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The float of appx 39 million shares as of Sept 15, 2015 seems strange. I recall the float of MBMI pre-split was a mere 8 million. Where did the additional 38.2 million shares post split come from? Surely someone is confused as there are 11,491,135 more outstanding shares than are authorized. Help me out pitboss, there certainly appears to be a "plethora" of strange stuff going on with these guys.
Hello Beyond Barite,
What, if anything, prohibits the company from developing and commencing mining operations on the expanded areas adjacent to Dodge mine blocks 1 through 6 where Valentine has no legal claim of ownership? According to the company's own pr's and gravity mapping data, the barite veins extend into these areas prompting the acquisition. This was also in a news article in one of the Zimbabwe news papers.
Logic would dictate that if the company is prohibited from continued mining at the original Dodge mine blocks 1 through 6 due to legal issues with Valentine and with barite deposits extending beyond the original mine, then it would make sense to commence infrastructure and drilling operations to confirm the deposits. Such action by the company would be more prudent and possibly create more shareholder value than waiting more than a year for a court decision that may or may not be favorable for MBMI.
And then there is the Raptor mine. No news at all about that.
Valentine may have caused a suspension of operations on Dodge mine, but how does he and his law suits play into the areas where he has no claim? How is Valentine prohibiting the companies from mining Nickel? How did he prohibit gold production?
A plethora of unanswered questions that leave shareholders with almost worthless stock and some with certificates worth less than the paper they were written on.
Peter Valentine may very well be a con-artist and thief, but maybe those in the "know" should comment on what the company is doing to create shareholder value instead of focusing on Valentine.
It was not MBMI that made the statement that Kinsey probably went heavily into debt to purchase new equipment for a contract that fell through.
It was not MBMI that said Kinsey was forced to accept an offer of $5 million USD in stock for a 25% ownership.
MBMI did not make the statements. I was hoping those that did, or believe such, could come up with factual proof.
The statement "Kinsey probably went heavily into debt to purchase the new equipment for the contract that fell through." is repeating a rumor. If it is not a rumor, what contract fell through and who was it for?
The statement "That more or less forced them to accept MBMI's offer of $5 million worth of stock for a 25% interest" is dependent on the first statement being factual and not just a rumor. It would also be dependent on Kinsey's financials that I am relatively sure no one on this board has a clue about.
Maybe someone can answer the questions;
a.) When did Kinsey purchase new equipment?
b.) What was the project Kinsey had that fell through?
c.) Who was the project for that supposedly fell through leaving Kinsey with new equipment and a lot of debt forcing them to accept an offer from MBMI that is nowhere to be found (the offer that is) in exchange for $5 million USD worth of stock for a 25% interest in the company that will just turn out to be 25% interest in a large debt?
I cannot find answers to any of the above questions. Maybe someone can help with actual facts.
Who said anything about an exemption? I said (or meant) compliance.
Where has the company espoused that they were the target of a smear campaign? Although it appears that they most certainly are the target of a concerted smear campaign, I don't recall them ever mentioning it.
Most if not all said about Al P and company is subjective at best.
I wonder if not having Mr Groves (I've been spelling it wrong) signature on a tribute agreement is the reason Peter Valentine beat the crap out of him. If Peter Valentine needed a signed tribute agreement from Mr Groves, I guess that makes Mr Groves the legitimate owner of the mineral rights to the property and why it has been reported there is a restraining order against Peter Valentine.
$99.11 per ton for the publically traded 49% owner in accordance with Zimbabwe Law, MBMI. That's over $200/ton according to my calculations considering the 51% indigenous owner is not forecasting revenue.
The 4.22SG API grade barite is getting harder to come by and there are ongoing efforts to revise this down to a SG of 4.1 for API use. I'm sure that some familiar with this could verify.
How is it known how many tons have been produced? Privileged information? Or has Kuda and/or Peter Valentine been to the Mine and made a report? Or is this the continuation of the smear campaign against Al & company?
[1] Much more proof than the smear campaign based mostly on opinion against Al P., his background and RRHI/MBMI.
[2] Can't find anything related to anyone referring to or suggesting that there were US sanctions against Peter Valentine. Where did that come from? Not an apple or an orange. Or was that suggested to distract from factual evidence documented in HC cases in Harare with Peter Valentine's name on them?
[3] I have read the MMCZ Act and opine that Section 43 will allow the company to export minerals without having to sell it to the MMCZ so they (the MMCZ) can market and sell the mineral. That's the gist of the Act anyway, right? I guess we will see once or "if" BHI is possession of their first shipment of barite in compliance with both Zimbabwe and US Law. I used the word "if" above not that I have any doubts, but for the sole purpose of indicating I am not a broker, possess privileged information or even care what anyone thinks of my opinion.
[4] There is absolutely no proof regarding the endless smear campaign against Al P and the only mud being thrown is at him and RRHI/MBMI.
[5] The precious metal is gold. No other. Just diamonds and gold. All other minerals and metals are to be marketed and sold by the MMCZ unless...
[1] Then why did Mr Grooves have to take Peter Valentine to court charging him with mining and selling barite and not reporting the sale to Mr Grooves nor paying the tribute thus violating the tribute agreement? A small over site on Valentines part? Its in a HC case. Tell us more about his part in the auto scam. Its in an HC case as well. Once again NOT BS.
[2] You have apparently NOT read Section 43 of the MMCZ Act as I am sure "permission" would not have been granted such an individual like Peter Valentine by such an agency given Peter Valentines history of NOT reporting sales and paying or abiding by a tribute agreement (see #1 above). And his rather questionable business practices as well.
[3] MBMI is apparently in compliance with ALL Zimbabwe law.
[4] Companies like MBMI, in compliance with Zimbabwe law, does not appear to be externalizing funds from exploiting minerals ( compliance with the law part, a 51% indigenous owner) nor do they appear to be exploiting a labor force by beating workers and an 89 year old man as Peter Valentine has been accused of.
If Peter Valentine is such an outstanding law abiding citizen of Zimbabwe, then why is his name on multiple HC cases (mostly as a respondent) and apparently on a first name basis with all the judges and attorneys in Harare? Why is Peter Valentine NOT mining the barite at Dodge Mine and exploiting and beating the local labor force? Why has Peter Valentine NOT exercised his right granted, as you say, given him through a high court ruling? What did Peter Valentine receive $10k USD for? Why is Peter Valentine NOT as happy as Mr Grooves appears to be and an Honorary Advisory Board Member of RRHI/MBMI? No honor? That would explain everything.
I imagine this and all the other forums exist for people to express their opinions. Nothing wrong in having one. Mine just happens not to be on the side of a scam.
The 49% is not BS but in compliance with Zimbabwe law.
If the price to mine the barite is $200/ton, then I guess a "feasibility study" wouldn't matter anyway and not worth the time and expense nor the paper it would be written or has been written on. And I guess all the companies involved and have been involved with this project have and are wasting their time on a pipe dream. Now I don't believe THAT for second.
I came to the conclusion a long time ago that there is absolutely nothing this company can do or say that would satisfy concerns, if that is what they really are, of some who by their own words are not invested in the company(s). We'll just have to wait and see.
Excuse me. 225k tons.
My math indicates that the barite is selling for ~$200/ton considering the forecast of $22.3 million for 225 tons. Remember the 49% ownership?
Regardless of citizenship, any export of minerals and metals must go through the MMCZ as per the Act. Section 43 allows for "permission" if you will for the sale of the minerals and metals covered, but requires reporting. Peter Valentine did not report the sale of the illegally mined barite to Mr Grooves and it is doubtful he reported it to the MMCZ.
That raises another question regarding the sanctions against the MMCZ. Why would the government of Zimbabwe forgo much needed tax revenue as would be generated by the sale of barite? Especially if the quantity of the deposit is "massive" and has a large customer base all over the world with many applications.
Not apples and oranges.
I must have missed the less than $100/ton sale price. I only saw the three shipments worth $3 million each without specific tonnage and price figures. All I saw was opinionated speculative guessing by posters. Where can I find the price per ton figure and the shipping tonnage quoted by the company?
Who received the shares? Kinsey?
Try reading Section 43. If that does not work, read it again. They can bypass the requirements of the MMCZ by merely gaining approval and reporting the sale. For tax revenue purposes I suspect. Did Peter Valentine bypass the MMCZ and Section 43 when he was selling barite illegally from the Dodge Mine? He certainly did not report it to the owner, Mr Grooves, nor did Mr Grooves get his tribute thus violating the tribute agreement and losing all rights to the property. So I understand.
First, only the company and BHI know what they are going to pay for the barite. As API grade barite is selling for appx $150/ton, why would MBI or any other company mine the stuff for a loss. Feasibility.
Second, BHI is not a partner, but a customer unless they have exclusivity for the API grade barite. That would certainly make them a partner of sorts. Kinsey has a financial stake in their success. I suspect that Yasheya and Steinbock do as well. If MBMI cannot supply the barite, Steinbock cannot market the stuff and Yasheya cannot ship it and do not make any money and most certainly have wasted their valuable time. Lets not forget about NRZ and PHI. They stand to gain as well.
Third, the Aug 31 deadline has come and gone but that does not mean a new PO is not in the works nor that the first shipment they (BHI) receives is more than the $3 stated in the original PO. Having to wait so long for their permit to begin mining may have given cause for a revision.
Who did the 20 million shares go to?
Would not be surprised if in the future we see a PR stating the company (RRHI) acquires the rights from Stan and Craig for the OCT/NIR imaging modality. Funding was a problem. With success in Zimbabwe, they may just have the funding to expand into this "mother of all gold mines" as stated by Stan.
I think a feasibility study backed by (current day) drilling as well as a geologic report would have most certainly been needed if management were soliciting large dollar investments through private placements and public offerings. I have seen neither.
Instead, I suspect, they have opted to commence mining operations with partnerships such as Yasheya, Steinbock, PHI, NRZ and WGB Kinsey with a 3 million ton MSA and a PO for $9 million worth of barite with BHI. I would be hesitant were it not for such partnerships and agreements as I think these companies know what they are getting into and do not think all of these companies are colluding in on some sort of scam. Do you?
In a photo on the MBMI website did I not see a drilling rig with drilling core pipes? Or could the drilling rig is just for blasting holes and the core pipes for show required for the scam?
An expensive and not very smart scam since they are not putting shares up for sale.
Plagiarizing geological terminology is ridiculous. Who indicated they needed to plagiarize anyone in the first place? There is no indication of wrong doing here on behalf of the company as I am sure they had only repeated a geologic description provided them by geologists.
How do you know they googled it anyway? They would have had to have known the deposit is an irregular shaped orebody. I don't think they googled Dodge Mine and came up with that information.
Did the geoguy plagiarize the Dept. of Geology, Aligarh Muslim University who in turn plagiarized the book Mineral Deposit Geology and Models by Anthony M. Evans and Charles J. Moon, Chapter 3, Disseminated deposits? Maybe Holmes and Robb did some plagiarizing as well.
Plagiarizing an Indian University is somewhat of a stretch.
That same information can be found at www.xmind.net/m/SFSK and I do not think the article by geoguy was plagiarized either.
Look at Section 1.2 Irregularly Shaped Orebodies
then pay special attention to subsection 1.2.1 Disseminated Deposits
I think you had asked for an example. Now there are two.
Does not making a feasibility study public or even having one, prohibit the company from selling barite, limestone or talc? Does it prohibit the signing of a Master Service Agreement or even a Purchase Order?
If the companies (RRHI/MBMI) are running a scam, wouldn't the relationship between " widespread occurances of gossan deposits" and "massive sulfide deposit" and gold have been a better story line with which to trick investors into this very poorly run "pump and dump" scheme instead of the barite?
Last I checked, barite was going for around $150/ton and gold around $1400/ounce.
Just sayin.
Not sure but I think the waste rock may be limestone and talc, which do have an economic value. How much? If one believes Ascon Africa, at least 500k+ tons of limestone.
I think that we may want to look at the description (geologic) as outlined in another PR. "Of key interest is the documented widespread occurrences of Gossan deposits indicating a massive sulfide deposit often associated with gold, nickel, copper and lead".
This is where the silver along with many other minerals and metals associated with Sedex (Sedimentary Exhalative Deposit), VMS (Volcanogenic Massive Sulfide Ore Deposit) sometimes referred to as VHMS (Volcanic-Hosted Massive Sulfide Deposit), and a hybrid known as VSHMS (Volcanic - and Sediment - Hosted Massive Sulfide Deposit). The VSHMS is subclass of VMS/VHMS that share some characteristics of both the VMS/VHMS and Sedex Ore Deposits.
These types of deposits (Massive Sulfide) represent the vast majority of the worlds Cu, Zn, Pb, Au and Ag ores with Co, Sn, Ba, S, Se, Mn, Cd, In, Bi, Te, Ga and Ge as mining by-products.
Gossan deposits are what the old, and I suspect current day gold miners look for.
Gossan is defined as being an iron-bearing capping over a sulfide deposit. If the underlying sulfide deposit contains gold, the gossan will also contain gold. In fact, gold is often enriched in gossan.
Its possible that the company already knows whether or not the gossan contains gold. I know I would have had it sampled and tested before the barite was. If there is gold in the gossan there will be gold in the host rock, therefore making the limestone, talc and even the barite overburden. Chances are core drilling has been ongoing or commenced upon receiving their permit to begin mining operations, otherwise all they have to go by is the 4 or 5 holes drilled in the 1960's and the adit tunnels.
BTW- the Shamva Gold Mine, in close proximity to the Dodge Mine and one of the richest gold mines in Zimbabwe, reported they were converting the mine to Open Cast. Just thought I would throw that in for good measure.
I highly suspect that it was the geologists involved with the project who wrote the geological description and nature of the deposit(s) and no one in management.
Department of Geology, Aligarh Muslim University, Mode of Occurrence of Orebodies - Morphology and Relationship with Host Rocks. This is but one source.
A question was posed as to my use of the term veinlets. It came from the RRHI PR of May 07, 2012.
Raptor Resources Holdings, Inc, is pleased to announce that the gravity mapping program of Dodge Mine (Shamva, Zimbabwe) has started. With outstanding recommendations from barite geologist experts, the Company has solicited the services of MWH GEO-Surveys Ltd. (http:www.mghgeo.com). Kevin McNabbh, owner/operator recently completed a pre-site survey of Doge Mine to ensure the gravity mapping parameters of the hydrothermal mountain range are optimized to capture the multiple barite lenses across the property with additional recommendations to indentify a variety of mineral/metal deposits.
Dodge Mine is classified as an irregular orebody with close-spaced veinlets cutting the host rock and form an intercalated network of cylindrical or cap-like deposits cutting across geologic boundaries
Irregular shaped orebodies: Irregularly shaped orebodies are of two types - disseminated deposits and irregular replacement deposits.
a.) Disseminated deposits: In these deposits, the ore minerals are dispersed throughout the body of the host rock e.g. diamonds in kimberlite. In other deposits, the disseminations may be mainly along close-spaced veinlets cutting the host rock and forming an intercalated network called a stockwork. This kind of minerlization generally fades outward into the sub-economic mineralization and the boundary of the orebody are the assay limits. They are therefore irregular in form and may cut across geologic boundaries. The overall shapes are cylindrical or cap-like.
I have obviously NOT seen the original report and have not indicated that I have. I have only seen what is on RRHI's website and in PR's and most certainly do not believe they are lying or fabricating reports or information as a scam to fool investors.
As reported by the company from geologists, both working for and independent (the independent part is from a third party oil and gas drilling sector company geologist that we can assume works for Baker Hughes), "The Dodge Mine is classified as an irregular ore body with close-spaced veinlets cutting the host rock and forming intercalated network of cylindrical or caplike deposits cutting across geologic boundaries" From that description, a novice such as myself could deduce that it is a vein deposit.
One can assume that the Dodge Mine deposits are Sedex as the vast majority of the world's barite deposits are considered to have been formed by Sedex Mineralization process. If thats the case then the company left out not only the Silver, but the Zinc, Bismuth and Tungsten. You left out in your critique the Bismuth and Tungsten or Wolfram if you prefer.
It could be a VMS/VHMS deposit though. The massive sulfide deposit statement is interesting as well. Any ideas other than a scam?
ADIT comes from the Latin aditus meaning an approach (in mining) an entrance to an underground mine which is horizontal or nearly horizontal by which the mine can be entered, drained of water, ventilated, and minerals extracted at the lowest convenient level. Adits are also used to explore for mineral veins.
If that definition is wrong, you should correct a few people.
Thanks to both you and gitreal for guidance in navigating Google Earth. Since I have learned something today, I can take the rest of the day off.
I am very much aware of the 5 holes drilled in 1966. I am also aware that the drilling project was stopped when it was confirmed that 400k+ tons of barite was verified and more than enough to meet the demands of South Africa at that time. I am also aware that the price of barite in the late sixties forward until recently was not economically viable to export anywhere else but to South Africa and then most probably, depending on quality and use, at a very small if any profit. Certainly not enough to warrant the additional expense of continued drilling over the entire Dodge Mine blocks. That of course is just my opinion.
There is at least 400+ tons of barite verified. Verification depends on ones ability to believe the report of ASCON Africa. Apparently, BHI believes it as well as Steinbock, Yasheya, PHI and Kinsey. Who am I to argue with them.
I look at the tooth marks made by excavators at the entrance to the ADIT Tunnel as just clearing dirt from around it while others believe it is staged to fool investors. Again I will side with BHI, Steinbock, Yasheya, PHI and Kinsey in believing that there is much more than just 400k+ tons of Barite just waiting to be mined as well as other minerals and metals. I have said before that I consider the limestone and talc as overburden as well as a monetary bonus on top of, underneath and adjacent to the barite deposits and the other minerals and metals that make up the Dodge Mine.
I originally invested in Lantis Laser and was very disappointed when the imaging modality was let go. But again, who am I to argue with managements decision. Funding for the modality was a problem and still is, but I will certainly take a chance and invest in it again if the opportunity ever arises.
I certainly appreciate you wishing me good luck in this venture. As I currently enjoy a gain in my investments in MBMI, on paper I might add, I certainly have not entertained disposing of any now or in the immediate future. However, a 47 FL remains in a barn with my name on it.
Time will tell if I am correct or a fool with a little money to lose as well as a 47 Knuck.
Not to change the subject line, but I am very hard pressed or lack the expertise and ability to find an aerial photo of the Dodge Mine dated July 14, 2013. The latest photo on Google Earth shows an aerial photo which looks similar to the one in the intro except it is dated 4/9/2013. Zoomed in as the one in the intro, the photo is dated 9/25/2012. Google Earth Pro shows the same images and dates. I can only assume that Google Earth nor Google Earth Pro was used. A time stamped aerial photo would be more convincing and appropriate than one without such a time stamp.
The trick question regarding the term ADIT. I suspect that the terminology is not universal although approximate. As Southern Rhodesia gained its independence in 1980 after 90 years as a British Colony, I suspect that one of the definitions of an ADIT Tunnel found at www.encyclo.co.uk/define/ADIT would be appropriate.
"ADIT - a horizontal or inclined excavation that has an outlet to the surface and is designed to facilitate mining operations. ADITS can be exploratory or used for working deposits. Transport, ventilation, and water-removal ADITS are distinguished, depending on their purpose." This is but one definition of an ADIT Tunnel and comes from a Russian dictionary with a warning of course as it is dated 1979.
Of the time stamped photos on the Mabwe Minerals website dated 8/27/2013, it appears that 2 principles of the company, Al and J4, are standing in front of the entrance to an ADIT tunnel. It also appears that much work was done prior to this and other time stamped photos of the same date. It also, at least to me, indicates that the company began mining and infrastructure operations at the Dodge Mine when they indicated they did. A little more than just pushing some dirt around and building a few sheds in an expensive effort to defraud investors and potential investors.
I'm doing fine, mahalo
The document I refer to is the 8K filed Feb. 14, 2012. There was a news release as well. Maybe of the same date but I don't know.
The language is pretty specific in that it states that "Along with" as in addition too. It also states that "TAG-Z has canceled the Chiroswa shares it received under the sale of share agreement and intends to conduct mining operations on the Dodge Block itself. This statement alone indicates that they are referring to two separate transactions.
Further on in the 8K:
1.14 "Subject Matter" means the subject matter of the sale of 50% of Issued Shares of Chiroswa Minerals (Private) Limited held by John Richard Needham Groves recorded in this agreement, namely by his Sale of Shares; as evidenced and recorded in this agreement with all Dodge Mine Claims as referenced in annexure 1;
The "Subject Matter" is referring to The Sale of Share Agreement (50% of Chiroswa) AND the Dodge Mine Claims as referenced in annexure 1. As no signature was needed by Mr Valentine to sell the Dodge Mine Claims, he did not own them.
Not owning the claims brings us to the tribute agreement. If Mr Valentine did not and does not own the Dodge Mine Blocks 1-6 how can he demand a tribute? I think that has already been answered.
Still trying to figure out why he got $10K. Maybe he didn't due to the cancelation of the "Sale of Share Agreement" and he is mad.
All of this is just my interpretation and opinion.
The first sentence in the press release ( and/or ) 8K of February 14, 2012 I found to be very interesting and telling:
"ALONG WITH the purchase of Dodge mine Blocks 1-6, TAG-Z received 50% of the issued and outstanding shares of common stock of Chiroswa Minerals (PVT) Limited ("Chiroswa") and inactive company originally formed to conduct mining operations at Dodge mine. Since Chiroswa is not an operating company TAG-Z has canceled the Chiroswa shares it received under the sale of share agreement and intends to conduct mining operations on the Dodge Blocks itself.
Its pretty evident that TAG-Z purchased Dodge Mine Blocks 1-6 from the owner, John Richard Needham Groves and had intended to purchase 50% of the inactive company, Chiroswa, for the mining operations. Two separate purchases. Its like buying a hot dog and hamburger at a 7-11 and upon seeing how nasty looking the hamburger is, only purchasing the hot dog.
Mr Valentine may certainly own 50% of Chiroswa Minerals (PVT) LTD, but according to the documents made available, Mr Groves owned 100% of the Mineral Rights of Dodge Mine Blocks 1-6 and was certainly able to sell them without the consent of Peter Valentine.
In section 5.1.1, Peter Valentine got $10,000.00 USD. For what? Is he now attempting to extort the company now that he can see a very, very prosperous operation and future for Dodge Mine?
Saying that omitting pages 2,4,5,6,7,8,9,10,11,12,&13 from a Judges ruling because they were irrelevant is non-sense and a little suspect. They are relevant as they describe the circumstances and/or laws for which a decision is/was made.
I also found suspect that the news paper article referenced in one of Kudakuwasha' posts is on Baseminerals website and not the website of the paper it was published in.
And I thought that the Minister of Mines was to be in court this past February. Maybe Baseminerals can put the outcome of that court case on their website as it is nowhere else to be found either.
Kudakuwasha
[1] I have not commented on the case being thrown out of court.
[2] I cannot comment on the case being thrown out of court because what you have made available on Baseminerals Zimbabwe website is incomplete. Meaning: what happened to pages 2,4,5,6,7,8,9,10,11,12,& 13? Furthermore, I see what appears to be different dates on some of the documents.
[3] I have made no claim of anything being fraudulent am and in denial of anything.
[4] Since todays date is Aug. 11, please provide documentation pertaining to the adherence to the Judges final order of what appears to have been signed on May 3, 2013. If the Minister of Mines spent 30 days in jail, it should have made the news. If not PV should be mining Dodge Mine right now and not posting on this board.
I thought referring to another poster in a derogatory manner such as "insane" was a violation of the rules on this board. If so, why does the post still exist?
Checked the daily news for "Mine row scuttles Mabwe's plans", 23 July 2013. The title exists but the article does not. What happened? Does it take the daily news more than 3 days to put the entire article on the web?
What does exist is the article "US-based miner commences Zim ops", 19 July 2013.
Why would the article, including its title exist for the headline of July 19, 2013 and the one of July 23 only have a title? Did the daily news pull the article? If so why? I can't find an answer or the entire article anywhere.
The price I quoted came from the Industrial Minerals website April 12th price briefing. "Chinese barite dropped again - 130 -140 to 155 -130" ( didn't quite understand that ). "Gulf coast dropped from 155-160 to 147-154." But that was over a month ago and I think demand has dwindled a little more since then.
From the company's website about the Dodge mine, "The property lies in the southern range of the Shamva Gold Belt. Gravity mapping of the property indicates massive deposits of barite with an on-going core drilling program to continue developing the proven reserves in addition to further exploration of reported widespread occurances of gossan deposits often associated with gold, nickle, copper and lead".
I have not read that the company stated they did not need to core drill nor prove reserves or need reserves. That is contrary to what is on the company's website and the ability to fulfill a long term (13 year) agreent with BHI.
The canceled shares of Chiroswa are included in an 8K filed by the company. Why were they canceled? Because it was a non-operating company.
It is my opinion/understanding that Chiroswa was formed to mine the Dodge Mine property but did not own the Mineral rights to the property. Mr Groves did. Mr Groves also owned 50% of the mining company Chiroswa which was formed to mine the property. The Mineral Rights stayed with Mr Groves.
It is also my opinion/belief that RRHI/MBMI had at least thought about Chiroswa mining the property but their shares were canceled. Maybe they thought dealing with Mr Valentine would have been a very bad idea.
In one of the court cases Mr Valentine lost, he was instructed by the court to remove all of his mining equipment and fence off areas that would put people and livestock in danger.
One need only search "East African Oil and Gas Discoveries" to come to some sort of idea why there are so many people wanting to be involved with MAB-Z.
I would agree if the circumstances surrounding the ruling were different. But Mr Valentine' claim of shares in the company were in question and not satisfied by the court.
The Judge; "In my view the applicant's (Peter Valentine) representative has not satisfied me that he has "locus standi" to institute proceedings on behalf of the applicant".
Mr Valentine attempted to prove ownership of the company (the applicant) and he could not and his claim of ownership was not accepted by the court.
He now claims ownership in Blocks 1 thru 6 of Dodge mine, but there were tribute agreements that were not paid to Mr Groves and as such subject to breach of agreement and subsequent cancellation. In finding the case in the HC of Harare, I suspect to find terms such as "locus standi" and "limine" appearing in an unfavorable ruling regarding Mr Valentine's claim of ownership as is the case here.
If he has made false claims of ownership and attempted to mislead in the past, then how can we, or even the High Court of Harare give any credence or belief of any claim of ownership now.
All Mr Valentine need do is prove "locus standi", that is, prove the right to bring action, to be heard in court or to address the court on a matter before it.
And finally, the Judge' ruling on HH 4-2010 & HC 1747/09; "For all the reasons stated above the application is ill-conceived and it therefore must fail. In the result the application is dismissed and the applicant (Mr Valentine) is ordered to pay the costs of the application."
It appears that Mr Peter Valentine is no stranger to the High Court of Zimbabwe nor to disputes as to ownership of shares in a company. I refer to Mydale International Marketing (PVT) Ltd v Kelly and Another, HC 1747/09 (Harare 18 June 2009 and 13 Jan 2010).
From the ruling the Judge states; "The effect of the order would go beyond what OMERJEE J ordered and would in effect have the effect of confirming that Mr Peter Valentine did own shares in the applicant without a proper resolution of the dispute as to who owns shares in the applicant.
The Judge further states; " The question as to who owns shares in the company is, I believe, directly linked to the point in limine raised by the respondent as to the locus standi of Mr Valentine in instituting these proceedings."
Seems Mr Valentine conviently appears and files with the High Court of Harare when companies he may or may not be associated with or possess shares of, are awarded sums of money from a law suit or, as in the case of Chiroswa, may come into sums of money. If he has done it once, questions of his claim to owning shares of Chiroswa, or his entitlement to the shares are certainly warranted. Seems I read that conclusion here.
I have included definitions of limine and locus standi for clarity.
def limine - referring to a motion in limine is usually made to exclude reference to anticipated evidence which is objectionable so that a determination of admissability of the evidence can be made outside the presence of a jury. Such motions seek to avoid having the jury tainted by irrelevant, inadmissable or prejudicial evidence.
def locus standi - the right to bring an action, to be heard in court or to address the court on a matter before it.
The drilling report? Expect that to be exciting on a few fronts. Not that it has anything to do with getting the minerals and metals to market, but I expect it to be exciting just the same.
Under Section 42 of the MMCZ Act, the sale and export of metals and minerals except for Gold and Silver are prohibited inside or outside of Zimbabwe, (a) " except when authorized to do so by the Corporation in terms of section 43 and in accdordance with the terms and conditions of such authority."
Section 43 - Sale and export of minerals through Corporation
(1) Any person who wishes to sell any mineral, either inside or outside Zimbabwe, or to export any mineral from Zimbabwe shall advise the Corporation with -
(a) particulars of the quantity, type, grade and location of the mineral concerned; and
(b) details of his proposal, if any, for the sale or export of the mineral, including the terms and conditions of any proposed contract or arrangement relating to the proposed sale or export, as the case may be; and
(c) such other particulars and documents as may be prescribed or as the Corporation may in any particular case require.
(2) On receipt of advice in terms of subsection (1), the Corporation may, subject to this part, in its discretion do any of the following things -
(a) with all due expedition endeavour to negotiate on behalf of the seller of the mineral concerned, so far as possible in accordance with any proposal submitted by the seller; or
(b) purchase the mineral concerned from the seller, on such terms and conditions as may be agreed between the Corporation and the seller; or
(c) authorize the seller to sell the mineral concerned subject to such terms and conditions as the Corporation may impose; or
(d) authorize the export of the mineral concerned, subject to such terms and conditions as the Corporation may impose.
Section 43 allows for the seller to sell and export mineral(s) and/or metal(s) as long as the seller is authorized to do so by the MMCZ. I have based this interpretation of the law on the court case "Leaholm Enterprizes (Pvt) vs. Zimbabwe Revenue Authority".
What remains confusing is why such authority, if any, has not been made public by RRHI/MBMI. I think the stock price(s) might reflect such an answer to the question surrounding the MMCZ. Or at least to those who can recognize that the MMCZ may be a problem.