Cycling into the next round of pump and dump has started. This confirms to me that the "gold" endeavor was a pump and dump. Looking down the track I wonder what the next one will be......Don,t you just love the penny world?
Quote: -------------------------------------------------------------------------------- From: Ken Stead <kstead@katexploration.com> Subject: Re: mY RESPONCE TILL YOU GIVE ME BETTER ONE !!! CHINESE ART OF "WAR" To: "XXX XXXXXXXX" <XXXXXXXXXXX@xxxxx.com> Date: Tuesday, January 26, 2010, 6:58 PM
XXX Some guys really like to distort, I guess lack of facts and attitude. Kat was incorporated in 2005 and at a mining show in Vancouver that year an acquaintance put us in touch with Atlas Mining who we knew nothing about and being a private company we were supporting the company with personal funds which wasn't going to take us to far. A 1 year deal was struck with Atlas Mining for grubstaking Kat with an option to continue funding if so desired. However, after the 1 year was up Atlas decided not to fund Kat any longer. So that deal was finished and we had nothing to do with Atlas since. Yet a year or so later Atlas came in to some legal problem that we had no knowledge of and still don't. This left us on our own for a few more years using our own funds once again and yes just scraping along and doing just enough on our properties to keep them in good standing without pay checks. I went 23 months before I got my first paycheck last time around. We continued to keep discovering new areas and eventually came up with enough money stake new properties and now it seems to have paid off and hopefully we'll be good from here on in. --------------------------------------------------------------------------------
Quote: -------------------------------------------------------------------------------- The Associated Press
BOISE, Idaho — A northern Idaho mining company's former chief executive must pay $50,000 to settle allegations he financed his company's struggling operations by illegally distributing millions of dollars worth of stock to investors.
William Jacobson, former CEO of Atlas Mining Co., is also barred from serving as an officer or director of any issuer for five years, the Securities and Exchange Commission said in a statement Tuesday.
Atlas Mining is now known as Applied Minerals Inc.
The SEC alleged Jacobson from 2002 to 2005 tried to keep Atlas afloat by orchestrating illegal stock schemes, then fabricated documents and made false statements in public filings to cover his tracks. The company, based in Osburn, Idaho, in July settled a class action lawsuit when it agreed to pay $1.25 million to investors who claimed the company artificially inflated stock prices through false financial statements. --------------------------------------------------------------------------------
Quote: -------------------------------------------------------------------------------- Atlas Mining (OTCBB:ALMI) and partner Kat Exploration earlier this month bought acquisition rights to the Handcamp Gold Property in Newfoundland. Atlas also announced that DURTEC GmbH of Neubrandenburg, Germany would distribute its halloysite clay in Europe. Atlas mines a pure white halloysite at its Dragon Mine in Juab County, Utah, which it says is the only commercial source outside New Zealand. (Halloysite is used in porcelain, china and a growing number of high-tech ceramic applications.)
From a low under 80 cents last winter, stock of the Osburn outfit has jumped up to about $1.80 now. --------------------------------------------------------------------------------
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