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Re: parrot head post# 108866

Tuesday, 03/23/2010 10:27:13 AM

Tuesday, March 23, 2010 10:27:13 AM

Post# of 221984
We are waiting for the update, MoneyMan. The March 19th deadline was not formally extended for the potential bidder, but they were given a few more days. Also, so it is clear, the deadline for the actual gold deal is 4/30 as set by the Loan Note Holders.

I think it's happening before that day but just my guess and hope.

At this point, we are waiting for the gold deal or maybe the Alternate Proposal.

Either way, it sounds good to me!

V

2. The Company' Management and its Advisors have expended significant time and financial resources in and during the past two months upon a fairly complex proposal (hereinafter referred to as "the alternative proposal"); the purpose of which was designed to maximize and to safeguard stockholder value in the event of your Company not being prepared to the accept an immediate or unsatisfactory offer for its Gold Interests. This alternative proposal was formally accepted on late Tuesday March 2, 2010 by the Company's Management, it's Advisors, Company Loan Note Holders, Searchlight Exploration, LLC and the substantial minority stockholders in both the "Bouse" And "South
Copperstone" Gold Properties.


4. Stockholders are advised that acceptance of this alternative proposal could well result in an immediate bid for the Company without any further or advance notice to stockholders. The Company's Management is acutely aware of the alleged criminal activities of third parties who actively and aggressively seek to cause irreparable to the Company, its stockholders and its stock price. The implementation of the alternative proposal failing which, the acceptance of the Purchase Offer will now without doubt ensure significant financial losses to those who may have acted in an unlawful activities in (a) the short selling or (b) The Naked Short Selling in their trading in the shares of the Company's Common Stock and/or (c) be or have been engaged in malicious, illegal,defamatory or harmful activities on Internet Stock Chat Forums which were planned, calculated, premeditated and designed to cause irreparable financial harm to the Company, its Officers and its Stockholders . Their actions have already caused severe but yet financially unquantified damage to the Company, its Stock Price and to its Stockholders. The Company in consultation with its stockholders may result in the bring about of a suitable and just Lawsuit which will seek to redress and/or obtain compensation from a Competent Court, these actions being considered and based upon recent successful Civil Judgments being awarded to Issuers under the same circumstances as the Company faces at this time. We choose not to comment any further at this time as the now proven illegal activities having being carried out by these influential Internet Stock Chat Forums have resulted in admissions of guilt with sentencing of their crimes to be determined.

5. The Company wishes to stress that this alternative proposal will only be implemented should the Bidder for the Company's Gold Interests not meet the imposed time deadline as aforesaid. Should the Bidder formally advise the Company that it is unable to meet this deadline prior to the aforesaid date and time; the alternative proposal will be accepted by the Company and implemented without delay.



The Company's Management confirms and reiterates that as per its previous statements, it will not consider nor accept a bid for the Company's Gold Interests; that equates to a price of less than US$0.003 per share of the Company's Common Stock. We are not at this time prepared to elaborate any further on the pricing on these transactions; given the now very limited timing and extreme sensitivity of these negotiations. This will and may well change; and very rapidly in the event of our deciding to implement the alternative proposal.

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