kellyco, let me help doubleulgy out with a summary of the scam as I see it.
Mr D buys licences to mine gold in mines or tailing dumps. Then he buys a shell like AURC and transfers the licence/s into the shell. (Remember that AURC used to sell gold oh sorry golf equipment before).
Mr D then sells shares of AURC to the public, promising to mine the gold and return profit to shareholders in form of dividends (you will think it will be cash once you hear profits, but what you will get is worthless shares that will half in price 3 months after it gets issued).
Mr D will now start pumping the share price and dump into any rise. Enter the fake buyout. In the 4 week period between the middle of April and mid May 2007 over 220 million shares changed hands - where do you think these shares came from. Mr D released an extraordinary number of PRs (11 in 5 weeks) to pump and dump into.
Mr D continues the fake buyout story by promising to set up shareholders' meeting. Mr D postpones the meeting three times over a 6 month period.
Mr D releases PR about gold production, equipment purchase to boost further production and shareholders forget abou SH meeting and buyout. Meanwhile, despite producing 6 or 7 million dollars worth of gold per month, Mr D has to file REGDEX to sell shares in order to pay a meagre $100000 salary.
December 5, Mr D expects definite offer in Jan '08 from Canadian company, but come Jan 30 Mr is still talking to not only Canadian companies, but European ones too.
Unfortunately for Mr D, JH pooped in the party by exposing his scam and the only rebuttal we get is that he is upset. So what is he going to do about the accussation other than being upset?
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