Replies to post #11795 on Petro America Corp. (fka PTRZ)

[nodummy]

Yeah it was mentioned in the affidavit as a mine that Petro America Corp claimed to own.


From the affidavit:

Petro America issued a press release claiming PTRZ (which is Petro America Delaware) had acquired a 24% interest in an unnamed Arizona gold mine (later determined to be the Alvarado Mine in Congress, Arizona). According to the release, Petro America “hopes” its interest is worth more than $300 million. (June 2009). Michael Payne, the principle scientist for a company called WM Engineering, purportedly determined the value. Matt Shumaker, the Chief Mineral Examiner with the U.S. Department of Interior, Bureau of Land Management, determined that Payne was not licensed or registered to practice geology or mining in Arizona. Shumaker determined that Payne’s report misuses terminology and is missing appendices. Shumaker does not believe Payne has the qualifications to make determinations regarding the mine’s value. According to Shumaker, the report filed by Payne is of insufficient quality and content to establish reserves or resources and does not even qualify as exploration information.



What all do you know about Langenbach or anybody else from Petro America Corp claiming to have ownership in the Alvarado mine?