dusty, this will answer your question.
Two things about this post of October 5th from the races.
1) Next to Mach's, this post also has some of it's content which has remarkably come true this month. I never perceived the Ecuador mine opportunity and remember reading this when it was posted being more skeptical than sure. Well not only has that happened, but we have a 3:1 split to boot. If the remainder of the content that points to our very near future is also accurate...let's just say there will be another party soon and I'll be there with bells on.
2) The answer to your question about the $10 million from SGGM is a few paragraphs down in this post. It reveals the source indirectly of this venture money.
I know it's from the races, so take it for what it's worth. However the accuracy of the Ecuador venture and other events around UCAD (ticker at the time) certainly came true.
Bo
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Freedom's report from the races
Posted: Tue Oct 05, 2004 1:09 am
Ed Miller
Now here is a man who knows CMKX and seems very confident in the stock. Most of what he shared with me were based on conversations Ed Dhonau had with him and other shareholders at the Dallas race.
He confirmed that Dhonau started and owns the majority of UCAD. He said that Dhonau is the deep pockets money behind this whole deal with CMKX. Apparently Dhonau comes from the Valvoline family as in Valvoline Oil. Ed said at age 22 he walked in and fired the CEO and took over. He also said Dhonau was in college at age 14. While Jose said that CMKX is central to everything that is happening Ed said that Dhonau’s the money and is calling the shots. . He said that UC and Dhonau have a close friendship and that he was the single largest shareholder of CMKX…with his own private money, not including Nevada Minerals. He said he thought his position must be huge and was surprised that Green Baron wasn’t the single largest shareholder!
He said that UCAD management was in Ecuador during the race weekend looking at picking up a ‘few’ goldmines. He said all the mines were actively producing. He said the Dhonau began picking up goldmines because he wanted CMKX to have a revenue stream now, not when the Canada properties started producing. He said they had picked up one mine for a song, $60,000 dollars. Damn, I could’ve gotten financed for that. One thing Ed brings to the table is connections. Apparently this guys is networked worldwide including with the Ecuadorian government. He also said miners in Ecuador usually make $70 a month and that Dhonau opted to pay them $140 a month. He said that when these guys go back to their villages they live like kings. Miners in that country are already considered to be highly paid and with Dhonau they make double.
Regarding UCAD itself he said the Rachael property is really about the processing plant. He said that they have mining companies lining up already. UCAD keeps 11% of whatever they process and that’s incentive to the whole deal.
He said that there will be no merger between UCAD and CMKX and that they won’t touch us with the present share structure. He wouldn’t elaborate on precisely what that meant. He did say that CMKX would have to be fully reporting for a year first.
He also said the Rendall told him the next move for UCAD is to the NASDAQ and that this process is in the works. He thought that UCAD has the a potential to be a $30 stock. He stated CMKX’s next stop was the OTCBB.
Regarding the O/S he said that companies can base the divi’s on whatever they want, the O/S, the A/S, the float. They can give it to you and not me, whatever. He also thought that it was possible that they had already filed and were presently waiting for SEC approval so keep an eye on Edgar. He said that the history part of the financial had been completed ( the most extensive piece) and they were now working on present day financials. He also said that U.S. law prevents mining companies from including in there valuation minerals that are still in the ground. They can include things like trees and potash. Canadian owned companies can include minerals in there valuations. He said that he felt there was definitely a NSS situation as did Jose. They both anticipate a short squeeze and talked about selling 10% through the squeeze and going long on the rest as one possible scenario. He said that according to Dhonau a r/s was not an issue and to make the point he said they wouldn’t even consider doing one below .10 cents.
He said that the 10 million was from an investor from outside the companies involved based in Nevada. He said that UC worked out a deal with the head of SGGM to get Vicki Curran the job. Finally he said he believed that DeBeers was very very interested in buying us and ultimately they would. He said UC wouldn’t even talk to them and that he really doesn’t like them but the not talking to them was a strategy to increase the potential money for any future deal.
There was a phrase going around the races that I heard from Jose, Ed Miller, New York Joe (great guy and seemed to be in the know and was also a New York fireman). Whenever the topic of the Las Vegas party would come up they would look at you with a knowing smiles and say, “Just go.” And if you anyone offered any kinds of yea but’s or questions they smile a little bigger and say “Just GO.” New York Joe also assured me that he’d see me there. (LOL) It’s open to interpretation because that is the way if was left. They also said that they had a big announcement to make at the party and that Roger Glenn would be speaking as well.
Finally, when I was talking to Ed Miller, who again was basing most of what he told me off conversations he had with Ed Dhonau, he said that the GEMM dividend had not been exercised. He did however say that it had been extended. Reportedly, UC wants to wait and see what happens with Juina. It is possible he may not want to end up owning more of it. Apparently they are still having difficulties with the Ecuadorian government. Sounds like a wise and prudent move IMO. It also suggests that we can’t rule out that GEMM dividend just yet and would also explain why they bumped it back a full 6 weeks.
That’s it guys. Best of luck to all of us!
Oh yea and “Just go.”
Freedom
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We know this thing has wings, it's time to let it fly!
