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When Krong was purchased in 2006 they referred to the tailings as 80 million tons. Now, we think they have 40 million tons. They have misled investors all along. They purchased Kylon, and have not mentioned it since. They pumped this stock talking about a dividend that ended up being a stock dividend. They talk about production with no 2007 financial statements. They have forged the 43-101 document. You can only give them so many chances to be forthright. They have a gagged TA. All of this makes me believe that even if they do have assets, licenses, production and revenue, non-managerial shareholders will never see any of it, and that is the upside. Whatever is in Russia will stay in Russia.
So Aurc sold half of Krong and the aurc shareholders (non-russian ) got nothing for it? Guess the same will be said for all that gold production as well.
Non-management shareholders will see nothing from this company.
This is from their pr on sept /06 announcing the acquisition of Krong....they say they purchased all the outstanding shares of Krong which means a wholly-owned subisidiary...now they are calling Krong an "affiliate"...does anyone know when they sold the majority of Krong?
September 21, 2006 - 9:00 AM EDT
Aurus Increases Production and Acquires Krong Ltd. With Its 2.8 Million Ounces of Gold Reserves
Aurus Corporation (PINKSHEETS: AURC) announced today that it has acquired all the outstanding shares of Krong Ltd. which assets include a production plant with 2,800,000 ounces of gold reserves.
Affiliate
A type of inter-company relationship in which one of the companies owns less than a majority of the other company's stock, or a type of inter-company relationship in which at least two different companies are subsidiaries of a larger company.
agreed with the term "affiliate"....thought Krong was a wholly-owned subsidiary.
Funny, I don't feel rich.....that ballpark must be huge
Trip down memory lane....
PR on Dec15/05 - purchase of "Z" and its 5.2 million ounces of gold
PR on March 14/06 - purchase of Kylon and its 1.9 million ounces of gold
PR On Sept 21/06 - purcahse of Krong and its 2.8 million ounces of gold
Okay, how many believe their pr's now!
This pr talks about 80 million of tons of tailings which I guess they now don't own.....
November 29, 2006 - 10:25 AM EST
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AURC 0.0173 0.0033
Today 5d 1m 3m 1y 5y 10y
Aurus Commences Procedures to Mine Tailings
Aurus Corp. (PINKSHEETS: AURC), following the acquisition of Krong, has commenced the project of processing technogenic tailings and extracting rare earth and precious metals.
These tailings total 80 million tons and are situated only 95 miles from Moscow.
Gerald Parkin, president, is most pleased to announce that the new technology cuts production costs by over 30%. He adds, "New equipment shall be used in processing the tailings and the advanced technology results in a an average production cost of $217 per ounce. This translates into healthy profits from the first months of operations. There are no galleries or tunnels in processing the tailings and all the minerals are accessible above ground."
The available minerals are:
Gold 80,000 kilograms
Platinum 40,000 kilograms
Silver 1,000,000 kilograms
Cobalt 10,400 tonnes
Molibdenum 3,000 tonnes
Tellur 12,000 tonnes
In addition, there are large quantities of iron, scandium, zinc and tin.
Furthermore, Aurus Corp. has acquired unique technologies which allow it to remove from the tailings neutral waste which remains after processing and this is used to make building materials. This practice is unique in the world rendering even discarded material into revenue producing matter.
About Aurus Corporation
Aurus Corporation is a publicly traded mining holding company with several precious metal properties with over 5 million ounces in gold reserves, trading under the ticker symbol AURC on the US Pinksheets market. Aurus seeks to continue acquire proven gold and other precious metal reserves in Russia and other emerging counties and operate its mines through joint ventures and/or partnerships.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Source: Marketwire (November 29, 2006 - 10:25 AM EST)
I am sure the attorneys are involved, and at this point they should be...lol
Why don't you send these allegations to the SEC and have all trading stopped and put an end to this sham.
ah yes the red sea group, which there was, but it was an israeli company I think which was quite funny considering it was suppose to be in Dubai.....
Its RED tarmac...not tarmac....perhaps someone should email tarmac and see if they have a sub in russia called red.
are you telling me the o/s grew from 11 million to 23 million during the last couple of weeks...this large investor of 10 million now has 45% of the company.....and a few seats on the board.
There is no question that someone bought gbdx as the management team changed...the question is was it a new pump and dump mgt team, or something very tangible...for me, increasing the a/s, not closing this situation when the market cap is less than 2 million and taking a year while forgoing millions of sales in the USA speaks that the new mgt team took over a shell with another shell and is only interested in selling shares.
ABVG said in the cc that they will announce something next week of a gold acquisition...imo, this sounds like aurc with abvg releasing krong's reserves accurately prior to aurc announcing them...if aurc thinks abvg is a credible partner,then I think this is a sham...all these reserves and abvg is the only player to be attracted to their Krong asset ...that is a major blow to aurc's credibility and value....
they would need financing to buy
seems like all these licenses and assets in Russia can be shifted around very quickly from one company to another....unsettling as to who owns the Krong assets/licenses.
Your Chobanyan Samvel is Samuel C in the ibox who is the CFO of Aurc and general director of Krong
-- Mr. Samuel Vladimirovich Chobonian
Chief Financial Officer
-and-
KRONG [JSC]
General Director
is the same as the name on the 43-101, as I was told
check the abvg board as there was a cc with them and ppl attempted to ask about krong's reserves being posted first by them...they said they will have a pr next few days to talk about their gold acquisition...they have no money and any attempt by them to buy aurc will plummet aurc's share price (even more)
look in ibox...i asked the same question and there is a samuel c. who is krong exec and aurus' cfo named above in ibox..
Fedor Fedorovich Dovgan
President
-- Mr. Samuel Vladimirovich Chobonian
Chief Financial Officer
-and-
KRONG [JSC]
General Director
Contact Information
Aurus Corporation
Admin BOD Office:
3773 Boulevard Cote-Vertu West
Suite 300
Ville Saint-Laurent, QC
Montreal West Island, H4R 2M3
514-702-8921
Email Info: TBD
well its been about 14 months since i have been following this and the average price during this time is about 6.7 cents....all the good news during the past year has done nothing for this stock (now 2 cents):
cash divy > stock divy
buyout of 55 cents > still waiting
production of 2300 kgs in 2007 > still borrowing a million or two to increase procduction 4 fold
report of 43-101> summary report numbers do not agree with main report and numbers quoted a week before by another pink company for a buy out, and company'scredibility questioned by journalist in Russia
the story does not become clearer over 14 months.
not a bad day if you bought at .014 and sold at .018....always depends on what price you buy and sell.....lol.
If it didn't go up on the volume yesterday it won't go up on the volume today....think of talking to TCHH may be the best approach...ttch can't buy due to insider info as they have looked at the books of pavce...as well, disclosure of ownership greater than 5% is required....price downward is caused by non-belief of deal as other "deals" have changed.
TRUSTCASH HOLDINGS, INC. and PAIVIS, CORP. Announce Signing of Amended and Restated Definitive Agreement and Plan of Merger; Paivis Shareholders to Receive $0.10/Share in Cash Plus One Share of TRUSTCASH Common Stock
from the pr header
Hlaf of the float is trading today and 45% down from yesterday's close.....they really can't hype this stock for more than half an hour....
looks like everyone is taking the opportunity to bail.....no one believes this story.
all this amazing news during the year.....production, buyout and now the 43-101....and the stock sinks from the fever buyout pitch of 19 cents to 2.5 cents....yeah this company is doing all the right things.....
Dovy boy, get an audit fo 2007 of aurc (consolidated) and maybe people will believe your story...
ps...mineweb preempted the ABVG pump (remember they had all the correct mineral volumes before aurc did), now they are at a loss what to do next.
thanks, spelling is close enough I guess...he is the director general of krong and cfo of aurus....as far as ownership, would rather the 43-101 mention the relationship of krong and aurc.
The person in the report who made the request is the Director general of Krong Ltd.,Chobanyan Samvel.....does anyone know if he is part of Aurc's Board of Directors?
perhaps krong....but what about aurc?
Sorry your speculation is not concrete proof...the problem with Dovgan is that he has too many hands in other ventures and he can move assets around as he sees fit....that is the lack of transparency of assets, legal title of licenses....there is no trail....why didn't the 43-101 report talk about ownership of Krong?
Do we have concrete proof that Krong is owned by Aurc?
Why did ABV seem to know the correct numbers and Aurc's summary did not? ABV has no money to buy 10% or even .0001% of Krong.
Why does ABV not know AURC?
Where is the economic feasiblity to prove economic value of Krong?
They pr's a year ago that the cost of extraction was $217; now, the T report uses the word cost at about $800; and everyone says they did not mean to use the word cost, but that confirms the webmine article about the high cost of extraction making it uneconomical,until gold hits $1000....then we speculate about all the gold they produced in 2007, and that was uneconomical and that is why they must borrow money......why can't they come clean and tell the truth.
There are too many ifs in this story....
if the 43-101 is real
if the 43-101 is for Krong
if Krong is owned by Aurc
if production is profitable
if management does not steal the profits
then maybe the shareholders are not left holding the bag.
What did you expect aurc to say..."you caught me? I am sorry".....same thing happened to sljb who denied all the allegations by the local cub reporter, until the OSC stepped in....the stock went from 10 cents to .2 cents...at this point my bet is on the reporter...I did really want to believe this story but Russian gold is becoming an old story now.
perhaps Aurc is silent due to SEC questions, and they have to be careful what they pr....maybe they are changing their website to reflect reality of what they hold and no more misrepresentations.
they should give us an accounting of the $66 million in revenue for 2007 based on their pr on production...and they haven't.
this company doen't maintain its offices even during the buy fall slling season......this company's business is selling shares and not diamonds.
there won't be any f/s soon......for a company thinking they are a high quality gold producer they have been tardy during the month of January giving info