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It ain't libel or slander if it's the truth.
Lotsa red flags earlier---a 'dividend' stock split--from a co with no income? Then a share 'buy back'? Again, from a co with no income? I believe a co should only 'buy back' their own shares when they got the cash to do it and it's the best possible place to invest their money. You'll see co's like als.to doing a 'normal course offeror bid', to perhaps buy back 5% of their shares over a 12 mo period. But altius has 200 million$ in the till, 40 projects, and income---they'll clear about 100 mm$ on the alderon iron deal alone. And they only do it when they think their stock is trading too cheap---keep the liquidity there while keeping the value up.
The first two items i mentioned are typical pinkie scams. Say you got 1 share of co with 100 shares out. The split it 5 for one. Now you got 5 shares of 500. Still 1% of co. But you now got 5x as many as you had! Whoopdedoo!
Ya probably as a 43-101 is a Canadian deal. Be kinda odd for a u.s. pinkie with project in russia to do so. What i saw of their 'results' was vague at best---you always see depth of intersect, length of intersect and grade---grade can be in ppm, grams or oz. They talk about the provinence of the core, how it was preserved, who did the assay, how assay was done (fire assay, etc) and qualified arms length individual who did it.
Ya, they do occasionally on a real exchange--like van or tse--which is where you oughta be trading if you're looking for transparency and legitimate jr explorers/producers.
Mark of a good host, 'eh?
BRE-X
Can anyone remember it?
Folks, after that scam--I know one broker in edmonton who made 40mm$ on it--rules on the vanvouver stock exchange were thourougly overhauled.
43-101's etc came into being.
There are many legit gold co's trading vancouver--an exchange owned by the tse--the 'big board' in canada.
Actually pretty easy for u.s. investors to trade direct on can exchanges. penntrade.com is one of the best, if it's cleared in your state.
Too bad---if this sucker keeps walking and quacking like a duck, pretty good odds it's a duck. And many people will get burned.
Pinkies are generally to be thouroughly avoided.
gpg.v
gmv.v'
sk.v
tdc.v
are only a few legit co's---with much transparency---that trade vancouver.
hell, gpg is trading for cash in the till and value of held securities.
Good for ya', if you do.
However--based on 'if it walks and quacks like a duck, it's probably a duck"--and i think this one is a duck---the tradegy will be that there are many legit gold co's on vse that have a legitimate chance---and people here will be scared to take that chance.
for those that ain't
sk.v
tdc.v
gpg.v
gmv.v
Have you researched the guys who hold 40%?
One's headqtr in panaman--that's reassuring.
The other?
State of Missouri
Office of Secretary of State
Case No. AP-09-10 IN THE MATTER OF:
WARREN & MASSEY ASSET
MANAGEMENT LTD., INC.;
DEBORAH REYNOLDS; and
MICHAEL CHURCH,
Respondents.
Serve: Warren & Massey Asset Management Ltd., Inc. at:
c/o Commissioner of Securities
Missouri Secretary of State
600 West Main Street
Jefferson City, Missouri 65102
Serve: Deborah Reynolds at:
c/o Commissioner of Securities
Missouri Secretary of State
600 West Main Street
Jefferson City, Missouri 65102
Serve: Michael Church at:
c/o Commissioner of Securities
Missouri Secretary of State
600 West Main Street
Jefferson City, Missouri 65102
ORDER TO CEASE AND DESIST AND ORDER TO SHOW CAUSE WHY CIVIL PENALTIES AND COSTS SHOULD NOT BE IMPOSED
On February 4, 2009, the Enforcement Section of the Securities Division of the Office of Secretary of State (the "Enforcement Section"), through its Assistant Commissioner of Securities Mary S. Hosmer, submitted a Petition for Order to Cease and Desist and Order to Show Cause Why Civil Penalties and Costs Should Not Be Imposed. After reviewing the petition, the Commissioner issues the following findings of fact, conclusions of law and order:
I. FINDINGS OF FACT
1.Warren & Massey Asset Management Ltd., Inc., a/k/a W&M Asset Management ("Warren Massey"), purports to be a corporation with an address at 400 Chesterfield Center, Suite 400, St. Louis, Missouri 63107, and a telephone number of 314-361-3380. Warren Massey maintained a website at warren-massey.net.[1] Warren Massey is not registered in Missouri, or any other state, as a broker-dealer or investment adviser.
2.Deborah Reynolds ("Reynolds")is the only contact person identified on the Warren Massey website. Reynolds' address was listed as 400 Chesterfield Center, Suite 400, St. Louis, Missouri 63107. There is no Deborah Reynolds registered in Missouri or any other state as a securities agent or investment adviser representative associated with Warren Massey.
3.Michael Church ("Church") purported to be an agent of Warren Massey. Church made cold calls to investors purportedly on behalf of Warren Massey. Church purported to have a business address of 400 Chesterfield Center, Suite 400, St. Louis, Missouri 63107.
4.The Warren Massey website stated, in part, as follows:
a.It is our goal to grow clients' wealth through outstanding long-term investment results;
b.In order to provide professional advice concerning the clients' financial matters, a financial plan may be recommended to identify goals, analyze current financial situation and outline steps necessary to accomplish those goals;
c.Warren Massey is preeminent among corporate and securities firms worldwide, for a number of reasons;
d.With years of experience representing companies in transactional matters and securities offerings – both in the United States and internationally – it has developed keen insights into the legal, regulatory and business environments in which its clients operate;
e.We advise clients on the best way to avoid or, where necessary, confront potential SEC problems; and
f.We also provide counseling on the disclosure and regulatory obligations of public companies including compliance with securities laws and the rules of the securities exchanges.
5.On or about December 18, 2008, a citizen of Great Britain ("FT1") telephoned the Registration Section of the Missouri Securities Division inquiring about Warren Massey. No registration was found for Warren Massey so the call was transferred to the Enforcement Section. FT1 told an investigator with the Enforcement Section, among other things, the following:
a.FT1 owns stock in United States Oil & Gas Corporation ("U.S. Oil");
b.Recently an individual identifying himself as "Michael Church" called FT1 "out-of-the-blue" and asked FT1 if FT1 was interested in selling FT1's stock in U.S. Oil;
c.FT1 did not have any prior knowledge of Church or Warren Massey and does not know how they obtained information about FT1;
d.Church subsequently provided a purchase agreement to FT1 showing a market value of the U.S. Oil stock at two hundred forty-five thousand, two hundred and eighteen dollars and fifty-four cents ($245,218.54);
e.Church and Warren Massey offered FT1 two hundred and thirty seven thousand, eight hundred and sixty-one dollars and ninety-eight cents ($237,861.98) for his shares of U.S. Oil. Church stated that the difference of seven thousand, three hundred and fifty-six dollars and fifty-six cents ($7,356.56) would be retained as a transaction fee; and
f.Church told FT1 that Warren Massey was located at 400 Chesterfield Center, Suite 400, St. Louis, Missouri 63017 and that their phone number was 314-361-3390.
6.On or about January 28, 2009, another citizen of Great Britain ("FT2") telephoned the Enforcement Section about an offer to purchase stock made by an agent of Warren Massey. FT2 told the investigator he was contacted by an agent of Warren Massey with an offer to purchase stock FT2 owned in Global Realty. FT2 believed the offer was approximately ten times the current market value of the stock. During this offer, Warren Massey attempted to extract private banking information from FT2.
7.FT2 did not have the name of the Warren Massey agent but stated that the address for Warren Massey was purportedly 400 Chesterfield Center, Suite 400, St. Louis, Missouri 63017 and their phone number was 314-361-3390.
8.Multiple attempts to contact Warren Massey by the Missouri Securities Division via the telephone number provided resulted only in communication with an answering machine. The answering machine did not provide any identifying information and simply instructed the caller to leave a name and telephone number. None of the usual databases of telephone listings yielded a listing for this telephone number or any information about Warren Massey.
9.On or about January 29, 2009, an investigator with the Enforcement Section contacted the manager for the property located at 400 Chesterfield Center in St. Louis, Missouri and was told that no entity by the name of Warren Massey was located at that address.
10.The website at Warren-Massey.net was created on or about October 9, 2008, and was registered to Nokiahost.com, an anonymous web-hosting company located in the Philippines. An investigator with the Enforcement Section filed a complaint with the server and the website was subsequently removed.
11.A check of the records maintained by the Missouri Commissioner of Securities confirmed that:
a.Warren Massey has never been registered as a broker-dealer in Missouri;
b.Reynolds has never been registered as a securities agent in Missouri; and
c.Church has never been registered as a securities agent in Missouri.
12.Respondents did not tell FT1 and FT2, among other things:
a.that Respondents were not registered in Missouri to offer or sell securities; and
b.that while Respondents stated that their goal was to grow clients' wealth through outstanding long-term investment results, they omitted to disclose complete and accurate information about the history and experience of Warren Massey, its officers, directors and agents.
13.Respondents made untrue statements including, but not limited to, the following:
a.Warren Massey was preeminent among corporate and securities firms worldwide;
b.Warren Massey was located at 400 Chesterfield Center, Suite 400, St. Louis, Missouri 63017; and
c.Warren Massey has years of experience representing companies in transactional matters and securities offerings – both in the United States and internationally.
II. STATUTORY PROVISIONS
14.Section 409.1-102(1), RSMo. (Cum. Supp. 2008), defines "Agent" as "an individual, other than a broker-dealer, who represents a broker-dealer in effecting or attempting to effect purchases or sales of securities or represents an issuer in effecting or attempting to effect purchases or sales of the issuer's securities."
15.Section 409.1-102(4), RSMo. (Cum. Supp. 2008), defines a "Broker-dealer" as a person engaged in the business of effecting transactions in securities for the account of others or for the person's own account.
16.Section 409.1-102(26), RSMo. (Cum. Supp. 2008), defines "Sale" to include, "every contract of sale, contract to sell, or disposition of, a security or interest in a security for value." That same section defines "offer to sell" as "every attempt or offer to dispose of, or solicitation of an offer to purchase, a security or interest in a security for value."
17.Section 409.1-102(28), RSMo. (Cum. Supp. 2008), provides the definition of a "Security." That definition included, among other things: "stock;" "evidence of indebtedness;" and "investment contract."
18.Section 409.4-401(a), RSMo. (Cum. Supp. 2008), states:
It is unlawful for a person to transact business in this state as a broker-dealer unless the person is registered under this act as a broker-dealer or is exempt from registration.
19.Section 409.4-402, RSMo. (Cum. Supp. 2008), states:
(a) It is unlawful for an individual to transact business in this state as an agent unless the individual is registered under this act as an agent or is exempt from registration as an agent under subsection (b) . . . .
(c) It is unlawful for a broker-dealer, or for an issuer engaged in offering, selling or purchasing securities in this state, to employ or associate with an agent who transacts business in this state on behalf of broker-dealers or issuers unless the agent is registered under subsection (a) or exempt from registration under subsection (b).
20.Section 409.5-501, RSMo. (Cum. Supp. 2008), states:
It is unlawful for a person, in connection with the offer, sale, or purchase of a security, directly or indirectly:
(1) To employ a device, scheme, or artifice to defraud;
(2) To make an untrue statement of a material fact or to omit to state a material fact necessary in order to make the statement made, in light of the circumstances under which it is made, not misleading; or
(3) To engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person.
21.Section 409.6-604(a), RSMo. (Cum. Supp. 2008), states:
If the commissioner determines that a person has engaged, is engaging, or is about to engage in an act, practice, or course of business constituting a violation of this act or a rule adopted or order issued under this act or that a person has materially aided . . . an act, practice or course of business constituting a violation of this act . . . the commissioner may:
(1) Issue an order directing the person to cease and desist from engaging in the act, practice, or course of business or to take other action necessary and appropriate to comply with this act;
(2) Issue an order denying, suspending, revoking, or conditioning the exemptions for a broker-dealer under section 409.4-401(b)(1)(D) or (F) or an investment adviser under section 409.4-403(b)(1)(C); or
(3) Issue an order under section 409.2-204.
22.Section 409.6-604(d), RSMo. (Cum. Supp. 2008), states:
In a final order . . . the commissioner may impose a civil penalty up to one thousand dollars ($1,000) for a single violation or up to ten thousand dollars ($10,000) for more than one violation.
23.Section 409.6-604(e), RSMo. (Cum. Supp. 2008), provides the following:
In a final order, the commissioner may charge the actual cost of an investigation or proceeding for a violation of this act or a rule adopted or order issued under this act. These funds may be paid into the investor education and protection fund.
24.Section 409.6-611, RSMo. (Cum. Supp. 2008), provides:
(a) A consent to service of process complying with section 409.6-611 required by this act must be signed and filed in the form required by a rule or order under this act. A consent appointing the commissioner the person's agent for service of process in a noncriminal action or proceeding against the person, or the person's successor or personal representative under this act or a rule adopted or order issued under this act after the consent is filed, has the same force and validity as if the service were made personally on the person filing the consent. A person that has filed a consent complying with this subsection in connection with a previous application for registration or notice filing need not file an additional consent.
(b) If a person, including a nonresident of this state, engages in an act, practice, or course of business prohibited or made actionable by this act or a rule adopted or order issued under this act and the person has not filed a consent to service of process under subsection (a), the act, practice, or course of business constitutes the appointment of the commissioner as the person's agent for service of process in a noncriminal action or proceeding against the person or the person's successor or personal representative.
(c) Service under subsection (a) or (b) may be made by providing a copy of the process to the office of the commissioner, but it is not effective unless:
(1) The plaintiff, which may be the commissioner, promptly sends notice of the service and a copy of the process, return receipt requested, to the defendant or respondent at the address set forth in the consent to service of process or, if a consent to service of process has not been filed, at the last known address, or takes other reasonable steps to give notice; and
(2) The plaintiff files an affidavit of compliance with this subsection in the action or proceeding on or before the return day of the process, if any, or within the time that the court, or the commissioner in a proceeding before the commissioner, allows.
(d) Service pursuant to subsection (c) may be used in a proceeding before the commissioner or by the commissioner in a civil action in which the commissioner is the moving party.
(e) If process is served under subsection (c), the court, or the commissioner in a proceeding before the commissioner, shall order continuances as are necessary or appropriate to afford the defendant or respondent reasonable opportunity to defend.
III. CONCLUSIONS OF LAW
Multiple Violations of Transacted Business as an Unregistered Broker-Dealer
25.Paragraphs 1 through 24 are incorporated by reference as though fully set forth herein.
26.At all times relevant, records maintained by the Missouri Commissioner of Securities contained no registration or granted exemption for Warren Massey to transact business as a broker-dealer in or from the State of Missouri.
27.Warren Massey violated Section 409.4-401(a), RSMo. (Cum. Supp. 2008), when it attempted to effect purchases or sales of securities from the State of Missouri without being registered or exempt from registration as a broker-dealer.
28.Warren Massey's actions in transacting business as an unregistered broker-dealer constitute an illegal act, practice, or course of business and such actions are therefore subject to the commissioner's authority under Section 409.6-604(a), RSMo. (Cum. Supp. 2008).
Transacting Business as an Unregistered Agent
29.Paragraphs 1 through 24 are incorporated by reference as though fully set forth herein.
30.At all times relevant, records maintained by the Missouri Commissioner of Securities contained no registration or granted exemption for Church to transact business as an agent in or from the State of Missouri.
31.Church transacted business as an unregistered agent by holding himself out in telephone calls to investors as an agent of Warren Massey. In addition, Church attempted to effect trades in an investor's account. Church's actions constitute an illegal act, practice, or course of business and such actions are therefore subject to the commissioner's authority under Section 409.6-604(a), RSMo. (Cum. Supp. 2008).
Multiple Violations of Employing and Unregistered Agent
32.Paragraphs 1 through 24 are incorporated by reference as though fully set forth herein.
33.At all times relevant, records maintained by the Missouri Commissioner of Securities contained no registration or granted exemption for Church or any other agent to transact business as an agent of Warren Massey in the State of Missouri.
34.Church and another unidentified agent purported to represent Warren Massey in offering to purchase securities from investors.
35.Warren Massey's actions of employing unregistered agents constitute an illegal act, practice, or course of business and such actions are therefore subject to the commissioner's authority under Section 409.6-604(a), RSMo. (Cum. Supp. 2008).
Multiple Violations of Making an Untrue Statement or Omitting to State
Material Facts in Connection with the Offer or Sale of a Security
36.Paragraphs 1 through 24 are incorporated by reference as though fully set forth herein.
37.In connection with the offer, sale or purchase of securities from Missouri, Respondents made the following untrue statements of material fact:
a.Warren Massey was preeminent among corporate and securities firms worldwide;
b.Warren Massey was located at 400 Chesterfield Center, Suite 400, St. Louis, Missouri 63017; and
c.Warren Massey has years of experience representing companies in transactional matters and securities offerings – both in the United States and internationally.
38.In connection with the offer or sale of securities from Missouri, Respondents omitted to state material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading, including, but not limited to, the fact that Respondents were not registered in Missouri to offer or sell securities.
39.Respondents' actions in making untrue statements and omitting to state material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading, in connection with the offer, sale or purchase of a security, constitute a violation of Section 409.5-501, and are illegal acts, practices, or courses of business and such actions are therefore subject to the commissioner's authority under Section 409.6-604(a), RSMo. (Cum. Supp. 2008).
40.This order is in the public interest and is consistent with the purposes of the Missouri Securities Act of 2003. See Section 409.6-605(b), RSMo. (Cum. Supp. 2008).
IV. ORDER
NOW THEREFORE, it is hereby ordered that Respondents, their agents, employees and servants, and all other persons participating in or about to participate in the above-described violations with knowledge of this Order are prohibited from:
A.violating or materially aiding in any violation of Section 409.4-401(a), RSMo. (Cum. Supp. 2008), by transacting business as an unregistered broker-dealer;
B.violating or materially aiding in any violation of Section 409.4-402(a), RSMo. (Cum. Supp. 2008), by transacting business as an unregistered agent;
C.violating or materially aiding in any violation of Section 409.4-402(d), RSMo. (Cum. Supp.2008), by employing an unregistered agent; and
D.violating or materially aiding in any violation of Section 409.5-501, RSMo. (Cum. Supp. 2008), by, in connection with the offer or sale of securities, making an untrue statement of a material fact or omitting to state a material fact necessary in order to make the statement made, in the light of the circumstances under which it is made, not misleading.
IT IS FURTHER ORDERED that, pursuant to Section 409.6-604(d), RSMo. (Cum. Supp. 2008), the Commissioner will determine whether to grant the Enforcement Section's petition for an imposition of a civil penalty of up to ten thousand dollars ($10,000) against Respondent Warren Massey for multiple violations of Section 409.4-401, RSMo. (Cum. Supp. 2008), in a final order, unless Respondent Warren Massey requests a hearing and shows cause why the penalty should not be imposed.
IT IS FURTHER ORDERED that, pursuant to Section 409.6-604(d), RSMo. (Cum. Supp. 2008), the Commissioner will determine whether to grant the Enforcement Section's petition for an imposition of a civil penalty of one thousand dollars ($1,000) against Respondent Church for a violation of Section 409.4-402(a), RSMo. (Cum. Supp. 2008), in a final order, unless Respondent Church requests a hearing and shows cause why the penalty should not be imposed.
IT IS FURTHER ORDERED that, pursuant to Section 409.6-604(d), RSMo. (Cum. Supp. 2008), the Commissioner will determine whether to grant the Enforcement Section's petition for an imposition of a civil penalty of up to ten thousand dollars ($10,000) against Respondent Warren Massey for multiple violations of Section 409.4-402(d), RSMo. (Cum. Supp. 2008), in a final order, unless Respondent Warren Massey requests a hearing and shows cause why the penalty should not be imposed.
IT IS FURTHER ORDERED that, pursuant to Section 409.6-604(d), RSMo. (Cum. Supp. 2008), the Commissioner will determine whether to grant the Enforcement Section's petition for an imposition of a civil penalty of up to ten thousand dollars ($10,000) against each Respondent for multiple violations of Section 409.5-501(2), RSMo. (Cum. Supp. 2008), in a final order, unless Respondents request a hearing and show cause why the penalty should not be imposed.
IT IS FURTHER ORDERED that, as the Enforcement Section has petitioned for an award for the costs of the investigation against Respondents in this proceeding, the Commissioner will issue a final order pursuant to Section 409.6-604(e), RSMo. (Cum. Supp. 2008), awarding an amount to be determined after review of evidence submitted by the Enforcement Section, unless Respondents request a hearing and show cause why such an award should not be made.
SO ORDERED:
WITNESS MY HAND AND OFFICIAL SEAL OF MY OFFICE AT JEFFERSON CITY, MISSOURI THIS 19TH DAY OF FEBRUARY, 2009.
ROBIN CARNAHAN
SECRETARY OF STATE
(Signed/Sealed)
MATTHEW D. KITZI
COMMISSIONER OF SECURITIES
State of Missouri
Office of Secretary of State
Case No. AP-09-10 IN THE MATTER OF:
WARREN & MASSEY ASSET
MANAGEMENT LTD., INC.;
DEBORAH REYNOLDS; and
MICHAEL CHURCH,
Respondents.
Serve: Warren & Massey Asset Management Ltd., Inc. at:
c/o Commissioner of Securities
Missouri Secretary of State
600 West Main Street
Jefferson City, Missouri 65102
Serve: Deborah Reynolds at:
c/o Commissioner of Securities
Missouri Secretary of State
600 West Main Street
Jefferson City, Missouri 65102
Serve: Michael Church at:
c/o Commissioner of Securities
Missouri Secretary of State
600 West Main Street
Jefferson City, Missouri 65102
NOTICE
TO: Respondents and any unnamed representatives aggrieved by this Order:
You may request a hearing in this matter within thirty (30) days of the receipt of this Order pursuant to Section 409.6-604(b), RSMo. (Cum. Supp. 2007), and 15 CSR 30-55.020.
Within fifteen (15) days after receipt of a request in a record from a person or persons subject to this order, the Commissioner will schedule this matter for a hearing.
A request for a hearing must be mailed or delivered, in writing, to:
Matthew D. Kitzi, Commissioner of Securities
Office of the Secretary of State, Missouri
Kirkpatrick State Information Center
600 West Main Street, Room 229
Jefferson City, Missouri, 65102.
CERTIFICATE OF SERVICE
I hereby certify that on this 19th day of February, 2009, copies of the foregoing Order and Notice in the above styled case was mailed by certified U.S. Mail, postage prepaid, to:
Warren & Massey Asset Management Ltd., Inc.
c/o Commissioner of Securities
Missouri Secretary of State
600 West Main Street
Jefferson City, Missouri 65102
Deborah Reynolds
c/o Commissioner of Securities
Missouri Secretary of State
600 West Main Street
Jefferson City, Missouri 65102
Michael Church
c/o Commissioner of Securities
Missouri Secretary of State
600 West Main Street
Jefferson City, Missouri 65102
And hand delivered to:
Mary Hosmer
Assistant Commissioner
Securities Division
John Hale, Specialist
[1]After the Enforcement Section contacted the server the Warren Massey website was taken down as explained more fully below.
43-101
Why on earth would a u.s. pinkie even consider doing one?
And a tad of advice---when you report your 'drill holes' results, it's actually kinda customary to state the depth and length of intercept. (ps the "43-101" will require this--lol!)
You don't just say 'hey--this holes got 13 gram gold in it---- "
I have seen results as hi as 100 ounces that were uneconomic---they might just be for a few inches at hundreds or thousands of feet deep---
I was put onto this story yesterday by another long time mining guy---kinda 'the sunday comics ain't out yet, in the meantime, look at this!!"
For those unfamiliar with 43-101:
National Instrument 43-101
From Wikipedia, the free encyclopediaJump to: navigation, search
National Instrument 43-101 (the "NI 43-101" or the "NI") is a mineral resource classification scheme used for the public disclosure of information relating to mineral properties in Canada. The NI is a strict guideline for how public companies can disclose scientific and technical information about mineral projects on bourses supervised by the Canadian Securities Administrators.
NI 43-101 is a national instrument for the Standards of Disclosure for Mineral Projects within Canada. The Instrument is a codified set of rules and guidelines for reporting and displaying information related to mineral properties owned by, or explored by, companies which report these results on stock exchanges within Canada. This includes foreign-owned mining entities who trade on stock exchanges overseen by the Canadian Securities Administrators, even if they only trade on Over The Counter (OTC) derivatives or other instrumented securities.
Many publicly held Canadian mineral exploration and mining companies list on the TSX Venture Exchange (TSX-V) or the Toronto Stock Exchange (TSX). Some of these companies may also have listings on stock exchanges outside Canada, such as Johannesburg Stock Exchange, Australian Stock Exchange and London Stock Exchange.
Disclosures covered by the NI 43-101 code include press releases of mineral exploration reports,reporting of resources and reserves, presentations, oral comments, and websites. The NI 43-101 covers metalliferous, precious metals and solid energy commodities as well as bulk minerals, dimension stone, precious stones and mineral sands commodities.
The National Instrument 43-101 is broadly comparable to the Joint Ore Reserves Committee Code (JORC Code) which regulates the publication of mineral exploration reports on the Australian Stock Exchange (ASX). It is also broadly comparable with the South African Code for the Reporting of Mineral Resources and Mineral Reserves (SAMREC)[1].The reporting codes are, however, not entirely congruent in practice, in that NI 43-101 is more prescriptive in terms of the manner in which mineral exploration reporting is presented, although the content of the technical reports, and the scientific rigors to which the mineral resource classifications within them are put, are often very similar.
For TSX listing purposes,an NI43-101 Technical Report would have to be accompanied by an NI43-101 Cimval Report. For ASX listings, a JORC Mineral Resource Statement needs to be accompanied by a Valmin Valuation Report, while for JSE listings, a Competent Person's Report (CPRs), which is compliant with SAMREC and The South African Code for the Valuation of Mineral Assets (SAMVAL), needs to be submitted.
In many cases, NI 43-101 and JORC Code technical reports are considered inter-changeable and may be accepted by either regulatory body in cases of dual listed entities and, indeed, are accepted as the de-facto industry reporting standard by many other jurisdictions which lack similar rigorous reporting standards or internationally recognized industry professional bodies. The LSE, for instance, accepts CPRs, Qualified Person's Reports (QPRs), and Mineral Resource Statements, compiled using JORC, SAMREC and SAMVAL, or NI 43-101, when accompanied by a NI51-101 Valuation Form, for listing on the LSE.
Howdy. Yup, there's diamonds in mt. Know a guy from the chief mtn hotshots who should have some info on this one, stumbled on his post--thought I could get ahold of him. SH--hardly ever post there--or anywhere-long story, wierd stuff-no beef--yup, been gone lots lately--Utah, Az, if not fighting, teaching---standards of survival, wildfire management, fire behaviour--my main deal is safety COUPLED with aggressive attack. Just finished packing, I'm outa here first light for Salmon, Id.--got another one. Happy trading!
HonestInjun, if you're around, I'm headed for Salmon, Id--maybe see you there.
OT---Honest Injun if you have news on mt diamond play, please pm me. tia.
Mont. Volunteers to Unearth Dinosaur Bones By The Associated Press
Fri Jul 22, 9:17 PM ET
Volunteers in Montana are working this week to uncover what is believed to be a never-before-seen species of sauropod dinosaur, perhaps about twice as old as most dinosaur fossils found in the state.
Malta paleontologist Nate Murphy is leading efforts to remove the bones from private land near the Little Snowy Mountains in central Montana.
The sauropod is kin to long-necked, plant-eaters like the 8-ton, 60-foot Camarasaurus and the larger Brachiosaurus, but with a larger head and shorter neck.
"There's roughly about two dozen known sauropod skulls on the planet, and we just found another one," Murphy said.
What's more, the one found near Roundup is intact, which is rare.
Ranchers stumbled onto the ancient remains about 18 years ago while trekking over a series of rolling, grassy hills. Millennia of hard-driven weather slowly eroded the earth around the bones, raising them to the surface.
For nearly two decades the ranchers did little with the bones. They began poking around the fossil with a backhoe a couple of years ago, and what they saw convinced them to call a friend at the Billings Gem and Mineral Club.
That person put them in touch with Murphy, who heads the Judith River Dinosaur Institute in Malta.
"They took out a few scoops just to see what they had in there, and they hit a lot of bone," Murphy said.
"It's just amazing seeing a sauropod skull up close and getting to work near it," said 19-year-old Evelyn Unger, a volunteer digger who studies biology at Lebanon Valley College in Pennsylvania.
Unger, who is considering a career in paleontology, is on her third dig. "I'm having a blast."
The crew also includes two British paleontology doctoral students and a California accountant, Hal Carroll, who is on his second dig with Murphy.
"It's a great time to get out for about a week," Carroll said.
Volunteers have so far uncovered about 20 percent of the fossil, including the neck and skull.
Experts who examined pictures of the sauropod's vertebra determined the fossil is indeed a new species. The animal was an adult when it died. Its body was shaped like a massive barrel, and it walked on stocky limbs.
The new dinosaur is important for a couple of reasons, said Dave Trexler, paleontologist at the Two Medicine Dinosaur Center in Bynum.
First, the discovery of a sauropod so far north in Montana helps scientists further define the range of these particular Jurassic beasts.
This dinosaur also seems to represent a missing link in the evolution of the sauropods. It is believed to have roamed the earth 150 million years ago, making it about twice as old as most dinosaur skeletons found in the state.
"It really does help us put together a more comprehensive and complete picture of sauropod evolution as well as sauropod range," Trexler said.
Once the bones are freed from the hillside, they'll be confined in plaster jackets and hauled to the Judith River Dinosaur Institute.
Hey, what happened to the guy from Lethbridge or Taber who was gonna drive by and see if anything was happening?
What's your montana agenda? WH guys might be working @ mosby. Some of the samples are @ geo survey of canada, located next to big univ there--are you in calgary?
and continue on into wyoming and colo--the odds are not good, developing a mine is super expensive--but hey, the chase is fun---
Ideally, at least one sample of every different type of strata. If limited--like what you can get in your pockets--pick on the reds and greens, and the rubier and more emerald, the better.
I'm thinking you mean DY junction, which was kinda featured in 'stay away joe' a pretty neat book that was turned into a really screwed up movie with elvis.
At any rate, last time I was down there (in that area--not your claims) I took some samples myself and dropped them off
at one of the foremost experts in canada. Was talking with him today---it is kimberlite, very strongly phlogopite, about 1/4 dolomite wallrock, got some minor quartz vermiclulite/fluourapatite. 'bout the most neatest sample i had was that of a kimberlite mud-ball, so havn't quit the day job! (these are blasted possibly thousands of feet into the air and absorb a neat cross section of associated gases, etc, in transit and formation)
I know where a formation is that had been kinda mined for rip-rap yrs ago, so got a bit of a cross section w/o having to excavate.
Post 3611. I don't understand why nobody else is interested in what neighbors are doing. Very strange.
WarHorse---evidently has some 'samples' in London, England, for 'evaluation.'
Does Delta interview ---or have any private conversations with delta management/ir----mentioned anything about possible jv with WarHorse? tia. lj
???!!!! The private guys, right down the road--The ones who have worked most of the winter-----
It's my understanding that WarHorse has sent whatever they recovered from thier bulk sampling program over to London for 'evaluation'
I'd still like to know if WarHorse either put the money up or jv'd with delta. Anyone?
Exactly! buying pressure building up like one of them giant salami waves!
Did WarHorse put money up?---if so, hold on!
"DELTA MINING & EXPLORATION CP Quick Quote: DMXP 0.00 (+0.00)
Delta Mining and Exploration Secures Funds; Work to Begin on the Homestead Kimberlite and Surrounding Targets
5/25/05
Delta Mining and Exploration Corp., (Pink Sheets: DMXP) is pleased to announce the completion of a financing agreement that will allow fieldwork to begin immediately on the Montana Homestead Property together with several previously identified, nearby, specific targets and surrounding areas.
Approximately one million (US 1,000,000) dollars is expected to be received in several traunches over the coming months - the first being banked within the next two weeks. As a result, Delta will move expeditiously in setting up a work program that will fully explore the Homestead kimberlite and neighboring diamond targets. CEO, Dr. Barry Rayment will be meeting with a leading geological consulting firm this week on-site to plan the exploration program. Delta had previously found a kimberlite body together with diamond indicator minerals and a micro-diamond on the Homestead property. The secured funds will allow the viability of the kimberlite on the Homestead property to be determined and to advance fieldwork on neighboring prospective diamond targets.
Furthermore, the funds secured are more than sufficient for Delta to complete this phase of work on the properties and will leave the company in an economically viable position. The financing provides Delta with instant credibility and makes the company attractive for investment, joint ventures as well as providing a pathway to securing additional funding if and when necessary.
Delta Mining and Exploration Corp, http://www.deltamine.com: is a mineral exploration company with an extensive portfolio of diamond properties in Montana, USA and in Bolivia, South America. Delta controls some 8,000 acres throughout Montana located within the Wyoming Craton where many of North America's diamonds have been found. Another 10,000 acres of prospective diamond properties are controlled in Bolivia, South America.
NOTE: Safe Harbor for Forward-Looking Statements.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.
SOURCE: Delta Mining and Exploration Corp.
Delta Mining and Exploration Corp. Alex Livak, 1-347-813-4664 info@deltamine.com http://www.deltamine.com
Copyright Business Wire 2005
I hear War Horse i
"Thats my 2 cents and I will answer any questions or comments." Thanks Dan. I have a question--I saw an ad that said "1988 henway for sale." What's a henway?
I see people keep talking about a financing. According to stockhouse (and realizing action on pink sheets isn't always reported accurately) this co traded about 75 bucks worth today, @ 1/2 a cent. How on earth does a co trading like that raise money? I am serious--I would like to know.
'WarHorse' is english translation of name of private co owned by friend of mine, who happens to be mostly native american. Kimberlites are not uncommon in Montana, there's a belt of them that runs from sask thru mt and wy and into colo. Farther west of where delta's property is there are also lots of lamprolites, quite similiar but I don't believe diamonds have ever been found in lamprolites.
Anyway--warhorse--the guy's a real go-getter, is into lots of different things. Being a 'minority contractor' also doesn't hurt! He's also an amateur rockhound and will put his money where his interests lie. He bought some very prospective diamond property in general area where delta is looking, and he was doing a little excavating, got a 'qualified person' from candada involved.
I only posted about warhorse as I thought it might be of interest to delta shareholders that somebody else was doing something similiar in same area.
I don't own any delta, i do not trade pinksheets--not transparent enuf and too much room for people to play games.
I follow delta as i like diamonds and I live in Mt, used to work just east of general area where delta's prop is.
Saw the WarHorse guys--said they were running 2 twin-engine scrapers and a d9--stockpiling topsoil and stripping. Said they were making 3 to 5 minute rounds, got in about 8 shifts. 5 min rds x 20 yds=about 500 yds an hr with both machines, by my math. Shut 'er down on acct of the cold--too hard on iron. Said if they did anything, it'd be if weather breaks, wanted to get in with big hoe and cut some trenches.
Warhorse has moved in 2 twin-engine 627's and a d-9 and is doing some serious stripping and topsoil stockpiling on W.H. property.
Yogo. But they're opposite direction from this property, up in the Little Belts. Jake Hoover, western artist Charlie Russell's friend, is credited with finding them. The mine, 45 miles southwest of Lewistown, is the only producing sapphire dike mine in North America, and possibly the world.
A unique quality of Yogo Sapphires is that they retain their brilliance under artificial light. Sapphires from other parts of the world generally absorb light, making them appear black and lustreless. They never require heat treating and are very special gem, found in crown jewels is several countries in Europe. One of my favorites--I've got a few, also a couple of dandys from 'west-side', over by PBurg.
HMMPF! Just read the last few posts---don't reckon I'll post here anymore, I seem to be off-topic. Enjoy the squables, kiddies.
And took them to geo survey of canada. And school of mines at butte.
yuup. I got some basic samples.
Financing---at this price level ain't gona happen, period. Too many shares out, too low of price. First step would be a rollback---ain't end of world, you still hold same % of co. Until financing gets done, then you're diluted. Still not end of world, smaller piece of viable co beats lotsa nothing.
Montana map of properties is very vague, shows some stuff in wrong spot. I had a good email converstion going with co, till i asked them about a specific---now, nada! Tickled me---cousin @ Tiegan needed some riprap last weekend, we did a little 'bulk sampling' ourselves on an outcrop nobodys got leased--he wanted the hard big rocks, I wanted the emerald green and wine red stringers. Gonna mortar and pestle them up--the dark layers in them--and pan it, but i'm sidetracked.
LOL! A little--or a LOT---of both wouldn't hurt any of us! As for the gold--it's very impressive, check out the video here, but you need hi speed internet
http://www.cgmltd.com/
Check out page 4 of this, if you're into pretty rocks:
http://www.cgmltd.com/media/GlobalOverview710LR.pdf
I see on their website they got tiegan butte--i wasn't aware of that. i've got some old samples from there--first built road in that area in '68, wandered around the rock garden today--they're between Falcon silver mine in nevada and ctg.v's cash mine in colorado. An interesting hobby, i had a geo drive into my yard the other day, was on the computor watching him out the window, see he made it half way up the path then went back to his truck and got his hammer and a glass. he took some of the telluride stuff from ctg and cut it for me---very intriguing! The teigan stuff he's taking to butte, school of mines--kimerlites aint his forte.
How high are cow outfits selling for? Well balanced, decent hay base, good water, prefer foothills.