Universal Apparel and Textile Co. (DKGR)

[B_L_S_H]

OK, so in November they were nearly good to go with the Jackpot Placer mine:
http://biz.yahoo.com/iw/061108/0181952.html
BLM PERMITS
Last week management was informed by Craig Parkinson, Drake's hired geologist, that the BLM permits have all been completed and the application has been sent to the state department. The approval process is normally 2-3 weeks but due to the relationship Dan Patch has with the BLM it is thought that it could be completed sooner. In addition, because existing work was performed on site years ago, the reclamation bond is expected to be much lower than expected allowing Drake to incur a lower capital expenditure.

Now, Aug 2007, the Jackpot Placer mine may no longer fit into their plans:
http://biz.yahoo.com/iw/070803/0286181.html
We have a slate of projects in the pipeline that have met or are in process of meeting the formulation criteria contained in the executive summary. The projects will be announced as it becomes competitively viable to do so. Additionally, delays with the Jackpot Placer Project are currently being evaluated to determine the project's compliance to the criteria as part of the company's comprehensive approach to project oversight.

So, after a year of waiting for permits it would seem that there will be no permits and that this project doesn't meet the stringent criteria to move forward.

OK, now that I've gotten through the cynical part of this post I do have one thought that it seems that there are too many balls in the air and that they can't get focused on doing one thing really well, initially, and building upon that. Time will tell and so far time has not been telling that great a story here.
B