of the dinner, Hyperdynamics' meeting at the National Assembly, and Hyperdynamics' meeting with the Prime Minister. RTG's newsroom anchor reported that, after the meeting on Monday, the Prime Minister expressed his full support and encouraged the Company to continue its work towards a discovery.
On Friday, the delegation held its last scheduled meeting with Mr. Tibou Kamara, Minister of Communication, New Technologies, and Information. Mr. Kamara, spokesman for the government, addressed the delegation and explained that the Prime Minister had taken over the oil and gas exploration project file and was personally handling it. Mr. Kamara stated that President Conte, Prime Minister Souare, all other ministers of the government and the Minister Secretary General Sam Soumah all give their full support for Hyperdynamics exploration work to continue and accelerate.
The company expects to soon release additional information regarding last week's events in Guinea. In addition to national television coverage, Hyperdynamics' camera crew recorded most meetings. Management asks all its shareholders to stay abreast of its news and filings.
About Hyperdynamics
Hyperdynamics Corporation provides energy for the future by exploring and producing sources of energy worldwide. The company's internationally active oil and gas subsidiary, SCS Corporation, owns rights to explore and exploit 31,000 square miles offshore the Republic of Guinea, West Africa. HYD Resources Corporation focuses on domestic production in proven areas. To find out more about Hyperdynamics Corporation, visit the corporate website at http://www.hyperdynamics.com.
Forward Looking Statements
Statements in this news release are "forward looking" as defined by the U.S. Securities and Exchange Commission and are based on expectations, beliefs or projections that are subject to numerous risks and uncertainties. Investors are cautioned that these statements are not guarantees of future performance, and actual results could differ materially. Please refer to "Risk Factors" in the company's Form 10-K filed with the SEC.
http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20080708005166&newsLang=en
news out...3d starting 4th qurter 2008
G