I wonder how Reynolds and Nicholson are fairing on their new Sc...venture...X2M Strategics. As you may know, the X2M 'Land Claim' was in fact identical to Fencemaker but Silver Bell wouldn't grant them a new Lease due to previous 'complications' and other dubious issues when FLPC started.
X2M'S Map of 'their' Mine actually isn't, so they need to find more land unless Silver Bell decides to draw up a new contract with X2M which is highly unlikely!
I have been in touch with Silver Bell for years and between them and me, we have discussed lease T's & C's which doesn't remotely favour X2 unless (Unlike FLPC) stump up loads of cash under a very strict agreement that can only do Silver Bell good, but not X2 which is essentially a similar company to FLPC with the same idea but "Restructured"...that was the FLPC "Restructuring" program, to shift 'the business' with at least two directors to another location.
I'm no Legal Eagle, but I saved Silver Bell thousands in Atourney fees by assisting with the basics of a new lease to X2 should it have been necessary. FLPC approached Silver Bell for Contract Renewal, but as the terms favoured Silver Bell in very respect, FLPC either had to pay up or decline... it was declined, so FLPC couldn't continue 'trading'. Besides, they were blocked by the SEC for many reasons so no shares could be traded anyway. It was like it for years.
As yet, X2M doesn't trade Minerals and exists by name only...just like FLPC did! Don Nicholson being chief cook and bottle washer! He had fingers in many pies...some which were 'dissolved by design'.
Most of the cash was (Allegedly) 'moved' to start this new company which is one reason why FLPC owed so much as it used existing 'spare' funds for their so-called new venture!...Allegedly!! This is why they quit owing millions of Dollars A lot was paid overtime to the directors in 'Consultancy fees' and 'general running costs', all very well engineered...but we can't see EXACTLY where it ALL went as they never submitted ANY filings with the details...LOL. A very crafty well planned move at the expense of the Shareholders...at the last count, there were less than 60, by FLPC. Run by very shrewd and knowledgeable Directors...who deserve to be taken to task, but it won't happen as it's all 'Small Beer'?
Best wishes CE.
