GNCC Capital Inc (GNCP)

[Eli's Gone]

The problems here are not whether claims are patented or unpatented...

Patented claims are those deeded by the gov't to the claimholder--making the claim private land. Hasn't happened since 1994. The claimholder has rights to all minerals in addition to owning the land. He has surface rights wherein he can build on said claims and live there.

Unpatented claims are on federal land---the claimholder only has rights to the minerals---he does not own the land, has no surface rights, and cannot build anything on it not related to mining---he cannot live on it

There are plenty of unpatented claims out there worth a fortune (and saleable) if a mineral discovery has been made on said claim---and are currently being mined by claim owners

Problems:

GNCP is renting unpatented mining claims--the only value would be from a mineral discovery.


they rent the claims from a 3rd party---the mineral rights belong to the claimholder

in order to have a single cent of value, they would need to:
a. explore (various studies, drilling, etc)
b. make a discovery
c. perform a feasibility study
d. obtain title from claimholder
***not to mention the permitting process of all of the above and the vast amount of money entailed

none of the above has happened in the decade they have dumped shares using the same transparent playbook

so, let's have an extraordinary meeting (to decide something that was supposedly decided months ago) to sell something they don't own...

divy???--how many carrots can a man eat