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Markray’s gray cardinal…
So, reportedly they got rid of Canadian part of equation (Parkin, Makarov, and Co). What is left is Russian team sitting on Roshal Chemical dump (leased for free by Puma-Krong of Aurus). And the invisible gray cardinal behind this asset is Valentin Chegenev. From Aurus history you probably remember his role in pulling Krong out of bankruptcy in Magadan; signing agreement with Roshal administration, getting fake estimates from TsNIGRI, etc. He used his Magadan friends and close partners to fill in positions in those companies. Remember “General Director” of Krong Samvel Chobanyan, who was actually a full time student in Moscow and shared home address with Chegenev?
Looking at this quarterly report:
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=115777
I finally realized how unknown before Olga Smolnikova managed to become a major beneficial owner of Markray with 264+ mln shares. She was also mentioned as Markray’s President before. Guess what? Her address in the report: 45-1 Birulevskaya St., 29 is exactly the same address where Chegenev and Chobanyan share their home:
http://infobaza.org/people/fRzyf-chegenev-valentin-anatolevich
So, Valentin Chegenev basically indirectly owns Markray by just transferring Roshal “assets” from failed Krong-Aurus. And, to remind you, he also owns another “gold producing” company Mayskaya, registered in Roshal and probably ready to go public in US with the same “assets”:
http://www.ogrn.ru/info_egrul/company/33c588c52a9
Mr. Chegenev created two gold giants Markray and Mayskaya in small town near Moscow… Unfortunately, nobody in Russia never heard about them except, of course, Mrs. Korogod who has been working for Aurus-Markray for many years. :)
FYI.
One thing everybody should consider when buying slabbed coins: confirm PCGS certification before buying. There are many fake or uncertified Morgans placed into slabs with numbers issued for other coins. Just today I checked 1881-O MS64 Silver Morgan listed on eBay, and PCGS certification database says that this number belongs to 1924 $20 coin. FYI.
I actually like the stock long term and used to own it several years ago. Another point where we probably agree is: when PMs start moving up solid penny stocks (like PAL) will likely to be top percent gainers in the sector. They just need to stay alive until this happens (with proper financing, cost cutting, etc.), which could be not easy for some.
"Actually we got in at under .40"
"PAL added 17,000 to AVG down - new AVG .67"
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=95775956
One thing that articles like this never mention is the fact that China could be an active player in this gold leasing/manipulation game. Although their Mainland's physical gold reserves are growing fast, the fact is that China stores about 600 ton of gold in New York. Some observers suspect that China leases/sells this gold (HSBC is mentioned as their agent sometimes) to keep gold price low. That's actually a smart way to repatriate gold - sell/lease it in NY and buy cheaper for local storage.
http://english.sina.com/business/2012/1204/534146.html
This was really interesting and informative post, maverick.
"Pumping is not a violation of TOS."
But spam is (check iHub TOS rules).
"Electronic spamming is the use of electronic messaging systems to send unsolicited bulk messages (spam)"
http://en.wikipedia.org/wiki/Spam_(electronic)
http://investorshub.advfn.com/boards/profile.aspx?user=116525
I would disagree... I think we will see $1,417.31 first, then go to $1,678.29, then back to $547.08, and finally to $3,556.99 (before we fall to $215.61).
You will be surprised, but there is a difference between discussing and shameless pumping.
TOS violation reported. Please leave this board alone.
"I'm short on Silver since Jan 3rd...
If you think it's such a great value tell that to the idiots and chumps that told them to buy in Jan 2013...
What makes anyone think I'm wrong now when I kicked crap out of it just since Jan 3rd shorting?"
Well, what makes anyone think that you are wrong?
01/31/11: "Whats better buying silver ingots or buying stock in a silver producing company? I have both."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=59344183
01/31/11: " I didn't sell in the recent runup still holding along with all of my silver bullion bars... In my opinion, the carpet will be pulled out from underneath and the price of silver has to increase it's so vastly undervalued it's not even funny."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=59372456
02/18/11: "Nice little pop up last couple of days don't ya say guys...still locked and holding no intentions of selling."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=60121296
04/07/11: "My target estimation $1.25-$1.50...what MM's are doing here with US Silver is that they are rolling this over and over since it basically started it's bull trend months ago. We'll be at over a dollar eventually."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=61845579
04/17/11: "This is so still undervalued, the sheer size of everything they own is massive."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=62168507
Phil Baker Interview
http://news.goldseek.com/GoldSeek/1384282822.php
This is actually a very good sign. We have never heard any positive comments from Sprott team. I even remember how one of Sprott associates criticized USGIF as "bad investment" while Sprott was increasing his position. Maybe they are finally switching from accumulating to pumping? If interviews like this continue to pop up this could affect the stock price significantly, at least that's what happened to other PM stocks when he mentioned them publicly.
Meanwhile USGIF keeps falling to the new lows.
There is nothing special there, Navy. Moreover, there are some positive answers / explanations (FWIW):
1. The company is doing better than it ever has done and all is fine.
2. Dave Jones sold all his shares into the market and it tumbled and it stinks for all of us but we are working to change the marketing approach.
3. The demand is more than I ever anticipated ... Florida is a testing ground and when and if I test more is a company decision. This is a good sign because we need machines heading to clients for tests and abroad.
4. Dickinson Capital holds the same position as filed in the 2012 10K of 33,000,000 shares.
5. Mark Goldstein is the largest debt holder and his pockets and his associates have funded this venture from the beginning. He is never a seller and has to report all his trades.
I dropped the phrases like: “you are blithering”, “what is your issue?”, “you look silly on any investment board”, etc. It’s always a bad sign when company’s executives make such a big deal of blathering on message boards, even anonymously post there to influence private investors decisions. What really looks silly is when instead of official updates, SEC filings the management thinks it can communicate with shareholders by chatting on twitter or facebook. It’s not the first time I see this and it always ends bad. At least it was my experience before.
To summarize: everything is fine.
This is my last post on this board. Meris can sleep well now.
I used to call different managements many times. Even outside US (Canada, Russia, etc.) Unfortunately, usually it's just a waste of time. First, it's easier for them to mislead your over the phone because the conversation is not documented. Second, as an intelligent and polite person you often fail to ask hard questions which you actually want to ask. Especially when you talk not with obvious scams but with nice people from real companies who try to do their best... Their responses are predictable. Have anybody ever told you: "Sorry, we failed."?
I don't want to turn into board basher (which I am close to based on Meris response). But there are many indirect signs that I don't like here. I may post one more time about the email I received today... and that's it.
Hi Meris. I did send the corresponding request to the company. Now trying to filter accusations and insults, and digest the other information you provided. Will inform the board later. Thanks.
There is one entity that would still have almost 400% profit selling at 0.008. It's Dickinson Capital with its initial purchase of 33 mil shares at 0.00176. Can anybody explain why Mark Goldstein bought those shares not directly on his name but through private company that seems to be specifically created for this purpose? Maybe because being individual shareholder he would have to report his insider trades often, almost in real time, but institutional investors (especially private companies) can't be tracked that closely? I know that was/is the case with my another stock where we can discover Sprott Securities insider moves well after they happen - from company quarterly reports, etc. And Dickinson Capital is not even public and you can't track its holdings online. It would be interesting to look into PMXO next quarter report. Although, I believe they are not required to mention changes in institution positions. They can always claim that they know nothing about this.
Just speculating. Correct me if I am wrong.
Talking about patents... Here is the Chinese version:
Automatic gold bar vending machine http://www.google.com/patents/WO2011013942A3
Edit: Second look... it seems to be Korean invention.
Actually, it was 1982 a billion seconds ago, and Jesus was crucified well before billion minutes ago (year 112). But I get your point. :)
TSX is probably a good place for stock like PMXO, although it wouldn’t be easy for them to meet listing requirements and afford associated fees:
http://www.tmx.com/en/pdf/TSXandTSXVenture_IndustrialRequirements.pdf
As to the listing in Germany… Well, it’s usually a big red flag when penny stock starts trading in Germany (particularly in Frankfurt). They have pretty loose regulations over there, and Frankfurt used to be a playground for pinky managements and related parties to sell millions of unregistered or restricted shares of their companies or go short against their loyal shareholders… I don’t think PMXO is going to do this. Mark Goldstein is not going to risk his reputation and lawyer carrier. BTW, that's probably one of the main reasons why we don't see "normal" shameless pinky pump with this stock. IMO.
BTW, according to the latest SEDAR filing Sprott also owns almost 3 mln warrants. So, his company "exercises control of direction" over 19.9% of USGIF shares. Last private placement was at 0.6 CAD and warrants exercised at 0.75 CAD. So, we are on uncharted territory again...
There is a simple solution for this "problem" - to increase face value of bullion coins, like $20 for silver eagle and $1000 for gold eagle. There is no risk for the Government anyway, even if the price of precious metals falls below those marks. For example, Canadian mint prints $20 and $100 silver coins with silver content well below the face price. When some investors tried to cash those coins (in banks or retailers) they discovered that they own "non-circulated legal tender" coins issued for collectors only. Such a Government approved scam. Now you can buy them below face value sometimes...
Barron's: SATURDAY, SEPTEMBER 28, 2013
The High Price of Digging Up Dirt in China
Two analysts for a hedge fund were arrested in China for their research into a mining outfit with a powerful local presence. Their scary tale casts doubt on just who's guilty.
Canadian stock analyst Kun Huang has been locked in a Luoyang, China, jail for more than a year, charged with defaming a Canadian company whose shares trade on the New York and Toronto exchanges. In 2011, a report circulated by Huang's hedge-fund employer alleged that ore samples from a mine run by Silvercorp Metals tested low for silver content. Unluckily for Huang, Silvercorp's mine is a prominent enterprise in Luoyang, the city in the central province of Henan where prosecutors have charged that he not only defamed the company but used an illegal camera to shoot video of its operations. After a one-day trial on Sept. 10, the analyst, 36, now waits to hear whether a judge will find him guilty and sentence him to three more years in prison. A Canadian consul described the Luoyang jail as "atrocious." Few trials in China end in acquittal.
[image] Courtesy of Jon Carnes
Researcher Kun Huang is in a Chinese jail awaiting a trial verdict.
The researcher is one of hundreds that Chinese media say have been rounded up since May 2012 for helping foreign investors check out U.S.-listed Chinese companies, or for conducting the due diligence required of multinational corporations by their home countries' antibribery laws. Most of those arrested are Chinese nationals, but public attention tends to focus on the foreigners. Chinese television recently broadcast the handcuffed image of well-known fraud investigator Peter Humphrey, a Brit accused with his American wife of accessing state records in the course of background checks performed by their Shanghai-based firm, ChinaWhys, on dozens of Chinese businesses -- including Silvercorp (ticker: SVM).
The researchers' arrests may be a response to the plunging popularity of Chinese shares that trade on U.S. exchanges. Investigators like Huang and Humphrey helped expose unflattering evidence on companies listed here via the back-door maneuver known as a "reverse takeover" -- inspiring a wave of short-selling, delistings, and fraud charges by U.S. regulators (see "Beware This Chinese Export," Aug. 28, 2010).
...
With the imminent verdict on Huang, the Silvercorp saga has gone the furthest of China's research crackdowns. It is also the best documented, due to a small mountain of written and audio-visual records surreptitiously collected by Huang and his colleagues over the course of their pursuit by Luoyang cops. Huang's hedge-fund boss Jon Carnes shared these recordings with Barron's, as well as with regulators and law-enforcement officials in Vancouver, where Carnes' investment firm and Silvercorp are based. Carnes says Canadian authorities have opened a bribery probe based on his allegations that Silvercorp directed and paid for Luoyang's prosecution of Silvercorp's critics. Among the documents Carnes shared are some that he says show police expenses paid by the Silvercorp mine, one of the biggest employers and taxpayers in the city. The company and the local police have denied any corrupt relationship.
...
http://online.barrons.com/article/SB50001424053111903533504579095270615168980.html?mod=rss_barrons_most_viewed_day#articleTabs_article%3D1
If you own SVM or any other China stock...
The High Price of Digging Up Dirt in China
Two analysts for a hedge fund were arrested in China for their research into a mining outfit with a powerful local presence. Their scary tale casts doubt on just who's guilty.
Canadian stock analyst Kun Huang has been locked in a Luoyang, China, jail for more than a year, charged with defaming a Canadian company whose shares trade on the New York and Toronto exchanges. In 2011, a report circulated by Huang's hedge-fund employer alleged that ore samples from a mine run by Silvercorp Metals tested low for silver content. Unluckily for Huang, Silvercorp's mine is a prominent enterprise in Luoyang, the city in the central province of Henan where prosecutors have charged that he not only defamed the company but used an illegal camera to shoot video of its operations. After a one-day trial on Sept. 10, the analyst, 36, now waits to hear whether a judge will find him guilty and sentence him to three more years in prison. A Canadian consul described the Luoyang jail as "atrocious." Few trials in China end in acquittal.
[image] Courtesy of Jon Carnes
Researcher Kun Huang is in a Chinese jail awaiting a trial verdict.
The researcher is one of hundreds that Chinese media say have been rounded up since May 2012 for helping foreign investors check out U.S.-listed Chinese companies, or for conducting the due diligence required of multinational corporations by their home countries' antibribery laws. Most of those arrested are Chinese nationals, but public attention tends to focus on the foreigners. Chinese television recently broadcast the handcuffed image of well-known fraud investigator Peter Humphrey, a Brit accused with his American wife of accessing state records in the course of background checks performed by their Shanghai-based firm, ChinaWhys, on dozens of Chinese businesses -- including Silvercorp (ticker: SVM).
The researchers' arrests may be a response to the plunging popularity of Chinese shares that trade on U.S. exchanges. Investigators like Huang and Humphrey helped expose unflattering evidence on companies listed here via the back-door maneuver known as a "reverse takeover" -- inspiring a wave of short-selling, delistings, and fraud charges by U.S. regulators (see "Beware This Chinese Export," Aug. 28, 2010).
...
http://online.barrons.com/article/SB50001424053111903533504579095270615168980.html?mod=rss_barrons_most_viewed_day#articleTabs_article%3D1
Actually, the share price is 54 INR (Indian Rupees) which is about $0.86. Other than that I agree.
Gitanjali Group is the world’s largest integrated branded jewellery manufacturer-retailer with an annual turnover of over $3billion... Over the last two decades, the Group has expanded operations in USA, UK, Belgium, Italy and the Middle East to China, Singapore and Japan.
http://www.gitanjaligroup.com/about_us/about_presence.html
Doesn't look like India is ready for PMXO presence:
"Says Sanjeev Agarwal, CEO, Gitanjali Export Corporation Ltd., “The machine is a first of its kind anywhere in the world and will further revolutionise the processes by which precious metals and jewellery is bought. It has a particular significance in India, where usually such items are purchased as tokens to observe traditions on auspicious days. But it also offers choices for occasions like Valentine’s Day, or to a husband who forgot an anniversary or his wife’s birthday!”
In the coming months, Gitanjali plans to expand the network of these ATMs in places with high consumer footfalls such as premium malls, airports, temples etc., to provide visitors with a range of last minute purchase choices for gifting and other needs.
The ATM is a part of the larger ‘Go for Gold’ umbrella branding created by Gitanjali to promote the purchase of gold – whether in the form of jewellery or coins/bars – and focus attention on the company’s initiatives in the gold segment."
http://www.gitanjaligroup.com/media/press_releases_october_22_2011.html
The last one for today:
Friday, September 20, 2013
Hua Xia Bank introduces five gold and silver coin ATMs in Beijing
It would seem ATMs would be just the thing for American convenience. We say this as with lawlessness with theft, security, insurance and liability costs for coin dealers must be considered. Additionally, with ATMs being located in high traffic areas they would also be available to complement online purchases should that convenience not be available or curtailed. Extended hours could also be considered, including weekends. Unfortunately, we see three shortcomings - 1) non-certified numismatic coins would not fare well 2) Government reporting & tax collection you just know would be tracked. 3) there is no provision for exchanging or selling back to the vendors. Like any other consumer item, however, the "market" would quickly develop 'workarounds'.
People in Beijing can now buy gold or silver coins at ATMs after the Beijing-based Hua Xia Bank introduced five of the machines earlier this month, according to Hong Kong's We Wei Po.
The bank installed the five machines at its branches across the city in Xidan, Fangzhuang, Zhongguancun, Dongdan and on Qingnian Road.
The ATMs look like ordinary teller machines but have an additional compartment to dispense the gold and silver coins. The machines currently offer panda souvenir gold or silver coins and Year of the Snake silver coin and plate sets.
A single 1-oz panda silver coin priced at 268 yuan (US$40) is the cheapest item available, while the panda gold coin set is the most expensive at 23,800 yuan (US$3,800).
Buyers can purchase the coins using their bank cards. After they place their orders using the machine's touchscreen, their payments are verified through bank card organization China UnionPay and they can pick up their purchased items through the opening on the lower part of the machine.
If they want to purchase more than 20,000 yuan (US$3,200) worth of items, they will first need to place their ID cards on the machine's sensor to verify their identity before the order can be placed, Wen Wei Po said.
http://chasvoice.blogspot.com/2013/09/hua-xia-bank-introduces-five-gold-and.html
And this is comparatively fresh news form Gold To Go (5/7/2013):
Daily What?!: The Gold ATM on 57th Street
On 57th Street, between 6th and 7th Avenue, across from the Parker Meridien Hotel, is this Gold ATM. That’s right, a machine that dispenses gold. There are currently only 20 such Gold ATMs in the world, all made by TG Gold-Super-Markt corporation, an online trading platform for precious metals. The machines are the brainchild of TG Gold-Super Markt’s founder Thomas Geissler, who was inspired to repurpose the ubiquitous vending machines for a high-end purpose. The New York City Gold ATM is at Stack’s Bowers Galleries, a retailer and auctioneer of premium collectible coins, currency and precious metals.
The ATMs are covered in 24 karat gold leaf, feature a touch screen, and accept cash and credit card. The machines are “built like an armored vehicle,” says Geissler, and are theft-proof (the company tested the ATMs with explosives). Geissler wants to get 500 of the ATMs out there, not all to be located in ritzy places like Midtown West.
While the ATMs are intended as a marketing arm for TG Gold-Super-Markt, part of Geissler’s motivation is to undermine the big banks a little bit. The prices are updated every few minutes, and the camera ensures purchases are legal. Geissler tells The New York Times, “The banks have an oligopoly,” he said. “Generally, oligopolies wait too long to compete, and by then it is too late.”
When we stopped by, the Gold to Go ATM was offering a 1 oz. gold bar for $1,700, 10 grams for $627 and 5 grams for $327. In addition, there were silver Bronx Zoo coins featuring a bison (1 oz at $88) and a 1 oz silver eagle at $41.00.
http://untappedcities.com/2013/05/07/daily-what-the-gold-atm-on-57th-street/
Now India Has An ATM Machine That Dispenses Diamonds And Gold
The new ATM dispenses everything from gold and silver bars and coins to religious pendants and diamond studded jewelry, according to the Gitanjali Group, the Indian diamond manufacturer that installed the machine (via the Rapaport Report).
According to the company, the machine will be "ideally suited for last minute purchases on auspicious occasions and for gifting, providing instant gratification to the purchaser."
Items dispensed from the machine will cost anywhere from $20 to $650, according to the Rapaport Report.
The company said it hopes to install additional gold-and-diamond ATMs in India's airports, malls and temples.
http://www.businessinsider.com/india-gold-diamond-jewelry-atm-machine-2011-10
And India is in this business too:
Gitanjali inaugurates gold-vending machine
(Reuters) - Gitanjali Export Corp. said it has launched a gold coins and medallions vending machine to cash in on robust investment demand that is rivalling the thirst for jewellery in India, the world's biggest consumer.
"It has a particular significance in India, where usually such items are purchased as tokens to observe traditions on auspicious days," said Sanjeev Agarwal, CEO, Gitanjali Export Corporation.
The machine will give stock upto 36 different sizes, price points and designs ranging from 1,000 rupees to 30,000 rupees.
India is in a high demand festival and weddings quarter, including Diwali.
Gitanjali said it plans to expand the network of these machines in places with high consumer footfalls such as malls, airports and temples to provide visitors with a range of last minute purchase choices for gifting and other needs.
(Reporting by Siddesh Mayenkar; Editing by Harish Nambiar)
http://in.reuters.com/article/2011/10/25/idINIndia-60108520111025
That 2011 announcement was followed by less optimistic one in 2012:
Plunging demand shuts down China's Gold ATM
China also stopped plans to install an unspecified number of machines in secure locations such as gold shops and upmarket private clubs.
BEIJING(BullionStreet): Plunging gold demand in China forced country's first gold vending machine to stop working, less than a year after it's grand unveiling.
Beijing Agricultural Commercial Bank,which launched the machine said it wasn't being used for the last few weeks as customers have lost their appetite for gold.
Analysts said the cost of a single withdrawal is the main reason as each withdrawal is capped at 2.5 kilograms or one million yuan (about $160,000) worth of gold.
Shoppers in the popular Wangfujing Street shopping district in Beijing used to insert cash or use a bank card to withdraw gold bars or coins of various weights based on market prices.
China also stopped plans to install an unspecified number of machines in secure locations such as gold shops and upmarket private clubs.
Chinese authorities earlier planned more Gold ATM's across major cities as it prove popular among Chinese consumers looking for a convenient way to safeguard their cash amid rising prices.
Gold vending machines already exist in Britain, the United States, the Middle East and Europe.
The World Gold Council last week said China's demand for gold dipped 7 per cent in the second quarter of 2012.
Top consumer, India's demand for gold jewelry dropped 30 per cent this year,WGC added.
http://www.bullionstreet.com/news/plunging-demand-shuts-down-chinas-gold-atm/2667
$214 for 1/10 oz coin sounds very expensive to me. For example, for this money (about $230) you can buy certified 5 gram gold bar from Perth mint. Or you can pay ~ $150 (including shipping) for 1/10 gold bar from NTR Metals. That's why in PMX PR (or was it Meris' interview?) they said that the company is not going to compete with online PM dealers. Probably they assume that people will pay premium for the brand, rarity, and low mintage. Theoretically it's possible. But you need to establish that brand first. I've seen how unknown PM sellers were rising from nowhere: First Majestic, Monarch Metals, Provident, PG&G, Texas PMs. All of them started with selling gold/silver items at or below the spot price - to get their share of the market. That's when they attracted my attention and I bought first items from them. I doubt you can do this by pricing your item like PMX does. It would be interesting to see the statistics of sales in the next report.
IMO.
Southpen, I actually agree on all counts... Don't want to irritate long term shareholders, but I have already given up and don't expect to break even anytime soon. Last time insiders options were assigned with 0.78 exercise price. It's about 30% upside from current prices. That's my first price target for newly acquired shares. Insiders would sell into the surge? I may join them then... Of course, there is no guarantee that share price won't go even lower and insiders will be awarded new options at 0.5, 0.3, etc. OTOH, penny stocks, regardless of fundamentals (which are not that bad here), usually provide better return when sector turns up. For example, to return the same 30% SLW should go from 24.5 to 31.85; HL (which I also own) from 3.2 to 4.16, etc. In this case chances of USGIF to overperform look pretty good to me.
Such a pragmatic approach... sorry.
I don't follow USGIF events too often now (you know why), so could be out of sync... But looking at institutional ownership I see that Heartland Advisors added 2,000,000 shares this Summer, and increased their holdings to 5 mln shares (8.35% of USGIF). What is more interesting, Sprott Asset Management owns now 11,574,738 shares (16.61%). All of them are shown as newly acquired, but we know that they move their holding around company branches, so I think it's just an accounting trick. Can't imagine they were out of USGIF completely at one point. Anyway, last time I checked their holdings fell bellow 10%, and now they are at record high.
Maybe we are going to move higher now? The price level is very attractive... Of course, every time when I think this is a bottom USGIF manages to surprise me... Added (bought back) a couple of shares below 0.6 So, there are three of us increasing position: Heartland, Sprott, and myself.
http://investing.money.msn.com/investments/institutional-ownership?symbol=USGIF
And guess who is the owner of that Roshal's "Mayskaya"? The same hero we know from Aurus-Krong-Puma history: Valentin Chegenev. Bingo!
http://www.ogrn.ru/info_egrul/company/33c588c52a9
We are familiar with a trick used by some Russian businesses - to register twin companies with identical names in different regions. Like Markray from Roshal is named just like Markray from Magadan - small "artel" (dead now) that really used to produce gold. This gives the "management" of new Markray chance to "switch" Markrays when someone tries to find proof of "processing plant", "gold extraction", etc. We have seen attempts like this on this board too.
One interesting fact was bought to my attention recently... Do you remember the famous gold producer "Mayskaya" in Magadan? According to Aurus PRs they were about to merge... "Mayskaya" is a real deal - one of the leaders of Magadan gold sector. Guess what? There is another Mayskaya in Roshal. It was registered in 2009 just like Markray. Another sleeping "gold producer" in this small city. I think we are going to hear about them in future. It's just another Russian asset waiting for another pinky. Or maybe it's Markray's business partner sitting on the Roshal chemical dump? Of course, they will remind us about Mayskaya's gold production in Magadan to make it look real.
http://www.rusprofile.ru/id/1983724#%D0%9E%D0%B1%D1%89%D0%B0%D1%8F-%D0%B8%D0%BD%D1%84%D0%BE%D1%80%D0%BC%D0%B0%D1%86%D0%B8%D1%8F
Well, I've done some digging, and here is my version of current events:
1. Markray Corp. came to life in January 2011 when shares of it's predecessor R'Vibrant were converted and handled to new team of insiders.
2. The authorized capital for RVBR was increased to 900,000,000 shares on January, 22 2013 (!) So, the most recent structure is: 900,000,000 authorized shares; 483,970,488 outstanding shares (including Westmount Capital's 176,280,000 and Olga Smolnikova's 264,420,000 shares).
3. Initially insiders' shares were restricted and could not be traded. But after 2+ years most, if not all, of them came out of restriction.
That's why we see all this activity. In January 2013 the "management" revived the company: got "good standing" in Delaware, reopened forgotten Russian website, and asked Marina and Alexandra to wake up :) They are ready to dump hundreds of thousands formerly restricted shares plus half of million of new shares that could be issued at any time. Be prepared for tsunami.
BTW, can anyone mention just one PR from RVBR that accidentally happened to be true? Buyout offer? Increased production? Gold coin to shareholders?
IMO.
Thanks. It's really surprising. Last time I checked (in 2011) Markray owed $196,386.25 to the State of Delaware. By January 2013 it was more than $200K I guess. It's equivalent of 10+ mln of RVBR shares at current market price. Hard to imagine that the "management" decided to pay this amount. Probably they negotiated the debt... Anyway, this is a plus for the company to be "fair and balanced".
Yes, that's how I see it too. Interesting that this certificate was issued in January, and the company was quiet since then. Now suddenly this "news" is posted on Markray website, emailed to shareholders, and Marina and Alexandra popped up from nowhere... Looks like new wave of pump is starting for the company that produces tons of gold in Moscow region and "received a buyout offer $0.9 per share" (!) in March, 2012:
http://pennystockhaven.com/markray-corp-rvbr-confirmation-of-an-offer-to-acquire-its-outstanding-shares/
Yes, I was tipped already yesterday:
Not sure whether Markray paid almost $200K amount due to the State of Delaware. Nine months passed since January, but Delaware website still says:
Tax Sign On
The following error was returned from Mainframe:
* W0003CORPORATION NOT FOUND
I am going to check this, but maybe you can answer: Has Markray paid all taxes due?