Replies to post #128646 on Southridge Enterprises Inc (SRGE)

[bigjay0380]

I think half of the BGL scammers are in jail? Go SRGE!

[peter99ff]

Good true post from you and response from them. Gl in the future. Good work

[Bernija1]

That says it all doesn't it, srge is a proven scam, good post!
MODS this should be stickied!

[rbtree]

Reposted and highlighted

Response from Bandera:

XXXXXX,


Thanks for your email and interest.


Our interests are in the Cinco Minas and Gran 'Cabrerra' concessions. It seems you have been reading of Southridge Enterprises/Minerals (SRGE) 'claims' to these concessions. Bandera does not recognize these claims and and all attempts to contact Southridge Enterprises and/or Southridge Minerals by Bandera Gold and its legal counsel have been unsuccessful. If you are following this matter closely you will likely be aware that SRGE were suspended from trading on the OTC pink sheets on Dec 28, 2012 (attached). The SEC continues to investigate SRGE and will issue further news of these efforts in the future.


For context:


In 2005, Bandera entered into an option agreement with Minera San Jorge S.A. DE C.V. (“MSJ”), a Mexican company, to fund testing and exploration of gold and silver concessions owned by MSJ at Cinco Minas and Grand Cabrera in Jalisco State, Mexico. The Option Agreement provided that, in exchange for Bandera’s contributions of money and stock, MSJ would transfer interest in the Mining Properties to a Joint Venture in which Bandera would have a 60% interest. From 2005 to 2007 Bandera contributed over $6 million in cash and stock to fund those activities pursuant to the option agreement. MSJ refused, however, to transfer title to the concessions as required by the Option Agreement,and refused to transfer 60% of the shares in the Joint Venture to Bandera. In February 2008, Bandera filed suit in the Fifth Mercantile Court of the state of Jalisco. In March 2008 the Mercantile Court accepted the case and embargoed the concessions by ordering the Mining Public Registry to register liens on all concessions under dispute.

Those liens remain in place as this matter is dealt with in the Mexican legal system.


The Cinco Minas mine site has been inactive throughout the duration of our legal dispute.


I trust this clarifies the matter for you.


best,


[see attached file: Dec 28 2012 SEC SRGE Suspension.pdf]



Stephen Roehrig
President & CEO
Bandera Gold Ltd
9320 - 49 Street
Bandera Gold Ltd
Edmonton, Alberta
T6B 2L7
Tel: [phone]
Fax: [phone]
Web: www.banderagold.com
Email: [e-mail]