NMC Inc. (fka NMCX)

[rbtree]

$500 mm sale is a sham, here's why:

1.
Since 2003, when the lease expired, NMC filed for a new one. While the application is pending, the state is allowing them to operate. However, according to MSHA records obtained, NMC has done no mining in that time..
2.
All the ore is still there.
3.
Supposed $700 k payment, made in 2003, but yet to be recorded as revenues.
4. "buyer" of ore has never been disclosed.
5. No record of any platinum sale or delivery of dore to any certified refiner.
6.
Company claims to have made an $43,000 royalty payment to the state(exact figure was given but I don't have it handy.) Actual amount received was $25,000, in three payments. My conclusion is that this was made to give the appearance of veracity to the sham ore sale.