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WSRA/GDSM not going to be doing any road work soon.
Portion of Senator Highway Closed near Crown King
Release Date: Sep 6, 2012 Prescott, Arizona
Contact: Debbie Maneely, (928) 443-8130
Prescott National Forest officials have closed a portion of Senator Highway effective immediately. Recent monsoons rains has caused extensive damage and washed out portions of the road making it unsafe and impassable at this time. The closure will remain in effect until monsoon activity is over and repairs can be completed.
The following portion of the road is closed to public travel: Senator Highway (County Road 56): Beginning at the junction of Senator Highway and Forest Trail 215 (Township 11 North, Range 1 West, Section 16); heading south along Senator Highway to the intersection of Senator Highway and Forest Road 362 (Hooper Saddle).
Forest Officials urge all visitors to use caution while driving on Forest Roads during the monsoon season. Roads may be impassable due to rocks and trees blocking the roadway or flowing washes and saturated soil.
For more information please contact the Bradshaw Ranger District at (928) 443-8000.
Forest Order
Please provide absolute PROOF that the SIRG Asher notes that can be converted now. Date of note and amount please.
That is NOT what was posted!
Everyone is entitled to their opinion, I just know from my research what is going on and SIRG will not be funding $10M worth of convertible notes. The only bank doing any mine development funding is the Bank of Nova Scotia unless you go to Asian banks!
There are numerous options to securing the funds SIRG needs and a bit of research would show those options. I already suggested the Arizona Pension Funds but you ignored that possibility when in fact they have been providing funds.
Just chill out until SIRG's APP modification and transfer is done. A Reclamation Bond must be posted as part of the permit transfer.
I doubt Rod would have progressed this far without a business plan and that plan includes the availability of funds for the bond, the closure of the LOI, the purchase of the additional 90 acres, retiring the Asher notes, the construction of the new heap leach pad/pond and the repairs/replacements necessary to return the mine to production. We are talking $7 to $10MILLION here and it won't be convertible notes!
Arizona Pension Funds have been investing in state industries and the Chloride Copper mine would be an example of such an investment. After being burned in the stock and bond markets they have begun supporting state industries and receiving higher returns! Maybe they are providing the funds.
Perhaps a bit of research would show that THERE ARE NO NOTES DUE BEFORE 2013 and SIRG is current on all debt obligations! These statistics prove that there has been very little dilution.
Here are the statistics for VERT from the Monthly Volume Report
August = 4,147,931
July = 4,773,680
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=SIRG&SortBy=volume&Month=8-1-2012&IMAGE1.x=12&IMAGE1.y=9
Perhaps a more positive attitude would help put SIRG's share price where it should be.
The fact that Rod hired a mine engineer and a metallurgist shows me that he is lining up the ducks for SIRG to take off.
And what is the basis for that claim? Please provide proof. I was just looking at LKAI and would appreciate more information.
SIRG makes USA TODAY NEWSPAPER! Sadly it does not mention the SIRG symbol nor that it is an OTC public traded company but the name is getting out there! More proof that SIRG is a real company moving forward!
Across the USA
NEWS from every state
Alabama: Fayette — An American Power Source apparel plant that makes U.S. military clothing will close Oct. 31, putting119 people out of work. The Tuscaloosa News reported the plant closing comes as the federal government is transferring the sewing work to inmates in federal prisons.
Alaska: Juneau — The ferry system has a new logo for its 50th anniversary. CoastAlaska says the new Alaska Marine Highway logo is a blue-and-white retro image that includes a ferry surrounded by a circle with the system’s name and an orange banner.
Arizona: Kingman — A company seeking to re-establish the Chloride Copper Mine says the U.S. Bureau of Land Management has accepted its mine plan of operation. The acceptance lets Sierra Resource Group submit its draft environmental assessment, and the company anticipates producing its first copper in 2013. Sierra CEO Rod Martin says when all permits are approved, Sierra can complete construction and start production.
Arkansas: Conway — Acxiom Corp. has pledged $150,000 to supplement instructors’ salaries at the University of Central Arkansas College of Business. Five faculty members in the Department of Management Information Systems will receive up to $37,500 per year for four years with the gift.
California: Oceanside — A disabled boat carrying12 undocumented immigrants from Mexico drifted for three days near Oceanside Harbor. Border Patrol Agent Jerry Conlin said the operator of a private boat found a disabled, 24-foot Skipjack taking on water. The four women and eight men were turned over to Border Patrol.
SIRG makes USA TODAY NEWSPAPER! Sadly it does not mention the SIRG symbol nor that it is an OTC public traded company but the name is getting out there!
Across the USA
NEWS from every state
Alabama: Fayette — An American Power Source apparel plant that makes U.S. military clothing will close Oct. 31, putting119 people out of work. The Tuscaloosa News reported the plant closing comes as the federal government is transferring the sewing work to inmates in federal prisons.
Alaska: Juneau — The ferry system has a new logo for its 50th anniversary. CoastAlaska says the new Alaska Marine Highway logo is a blue-and-white retro image that includes a ferry surrounded by a circle with the system’s name and an orange banner.
Arizona: Kingman — A company seeking to re-establish the Chloride Copper Mine says the U.S. Bureau of Land Management has accepted its mine plan of operation. The acceptance lets Sierra Resource Group submit its draft environmental assessment, and the company anticipates producing its first copper in 2013. Sierra CEO Rod Martin says when all permits are approved, Sierra can complete construction and start production.
Arkansas: Conway — Acxiom Corp. has pledged $150,000 to supplement instructors’ salaries at the University of Central Arkansas College of Business. Five faculty members in the Department of Management Information Systems will receive up to $37,500 per year for four years with the gift.
California: Oceanside — A disabled boat carrying12 undocumented immigrants from Mexico drifted for three days near Oceanside Harbor. Border Patrol Agent Jerry Conlin said the operator of a private boat found a disabled, 24-foot Skipjack taking on water. The four women and eight men were turned over to Border Patrol.
Polluted Italy site a window to Rosemont
A new video documentary portrays a sister company of Rosemont Copper's Canadian parent as unwilling to clean up a polluted Italian gold mine site and willing to walk away from it.
"Cyanide Beach" - a film financed by Farmers Investment Co., a leading opponent of the proposed Rosemont Mine - will be shown in Tucson Thursday.
The film was made by longtime investigative reporter John Dougherty, who has been paid by FICO to investigate Rosemont Copper's parent, Augusta Resource Corp.
FICO, which grows pecan trees in Sahuarita, opposes the mine partly because of competition for water. The mine would be built in the Santa Rita Mountains southeast of Tucson. Dougherty said FICO executives Dick and Nan Walden didn't review or have input into his documentary.
Dougherty's research included trips to Sardinia, Italy, and Vancouver, British Columbia. He estimated the film's cost at $25,000.
The movie is about Sargold Resource Corp., which for several years held a 90 percent interest in a gold mine on the island of Sardinia. Sargold, based in Vancouver, had five of the same directors who now sit on the governing board of Augusta Resource Corp., Dougherty said, including Augusta President-CEO Gil Clausen and Augusta board Chairman Richard Warke. Sargold used the same street address as Augusta, which owns the Rosemont Mine site's private land.
An Augusta Resource Corp. spokeswoman denounced the film as "simply another attack by those opposed to the development of a 21st-century copper project."
"There's very little for us to say that we have not said about the continuous waves of proven false personal attacks upon Rosemont and our team by opponents," said Letitia Cornacchia, Augusta's vice president for investor relations and corporate communications.
Rosemont proposes to mine copper and not gold, and Italy has different environmental rules than the U.S. But Dougherty said Sargold's behavior is what's relevant to the Rosemont controversy. The film's trailer spells out his point: "Two communities, separated by thousands of miles, and one common problem: Canadian mining speculators."
"Sargold passed the buck along, and the end result is a bankrupt operation with an environmental mess that will be foisted upon taxpayers," Dougherty said.
Dougherty said the video shows Sargold made a bunch of business-related promises it didn't keep after buying the mine in 2003. Sargold inherited the pollution. It involved cyanide used to leach the gold from ore leaking into the ground through a tailings dam, Dougherty said.
Sargold told the Sardinian government it would not clean the pollution unless the government let it mine other Sardinia sites, Dougherty said. The government refused, and the pollution wasn't cleaned, even though Sargold had a legal obligation to do it, he said.
Sargold merged with the company Buffalo Gold in 2007, and the merged company folded in late 2008, he said. Dougherty repeatedly offered to interview Augusta officials, but they refused, he said.
Augusta spokeswoman Cornacchia called the film and Dougherty's statements "biased, misleading and inaccurate." Cornacchia, who has not seen the film, declined to elaborate, adding, "The film is based on a flawed premise - produced by one paid by a leading opponent. It is not journalism. Remember that he is the same individual who provided flawed research for a complaint that was filed with the state and was proven wrong and rejected. We will not engage a back and forth."
Cornacchia was referring to the Arizona Corporation Commission's rejection last May of a complaint, filed by mine opponents and based on Dougherty's research, that Augusta broke state law by failing to disclose a bankruptcy filed in Canada by a company of which Warke and another, former Rosemont Copper board member were officers.
In response, Dougherty noted that the ACC didn't find his research factually incorrect; it found the bankruptcy wasn't required to be disclosed in Arizona because it happened outside the U.S.
IF YOU GO
"Cyanide Beach" will be shown at 7 p.m. Thursday at Crossroads Festival Cinema, 4811 E. Grant Road. Admission is free but advance, online RSVPs are requested at http://www.investigativemedia.com/rsvp-for-august-23rd-premiere-of-cyanide-beach/
Contact reporter Tony Davis at tdavis@azstarnet.com or 806-7746.
Judge Rules Arizona Can Begin Enforcement of Immigration Law – Rejects ‘Racial Profiling’ Claims
The ACLU and other activist groups were stunned today as a federal judge rejected their “racial profiling” lawsuit against landmark immigration law S.B. 1070, and cleared the way for Arizona to require police to start questioning suspected illegal aliens they have stopped.
In a 12-page ruling, U.S. District Court Judge Susan Bolton rejected pleas by those groups that what has been absurdly dubbed the “papers please” provision of Arizona’s SB 1070 cannot be enforced without violating civil rights. Bolton said there is no evidence of ‘”racial profiling” against Latinos, as the plaintiffs accused, and they cannot block the law from being enforced. She said lawsuits contesting the legality of the provision are appropriate only after the law takes effect.
More to the point, the judge noted that the U.S. Supreme Court earlier this year overturned a previous injunction she had issued blocking enforcement Section 2(b) which requires police to question those they have stopped if there is reasonable suspicion they are in this country illegally.
“This court will not ignore the clear direction in the (earlier) opinion that Subsection 2(b) cannot be challenged further on its face before the law takes effect,” Bolton wrote.
The activists had expected Bolton to side with them, given that she originally blocked the major sections of 1070 in 2010, before the Supreme Court upheld the central provision in June.
Activists had hoped to block the law from taking effect before the election, as they know that when it was first enacted, more than 100,000 illegal aliens fled the state. Now that Arizona police are free to stop and check immigration status, there is likely to be another large waver of illegals to leave Arizona in the next several months. This could have a big effect on the election, as Democrats cannot count on as much voter fraud as they will get in states like North Carolina – which has seen massive registration irregularities and the outgoing Governor Bev Perdue vetoed a photo Voter ID provision in 2010.
This victory also will embolden states like Pennsylvania and Ohio to move ahead with Arizona-style laws in 2013. Stand With Arizona attorneys and activists are working with 17 state legislatures at this time to assist in the drafting of such laws.
Arizona is besieged by illegal immigration--more people and drugs cross illegally into the United States through Arizona than any other state. And Arizonans suffer the massive levels of crime that go with it. Drug and human smuggling, extortion, kidnapping and murders. And the Federal government has done NOTHING to stop it.
Arizonans have had enough. They decided to stop waiting for the Feds to do what the Constitution mandates--to protect its citizens from external threats. So they passed legislation to help stop the robberies, shootings, rapes, kidnapping, murders, and madness.
This isn't about racism, or xenophobia, or "apartheid" or any of the other hysterical slanders the left has come up. This is about the safety and well-being of the citizens of the state. And its support was overwhelming: 70% of Arizonans supported it. And support is Bi-Partisan, with 84% of Republicans and 51% of Democrats in favor.
But some have now come out and called for a boycott of Arizona. Incredibly, even one of its own U.S. Representatives--Rep. Raul Grijalva has joined this call for a boycott--of his own state!
We are just getting started. Stand with us!
http://www.gopetition.com/petitions/stand-with-arizona-and-against-illegal-immigration.html
The SIRG news is getting picked up but Ahron Sherman, the Miner staff reporter failed to put in any mention that SIRG is a public traded company or the stock Symbol.
He did put in a correction.
Correction: The email address was initially given as info@sierragroup.com. The correct address is info@sierragroupinc.com
Probably not but FOX news did pick up the SIRG article along with KGUN9, a Tucson news channel.
Problem is they don't mention SIRG is a public traded company!
http://www.kgun9.com/news/local/168643506.html
Sierra Resource Group DTC Deposit Chill lifted
Aug 23, 2012
Sierra Resource Group, Inc. (OTCBB: SIRG) announced today that the Depository Trust & Clearing Corporation has advised Sierra that the Depository Trust Company has determined to lift the Deposit Chill on the Company's stock and has resumed accepting deposits of the Company's stock for depository and book-entry transfer services.
"We are pleased with this determination and know our shareholders will be too," said J. Rod Martin, Chief Executive Officer of Sierra.
About the company:
Sierra Resource Group Inc. (OTC Bulletin Board: SIRG) is a U.S based exploration and mining company committed to the exploration, discovery and development of gold, silver, copper and other mineral resources. Sierra's primary asset is 80% ownership of the Chloride Copper Mine located near Kingman Arizona. Sierra has reached an agreement to purchase half of the minority interest taking its overall ownership to 90%. The technical report, NI43-101, by Scott Wilson Roscoe Postle Associates March 10, 2006, estimates the Chloride Copper Mine contains 27,000,000 pounds of copper. The company is looking to expand throughout the Americas in the near future.
Put SRGE on your radar. It just had news and is in the process of uplisting to the OTC but currently has the STOP sign.
At least some people can follow the process and progress of a pinkie getting to the next tier.
Yes the news has been excellent proof that SIRG continues to make progress and remains on schedule for 2013 production.
By the way, you mis-spelled apparentley, mis-spelled words can get you into trouble!
Copper Operation Near Kingman Gets OK
Story by AZPM Staff
September 5, 2012
By The Associated Press
A company seeking to re-establish the Chloride Copper Mine says the U.S. Bureau of Land Management has accepted its "mine plan of operation."
The Kingman Daily Miner reports that the recent formal acceptance allows the Sierra Resource Group to submit its draft environmental assessment and the company anticipates producing its first copper in early 2013.
Sierra CEO Rod Martin says when all permits are approved, Sierra will be free to complete construction and start production.
He says copper is trading at about $3.40 a pound, and its future curve should either stay flat or increase slightly due to the increased demand in developing nations.
Martin says the company expects to hire up to 40 people to operate the mine site.
https://www.azpm.org/p/top-news/2012/9/5/15308-copper-operation-near-kingman-gets-ok/?c=161
Good morning all,
Kitus posted yesterday that the chill is gone and that TDA is allowing SIRG trades online as final proof that that era is behind us.
And the news article yesterday in the Kingman Daily Miner proved that SIRG continues to move forward to production with the hiring of two more employees.
And someone thinks we ought to be worried about some notes that are not even due until 2013.
Rod has done a great job in one year.
Polluted Italy site a window to Rosemont
A new video documentary portrays a sister company of Rosemont Copper's Canadian parent as unwilling to clean up a polluted Italian gold mine site and willing to walk away from it.
"Cyanide Beach" - a film financed by Farmers Investment Co., a leading opponent of the proposed Rosemont Mine - will be shown in Tucson Thursday.
The film was made by longtime investigative reporter John Dougherty, who has been paid by FICO to investigate Rosemont Copper's parent, Augusta Resource Corp.
FICO, which grows pecan trees in Sahuarita, opposes the mine partly because of competition for water. The mine would be built in the Santa Rita Mountains southeast of Tucson. Dougherty said FICO executives Dick and Nan Walden didn't review or have input into his documentary.
Dougherty's research included trips to Sardinia, Italy, and Vancouver, British Columbia. He estimated the film's cost at $25,000.
The movie is about Sargold Resource Corp., which for several years held a 90 percent interest in a gold mine on the island of Sardinia. Sargold, based in Vancouver, had five of the same directors who now sit on the governing board of Augusta Resource Corp., Dougherty said, including Augusta President-CEO Gil Clausen and Augusta board Chairman Richard Warke. Sargold used the same street address as Augusta, which owns the Rosemont Mine site's private land.
An Augusta Resource Corp. spokeswoman denounced the film as "simply another attack by those opposed to the development of a 21st-century copper project."
"There's very little for us to say that we have not said about the continuous waves of proven false personal attacks upon Rosemont and our team by opponents," said Letitia Cornacchia, Augusta's vice president for investor relations and corporate communications.
Rosemont proposes to mine copper and not gold, and Italy has different environmental rules than the U.S. But Dougherty said Sargold's behavior is what's relevant to the Rosemont controversy. The film's trailer spells out his point: "Two communities, separated by thousands of miles, and one common problem: Canadian mining speculators."
"Sargold passed the buck along, and the end result is a bankrupt operation with an environmental mess that will be foisted upon taxpayers," Dougherty said.
Dougherty said the video shows Sargold made a bunch of business-related promises it didn't keep after buying the mine in 2003. Sargold inherited the pollution. It involved cyanide used to leach the gold from ore leaking into the ground through a tailings dam, Dougherty said.
Sargold told the Sardinian government it would not clean the pollution unless the government let it mine other Sardinia sites, Dougherty said. The government refused, and the pollution wasn't cleaned, even though Sargold had a legal obligation to do it, he said.
Sargold merged with the company Buffalo Gold in 2007, and the merged company folded in late 2008, he said. Dougherty repeatedly offered to interview Augusta officials, but they refused, he said.
Augusta spokeswoman Cornacchia called the film and Dougherty's statements "biased, misleading and inaccurate." Cornacchia, who has not seen the film, declined to elaborate, adding, "The film is based on a flawed premise - produced by one paid by a leading opponent. It is not journalism. Remember that he is the same individual who provided flawed research for a complaint that was filed with the state and was proven wrong and rejected. We will not engage a back and forth."
Cornacchia was referring to the Arizona Corporation Commission's rejection last May of a complaint, filed by mine opponents and based on Dougherty's research, that Augusta broke state law by failing to disclose a bankruptcy filed in Canada by a company of which Warke and another, former Rosemont Copper board member were officers.
In response, Dougherty noted that the ACC didn't find his research factually incorrect; it found the bankruptcy wasn't required to be disclosed in Arizona because it happened outside the U.S.
IF YOU GO
"Cyanide Beach" will be shown at 7 p.m. Thursday at Crossroads Festival Cinema, 4811 E. Grant Road. Admission is free but advance, online RSVPs are requested at http://www.investigativemedia.com/rsvp-for-august-23rd-premiere-of-cyanide-beach/
Contact reporter Tony Davis at tdavis@azstarnet.com or 806-7746.
Polluted Italy site a window to Rosemont
A new video documentary portrays a sister company of Rosemont Copper's Canadian parent as unwilling to clean up a polluted Italian gold mine site and willing to walk away from it.
"Cyanide Beach" - a film financed by Farmers Investment Co., a leading opponent of the proposed Rosemont Mine - will be shown in Tucson Thursday.
The film was made by longtime investigative reporter John Dougherty, who has been paid by FICO to investigate Rosemont Copper's parent, Augusta Resource Corp.
FICO, which grows pecan trees in Sahuarita, opposes the mine partly because of competition for water. The mine would be built in the Santa Rita Mountains southeast of Tucson. Dougherty said FICO executives Dick and Nan Walden didn't review or have input into his documentary.
Dougherty's research included trips to Sardinia, Italy, and Vancouver, British Columbia. He estimated the film's cost at $25,000.
The movie is about Sargold Resource Corp., which for several years held a 90 percent interest in a gold mine on the island of Sardinia. Sargold, based in Vancouver, had five of the same directors who now sit on the governing board of Augusta Resource Corp., Dougherty said, including Augusta President-CEO Gil Clausen and Augusta board Chairman Richard Warke. Sargold used the same street address as Augusta, which owns the Rosemont Mine site's private land.
An Augusta Resource Corp. spokeswoman denounced the film as "simply another attack by those opposed to the development of a 21st-century copper project."
"There's very little for us to say that we have not said about the continuous waves of proven false personal attacks upon Rosemont and our team by opponents," said Letitia Cornacchia, Augusta's vice president for investor relations and corporate communications.
Rosemont proposes to mine copper and not gold, and Italy has different environmental rules than the U.S. But Dougherty said Sargold's behavior is what's relevant to the Rosemont controversy. The film's trailer spells out his point: "Two communities, separated by thousands of miles, and one common problem: Canadian mining speculators."
"Sargold passed the buck along, and the end result is a bankrupt operation with an environmental mess that will be foisted upon taxpayers," Dougherty said.
Dougherty said the video shows Sargold made a bunch of business-related promises it didn't keep after buying the mine in 2003. Sargold inherited the pollution. It involved cyanide used to leach the gold from ore leaking into the ground through a tailings dam, Dougherty said.
Sargold told the Sardinian government it would not clean the pollution unless the government let it mine other Sardinia sites, Dougherty said. The government refused, and the pollution wasn't cleaned, even though Sargold had a legal obligation to do it, he said.
Sargold merged with the company Buffalo Gold in 2007, and the merged company folded in late 2008, he said. Dougherty repeatedly offered to interview Augusta officials, but they refused, he said.
Augusta spokeswoman Cornacchia called the film and Dougherty's statements "biased, misleading and inaccurate." Cornacchia, who has not seen the film, declined to elaborate, adding, "The film is based on a flawed premise - produced by one paid by a leading opponent. It is not journalism. Remember that he is the same individual who provided flawed research for a complaint that was filed with the state and was proven wrong and rejected. We will not engage a back and forth."
Cornacchia was referring to the Arizona Corporation Commission's rejection last May of a complaint, filed by mine opponents and based on Dougherty's research, that Augusta broke state law by failing to disclose a bankruptcy filed in Canada by a company of which Warke and another, former Rosemont Copper board member were officers.
In response, Dougherty noted that the ACC didn't find his research factually incorrect; it found the bankruptcy wasn't required to be disclosed in Arizona because it happened outside the U.S.
IF YOU GO
"Cyanide Beach" will be shown at 7 p.m. Thursday at Crossroads Festival Cinema, 4811 E. Grant Road. Admission is free but advance, online RSVPs are requested at http://www.investigativemedia.com/rsvp-for-august-23rd-premiere-of-cyanide-beach/
Contact reporter Tony Davis at tdavis@azstarnet.com or 806-7746.
SIRG - Under valued - Under the Radar
Owns 80% of the Chloride Copper Mine in NW Arizona.
SIRG - PROGRESS TO PRODUCTION - 2012
January 2, 2012, Travis Snider is hired by SIRG as VP of Operations at the Chloride Copper mine to begin the process of returning the mine to production. Paul C. Rizzo & Assoc. are hired to assist with the BLM permitting process, design the heap leach pond expansion and re-engineer the pit.
Travis Snider
January 25, 2012, representatives of Rizzo Associates completed a site visit of the Chloride Copper Mine. The Rizzo Associates team consisted of Dr. Ananda (Andy) Chakrabarti, Senior Consultant, and K. Michael Cline, Principal Geologist. The purpose of the site visit was to provide an independent assessment of the plant, mill tailings, and general site conditions for supporting the Company in bringing the existing SX/EW Plant at the mine back into full operation. The Plant has been idle since 1996.
On February 21, 2012, Rizzo Associates issued a “Trip Letter Report to Assess Status of the Chloride Copper Mine” to the Company. According to the “Trip Letter Report: “The SX/EW Plant is in good condition; however, in need of minor refurbishment and the replacement of some supporting equipment, but most of the equipment can be used and the Plant can be brought back into working c ondition within a reasonable timeframe and limited expense. ” The Company has not currently defined “reasonable timeframe” or “limited expense.”
“We are extremely pleased to have the Rizzo team working to bring the mine back into production and beginning work to improve the accuracy of our reserve estimate,” says J. Rod Martin Chief Executive Officer of the Company.
On May 2, 2012, the Board of Directors of Sierra Resource Group Inc. by unanimous written consent appointed Barton R. Budman and Carlos F. Cardon to its Board of Directors.
Mr. Budman is a Certified Public Accountant licensed in the state of Florida. Since 2007, Mr. Budman has served as the Chief Financial & Operating Officer for a world renowned mega-yacht manufacturer, chartering company, and real estate investment & development organization, Broward Yacht & Marine / LPI Holdings, LLC with total annual revenue in excess of $135 million. Mr. Budman holds dual BBA degrees in accounting and finance as well as a Masters of Business Administration from the University of Miami.
Mr. Cordon is the Commercial liaison, since 2011, for the development of telecommunications, mining and energy projects between the Chinese Government Foreign Development Agency and the Central American Business Community. Founder and Director of Tacontento International Corp, a chain of Mexican restaurants with more than 20 locations in five countries. Founder and Director, Los Ranchos, Guatemala, 1994-2011, a steak house chain, with more than a dozen location in 4 countries, including several locations in south Florida. Founder and Director, Yogen Fruz, Central America, Central American Franchisee, 1992-2011, Yogen Fruz is a publicly traded Canadian company and one of the largest frozen yogurt franchising companies in the world. Founder and Director, Mayan Republic Brand, Guatemala, 1985-1995, a merchandiser of hand loomed textile clothing exported to the US and Europe.
June 1, 2012 Sierra Resource Group, Inc. ( OTCQB: SIRG) announced today that it plans to launch its new website in June. Sierra engaged Miami based IT firm, Ingenium Solutions, LLC, to design and build the Company's new website, which will feature easy access to the latest Company news, descriptions of the Sierra's mining properties, resource reports and operations, and a separate section for investor information, including direct links to SEC filings and corporate governance policies. Ingenium is a well respected, total service IT firm that will be handling all IT work for Sierra in the future.
"We are very pleased with the design work of the firm, Ingenium Solutions, LLC, and the special attention its President Antonio Manueco gave to the project," said J. Rod Martin, CEO of Sierra.
Mr. Martin added: "Sierra intends to use its website http://www.sierragroupinc.com as a means of disclosing material information and for complying with its disclosure obligations under SEC Regulation FD. Such disclosures will be included on the Company's website under the headings 'Latest News'. Accordingly, investors should monitor such portions of the Company's website, in addition to following the Company's press releases, SEC filings and public conference calls and webcasts."
June 6, 2012 - SIRG hosted a Town Hall meeting in Chloride for the locals, BLM agents and government officials where he announced SIRG's plans to re-open the mine with production planned to start in Jan/Feb.
J. Rod Martin, CEO at the Town Hall meeting. He bought 9,700,000 shares of SIRG as an investment prior to becoming CEO.
June 6, 2012, SIRG awarded a contract to Desert Construction of Kingman for the dig/load/haul operations at the Chloride Copper Min.
June 6, 2012, SIRG signed a Letter of Intent (“LOI”) with Upward Investments, LLC (“UI”) for the purchase of UI’s 90 acres of land adjacent to the Company’s existing claims. The Company would like to acquire UI’s property for the Company’s mining operations. Further representations and warranties shall be included in the to be drafted Definitive Agreement.
July 2, 2012 - When countersigned by each of the parties, this Letter of Intent outlines the general terms as of the 2nd day of July, 2012 for the agreement by and between SIERRA RESOURCE GROUP,INC., a Nevada Corporation, hereinafter referred to as (“SIRG”) and MEDINA PROPERTY GROUP, LLC, a limited liability company incorporated in Florida (hereinafter referred to as “MPG”)
It is intended that SIRG and MPG shall, subject to the terms set forth herein and in the “Definitive Agreement”, enter into the following terms regarding the Chloride Copper Mine, in Kingman Arizona:
WHEREAS, MPG is the owner of a 20% interest in The CHLORIDE COPPER MINE, a mining concession which lies approximately 24 km northwest of the City of Kingman, Arizona, and some 100 mi southeast of Las Vegas, or 172 mi northwest of Phoenix, Arizona. The geographic coordinates of the property are 35° 21’ N Latitude and 114° 10’W Longitude (T22 and 23 and R 18).
AND WHEREAS “SIRG” would like to increase its interest ownership of the Chloride Copper mine to 90% interest in the “Chloride Copper Mine”, for development,
NOW THEREFORE, the Parties hereto hereby agree as follows:
I. Upon execution of this Letter of Intent, MPG hereby agrees to:
1.
Provide a good faith non refundable deposit of $6,500 upon the signing of this agreement and on each 1 st of the month up to the closing date. SIRG shall not be responsible for any deposits incurred after the closing date.
2. The parties will diligently and in good faith negotiate a definitive agreement (the “Definitive Agreement”) incorporating the principal terms of the contemplated transaction as set forth herein and, in addition, such other terms and provisions of a more detailed nature as the parties may agree upon. In the Definitive Assignment Agreement, each of SIRG and MPG will make such representations and warranties are customary in transactions of this nature. All representations and warranties will survive the closing of the transactions contemplated herein and any and all investigations at any time made by or on behalf of the parties. The Definitive Agreement shall be completed and executed on or before October 1, 2012 (the “Closing Date”), unless both parties agree to an extension not to exceed 10 days.
3. Certify the Certificate of Ownership, titles and other required information.
4. Provide any and all documentation proving its compliance with the laws governing mining in Arizona and the United States of America.
II. TERMS OF AGREEMENT:
SIRG will pay the sum of $1,500,000 (ONE MILLION FIVE HUNDRED THOUSAND USD) in the following manner:
1. $1,500,000 at closing in the form of a wire transfer to MPG’s assignees or designees.
2. SIRG shall deliver a certificate(s) totaling 20,000,000 shares of Class A Common Stock of SIRG upon signing of a definitive purchase agreement to the assignees of MPG.
3. SIRG shall deliver warrants granting MPG or its assignees the right to purchase 20,000,000 shares of Class A Common Stock of SIRG at an exercise price of $0.27 per share with an expiration date of ten (10) years following the signing of a definitive purchase agreement.
4. MPG shall deliver Deed and Bill of Sale representing 50% of its interest in the Chloride Copper Mine.
July 25, 2012 Sierra Resource Group, Inc. engaged Marcum, LLC (“ Marcum ”) as its new independent registered public accountants , effective July 25, 2012. The decision to change accountants was recommended and approved by the Company’s board of directors. This action effectively releases Tarvaran, Askelson & Company, LLP (“ TAC ”) as the Company’s independent auditor.
8/15/2012 @ 4:05PM SIRG) (the "Company" or "Sierra") announced today that its Mine Plan of Operation has been reviewed and accepted by The Bureau of Land Management. This formal acceptance has allowed Sierra to submit its draft Environmental Assessment in order to comply with the National Environmental Protection Agency. "We're working closely with The Bureau of Land Management and the interactive process is positive," said J. Rod Martin, CEO of Sierra.
Aug 14, 2012 - On or about January 2012, the Depository Trust & Clearing Corporation (“DTC”) suspended post-trade settlement services (known as “Global Lock” or “Chill”) for our securities. Upon our inquiry, the compliance department at the DTC advised us that the Global Lock had been instituted due to their uncertainty about the valid issuance of shares of our company held in street name under their nominee Cede & Co. Our management subsequently provided documentation necessary to lift the Global Lock, and on August 14, 2012, the DTC advised us that they had resumed accepting deposits of the Company’s stock for depository and book-entry transfer services.
Aug. 21, 2012 -- Sierra Resource Group, Inc. announced today that on August 1, 2012 it awarded the transfer and modification of its existing Aquifer Protection Permit to CDM Smith (www.cdmsmith.com) a full service, consulting, engineering, construction, and operations company that guides clients across the project life cycle in water, environment, transportation, energy, and facilities.
"We looked at a host of well qualified companies to handle this very important permit process and feel confident in our selection of CDM Smith," said J. Rod Martin, CEO of Sierra.
CDM Smith will prepare all materials for permit transfer, will prepare the BADCT demonstrations for the new facilities as contemplated by Sierra for future operations, will prepare the Amendment (Modification) Application package and final application for submittal and will fully manage the project to completion including handling all meetings with ADEQ and Sierra.
"CDM Smith is well versed in this type of permitting and its inner team has a wealth of experience in dealing with ADEQ," said J. Rod Martin, Chief Executive Officer of Sierra.
8/23/2012 SIRG announced today that the Depository Trust & Clearing Corporation has advised Sierra that the Depository Trust Company has determined to lift the Deposit Chill on the Company's stock and has resumed accepting deposits of the Company's stock for depository and book-entry transfer services. "We are pleased with this determination and know our shareholders will be too," said J. Rod Martin, CEO of Sierra.
Class A: Authorized shares: 440,000,000
Class A: Total issued and outstanding: 347,833,085
Class A: Total restricted: 51,485,000
Class A: Float: 296,348,085
Client Service
Pacific Stock Transfer Company
4045 S. Spencer Street, Suite 403
Las Vegas, NV 89119
Phone: 702-361-3033 Ext 118
Toll Free: 800.785.PSTC (7782)
News Today:
http://www.kingmandailyminer.com/main.asp?Search=1&ArticleID=52504&SectionID=1&SubSectionID=798&S=1
Agree and thank you Salty for all your assistance in cleaning up the SIRG board.
Don't get greedy, already had great SIRG news this morning and the elimination of a PIA so what a great day!
Me thinks the board will be a lot quieter and peaceful in the future.
Wondering why the concern without an interest in investing in SIRG?
SIRG underwent a forensic audit to get the chill removed. It was done by Tarvaran, Askelson & Company, LLP.
During the past two years, neither the Company nor anyone acting on its behalf consulted with Marcum regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed other than that discussed above, or the type of audit opinion that might be rendered on the Company’s financial statements, or (ii) any matter that was either the subject of a “disagreement” (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a “reportable event” (as described in Item 304(a)(1)(v) of Regulation S-K).
The Company provided TAC with a copy of the above disclosures and requested that TAC furnish the Company with a letter addressed to the SEC stating whether or not it agrees with the statements made above. A copy of TAC’s letter dated August 3, 2012 is attached as Exhibit 16.1 to this Report.
That answers that question, now what "appears" to be more to the Marcum connection? Please be specific!
Maybe there is more, maybe the funding company requested a higher tier accounting firm.
Waiting for your "appears" explanation.
Arizona has been and continues to be the site for the "desert dirt" scams that these gold miners think they can pull off.
Currently there are only 2 known gold mining operations in Arizona but at least a dozen "claiming" they will find the Mother Lode if they can just raise enough money to keep looking!
I didn't know SIRG had hired a mine engineer or a metallurgist so THAT IS NEW.
I didn't know they were taking employment applications yet! THAT IS NEW.
PROVE THAT THOSE TWO ITEMS WERE PREVIOUSLY STATED!
Through the process, Sierra managed to locate a mine engineer, who will manage the entire facility, and a metallurgist, who will run the solvent-extraction/electro-winning plant.
"Hiring of various positions has begun and the bulk of the staffing requirements will be filled as we get further along in the permitting process," Martin said.
Though the company has yet to start officially hiring, Martin said people hoping to find employment with Sierra Resource Group's Chloride Copper Mine should send an email containing their résumé, work experience and salary requirements to info@sierragroup.com.
Choosing A Minerals Appraiser
There are substantial differences between conventional real estate - single family residences, apartment houses, and downtown commercial office buildings - and mineral property appraisal. Mineral properties are a unique combination of geology, land, property rights, and mineral markets, possessing special attributes and characteristics that conventional real estate appraisers are normally not aware of. A mineral property is a location specific and dependent, special-purpose, limited-market property, and to properly perform an appraisal or evaluation of a mineral property and to communicate the results requires an appraiser with specialized knowledge, skills, and abilities. Acquiring the necessary geologic, mining, minerals industry, and appraisal competency is a long and arduous process, but it is absolutely essential for increasing client and third party confidence and reducing uncertainty in the results.
Questions for screening prospective minerals appraisers: Any appraiser you intend to engage for performing an appraisal of your mineral property or mining business should be able to answer these questions to your satisfaction. Listening carefully to the answers should help guide you in your selection.
(1) What percentage of your time is devoted to the appraisal of mineral properties and mining businesses?
Ideally, the appraiser would be performing only mineral property appraisals and mining business valuations, but the percentage of minerals appraisals should at least be greater than 50%. Some companies may be more interested in property or business brokerage, mining and processing equipment sales, private lending or investment schemes, or other non-valuation activities and may be using their appraisal services only as a lead-in for these activities.
(2) How long have you been appraising mineral properties and mining businesses?
You want a minerals appraiser with a minimum of five years experience actually appraising many different kinds of mineral properties and mining businesses for a broad variety of clients and for many different purposes. A conventional real estate appraiser who normally appraises houses or shopping centers would not have the required geologic, mining, and mineral marketing skills necessary for a credible appraisal. A typical geologist or mining engineer may only be capable of telling you how many tons you have because he does not understand the requirements for bank lending, estate and gift taxation, or legal proceedings such as business dissolution, divorce, or condemnation.
(3) Are you a Certified or Designated member of the American Institute of Minerals Appraisers (AIMA) and/or the Mines and Quarries discipline of the American Society of Appraisers (ASA)?
Are you current with your organization's Continuing Professional Development and Recertification requirements?
These are the only two professional appraisal organizations in the United States that certify or designate members as an appraiser with a specialty in appraising mineral properties or valuing mining businesses. Both of these organizations require their designated members to possess an appropriate mineral industry college degree such as geology, mining engineering, metallurgical engineering, mineral economics, or accounting. In addition they require at least five years of full-time progressively more responsible professional minerals appraisal experience during which full competence has been demonstrated in the application of professional principles and methods involving the understanding of the appraisal approaches utilized in the market for valuing mineral rights and properties and mining businesses interests.
Both the American Institute of Minerals Appraisers and the American Society of Appraisers require applicants to submit actual appraisal reports for peer review of their work product in order to establish the required knowledge and experience requirements. The American Society of Appraisers also requires its applicants to complete a comprehensive examination covering both minerals and appraising knowledge. The American Society of Appraisers also requires it members to complete 100 hours of continuing education in their area of specialization every five years.
(4) Are you a Certified General Real Property/Real Estate Appraiser in your state of residence? What is your license number?
All states require real estate or real property appraisers to be certified as a general appraiser under the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) of 1989 in order to appraise property for lending by a bank. Some states require this certification for any and all appraisals of real estate and interests in real property.
(5) Are you a Registered Professional Geologist or Mining Engineer in your state of residence? What is your license number?
Currently,early 1998, 22 states require some form of registration, certification, or licensing of persons performing geologic services for the public according to the National Association of State Boards of Geology (ASBOG). All states require registration as a Professional Engineer, but not all states recognize engineering specialties such as Mining Engineer, Geological Engineer, or Metallurgical Engineer. For bank lending purposes and certain legal proceedings some states may have a requirement for licensing or registration as both an appraiser and a mineral industry professional.
(6) Are all of your mineral property appraisals and mining business valuations performed and reported in accordance with The Appraisal Foundation's Uniform Standards of Professional Appraisal Practice (USPAP)?
Many otherwise competent mining engineers or geologists may be able to provide you with useful information about mineral resource potential, mineable reserves, or expected cash flows, but they are not normally aware of such appraisal issues as highest and best use, encumbrances, partial interests, comparison to sales of similar mineral properties, and other USPAP requirements. The Appraisal Foundation has been authorized by the US Congress as the organization responsible for establishing real property appraisal standards and appraiser qualifications. The Internal Revenue Service and other taxation and financial accounting authorities also have specific requirements relating to the appraisal of mineral properties and the valuation of mining businesses.
(7) Have you performed appraisals on mineral properties or mining businesses that are like mine for similar purposes and uses?
Do not be too surprised if a minerals appraiser has not performed an appraisal on a property exactly like yours or for exactly the same reasons. No minerals appraiser has appraised every type of mineral property. There are so many different kinds of mineral properties and mining businesses and reasons that they may be appraised that absolute agreement with yours may be asking too much. What you want is a minerals appraiser who has appraised a broad cross section of different types of mineral properties and mining businesses for a variety of purposes and who will be open and honest with you about his education and experience. Some minerals appraisers tend to specialize in certain types of mineral properties and may be reluctant to take on an assignment that concerns a different type of property and some are unwilling to perform appraisals related to litigation.
(8) Are you willing to sign explicit appraisal and confidentiality agreements?
It is always a good idea to obtain a written agreement of some form, from an engagement letter to a detailed contract, for the performance of a minerals appraisal or consulting engagement. At a minimum this agreement should specify the mineral property to be appraised or the mining business interest to be valued, the scope of the work necessary to complete the minerals appraisal engagement, the purpose and intended use of the appraisal, any special conditions that may exist, along with an estimated completion time, working days and calendar days, and cost and payment terms. It is also a good idea to use an explicit confidentiality agreement because the confidentiality requirements of USPAP are significantly different than most mineral property owner's expectations. Any agreement should also specify who owns and has control of the appraisal report. This can be an important consideration for minerals appraisals performed for litigation purposes.
(9) How long do you think this assignment should take and how much will it cost?
The prospective minerals appraiser probably cannot give you a highly accurate time and dollar answer without knowing more about the type of mineral property, its stage of development, and the purpose and intended use of the appraisal, but he should be able to provide you with a range of completion times and professional fees and business expenses that similar engagements have required.
(10) Will you give me the names and phone numbers of three clients for whom you have performed similar minerals appraisals?
Follow up and call each one.
(11) Will you give me the names of other minerals appraisers who also perform appraisals of the type and complexity I need?
This may be asking too much, but at the least the prospective minerals appraiser should be willing to provide you with a contact name and phone number of the two nationally recognized minerals appraisal professional societies.
American Institute of Minerals Appraisers: 303-443-2209
American Society of Appraisers: 800-ASA-VALU (800-282-8258)/703-478-2228
(12) What types of information will you need form me in order to successfully complete this mineral property appraisal or mining business valuation engagement?
Qualifications of a Mineral Property Appraiser
Estimating the value of a mineral property is a unique challenge requiring the specialized knowledge and experience of an appraiser and the expertise of a licensed geologist with mining industry experience.
A geologist with a background in mining is necessary to accurately evaluate the unique, three-dimensional geological characteristics of a mineral property, namely the orebody. Applying supply and demand economics to the geological characteristics of a property results in the development of an ore reserve, or the quantity and quality of minerals that can reasonably be expected to be extracted from the property at a profit over a period of time. If the economic evaluation of the property indicates that there are no anticipated mining profits, then there is no orebody, and an appraisal of the mineral rights is not necessary.
A certified general appraiser is necessary to perform a Uniform Standards of Professional Appraisal Practice (USPAP) compliant appraisal report that can be utilized by the mining industry, banks, governments agencies, etc. Valuing mineral properties using the USPAP guidelines has become the generally accepted method in the mining industry, government and academia. Any selected appraiser/geologist must have the experience and knowledge to interpret the geological data, economic feasibility studies, ore reserve analyses, mining plans, accounting records, and other mining property specific information that is necessary to complete an appraisal of a mineral property.
The Data Requirements for Mineral Property Appraisal and Mining Company Valuation Data Requirements pages that are part of this website will provide you with a good idea of the types of data that will normally be required.
WRONG AGAIN
Really? Yes everything has been "out there" for awhile but it was stated as "false" and not proof. Hope this is enough proof for everyone!
Post #17424 - yesterday
SIRG on schedule to open their Chloride Copper Mine.
Though the company has yet to start officially hiring, Martin said people hoping to find employment with Sierra Resource Group's Chloride Copper Mine should send an email containing their résumé, work experience and salary requirements to info@sierragroup.com.
Martin said the company expects to hire up to 40 people to operate the mine site.
http://www.kingmandailyminer.com/main.asp?Search=1&ArticleID=52504&SectionID=1&SubSectionID=798&S=1
9/5/2012 6:01:00 AM
Chloride Copper Mine clears regulatory hurdles
Though the company has yet to start officially hiring, Martin said people hoping to find employment with Sierra Resource Group's Chloride Copper Mine should send an email containing their résumé, work experience and salary requirements to info@sierragroup.com.
Martin said the company expects to hire up to 40 people to operate the mine site.
http://www.kingmandailyminer.com/main.asp?Search=1&ArticleID=52504&SectionID=1&SubSectionID=798&S=1
The Company is authorized to issue 750,000,000 shares of $.01 par
value stock. The Company’s common stock is traded through OTC Pinks Quotation Service under the symbol “GDSM” (CUSIP# 38058D102).
As of December 31, 2011, there were 579,887,086 shares of the Company’s common stock outstanding.
GDSM Security Details
Share Structure
Market Value $2,204,605 a/o Jul 25, 2012
Shares Outstanding 629,887,086 a/o Mar 31, 2012
Float 599,887,086 a/o Mar 31, 2012
Authorized Shares 750,000,000
If there was no dilution as Marc claimed, how did the O/S grow to 629,887,086 from 579,887,086 in just 3 months?
Per their recent Quarterly filing (6/30/2012) the O/S is 654,887,086.
25,000,000 shares were issued to lower the legal debt but they still owe $501,615. 25M shares reduced the debt by $50K.
There are less than 100M shares left in the treasury and that would cover only $200K leaving them $300K short. GDSM does not have enough shares to cover that debt! How are they going to pay it off?
Thanks so much for discovering that gem of an article. I will post it here so everyone can read it.
9/5/2012 6:01:00 AM
Chloride Copper Mine clears regulatory hurdles
A shot of the solvent-extraction/electro-winning plant, which is used to pull copper from oxidized copper ore bodies, at the Chloride Copper Mine.
Ahron Sherman, Miner Staff Reporter
Up to this point, it's been smooth sailing for Sierra Resource Group, the company set on re-establishing the Chloride Copper Mine formerly known as Emerald Isle, and it anticipates producing its first copper in early 2013.
The company recently announced that the Bureau of Land Management accepted its Mine Plan of Operation, which was completed by Paul C. Rizzo Associates, Inc. This formal acceptance allowed Sierra to submit its draft environmental assessment, which was completed by the same firm, in order to comply with the requirements of the National Environmental Protection Act.
"We are working closely with BLM on permitting, and the interactive process is positive," said Sierra CEO Rod Martin. "This puts us on schedule."
Once completed, the federal side of the permitting process is done, he said.
Sierra contracted the firm CDM Smith to handle the transfer and modification of the existing Aquifer Protection Permit, which is handled through the Arizona Department of Environmental Quality.
"Sierra is confident in CDM Smith's ability to lead this permit process to completion," Martin said.
When all permits are approved, Sierra will be free to complete construction and start production, Martin said. The project is expected to produce nearly 5 million pounds of copper per year once it gets going.
Through the process, Sierra managed to locate a mine engineer, who will manage the entire facility, and a metallurgist, who will run the solvent-extraction/electro-winning plant.
"Hiring of various positions has begun and the bulk of the staffing requirements will be filled as we get further along in the permitting process," Martin said.
Solvent-extraction/electro-winning is a process used to pull copper from oxidized copper ore bodies.
"This experience has been terrific," Martin said. "It's gone very smoothly, but in any business there's always going to be hurdles."
Copper is trading at about $3.40 a pound, and its future curve should either stay flat or increase slightly due to the increased demand in developing nations, Martin said.
"In the long-term," Martin said, "copper mining looks like a good place to be."
Though the company has yet to start officially hiring, Martin said people hoping to find employment with Sierra Resource Group's Chloride Copper Mine should send an email containing their résumé, work experience and salary requirements to info@sierragroup.com.
Martin said the company expects to hire up to 40 people to operate the mine site.
http://www.kingmandailyminer.com/main.asp?Search=1&ArticleID=52504&SectionID=1&SubSectionID=798&S=1
Accounting issues? I strongly suggest everyone read the last 3 GDSM Financial Disclosure Statements and figure out how many shares were issued from Oct of 2011 to Dec of 2011. Surprise! They can't count!
Filing a false financial statement is not good especially since Marc touted last Dec. 21st that he was working on hiring an accredited accounting firm. But then that statement is proving to be BS fluff as 9 months is more than sufficient time to get the job done.
I forgot about the failure of Raptor Investments! Brass Bulls, LBI Companies and now Raptor Investments all GOT SUED! So now we know who GDSM owes all that money to!
Case ID: 502006CA010344XXXXMB
Case Caption: GELPID ASSOCIATES VS RAPTOR INVESTMENTS INC
Division: AO - BRUNSON
Filing Date: Thursday , October 05th, 2006
Court: CA - CIRCUIT CIVIL
Location: MB - MAIN BRANCH
Jury: N-Non Jury
Type: CD - CONTRACT & DEBT
Status: PE - PENDING
Case Parties
Seq # Assoc Expn Date Type ID Name
1 PLAINTIFF @698865 GELPID ASSOCIATES LLC
2 1 23-JAN-2008 ATTORNEY 0131430 REYNOLDS , ESQ., JOHN H Aliases: none
3 DEFENDANT @698866 RAPTOR INVESTMENTS INC
4 DEFENDANT @698867 J&B WHOLESALE PRODUCE INC
5 DEFENDANT @698868 LOVITO, PAUL
6 DEFENDANT @698869 LOVITO JR, PAUL
7 DEFENDANT @698870 LOVITO, MATTHEW
8 DEFENDANT @698871 LOVITO, MARC
9 DEFENDANT @698872 LOVITO, DARRIN
10 JUDGE AO BRUNSON, JUDGE CATHERINE M
http://courtcon.co.palm-beach.fl.us/pls/jiwp/ck_public_qry_doct.cp_dktrpt_frames?backto=P&case_id=502006CA010344XXXXMB&begin_date=&end_date=
Here's another lawsuit against Marc in 2009.
http://courtcon.co.palm-beach.fl.us/pls/jiwp/ck_public_qry_doct.cp_dktrpt_frames?backto=P&case_id=502008SC002078XXXXMB&begin_date=&end_date=
LEGAL PROCEEDINGS
As previously disclosed, the Company has been engaged in litigation with its lenders from the Company’s previously owned wholesale produce subsidiary. In July 2011 the court entered a Judicial Default against the Company for lack of legal representation.
The Company has since had additional discussions with counsel for the Plaintiff to pursue a final resolution and settlement of the matter. It is the opinion of management that in light of bringing the Company’s financial filings current and the potential mining project(s) with Western Sierra, a favorable resolution to this matter can be achieved.
So looks like GDSM could not even afford a lawyer!
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=69266
Please provide a link to those numbers. And less than 5M shares in July and Aug and less than 2M in May is NOT HIGHLY ACTIVE.