Actually we have heard from Goldlake back when the deal was struck. I found this article on Soltera's supply of gold to Goldlake in Il Sole 24 Ore )a major financial magazine in Italy). I translated via Google so not perfect English but the message is clear: Goldlake expect to supply Cartier a minimum of 300kg from El Torno in 2011 (approx. 10,000 oz) Which means US$12M profit if cost is $200/oz which is likely high considering the ease of working the eluvial deposit. $1M per month profit in 2011 - not bad for a 10 cent stock.
Colaiacovo and the NASDAQ Gold Rush
From Concrete to Nugets: The family from Eugubini
heads for control of Soltera Mining
Imagine the gold among the green hills of Umbria is very unlikely. In fact, even the shadow of a bar (of truffles as large nuggets, though, at will). But the family Colaiacovo, the third largest cement producer in Italy (behind Pesenti and Caltagirone) and the main economic and financial groups in the region, from Gubbio is playing to win gold in the Nasdaq.
Goldlake, a small mining company founded by Giuseppe Colaiacovo ethical gold and lead, having seduced the big world of luxury Cartier (who sells his precious yellow nuggets), now the conquest Soltera Mining. On Friday night, quietly, the SEC has filed a filing reveals that the terms of an operation that projects the Colaiacovo from the Apennines in Times Square. Goldlake has targeted its equivalent from an international pedigree: a maxi-alluvial deposits of gold from 4,800 hectares of concessions, 4 thousand meters of altitude in the northwestern border of Argentina, the company headquarters in Nevada and listing on the Nasdaq (with a secondary listing in Frankfurt). But with an investment of $1.5 million, the largest shareholder Colaiacovo, comes to hold 40% of the company. A move which Goldlake tripled its size in terms of extraction capacity (they now produce 150 kilograms per year).
Goldlake, we learn from the documents of the American Sec perform three capital increases to boost the production of Soltera and restructure the company's debt. The first 300 thousand dollars will be paid by the end of the month and will serve to keep the grant of the government of Buenos Aires. Joseph, the most dynamic of the second generation of Colaiacovo who have built around the Colacem, a financial-industrial empire (express CariPerugia Foundation President and former shareholders of strong business in the days of Cesare Geronzi, now hold a 0.2% of UniCredit, which is worth 50 million euro), is the scion of the reporting in the salons and high finance: personal friend of Matteo Arpe, Joseph was an independent director of Snam Rete Gas and sat on the board of MCC, the merchant bank Capitalia. The holding company, Gold, which has nothing to do with the gold but it is an acronym for the names of a branch of the family, is one of the underwriters House, Made in Italy of the fund set up by Matteo di Montezemolo and Diego della Valle, and is a member of Nextrend, the patron of fund innovative Technogym Nerio Alessandri. Some years ago, Gold has started to diversify from the concrete (because the Dynasty family there have been frictions and fissures in the past) and investing in Honduras, where Colaicovo bought a mine, was born Goldlake.
In addition to creating the first and only country with a mining company, ironically, the total amount and leaving a city famous for its monuments, but marginal and isolated in the economic landscape, Colaiacovo has focused on innovation ethical gold. The metal in question is not extracted from mines exploiting children or minors, but from fields where there is no river spoils the environment and do not use harmful chemicals to workers. For this the Parisian goldsmith maison Goldlake chose as a supplier. If all goes well, there is an ongoing due diligence to verify that the gold is of quality and production standards in line with the Italians, one million ounces from Argentina will take the route of Arezzo (where Goldlake, in joint venture Italpreziosi with, works with the gold). The next step could be the merger of two companies: the SMEs Umbria game you would see listed on hi-tech America. Together with Microsoft, Google and Apple.
