Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
YES and the answer is that Mr. Chaffee never gave permission for the Azurite Report that is the property of the Whartons to be published on a public site!
This is the only amendment found and it shows the A/S at 750,000,000 and the preferred at 5,000,000.
http://sunbiz.org/pdf/50478195.pdf
Please show another amendmanet that increases the preferred shares.
Chaffee has come through. He provided the mining claims available for development. GDSM failed to produce those promised funds! Chaffee offered to set up the shareholder's meeting in Prescott, Marc never gave him a date. Chaffee gave Marc the Gold Crown test results, Marc never released them.
Love that new merger company, looking for $700K plus to explore, survey, map, permit, drill and test those claims!
And now WSRA may be sitting on 30 to 40M GDSM preferred shares that are not legal. See:
http://sunbiz.org/pdf/50478195.pdf
Well SIRG L2 sure changed fast. Ask back to .012.
SIRG ask at .013 and only 100K shares available.
WSRA not on fire but IF they can develop the Azurite and the Silver Cord they will gain a lot of attention. Their float is so small it won't take much to ignite a buying spree.
WSRA is not blowing anything. GDSM has failed to provide the funding from the "private investors" that Marc claimed to have lined up!
The GDSM PR today does not include WSRA just as WSRA's PR did not include GDSM. Why didn't Marc mention the Azurite or the promised shareholder's meeting?
The reason is simple - the JV is toast!
WSRA has existed just fine without either of the two latest failed JVs and they will do fine by themselves.
SIRG has proven to be a real company that owns 80% of the Chloride Copper Mine north of Kingman, AZ. The local newspaper printed 3 articles about SIRG and the mine, including a picture of SIRG's CEO at a town hall meeting in Chloride to discuss the opening of the mine.
Impossible to fake that!
The Chloride Copper mine as seen on Google Earth! Can't fake that!
SIRG's CEO, J. Rod Martin, speaking at the town hall meeting, picture taken by Ahron Sherman, news editor at the Kingman Daily Miner. Impossible to fake that.
Fact: SIRG is a real company moving forward to producing copper in early 2013.
Good morning Salty, good to see you up and looking forward to another day of normal trading activity on SIRG. A look at the previous trading activity shows normal trading.
Time & Sales
Price Size Exch Time
$0.0110 13,500.....09/24
$0.0110 300,000.....09/24
$0.0110 200,000.....09/24
$0.0110 10,000.....09/24
$0.0110 190,000.....09/24
$0.0110 373,200.....09/24
$0.0100 9,500.....09/24
$0.0120 50,000.....09/21
$0.0111 100,000.....09/21
$0.0120 193,000.....09/21
$0.0120 50,000.....09/21
$0.0120 100,000.....09/21
$0.0120 250,000.....09/21
$0.0120 1,560.....09/21
$0.0115 300,000.....09/21
$0.0120 8,440.....09/21
$0.0120 153,060.....09/21
$0.0120 40,000.....09/21
$0.0115 260,000.....09/21
$0.0115 20,000.....09/21
$0.0105 8,637.....09/21
$0.0110 21,363.....09/21
$0.0115 20,000.....09/21
$0.0120 8,000.....09/20
$0.0105 20,000.....09/20
$0.0115 15,000.....09/20
$0.0120 18,800.....09/20
$0.0120 11,600.....09/20
$0.0115 8,000.....09/20
$0.0110 5,000.....09/20
While there is proof of a check to WSRA, there is NO proof what it was used for nor is there any revelation of what TCS received for his $50K. For all we know Chaffee is done with GDSM and could have refunded TCS his $50K. Nothing posted lately!
Do the math! WSRA sold 8M shares for $50K. But those buyers had better plan on holding those converted 120,000,000 shares until Marc gets around to filing an amendment increasing the A/S.
40,000,000 Series E converted at 15-1 comes to 600,000,000 shares. Now where are those shares going to come from? That will put GDSM's A/s over 1 BILLION shares!
Then there are the remaining 60,000,000 in GDSM's treasury. Add the conversions for those!
And Marc said NO DILUTION!
On March 9, 2012, former Director James Stonehouse and the Company entered in to a settlement agreement and general release of claims whereby all debt of approximately $106,000 owed by the Company to Mr. Stonehouse were satisfied in exchange for 250,000 options at an exercise price of $0.05 per share.
James Stonehouse was the VP of Operations of the mine when it was owned by Copper Mesa and worked there. He knows the mine better than anyone.
Clearly James expects SIRG share price to far exceed .05 for him to agree to forgive $106,000 in exchange for the write to buy options at .05.
$50,000 for 8M GDSM Series E shares comes to $400,000 the amount agreed upon for the funding of the CG and GS. The first payment was made months ago and then TCS just posted his check made out to WSRA for $50K. That make 2 $50K payments.
And the Series E Preferred Convertible Shares were set at 5,000,000 so how could GDSM give WSRA 40,000,000. That is 35,000,000 shares that GDSM did not have! There is no amendment filed that increases the Prefered E shares.
Is your contention that someone just wrote a check to WSRA (actually 2 $50K checks have been written) without getting something in return?
The GDSM Series E Preferred Convertible Shares given to WSRA in 2009 were to be sold to fund the GC and GS JV with WSRA to raise $400,000.
If I bought 8,000,000 of those shares for $50K I would want to sell them. Marc's Aug 16th amendment changed the conversion to common from 1-1 to 15 to 1 so when I convert those Series E shares I get 120,000,000 common shares and I would want to see at least half of them.
But there are not enough O/S or A/S shares to cover the current O/S plus my 120,000,000 new shares.
With a tagged TA how does anyone know what is going on? All investors can do is rely on the filings done in Florida as the recent quarterly statements filed on OTC Markets are wrong!
It was irresponsible of Marc to publish that report without permission but then why am I not surprised?
Now the question is - where did GDSM get the $50K from for that down payment? Was it from the sale of GDSM Series E shares that my be illegal? That would void that transaction!
I recall that .27 price on the SIRG warrants and was surprised it is that high but they clearly expect SIRG to be a much larger company in 10 yrs.
SIRG would make a nice IRA investment and at that price would provide a very nice retirement for many who hold a couple of million shares.
That is always a problem with pinkie stocks like WSRA and GDSM. No 8Ks are filed with details and the shareholders are never informed what is going on.
Marc still has not revealed the August 16th Florida amendment on the Series E Preferred conversion change.
Marc still has not released the test results from the GC that were given to him mid July.
GDSM still has the YIELD sign due to the lack of an attorney letter.
And if it snows in Prescott in June I will believe the shareholder's meeting will be held there.
The Azurite report is the personal property of Jesse and Sara Wharton who paid Jenkins to produce it. They gave it to Mr. Chaffee, CEO of WSRA to review. He passed it on to Marc to show his "private" investors.
Marc was never given permission to publish it on the GDSM website and was told to remove it.
Why do you think today's PR didn't say this:
"Western Sierra Mining Corp., (OTC:WSRA) confirmed today that with its JV partner, Gold Coast Mining Corp (GDSM) they are in the process of re-opening the Azurite mine in the Bradshaw Mountains of Arizona. Sierra acquired the property early in the 3rd quarter of 2012 with funding by GDSM."
08/14/2012 "Under the terms of the JV, Gold Coast will have a 50% working interest in the Azurite property in exchange for funding assistance to bring the claims into production. Gold Coast has also made payment of the initial $50,000 required under the conditions of the Agreement."
NOTE: GDSM), is pleased to announce today that the Company has entered an Agreement with Western Sierra Mining
THAT PR DOES NOT SAY THAT GDSM SIGNED AN AGREEMENT!
WSRA bought the Azurite but it does not say it bought it with GDSM nor does it mention GDSM in the PR.
But there is no record in the Yavapai Co. records showing the purchase and Chaffee states early in the 3rd quarter.
I did find that the Whartons bought the Crown Jewel from Don Jenkins and Bonnie Miller on August 7, 2012, recorded on Sept 4, 2012.
Quit Claim Deed - 2012-0049591
Reception Number
2012-0049591
Book 4903 Page 379
Recording Date
09/04/2012 11:10:33 AM
Document Date
08/07/2012
Return To
JASON L WHARTON
Address 1
1380 S 2300 E
MALTA, ID 83342
http://eweb.co.yavapai.az.us/recorder/eagleweb/downloads/2012_0049591.pdf?id=DOC310S3721.A0&parent=DOC310S3721
You searched for: exact search in BothNamesID for western sierra and RecordingDateID >= Mon Jan 02, 2012 and <= Mon Sep 17,2012
No results found
I agree and just as the JV with GEAR was a failure I think the JV with GDSM is over. The fact that the Azurite report was removed from the GDSM website appears to confirm this.
WSRA is an Arizona mining company, been around for over 100 yrs, just need to find investors to fund the development of their properties. With gold on the rise and some actual assay reports they should be able to accomplish this.
That purchase will bring SIRG's ownership of the mine to 90%.
Remember the Rizzo Report done for SIRG last April?
It increased the reserves and they are higher than previously estimated. The existing ore below
the current bench levels from 3695 to 3420 values known between 3420 and 3310 could add another 13 Mlbs. Many holes were
abandoned with higher than cut-off grade Cu values in and around the existing pit. Their continuation at depth could
prove additional resources. Based on the forgoing, it is safe to assume that the current known resources would
provide a minimum of 50 Mlbs of ore; at 5Mlbs/annum, that would support a 10 year mine life.
I suggest that everyone contact Mr. Chaffee, WSRA's CEO, and learn the facts.
Very interesting WSRA news release and NOT ONE WORD ABOUT GDSM or the JV partnership!
Item 8.01 Other Events.
The Company's board approved a plan to implement a 20:1 reverse split of the Company's common stock. As permitted under Nevada law (NRS 78.207), the Board resolves to change the number of shares of the Company's authorized common stock by decreasing the number of authorized shares of common stock and correspondingly decreasing the number of issued and outstanding shares of the common stock held by each stockholder of record at the effective date and time of the change, by a resolution adopted by the board of directors, without obtaining the approval of the stockholders. The effective date of the change (20:1 reverse split) shall be as soon as practical following October 4, 2012 and after proper notice and coordination with FINRA.
"Fathom the hypocrisy of a government that requires every citizen to prove they are insured... but not everyone must prove they are a citizen."
Now add this, "Many of those who refuse, or are unable, to prove they are citizens will receive free insurance paid for by those who are forced to buy insurance because they are citizens."
PRTN: Mailer claims 776% returns. Budget of $960,000 but company has no cash and only $11,000 in assets. Beverly Hills address. No revenues. Market cap. of $200,000,000. Stock traded $3,000,000 in volume each of first two days. No substance on paper.
This is wrong.
Auditor/Accountant
Dennis Atkins, CPA, PC
6175 Plumtree Lane
Edmond, FL, 73034
United States
Enviroxtract, Inc
6175 Plumtree Lane, Edmond OK 73034-9538
Verify on Google Earth
http://www.city-data.com/city/Edmond-Oklahoma.html
What gets me is the Chicago teachers had the balls to strike when they are already making over $70K a year with 2-3 months off during the summer plus numerous paid holidays.
And the graduation rate is pathetic showing they are failing to teach!
INSANITY IN ILLINOIS - and look at the date of this report. Why didn't they see the problem five years ago?? A lot of these guys have already retired and are sucking the system dry!
Meet Neil Codell an Illinois educator with a $26 million state pension.
Look for 'Codell, Neil C' -- 4th from the top of the list. His estimated career pension is $26,661,604. That's almost $27 million for a single administrator within just one local Illinois school system (Niles, to be exact).
Read about his benefits package http://sunshinereview.org/index.php/Niles_Township_Community_High_School_District_219,_Illinois
On February 2, 2009 the Chicago Sun-Times reported that Niles Township school superintendent Neil Codell was paid $411,500 in 2008, a record for the state of Illinois. Codell took a lesser job in the school district on June 30, 2008, but did not receive a pay decrease. In fact, Codell's contract, signed in January 2005, set his base salary at $182,500 with the option of two 20 percent raises before he retired. Also covered are 100 percent of hospitalization and major medical premiums for his entire family for 10 years after retirement, as well as $500-a-month auto allowance and a term life insurance policy for twice his salary for as long as he was employed at the school district. The Sun-Times filed an Illinois Freedom of Information Act request to inquire how Codell's salary moved from $182,500 to $411,500, but did not receive a response.
Read more: http://sunshinereview.org/index.php/Niles_Township_Community_High_School_District_219,_Illinois#ixzz27E7dPzOg
$887,925,790.00
You read this right. The top 100 retirees, by themselves, will cost Illinois taxpayers nearly one billion dollars.
---
More detail: Source
While the California teachers' unions are effectively destroying one school system after another, an alert commenter pointed me to some even more shocking news from Illinois. Their pension system for educators is -- if you can believe it -- even farther off the reservation.
Using actuarial calculations from the Teachers' Retirement System (TRS), Champion News reports that the total estimated pension liability for the top 100 retirees will equal...
Rod told me what he had been told by MARCUM. It is not possible for him to control another company nor is it possible for him to control a government agency.
I am hoping that the SAS Review was approved on Friday thus removing the E. We will know on Monday.
Hi Bruce, thanks for the alert on your new board. Looks like it is going to be a winner. Board Marked!
Lmcat
Copper extends 15% gain since August as market swings into huge deficit
Frik Els | September 21, 2012
On Friday spot copper was up again at $3.79 a pound in early afternoon dealings in New York – a 15% improvement just since the beginning of August – after a new report by the International Copper Study Group showed the market for the red metal swung into a substantial deficit during the first half of 2012.
According to ICSG, the refined copper market balance for the first half 2012 indicates a seasonally adjusted deficit of 292,000 tonnes (473,000 tonne deficit when not taking into account seasonal factors). This compared with a surplus of 56,000 tonnes during the same period last year.
Previously ICGS predicted a shortfall of 237,000 tonnes for the entire 2012. This H1 figure is also much higher than previous estimated by the World Bureau of Metals Statistics which in its analysis calculated a 129,000 tonne deficit.
Supply in the global copper market has long been tight and is getting tighter. Primary mine production grew just 2.4% in H1 2012, but global usage expanded 7.3%, mainly thanks to Chinese imports which ICGS notes could be a factor of stockpiling not actual usage.
Copper's recovery from year lows over the summer also comes on the back of renewed hopes the Chinese government's $157 billion infrastructure programmes will boost demand.
World annual refined copper usage has increased by 31% over the last decade from 15.2 million tonnes to 19.9 million tonnes almost entirely on the back of increased Chinese consumption. The country's usage shot up 185% and China consumes 43% of the global supply of the red metal currently. That's up from 18% in 2002.
http://www.mining.com/copper-extends-15-gain-since-august-as-market-swings-into-huge-deficit-90429/?utm_source=digest-en-mining-120921&utm_medium=email&utm_campaign=digest
Copper extends 15% gain since August as market swings into huge deficit
| September 21, 2012
On Friday spot copper was up again at $3.79 a pound in early afternoon dealings in New York – a 15% improvement just since the beginning of August – after a new report by the International Copper Study Group showed the market for the red metal swung into a substantial deficit during the first half of 2012.
According to ICSG, the refined copper market balance for the first half 2012 indicates a seasonally adjusted deficit of 292,000 tonnes (473,000 tonne deficit when not taking into account seasonal factors). This compared with a surplus of 56,000 tonnes during the same period last year.
Previously ICGS predicted a shortfall of 237,000 tonnes for the entire 2012. This H1 figure is also much higher than previous estimated by the World Bureau of Metals Statistics which in its analysis calculated a 129,000 tonne deficit.
Supply in the global copper market has long been tight and is getting tighter. Primary mine production grew just 2.4% in H1 2012, but global usage expanded 7.3%, mainly thanks to Chinese imports which ICGS notes could be a factor of stockpiling not actual usage.
Copper's recovery from year lows over the summer also comes on the back of renewed hopes the Chinese government's $157 billion infrastructure programmes will boost demand.
World annual refined copper usage has increased by 31% over the last decade from 15.2 million tonnes to 19.9 million tonnes almost entirely on the back of increased Chinese consumption. The country's usage shot up 185% and China consumes 43% of the global supply of the red metal currently. That's up from 18% in 2002.
http://www.mining.com/copper-extends-15-gain-since-august-as-market-swings-into-huge-deficit-90429/?utm_source=digest-en-mining-120921&utm_medium=email&utm_campaign=digest