Prom Resources Inc (PRMO)

[laptop]

I Just Had The Prin Rib "King Cut" at tho old Horseshoe Downtown Las Vegas ( not to good ) and now I am looking for the "Head".
Perhaps when you in the Head you might read this lol >>
Is this the same company ?? I think so >intersting <
Link:
http://www.mine.mn/Placer_Stockfile_American_Benefits_Group.htm#ABFG
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American Benefits Group Inc.

American Benefits Group (ABFG:OTC-BB) - emerald and sapphire supplier, now also miner of alluvial sapphire placers in Madagascar.

American Benefits Group (ABFG:OTC-BB)


American Benefits Group Inc is Florida USA-based, originated as an emerald and sapphire supplier, now attempting to embark upon sapphire mining.

In Madagascar American Benefits Group purchased the majority shares of other mining companies that own more than 35 sapphire concessions. Then in 1999 the Menavi Group of Companies in Ramat Gan, Israel, internationally known for its gem cutting technology, joined with American Benefits Group to form Total Gem Management Ltd and ABFG acquired Stones & Wood Corporation SARL, a Madagascar-based sapphire mining operation for $4m. Thus the American Benefits Group may be able to control major quantities of sapphires in the world market. Total Gem Management sorts, cuts, polishes and market the sapphires.

All gem-quality corundum that is not red is called a sapphire, and red corundum is known as ruby. Sapphires can be blue, orange, yellow, violet, green, white and pink, but unless a color is stated, a sapphire is assumed to be blue.

In Madagascar American Benefits Group is seeking to explore and develop its corundum and beryl mining properties. The company is undertaking test mining placer sapphires by excavating clayey placer (colluvial and alluvial) and washing in a trommel to produce a slurry that is screened off at 2-inch to remove rocks, boulders and clayey lumps. Rejected rocks are inspected for embedded gems. The screened-off slurry is pumped to jigs to separate the precious stones, while wastewater slurry flows into a tailing pond for recycling after settling for re-use in the trommel. At the end of each shift, the stones are emptied from the jigs under security supervision and weighed and recorded. Sorted stones are put on a light table and through a second stage sorting process where stones are characterised by type and grade. The sorted stones are recorded and locked in a special lock box for shipment.

During the heady days of dot.coms, the American Benefits Group planned to process the raw stones, varying in color and quality, and bring them to both the wholesale and retail market via direct sales and an e-commerce 3D shopping mall, RodeoIsland.com.

In Madagascar problems have arisen when American Benefits Group attempted to assert control of its sapphire placer concessions - a public notice in the Madagascar daily newspaper MIDI on 13th March 2001 stated that foreign impostors were using the name of the company Stones & Wood Corporation and were pretending to be the owners of mining properties in Northern Anivorano.

The American Benefits Group received adverse comment from stockpatrol.com because the RodeoIsland.com shopping mall failed to impress and is rather small; and attempts to diversify into web-TV also seems ill-advised. Attention is drawn by Stockpatrol to the extraordinary vagueness of the company's Media Releases, making it unclear if ABFG is actually engaged in anything more than test mining, and the company has not filed enough financial statements to allow any serious estimation of its viability, nor made clear its relationship with the Menavi Group.

ABFG brought a remarkable lawsuit in a USA Federal Court in July 2001 claiming that the Securities & Exchange Commission (SEC) and NASD had violated the Company’s rights under the 5th and 14th Amendments to the USA Constitution. The Court refused ABFG’s request for a Temporary Restraining Order which would have prevented the NASD from delisting ABFG stock from the OTC Bulletin Board. A hearing was scheduled for mid-July but ABFG shares are no longer quoted on the OTC Bulletin Board. Instead, share prices are only on the 'Pink Sheets', a listing of stock quotations (usually on pink paper) circulated among market makers and brokers. 'Pink Sheets' are not an electronic quotation system, and so are not easy to access – or to verify.





Copyright © 2000, 2001, 2002, 2003
Eco-Minex International Co Ltd, Ulaanbaatar
Last modified: August 24, 2002
Link:
http://www.mine.mn/Placer_Stockfile_1_USA_OTC.htm