OldBen, I again urge you to differentiate between the gold mines & the BGI & SCI shares that at least, once represented the Bouse & South Copperstone mining claims.
Chances are, those mining claims will be around forever since they are good for re-cycling. But that can't be said for the BGI & SCI shares since they are dependent on their registration remaining active with WY SOS. In short, not only can they legally disappear but at this time, it looks like they will do just that next March 12. On that date, or shortly after, look for the Status of both those corporations to change from "Administratively Dissolved" to "Archived" once the 2 year reinstatement window closes for good.
Once both companies are permanently dissolved legally, their shares will disappear too, although the mining claims themselves will remain, most likely, in the hands of Searchlight Exploration which is very likely where they are already.
To date, NMGL has purchased exactly 23.22% of the BGI shares and 46.84% of the SCI shares as described in their 12/9/2010 Form D filings. NMGL can try to finish purchasing those remaining shares...but don't hold your breath for that to happen after 2 years.
Option B is to try to sell or liquidate those shares that they have for a mere $258,000,000 or more so that they can get the funds to cover their A & B Preferreds in order for that 3400% dividend to be paid. A few problems there though:
1. Perspective buyers would demand well documented assays and feasibility studies before even thinking about forking over that kind of money...none of which FFGO ever made public.
2. They would have to be shown that the information on the Bauman & McIntyre Group site showing no Proven or Probable Gold Reserves is outdated. Of course, the question should arise as to why that information remains there if it is outdated since Searchlight Exploration is also a 10% BGI & SCI shareholder and stands to make a sizable profit if those properties are finally sold for a billion dollars. Kinda makes you go, "Hmmm..."
3. NMGL needs to get current with NV SOS and get their Business License back before they can make any kind of deal with anyone.
4. As long as BGI & SCI remain administratively dissolved (for the sake of a few hundred dollars in total fees owed), what prospective buyer of those shares would take such a risk with companies which aren't responsible enough to remain current in order to conduct business?
5. Imagine the trouble a perspective buyer would have, trying to call BGI & SCI President Peter Bezzano for information on his companies. There are no SuperPages listing for either...not an address or a telephone number. A billion dollar enterprise that can't be reached doesn't instill a whole lot of confidence, does it?
As far as pressure being put on to sell those shares, keep in mind that all those entities involved are overseen by Lumb in one fashion or another. FFGO already had sold 75-85 billion shares before getting shut down, which was a tidy profit since not a nickel of it went into developing any of their mining claims...something FFGO shareholders would have been well aware of if management had filed their required financials.
Penny stock companies working in the dark is never ever a good situation for investors!
As for the actual mining claims valuations, all the public (including shareholders) were provided with were historical accounts of the Bouse property (compliments of Dr. Colliston) and educated guesses of what might be in the ground.
Unfortunately, in the REAL World where mining scams are rampant, companies demand proof of mineral reserves before shelling out hundreds of millions of dollars for the claims, in addition to the huge amounts of start-up capital required for permits & equipment.
Keep in mind that the existing Bouse mines were completely worked before being abandoned and that South Copperstone only has test drill holes to date and not even one, solitary mine...active or abandoned.
And yes, time is running out.
Good luck with your project.
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