Not out of the question. look what they have. this is gem.IMHO
****OS 275mil ****Float is around 35mil (after excluding preferred/restricted) ****TA is Heritage @ 416-364-9509 Share info provided by CEO on 05/16/2006
****Per CEO: Company is not diluting nor do they have a CD. CEO is currently self funding operations.
****IMO, reason for drop in PPS: Equitable Mining Corp Announces new Stock Symbol EQBM Toronto – Tuesday September 27, 2005 – Equitable Mining Corp. announces the change of its symbol to EQBM on PinkSheets.com The company changed its name on August 16, 2005 from The Equitable Life Investments Company Inc. to Equitable Mining Corp. to better reflect its focus on mining. In addition the company redomiciled from the Province of Ontario to the State of Wyoming. On August 22, 2005 majority of the shareholders and the directors agreed to reverse split the issued and outstanding Common Shares by twenty (20) to one (1). All new issue for the purpose of rounding up to cover beneficial shareholders due to the reverse split was also approved.
****Per CEO: We should have a press release regarding the following acquisition within a few weeks (lawyers are working on translating all documents for final signatures)
EQBM -- Equitable Mining Corp. COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES: Equitable Mining Corp. Announces Memorandum of Understanding with D.A.K. to Acquire Precious Metals Mining Project in Dalian, China with Projected Annual Revenues of $19.2 Million
Significant Deposits of Gold, Platinum, Palladium, Rhodium and Copper Identified
TORONTO, March 1, 2006 /PRNewswire-FirstCall via COMTEX/ -- Equitable Mining Corporation (Pink Sheets: EQBM - News), a growing company focused on finding, acquiring and extracting gold and other mineral reserves worldwide, announced the completion of a memorandum of understanding with D.A.K., a privately owned Chinese resource corporation held by H.M.H. of Hong Kong, to acquire a precious metals mining project in Dalian, China. Once the due diligence is completed and agreements are signed Equitable Mining Corp. will own 35% of all operations and mineral rights. Significant deposits of gold, platinum, palladium, rhodium and copper have been identified in the mine and mine tailings and monthly revenues of $1.6 million and annual revenues of $19.2 million are projected.
The Dalian acquisition covers the mineral rights to 220,000 square meters of land leased from the government for 25 years and includes 5.2 million tons of mine tailings plus infrastructure in place including roads, electricity, water, fencing, storm sewer, transportation and one production line. To date $7 million has been invested in the project by H.M.H. and D.A.K. Once the acquisition is complete Equitable Mining Corp. plans to increase production to three lines within the first eight months. The company will utilize D.A.K.'s environmentally friendly leaching process to extract the mineral deposits.
"Signing a memorandum of understanding with D.A.K to acquire the Dalian project is a major accomplishment with highly promising prospects for our company," said Wayne Reid, a Director of Equitable Mining Corp. "Commitments for the first transaction phase have been received and we are traveling to the site later this month for further due diligence. We are very excited about this transaction...."
In addition to the Dalian project Equitable Mining Corp. has been acquiring mining properties in North and South America. The company recently announced the purchase of its Bonanza Property in Ontario, Canada's historically prolific Red Lake Gold Camp. More than 25 million ounces of gold have been produced in Red Lake since 1935. Equitable's Bonanza Property consists of 14 claims adjacent to Goldcorp's Red Lake Mine, which produces 550,000+ ounces annually and is one of the richest, most profitable gold mines in the world. Red Lake Mine contains the world-renown High Grade Zone with 4.4 million ounces of high grade gold reserves.
Recently Goldcorp purchased 10% of neighboring Wolfden Resources for $3.60 CDN a share, a total of $18.5 million USD, in part due to its drilling activity on the Bonanza-Follansbee project which is directly adjacent to the properties owned by Equitable Mining Corp. In December Placer Dome Inc., whose 210,000 ounce-producing Campbell Mine is located nearby in Red Lake Camp, announced that exploration drilling confirmed the extension of Goldcorp's High Grade Zone into neighboring Campbell Mine. Equitable Mining owns claims adjacent to Red Lake Mine, Campbell Mine and the newly acquired Wolfden claims.
Equitable Mining recently assembled an international acquisition team to target high-yield mining projects in mineral-rich areas of North America, Latin America and Australasia. With joint-venture partner Atlantis Acquisition 1, the company announced it is close to closing on its first South American precious metals project in Colombia, where striking test results indicate confirmed deposits of a rich gold-copper-silver. The company has also entered into discussions around an additional group of claims in Northern Ontario and other North American locations....
****On April 11, 2005, the company acquired the following property:
Equitable Life Investments Announces Purchase Agreement with EMCO Corporation Monday April 11, 2005 3:02 am ET
Purchase of 10 Claims in Dome Township, Red Lake Mining District TORONTO--(BUSINESS WIRE)--April 11, 2005--Equitable Life Investments (Pink Sheets:EQLFF.PK - News) is pleased to announce the purchase of 10 claims in Dome Township, Red Lake mining district. These claims border on the south of Gold Corp. claims and west and south of Wolf Den's claims. Wolf Den's Drill Programs have completed 6 holes with multiple holes having visible gold.
Wolf Den has now expanded its drill program to three drill rigs. The strike of the formation towards equitable claims, Wolf Den (TSX:WLF - News) states that the geological setting is very similar to that at Gold Corp. Red Lake Mine (3 miles east) and Placer Dome Campbell Mine (3km east). Equitable has retained the engineering firm Clark Exploration Consulting Inc to give a 43101 report and management feels that said report should show 300,000 plus tons of .20au gold. Said report should be completed and filed within 30 days.
****Per September 27, 2005 PR, the property was described as such:
The property consists of twelve unpatented claims and 2 patented claims (KRL 11325 and KRL 11442), with a total area of approximately 355 hectares. They are adjacent to properties owned by Wolfden Resources that have identified significant gold mineralization.
**** Per my conversation with CEO, the company had a setback earlier this year when they were unable to begin mining on the Red Lake property due to weather conditions. The area had an unusually warm winter and the ground was too soft for ground equipment to be used. The company has recently obtained the use of a barge equipped with drilling equipment and they plan to begin drilling operations in June of this year. Also, the company is in the process of closing on a mining property in Ecuador that already has proven reserves.
News 
Market Data 
Discover 
AI
