Summary of our mineral claims - 3/21/05
from cmkxdiamond.proboards32.com
« Thread started on: Today at 02:58:25 »
For some time, I’ve been wondering just how "our" mineral claims play out, including how many of our original mineral claims are still part of CMKM’s assets. You may remember that a Mineral Rights Agreement was signed on November 25, 2002 which gave CMKM the rights to mineral claims held at that time by Urban and a few of his pals. Those claims were detailed in a report by Robertshaw Geophysics which was attached to the Rights Agreement. The claims totaled 247,708 hectares (~ 612,100 acres) and are included here for reference:
Buckshot/Commando - 318 claims - 78,177 hectares (~ 193,180 acres)
Morgain Minerals - 36 claims - 9,216 hectares (~ 22,773 acres)
101010307 Sask, Ltd. - 142 claims - 70,427 hectares (~ 174,029 acres)
101012190 Sask, Ltd. - 106 claims - 81,568 hectares (~ 201,558 acres)
101027101 Sask, Ltd. - 34 claims - 8,320 hectares (~ 20,559 acres)
All of these claims have since lapsed and are no longer assets of CMKM unless there’s a secret agreement we’re not aware of (anything's possible, but this one's unlikely IMHO). These lapsed claims were picked up by two entities: 101047025 Sask, Ltd. (in the name of Emerson Koch, an old friend of Urban’s) and Nevada Minerals (in which we have a 60% interest). The claims were recorded between August ’03 and January ’04 by 101047025 and in August ’04 by Nevada Minerals, respectively.
I have read the Fast Track Learning Center and Hall of Fame forums from front to back, and I couldn’t find any detail as far as the actual claims that were held by CMKM and those that are held by the five current numbered partnerships plus Nevada Minerals. I sorted the entire claims database from the Sask Web site and tracked it claim by claim on the claims map from that Web site. Everything matched perfectly, so I believe the following is accurate.
If this information has already been published, I apologize for the duplication. I've done the area calculations in both hectares and acres so it's easy to refer to previous mining reports (usually in hectares) and PR's (usually in acres). Here is the summary of what happened to the “old” claims originally held by CMKM as well as the current holdings of the five numbered partnerships with Nevada Minerals and United Carina noted in the last two columns:
Claimholder Nevada United
101012190 101023310 101047025 101050803 101053292 Total Minerals Carina
Hectares
101010307 (old):
70427 70427
101012190 (old):
81426 81426
101027101 (old):
8320
Buck/Comm (old):
77953 77953
Morgain (old):
9216
New:
17555 12062 155442 62274 88310 335643 114772 35800
Total:
17555 12062 385248 62274 88310 565449 132308 35800
Acres
101010307 (old):
174029 174029
101012190 (old):
201208 201208
101027101 (old):
20559
Buck/Comm (old):
192626 192626
Morgain (old):
22773
New:
43379 29806 384106 153882 218219 829392 283608 88464
Total:
43379 29806 951969 153882 218219 1397255 326940 88464
60% of Nevada Minerals:
196164
50% of United Carina:
44232
Grand Total:
1637651 acres
You’ll notice that the total acreage excluding our interests in Nevada Minerals and United Carina is approximately 1.4 million acres which correlates with the number that the CMKM Web site mentions. The grand total comes to about 1.6 million acres, and since the “old” claims account for 612,100 acres, that means that subsequent claims of approximately 1,000,000 acres have been recorded. This number is reasonably consistent with the PR’s of the last 18 months and includes two joint claims: 60% of 500,000 acres held by Nevada Minerals and 50% of 35,800 acres held by United Carina. The only inconsistency is that Nevada Minerals currently only holds claims on 327,000 (not 500,000) acres according to the Sask database which suggests that Nevada Minerals has either let some claims lapse or has sold them to another entity, possibly one or more of the numbered partnerships.
There seems to be a general feeling that all of the numbered partnerships held in Emerson Koch’s name are for the benefit of CMKM (or whatever entity emerges after the dust settles). It remains to be seen how/if Urban will live up to his perceived image as a “man for all shareholders”, especially if CMKM runs afoul of the SEC in the upcoming hearing. So, let’s hope that’s not the outcome.
Comments?
