Replies to post #14293 on Double Crown Resources Inc. (fka DDCC)

[DragonBear]

$20 million a month... adds up to-nothing

A gold commodities broker's function is to:

Match up a buyer/seller at a given price. Where the seller (mining operations) want their money up front. And the buyer will pay only after the shipment has reached port. The broker has to front the money, including transport costs.

For DDCC to pull off suddenly becoming a gold broker they would need a SBLC from a commercial bank covering at least $20M, and preferably $40M.

Going back to the last 10Q 30-Sep-15:

What commercial bank would set up the equivalent of a $40M revolving credit loan to a company with $800K in assets, and -$4.4M in liabilities? What commercial bank would set up a $40M SBLC with a company that had a $575K bank note due in Oct 2015, and no means to pay it? No assets, no collateral to justify a SBLC of $40M. DDCC made no mention of the details in the Jan 8K. As in there was no SBLC set up. The SEC asleep at the wheel allowed them to get away with it.

Instead one has the Microcrap fantasy. A mining network, of un-named companies eager to hand over gold to a Microcrap with no experience in brokering gold trading. And DDCC can pay them when they get around to it. An un-named buyer willing to pay a Microcrap with no experience in brokering gold trading. And delivery can be made whenever DDCC gets around to it.

Instead of renting that $3100/month apartment, they should just buy it.

Are you trying to help give CEO Jerry his next pump idea? If DDCC can acquire a fabled Mexican mine for FREE (e.g. no cost given), then surely they can acquire all kinds of real estate ... for FREE.