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http://ih.advfn.com/p.php?pid=nmona&article=43989056&symbol=NB^BVIG
NOTE 5 MATERIAL EVENT (PURCHASE OF HANDCAMP PROPERTY)
During the six months ended June 30, 2010, the Company acquired (the “Acquisition”) 100% of “Handcamp,” a gold property, from Kat in exchange for 161,000,000 shares of the Company’s common stock.
Under the terms of the agreement governing the Acquisition, the Company issued 65,000,000 shares of its common stock to Kat on June 4, 2010, and the remaining 96,000,000 shares of its common stock will be issued as soon as reasonably practical after August 12, 2010.
The shares were valued at $0.70 per share, the closing stock price on the date of the closing, resulting in recorded goodwill $112,700,000. The Company’s management reviewed this potential long-lived asset and determined that the carrying amount may not be recoverable due to unexpected future cash flows being an uncertainty. Thus, an adjustment to write down the asset on such date was recorded.
NOTE 6 MATERIAL CONTRACTS
Kat has entered into a Diamond Drilling Contract dated February 24, 2010 in which Cabo Drilling (Atlantic) Corp. provided certain drilling at the Handcamp property. The contract covers various rates, which in the opinion of management represent market value rates, for mobilization and demobilization, overburden penetration (pipe and casing), core drilling, surveys and tests, etc. A security deposit of $10,000 is to be made prior to commencement of mobilization according to the contract.
NOTE 7 SUBSEQUENT EVENTS
Subsequent to June 30, 2010, shareholders owning a majority of the issued and outstanding shares of common stock of the Company voted to approve (i) an increase in its authorized common shares to 500,000,000 shares and (ii) a change in the Company’s name to KAT Gold Holdings Corp. to better reflect the nature of its operations. The Company’s articles of incorporation were amended accordingly on August 2, 2010.
10
ITEM 2.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND PLAN OF OPERATIONS.
General
Kat Gold Holdings Corp., f/k/a/ Bella Viaggio, Inc. (the “ Company ”) is a development stage company that was incorporated on June 6, 2007, in the state of Nevada. The Company has never declared bankruptcy, it has never been in receivership, and it has never been involved in any legal action or proceedings. Since its inception, the Company has not, other than as described below, made any significant purchases or sales of assets, nor has it been involved in any mergers, acquisitions or consolidations and the Company has no subsidiaries. The Company’s fiscal year end is December 31. The Company has not had revenues from operations since its inception and/or any interim period in the current fiscal year.
The Company’s shares of common stock are quoted on the Over-the-Counter Bulletin Board (“ OTC BB ”). Management believes having its common stock quoted on the OTC BB may provide it increased opportunity to raise additional capital for its proposed business development. However, there can be no guarantee or assurance the Company will be successful in obtaining additional capital. To date there is an extremely limited public market for the Company’s common stock. There can be no guarantee or assurance that a public market will ever exist for the common stock. Failure to create a market for the Company’s common stock would likely result in a complete loss of any investment made in the Company.
Company Overview
The Company has no material income and/or assets (other than the Property discussed below) and has cumulative losses from its inception through June 30, 2010 of approximately $113,000,000. The Company is a natural resources exploration stage company, formed for the purpose of exploring and discovering mineral properties. The Company is currently focused on the mining and resources sector and intends to attempt, subject to, among other factors, its ability to obtain substantial financing, to continue to increase its holdings of gold and other precious metals. The principal objective of the Company is to attempt to locate, mine for and sell mineral properties. It is the Company’s objective to attempt to take advantage of the increased value of precious metals and to generate joint venture clients, and in so doing to become an efficient and profitable, precious metals exploration and mining company. In pursuing this goal, management of the Company currently intends to concentrate any funds it is able in the future to obtain, if any, to explore areas that management believes will have mineral resources. Management’s current plan, subject to other items such as obtaining sufficient capital for the operation of the Property, is to attempt to move forward to the next stage of in-depth exploration, which consists of ground geophysics, trenching and drilling. This phase, management believes, will determine the extent of the deposit along with its value.
The Property
On June 4, 2010, the Company acquired 100% of “Handcamp,” a gold property (the “ Property ”). The Property is located approximately 20 miles north of Badger, central Newfoundland and 6 miles northeast of an abandoned copper mine. Abandoned logging roads run through the Property, which the Company believes will allow for accessibility and mobility of heavy equipment. One 50-yard wide mineralized zone lies within a strata-bound (rock layers) structurally complex zone which lies near a major east-directed thrust within the Roberts Arm Group (volcanic rocks) and is reflected in folding, shearing (fracturing) and mylonite (fine-grained, compact rock) development. Superimposed on the volcanogenic sulfide mineralization is epigenetic (formed after the rocks were laid down) disseminated gold mineralization. The Company believes that the optimal sulfide mineralization is associated with sericite schist (rocks formed under high temperature and pressure) with veinlets and dissemination (finely spread minerals) having been traced over a strike length of almost a mile.
1700 soil samples were collected by representatives of the Company along the grid, which were assayed for gold and base metals indicating what management of the Company believes to be promising results. Rock samples were collected over the prospected areas with numerous samples showing significant mineral content with some gold numbers reaching a high of 158 grams per ton gold, 94 grams per ton and gold, 82 grams per ton gold, along with excellent zinc, copper and silver numbers (massive to semi-massive sulfides). A chip sample was cut over the main Property’s gold deposit that shows an average of 7.1 grams per ton gold over 27feet.
That would great, but if not thats ok with me too.
LOL
http://ih.advfn.com/p.php?pid=nmona&article=43989056&symbol=NB^BVIG
NOTE 5 MATERIAL EVENT (PURCHASE OF HANDCAMP PROPERTY)
During the six months ended June 30, 2010, the Company acquired (the “Acquisition”) 100% of “Handcamp,” a gold property, from Kat in exchange for 161,000,000 shares of the Company’s common stock.
Under the terms of the agreement governing the Acquisition, the Company issued 65,000,000 shares of its common stock to Kat on June 4, 2010, and the remaining 96,000,000 shares of its common stock will be issued as soon as reasonably practical after August 12, 2010.
The shares were valued at $0.70 per share, the closing stock price on the date of the closing, resulting in recorded goodwill $112,700,000. The Company’s management reviewed this potential long-lived asset and determined that the carrying amount may not be recoverable due to unexpected future cash flows being an uncertainty. Thus, an adjustment to write down the asset on such date was recorded.
NOTE 6 MATERIAL CONTRACTS
Kat has entered into a Diamond Drilling Contract dated February 24, 2010 in which Cabo Drilling (Atlantic) Corp. provided certain drilling at the Handcamp property. The contract covers various rates, which in the opinion of management represent market value rates, for mobilization and demobilization, overburden penetration (pipe and casing), core drilling, surveys and tests, etc. A security deposit of $10,000 is to be made prior to commencement of mobilization according to the contract.
NOTE 7 SUBSEQUENT EVENTS
Subsequent to June 30, 2010, shareholders owning a majority of the issued and outstanding shares of common stock of the Company voted to approve (i) an increase in its authorized common shares to 500,000,000 shares and (ii) a change in the Company’s name to KAT Gold Holdings Corp. to better reflect the nature of its operations. The Company’s articles of incorporation were amended accordingly on August 2, 2010.
10
ITEM 2.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND PLAN OF OPERATIONS.
General
Kat Gold Holdings Corp., f/k/a/ Bella Viaggio, Inc. (the “ Company ”) is a development stage company that was incorporated on June 6, 2007, in the state of Nevada. The Company has never declared bankruptcy, it has never been in receivership, and it has never been involved in any legal action or proceedings. Since its inception, the Company has not, other than as described below, made any significant purchases or sales of assets, nor has it been involved in any mergers, acquisitions or consolidations and the Company has no subsidiaries. The Company’s fiscal year end is December 31. The Company has not had revenues from operations since its inception and/or any interim period in the current fiscal year.
The Company’s shares of common stock are quoted on the Over-the-Counter Bulletin Board (“ OTC BB ”). Management believes having its common stock quoted on the OTC BB may provide it increased opportunity to raise additional capital for its proposed business development. However, there can be no guarantee or assurance the Company will be successful in obtaining additional capital. To date there is an extremely limited public market for the Company’s common stock. There can be no guarantee or assurance that a public market will ever exist for the common stock. Failure to create a market for the Company’s common stock would likely result in a complete loss of any investment made in the Company.
Company Overview
The Company has no material income and/or assets (other than the Property discussed below) and has cumulative losses from its inception through June 30, 2010 of approximately $113,000,000. The Company is a natural resources exploration stage company, formed for the purpose of exploring and discovering mineral properties. The Company is currently focused on the mining and resources sector and intends to attempt, subject to, among other factors, its ability to obtain substantial financing, to continue to increase its holdings of gold and other precious metals. The principal objective of the Company is to attempt to locate, mine for and sell mineral properties. It is the Company’s objective to attempt to take advantage of the increased value of precious metals and to generate joint venture clients, and in so doing to become an efficient and profitable, precious metals exploration and mining company. In pursuing this goal, management of the Company currently intends to concentrate any funds it is able in the future to obtain, if any, to explore areas that management believes will have mineral resources. Management’s current plan, subject to other items such as obtaining sufficient capital for the operation of the Property, is to attempt to move forward to the next stage of in-depth exploration, which consists of ground geophysics, trenching and drilling. This phase, management believes, will determine the extent of the deposit along with its value.
The Property
On June 4, 2010, the Company acquired 100% of “Handcamp,” a gold property (the “ Property ”). The Property is located approximately 20 miles north of Badger, central Newfoundland and 6 miles northeast of an abandoned copper mine. Abandoned logging roads run through the Property, which the Company believes will allow for accessibility and mobility of heavy equipment. One 50-yard wide mineralized zone lies within a strata-bound (rock layers) structurally complex zone which lies near a major east-directed thrust within the Roberts Arm Group (volcanic rocks) and is reflected in folding, shearing (fracturing) and mylonite (fine-grained, compact rock) development. Superimposed on the volcanogenic sulfide mineralization is epigenetic (formed after the rocks were laid down) disseminated gold mineralization. The Company believes that the optimal sulfide mineralization is associated with sericite schist (rocks formed under high temperature and pressure) with veinlets and dissemination (finely spread minerals) having been traced over a strike length of almost a mile.
1700 soil samples were collected by representatives of the Company along the grid, which were assayed for gold and base metals indicating what management of the Company believes to be promising results. Rock samples were collected over the prospected areas with numerous samples showing significant mineral content with some gold numbers reaching a high of 158 grams per ton gold, 94 grams per ton and gold, 82 grams per ton gold, along with excellent zinc, copper and silver numbers (massive to semi-massive sulfides). A chip sample was cut over the main Property’s gold deposit that shows an average of 7.1 grams per ton gold over 27feet.
Erock, Here I will quote you"
My only point was to clear up the misleading post by a user who cliamed this was "new" and that "vale finally mentioned KATX in a story on reuters".
Eric, Are you saying that the company does not have a JV with Vale, show me where is says this is not true.
Vale is a HUGE company and they did do a Option to JV with KATX on the Lucky Propery.
PRINTED TO PDF.
I'm sorry my english is not perfect, it is the other way around
Vale put this JV news out to their share holders and the world and this is great news, soon in my opinion they will do it again.
This might be old news but is it news to Vale stock holders.
Bye until tomorrow
And you are wrong and again, and please use more respect when addressing me, If you buy at the ask it will go through, try it.
and BVIG = KATG
Now go to your ROOM
VALE IN A RUITERS STORY (FOR THE FIRST TIME) MENTIONS OPTION DEAL WITH LITTLE KNOWN KAT EXPLORATION !!! "the bigest finnaly announced deal with the smallest" * ((( HERE IS COPPY OF GOOGLR SEARCH LAST 24 HRS. ))) 6. Vale S.A. (VALE.K) Key Developments | Reuters.com
5 hours ago - KAT Exploration, Inc. announced that it has signed an option agreement with Vale Exploration Canada Inc. (VEC), a wholly-owned subsidiary of Vale (VALE), ...
www.reuters.com/finance/stocks/keyDevelopments?rpc=66...VALE... http://www.reuters.com/finance/stocks/keyDevelopments?rpc=66&symbol=VALE.K×tamp=20100810114500
I moved from Russia to America, So not any more. LOL
I agree, with you !!!
NO BVIG, IS KATG.
READ THR PR
JUST A NAME CHANGE
And twice again you are incorrect, I have bought shares and I was on the phone with Bob and his stock broker when he bought the BVIG shares.
So I bought some too.
You might say, The Judge is a witness in this case.
Please be more careful from here on. OK!!
Case closed.
RJ
excuse me, but you are wrong now. I just bought 5000 shares a little over a week ago.
I have been out all day whay did I miss?
Is it KATG yet?
ACQUISITION OF NEWFOUNDLAND COPPER PROJECT
Celtic Minerals Ltd., (CME:TSX-VEN) is pleased to announce that it has entered into an option agreement with Kat Exploration Inc., a private Newfoundland based mineral exploration company, to acquire a 75% interest in the Colliers River copper project, near Conception Bay, Newfoundland. A diamond drill has been mobilized to the property and drilling is underway.
Colliers River Copper Prospect The Colliers River copper prospect was discovered in the 1850’s but has never been the
focus of a drilling program. A vertical shaft, reportedly 30m in depth, was documented in the 1850’s near the main area of mineralization. The prospect lay dormant until the summer of 2006 when local prospectors stripped the overburden surrounding the historic shaft and
exposed an area measuring approximately 40m x 15m (600 m²). When the bedrock waswashed, a fractured mafic volcanic flow and flow breccia containing an abundance of copper filled micro fractures were seen extending to the limit of the stripped area for approximately 10-15m and adjacent to a southwest trending shear zone. Copper minerals identified include bornite, chalcopyrite and covellite. Seven grab samples were collected from the exposure and the average values of all samples assayed 8.65% copper and 61.59
g/t silver. The seven samples ranged from .09% to 23.6% copper and from 0.3 g/t to 236.3 g/t silver. A subsequent channel sample was cut by another exploration company during a site visit, using a diamond saw blade, and averaged 11m @ 1.48% copper and 6.63 g/t silver. The potential quantity and grade is conceptual in nature and there has been insufficient
exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Celtic’s
Collier is Solid GOLD
I dont know what DD you do and friends that you chat with here, but what I have read from the Previous PR's
The stock holders are looking at a HUGE gain.
This will be good for every goverment and ecomeny.
Get in line monday
The only thing I am shocked about is your statement's. This company Katx and BVIG looks to be golden!!!!
What is a sell bomb?
I have money here and I think I will never sell.
Why would I?
So the PR said we have real gold here on Handcamp!!!!
Klasna!!!!
Thanks Biochemist,
I read it all and recomend it for all.
See you on the Moon.
Are we goin to the moon today?
I just saw a ad on Pennystock chaser. Please tell me more about Kat.
Gold Stock Sounds Good To Me
Spasibo!