Let me put my 2 cents in this: ZabaykalGeoProm, mining assets, Feldbush, etc.
First, how it works… There are plenty of technogenic tailings in Russia especially in Ural and Siberia regions. Those are leftovers from former Soviet Union “industrial might” when nobody was really thinking about environmental problems. Now most of former industrial giants are out of business, and you can easily get those tailings for free from local authorities with the obligation to clean up those toxic dumps… I mean “mining assets”. :-) So, the idea is: a). register tiny limited liability company ABC; b). transfer toxic dump to ABC; c). get (buy) fake estimates of precious metals content in that dump; d). sell those "billion-dollars worth" assets to stupid and gullible American investors.That was the case with Krong/Aurus, the same is here.
Feldbush Viktor Ivanovich: General Director. Used to own agricultural farm in the same region, then switched to the “mining business” located in apartment #2: http://rusceo.com/person/2136898 Feldbush tried to sell those “assets” before. Aurus was mentioned already. Here is the result of another try:
“1.2. The Parties hereby reached an Agreement to return the property accepted by the Purchaser to the Seller, due to the fact that it is not now economically feasible to process the man-made tailings, due to the absence of financial resources or technological facilities to extract precious and rare-earth metals from this type of property. By this Agreement, the Parties affirm the absence of claims against one another under Contract No. UV/ZGP-2, dated November 5, 2006. The Purchaser must perform the return of the above property no later than June 30, 2008.” https://www.sec.gov/Archives/edgar/data/1301557/000114420408048449/v124117_ex99-1.htm
Conclusion: well, make it yourself. For me it’s a typical Russian scam, which doesn’t mean it can’t run on false “mergers”, “dividends”, or “buyouts” news. Just like other scams often do.
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