Where is CGFIA going to get $200,000.00 per year to honor this contract, when they have no income. I see where CGFIA is getting the $20,000.00 per month to pay Guyer, it is in stock. According to an October 6 filing Guyer now owns 73,894,064 shares. It appears that he intends to own the company, if it stays solvent that long. I'm betting that he is hoping to sell the company befort the bills come due. It isn't like the federal government, where they can print the money. I followed my advice to go to EVRM and have better than doubled my money. Marvin
LAKEWOOD, CO -- (Marketwire) -- 10/06/09 -- Colorado Goldfields Inc. (OTCBB: CGFIA) is pleased to announce that the Company has completed execution of a Mining Lease with Option to Purchase Agreement for the Brooklyn Mine in San Juan County, Colorado. The terms of the agreement include the issuance of 75,000,000 restricted shares of Class A common stock in Colorado Goldfields restricted in a lock up for a period of 3 years during which no sales or other conveyances may be undertaken, a work commitment averaging $200,000 per year, and a 5% Net Smelter Royalty. The lease automatically renews so long as ores, minerals, or metals are being produced or sold.
1.Title of Security
(Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8) 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 10/05/2009 A 16,412,500 (1) A $ 0.0031 73,894,064
AI
