Jammasrerflint I'll answer your questions as best as I can.
"Does ACRL have Cobalt or not?"
ACRL has a grass roots property near Cobalt, Ontario. They have found a few grab samples (grab samples are not scientific: they are random-a geologist or prospector pick up the 'shiniest' material off the ground then assay them) which assayed for Cobalt. However, to find if they have a Cobalt deposit, which they or a JV partner could mine, ACRL would have to execute an exploration plan to drill a number of holes on the property, assay the core and have a geologist write up a 43-101 document. The costs would be in the neighbourhood of $250k to millions of dollars. So to answer your question: at this time ACRL has no Cobalt deposit reserves or even a geological report only a few random Cobalt grab samples.
"Is there a $100k lien on the property"
ACRL owes over $100k to the original driller that drilled 2 300 metre holes three years ago that were unsuccessful. ACRL acquired the property before drilling it, obviously. It is common practice for drillers in Northern Ontario to place a lien on the property they worked on for unpaid bills. No contractor could work on the property till the lien is settled. I don't know whether or not the driller has placed a lien on the property.
The good news is I would imagine that after three years the driller would take a large discount on the bill: my guess is 30% or perhaps even less.
"Will ACRL really becoming current soon"
I phoned MR. Grant 14 months ago to ask him that question. He promptly told me the audited statements will make the company current in the next two weeks. Of course, that never happened. Since then the company has promised unaudited statements soon as they can't afford audited ones. Unaudited statements won't lift the Cease Trade Order in Canada. Will ACRL be current soon with unaudited statements? I don't know.
"Only $65k in assets really"
According to the last ACRL reported financials ACRL had $65k in assets and $1.5 MM in liabilities. I expect the next ACRL financial report for the assets to become less and the liabilities to expand. That's just my guess.
"Is ACRL real or fake"
The ACRL management , in my opinion , are a joke. Its ok if a manager doesn't know much about mineral exploration cause he can hire a geologist to guide management. But Mr. Grant and the ACRL think they know everything and their PR's and their'Ramblings" which they write themselves are not scientific, not credible and scare off investors who look for professional management. For example, Glen talking about a 1930 drill holes on the property cannot be verified (no archival core has survived to re test). If one wants to attract real capital one needs a QP (Qualified Person-a geologist) writing their PR's and producing reports on the work done on the property. ACRL has no money, no partner, and no room on their Authorised to raise capital.
I have been working in the mineral exploration business since 1990, mostly in Ontario, Canada.
Hope that helps.
Have a good Sunday.
IMO.
