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You're right, it was a bad investment. I'm not an attorney, and don't like attorneys. A few of us are considering buying controlling interest in the stock and seeing if we can get it back up where it was, by putting real assets into the company. Dyou have a problem with that?
Have you ever met or spoken with McFarland or Donaldson? What about the stock ownership? Have you investigated this? As an anonymous contributor, you can say whatever you want without fear of legal consequences. I suggest that as an ethical person, before you start writing you get ALL THE FACTS.
True, it is easier to run a scam if no one is looking, but the audits required by the SEC cost $5000 per quarter, add to that another $3000 plus in attorney's fees and a few thousand to pay for the stock to be traded digitally and it adds up. That is why, McFarland and Donaldson traded their Helmer stock to the company in exchange for the private company (Excelsior Gold Corp)and mining properties.
What will happen now is anyone's guess.
I agree that Klok, and his attorneys are less than honest. What is your proof that the present directors are scam artist? Do you have any proof that they took money out of Helmer or Alto, or that they profited by taking stock? How much money did McFarland make? How much stock did he have in Helmer or Alto. Please do your research. thank you.
Please do your research before you slander people. Glen Zinn was CEO of Bell Copper Corp, and VP of Hecla Mining. Check it out, then apologize. Juan Gutierrez was attached to our embassy in Peru,retired as a GS-14 Mining Engineer from the USFS then started Mine-Seal. Paul Donaldson is a Professor at Boise State University. Roger Gill was a Senior Geologist for ASAMERA. What are your credentials?
McFarland recently purchased Excelsior Gold Corp from Helmer Directional Drilling and is running it as a private company and taking the Excelsior Project forward. Please get your facts straight.
Yes I lost a lot of money. I take full responsibility for that and do not blame the Helmer BOD or management. The market down and all mining companies are having problems. This is not unique to Helmer.
Please don't twist the facts. I agreed that there is an ethical problem with ken Denos and his partner. Nothing more.
I totally agree! The same for his partner John D. Thomas and his company, The Acadia Group.
Yes, but Lucas defaulted on the agreement with WCRALLC, lost the mining properties, and resigned from Helmer! Call John Thomas (801) 816-2536 or Kenneth Denos (801) 816-2511 for the details, or call Alex Lucas (347) 497-9810. They know what is going on with the company and have all the documents. Kenneth Denos is corporate counsel, and Thomas works for him.
The Liver Peak and Excelsior mining claims were owned by WCRA LLC and sold to Excelsior Gold Corp for stock. Helmer purchased Excelsior Gold Corp giving WCRA LLC stock in Helmer. WCRA LLC asked the Helmer BOD trade Excelsior Gold Corp for the series M Preferrred stock they were holding (equivalent to around 100 million shares of Helmer common stock). The Helmer BOD approved and WCRA now owns Excelsior Gold Corp and the mining properties. Alex Lucas signed a deal with WCRALLC (Excelsior Gold Corp) to lease back the Excelsior Mine, but then didn't follow through with Helmer's part of the contract. SO, HELMER NO LONGER OWNS ANY MINING PROPERTIES!
Both Doug McFarland and Juan Gutierrez resigned! Alex Lucas says that he also resigned! The corporate counsel is Ken Denos (801) 971-6787) and John Thomas(801-816-2536). Maybe they know who is running the company?
1manband is right! Rumor has it that McFarland turned in his stock, fired their attorneys (John Thomas and Kenneth Denos) because hadn't completed the FINRA process, and turned everything over to Alex Lucas. Lucas is said to know people with money.
You're right, but he resigned last month when McFarland and Donaldson retired their stock in exchange for the Liver Peak claim group. That reduced the overall stock (common stock and Series M Preferred) by the equivalent of 100M shares of common stock, when the conversion factor is applied. One would think that the price would have increased?
Rumor is the insider was CA attorney Roland Day.
There is no stock for sale (see SEC Rule 144)! The company is attempting to JV the Excelsior
Why don't you call the company and find out what is going on with the EA before you spread more of what you are referring to? Or, call the USFS and talk to the Erin Uloth (District Ranger), Eric Ozog (Environmental Coordinator),or Keith Kelly (FS Mining Engineer). Their contact information is on-line.
C.E. is a friend of mine that knows Donaldson, and others in the company.
C.E in Wickenburg, AZ wants to buy a controlling interest in EXLA. He's the one who knows one or more insiders. You know anyone that has 60M shares they want to get rid of?
Do you know of any company that can control it's investors. There , apparently wasn't any signed agreement in place which prevented this unscrupulous California attorney from dumping his stock. Believe me I asked? The response from John Thomas, the former attorney for EXLA and individual who put the merger together was "well he waited a long time to sell". I was pissed. Not that it helped.
The USFS District Office for this area has said that the permits will be issued in May of 2014, for the Excelsior road and underground work in May of 2014, if things go as planned.
I suggest that you read the mining law: To get a Mineral Patent the applicant must satisfy three (3) conditions on marketability.
1. The miner must be able to prove that the mined can be mined at a profit when the application for patent was filed (1991), 2. The mine must be able to maintain marketability until the patent hearing (2004). 3. The miner must be able to show the mine can be mined at a profit at the time of the hearing.
The miner (McFarland and his company)could not prove that the mine could be mined at a profit when the patent application was filed, but succeed in proving that it could be profitably mined at the time of the hearing in 2004, so they lost. It's all there in the BLM file, for those who want to read it.
The short answer is the permits for the work on road and underground on the Excelsior, were expected "at any time". This didn't happen, so the company had no news to release, a major stock holder(insider) dumped 20M shares and the rest is history.
The new CEO, Alex Lucas told me that the R?S is off the table. I was also told that the permit to fix the road, open the portal, drill, stock pile ore for shipment out of state will be completed in May. Call him to confirm.
They are beginning to retire the Series M Preferred stock which was issued to Alto investors who came on board with the merger. This will greatly reduce the dilution and add value to the the common stock. It will also make it easier for Helmer to raise capital for their mining projects.
The new CEO's phone number is (646)861-0527. Give him a call. I'm sure he can answer your questions.
What's going on? They have a new CEO, have bought out West Coast Resource Associates (Donaldson and McFarland)interest and retired 505 shares of Series M Preferred stock which is the equivalent of 100M shares of of common stock. All the Directors are different except Zinn. Check their website. Looks like a change in direction.
Anyone seen the latest SEC filing?
I thought you and I did the math on this? The market cap is $74,900! How is anyone going to get rich on this. It looks to me like the insiders lost their money with little or no hope of recovering it. Logically, if the insiders are able to pump the stock, then all the stockholders make out OK; however, that looks unlikely.
The topic was EXLA going to pink sheets. My point is that not all pink sheet companies are losers; therefore, EXLA going pink doesn't change anything. Do you agree?
Not necessarily. Some pink sheet companies do well. Several years ago I worked for a pink sheet company that was trading at $5. It was Atlas Mining Company, in Osburn, ID. I can't remember the symbol. About a year after after I left the CEO got in trouble for insider trading, they did a name change and the stock fell back to the penny range.
Please be reasonable. If they haven't made any money, then they haven't successfully scammed anyone; therefore, they are not scam artist. This is simple logic.
Regarding your post on the mine in the Philippines: Look at the assays posted on their web page. If there is even 1/10 the gold shown by the in the assay, the mine will be a success. Labor rates are $10/day there. Do the math and you will see that I am right.
I'm glad we can finally agree on something. One way of evaluating a company is by it's market capitalization. This method completely ignores any assets in the company. In this case, the present market cap is based on 108K shares @ $0.0006. That comes out to around $65K. (Where I come from that isn't considered big money.) No loan shark is going to loan this company more than 10% of that. Himitwatch, please tell me how they can do any work if they have no money?
Your accusation that Donaldson, Zinn, Gardner, Thomas, Gill, and of course McFarland, are all scam artist who are going to get rich by selling their stock to unwitting stock holders at $0.0006/share makes no sense. Some how I'm unable to get the math to work out. The 10Q states they are broke, right? That must mean there is no money to pay their salaries. So, if they are working for free and the stock worth $0.0006/share where is all the money they are suppose to be getting from their unwitting stock holder.
Additional Due Diligence shows that there is exactly the same number of shares out now as when they took over Helmer. Where is the record of their stock sales that for the period when you say they scammed the public? I was told that the merger documents submitted to FINRA show that they will get stock when the Form 14C is approved, along with the Alto share holders. Please forgive me if I sound like an attorney, but these are the facts.
That's right. People talk. Correct me if I'm wrong: Isn't this Board suppose to be about what the company is doing, not doing, or should be doing? If I had overheard what Donaldson was telling some one on the ski slope at Vail,or presenting at a mining convention, is there some reason I shouldn't tell you and the Board what I heard?
By-the-way, I like good news and I'd like to see my stock go back up to what I paid for it. Anyone else feel that way?
NOT A RUMOR? Sorry to keep correcting you, but last news release on their web page talks about a gold property in the Philippines (which is part of Indonesia). Any comment on the assays they posted?
There's a problem with what you are saying. If you read the entire mineral patent decision, you will find that the judge, who is an administrative law judge and not a federal court judge, concluded that the claims didn't meet marketability when the patent application was submitted in the early 1990's, but did meet the requirements on the date of the patent hearing. Why is this important? The mining law requires that a "valid discovery" be made prior to the patent application and maintained through the hearing date; i.e., that the mine must be capable of making a profit throughout this period. You can verify this by reading Mining Law by Terry S. Maley, or by calling any BLM State Office and speaking to a Mining engineer who is also a BLM Mineral Examiner. I believe that himitwatchgave the file reference to the case in one of her posts. If I had read the part on environmental permitting more closely and I wouldn't have lost money on this stock, because I wouldn't have bought it. That's where I screwed up.
I see your point, but the problem I have is that I don't believe that you have actually read the reports that are on line, seen the mine, hired anyone to look at it for you, or know anyone who has been there.
I've said that mining in the US is a "fools errand". A company is better off paying the Cartel to mine in Mexico, than attempting to deal with the FS and environmentalist in the US, like Helmer is doing.
I'm not sure that we agree on this. Take Barrick Gold, as an example: The founder isn't a "mining person". He purchased a company with good management and bad properties and another with bad management and good properties and put the two together, to make the world's largest and most successful gold mining company.
You and others on the board disagree on the Helmer management team. I see nothing wrong with their credentials: however, I believe that attempting to mine on USFS land is "Mission Impossible". Donaldson is an excellent Geophysicist and Geologist, Juan Gutierrez is a retired USFS Mining Engineer and Geologist, with years of small mine experience, Roger Gill is an excellent Geologist who worked for Asamera and was involved in the discovery of the Canon Mine, Glen Zinn has been CEO of Bell Copper Corporation, VP of Hecla Mining, and held numerous other management jobs with large and small mining companies and according to your research McFarland also has years of experience in the mining business. Again, insert-text-here.
I see no reason they can't be successful in Mexico, Chile, Peru, the Philippines, etc. if they can raise the money
I like your sense of humor. Right now they are a ship w/o a captain. Donaldson resigned as CEO and also resigned from the BOD. If their business address is in Wenatchee, WA, then McFarland must be the Acting CEO, until the position can be filled. Between you and me, who would want the job? It's probably a lot of work, the past 2 CEOs have been unpopular and according to their last 10Q the company is broke. I wouldn't want the job, would you?
A friend in Wickenberg, AZ who knows one of the people involved. Helmer tried to buy a gold placer he has on the Hassayampa River.
Has anyone heard about a gold mine they are trying to pick up in Indonesia? Whatever one thinks of Donaldson as a CEO, he is a good geologist.
Scam artist make money running scams. There is no evidence that these guys made a dime! Prove me wrong.
It's just plain dumb to try to get a mine started on USFS land. It's not going to happen. Trying is stupid, but it doesn't make you a crook.
If you check the mining cost for Revett Minerals you would see that you are wrong. The Excelsior can be mined using the same methods. Get real!