Previous claim in Mid July by CSCA; 'No basis' for claims by mining company. Investors rushed in, now told estimates unfounded.
Rami Grunbaum, Editor Seattle.bizjournals.com Cascade Mountain Mining Co. Inc. caught some investors' attention in mid-July by announcing it owned Washington state mining claims with a "potential dollar value of $1.5 billion."
Its "Mazama Project," said the previously unknown Seattle company, "could produce 2 billion pounds of copper, 150,000 ounces of gold, 750,000 ounces of silver, and 6 million pounds of molybdenum."
Last week, however, the company admitted "it has no basis" for that projection, or for many other statements made during a monthlong publicity spree.....................
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