UCAD U S Cdn Minerals Inc (OTC BB) 7/19/2004 6:41:21 PM ET

Realtime Quote $4.50 + $1.10 (+32.35%) Refresh Quote



Press Release for U S Cdn Minerals Inc


U.S. Canadian Minerals Purchases Additional Interests In Saskatchewan
7/19/2004 7:26:00 PM
LAS VEGAS, Jul 19, 2004 (BUSINESS WIRE) -- U.S. Canadian Minerals Inc. ( UCAD ) announced today that it has purchased an additional 20% interest in claims in Saskatchewan in the Fort a la Corne area. The company had previously acquired a 20% interest from Nevada Minerals Inc. under its Joint Venture Agreement bringing its total ownership interest to 40%. The company will exchange 100,000 shares of the company's Preferred Class A stock, which have conversion and voting rights to common shares.

Rendal Williams, CEO of U.S. Canadian, stated, "We are excited to have acquired additional interests in these claims, which we believe will increase shareholder value and may have possibilities for positive economic results. Based on information from the fly-overs conducted by Goldak's Navaho aircraft equipped with a tri-maxial magnetic gradiometer, completed in April, May and June, exploration targets will be set for the next level of operations."

Further details relative to this project will be forthcoming in future press releases and at http://www.uscanadian.net/.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

Statements contained in this document which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements.

SOURCE: U.S. Canadian Minerals Inc.

U.S. Canadian Minerals Inc.
Chris Hanneman, 303-220-8476

Customize your Business Wire news & multimedia to match your needs.
Get breaking news from companies and organizations worldwide.
Logon for FREE today at www.BusinessWire.com.

Zens latest thoughts on today
« Thread started on: Today at 7:59pm »

--------------------------------------------------------------------------------
Posted by: zeninvestor32
In reply to: None Date:7/19/2004 7:53:57 PM
Post #of 56734

MY THOUGHTS ON TODAY AND MORE.

Fully expected. Anyone surprised to see JEFF was the one clinging to .0005? JEFF IMO absolutley knew that the second he released his foot from .0005, there would be 5 MMs stepping up to the bid at .0005. He kept it there and got his .0004 close (NICE paint job BTW). Why? People come home tonight, check their stock and see NO CHANGE They assume this PR must not have meant anything and "eh, maybe I just need to put my sell order in and be done with this." But now JEFF is feeling some heat. 19 trading days until he's gonna have to figure out how a (currently) unknown number of UCAD dividend shares are going to have to be placed in everyone's accounts. Still, JEFF needs to be patient and play this out accordingly. .0005 is a first level. There should be a battle royale though at .001. JEFF hopes to cover for his client significantly there. But he will likely get MORE selling by holding it here at .0005 a bit longer. Make people anxious, nervous, emotional. Now when .001 finally hits, they may act hastily, rashly and sell.

Did anyone catch UCAD however? Let this be a CLEAR warning shot. 26,000 shares moves UCAD up 33%. There are practically NO shares available. NONE. Shortie does not yet know how many shares above and beyond the 7.5 million he'd have to produce to cover the UCAD dividend he might owe, but he knows he can't get them on the UCAD open market. There just AREN'T any. The ONLY way shortie will cover is through CMKX. And by the way, my personal speculation is that UCAD will not close under $4 again. Which would be interesting since Nasdaq Small Cap requirements are a $4 share price. A reverse merger into UCAD and a listing on Nasdaq in 30 days? Possible? Maybe. Just some thought. If UCAD jumps to $5 and holds there, we could even see an application for a Nasdaq National Market listing. Personally, I think they'll sidestep the whole issue and go for AMEX through a reverse merger into UCAD after August 20.

I must repeat what I have said many times before. I do not believe Roger Glenn was brought on board to help CMKX become a reporting otcbb company. In fact, anecdotal evidence these days suggests such a move is not even possible any more. The SEC wants the otcbb to disappear completely and they seem to be not very amenable to any otcbb applications these days. No, I believe Roger was not only brought on to break a record-setting short position, but that his skill sets were uniquely qualified to position CMKX to get listed on one of the major exchanges and QUICKLY. I do not think the MMs that are short are unaware of this fact.

I believe Urban and Roger have served notice that the shorting will be over by August 20. One step at a time, we move toward that date. They may try to hold the line here for awhile. But IMO they will either have to cover or Urban/Roger will continue to drop cluster bombs on them with further updates/deals/information. I do feel the MMs are being given a "grace" period so this all happens in a more orderly fashion, but I do also think that the consequences for not respecting this grace period will be swift and severe.

Personally I believe we have the mother lode in diamonds and other resources.
Personally I believe we have a very low OS that will stun the crowd into silence.
Personally I believe we will reverse merger into UCAD (c'mon how much more obvious can this be)
Personally I believe we are headed to a higher exchange.
Personally I believe we will reach share prices where institutions will want to be a part of this company.
Personally I believe this investment will change my life forever.

We watch. We wait. Very soon I believe ... we win.

quote:
--------------------------------------------------------------------------------
TradingPennys
How do you account for the lack of price movement with such high volume then? I am curious...
--------------------------------------------------------------------------------

quote:

---

Originally posted by noahltl:
Will.........sorry about another Zen post, it just seemed interesting, and I have to hurry today. I'm the director of a local charity, and I have to spend the next week at our county fair, overseeing a fund raising booth. I might be able to stop in for a few minutes in the morning and late evening. With Debi and I both out of commission there are only a few longs left to post. Those of you who can, please pick up the ball and run with it while we're gone. I'm really going to miss watching this stock for such a long time, but we are making money for the handicapped and disabled here, and some things are more important than my portfolio.

---

The BIG Picture
« Thread started on: Today at 5:58pm »

--------------------------------------------------------------------------------
I mentioned this Paltalk and wanted to reiterate it here.

We as a group need to look at these apsects of our growing company. One of the first and foremost is our brand recognition positioning in regards to racing.

We are advertising now. Establishing the Casavant name and I believe soon the Casavant Diamond. With the world heightened sense of political correctness. Conflict free has a lot of meaning.

Let's look atthe advertising for a second and i will move on to the market shortly,

We are doing this extremely cost effective. In teh open market advertising rates for a 30 second spot can cost upwards of 3 miilion. Our teams have had many 30 second spots at a rounded cost of 15k per race.

Think about this CART racing was a spin off from the F1's why?? The advertiser base was diluted and all teh money had been made. They needed more opportunities for more diverse sponsorship. To the average mnarketing manager the value is formulated by cost per viewership.

Think of ours?? We had upwards of 9 million viewers watching the drag races. ( formulated from Nielsen)
We inherently reached 9 million people, put with that the higher we go in positioning the more attention. Interviews with Casavant and spotlights on his new company.

DO we already have diamonds?? Like most of you here I most certainly believe so.

Let's look at the market.

We had a reported AS of 7.7 billion before the AS 500billion announcement came out. Let's take what urban owns of it off the table for a minute.

Show me where we had that much volume in sales in the past 60 days. Can't. It has always been my perception that dilution shares go off at the bid. How many have you seen??

Now as much as we hate and yes I said HATE the MM's we have to work with them. They make our market. Period. It is my belief that UC and Glenn will time teh PRs accoriding to how the MMS are covering. Now before yo hit me with wehad 95%+ sales today, let me counterstrike with WHAT WAS The 5th Digit??

Now do you see what is taking place?? They will hold us down, run us up and drop us off a cliff to instill market panic. Don't tell me you didn't watch the trading today and say WTF I have had it!! The MMS bank on that because they have no choice not to!!

Well L+G's this is just the beginning. You will be amazed the sells when all the longs have 300k one day and 160k 15minutes later after a walk down. If it hits 300k they will see it as a blessing form God and get the F out.
It takes the strong to survive.

One lastthing I wanted to leave you with., The TAS annoucement of 400bill. THat HAD to have been brought about by counting shareholders fo record. We didn't have an audit yet!!That proves shorts. Look at all the past filings and PRS, it cannot be true,. Urban did not come all this way to lie and lose. Glenn, wouldn't let himself be soiled.

The Tradeable float are what we need to be concerned with. No More No less. Remember UC has shares locked away for 2 more years. So he isn't getting rich on the PPS ..

WHO IS??

Press Release Source: U.S. Canadian Minerals Inc.

U.S. Canadian Minerals Purchases Additional Interests In Saskatchewan
Monday July 19, 7:26 pm ET

LAS VEGAS--(BUSINESS WIRE)--July 19, 2004--U.S. Canadian Minerals Inc. (OTCBB: UCAD - News) announced today that it has purchased an additional 20% interest in claims in Saskatchewan in the Fort a la Corne area. The company had previously acquired a 20% interest from Nevada Minerals Inc. under its Joint Venture Agreement bringing its total ownership interest to 40%. The company will exchange 100,000 shares of the company's Preferred Class A stock, which have conversion and voting rights to common shares.
Rendal Williams, CEO of U.S. Canadian, stated, "We are excited to have acquired additional interests in these claims, which we believe will increase shareholder value and may have possibilities for positive economic results. Based on information from the fly-overs conducted by Goldak's Navaho aircraft equipped with a tri-maxial magnetic gradiometer, completed in April, May and June, exploration targets will be set for the next level of operations."

Further details relative to this project will be forthcoming in future press releases and at http://www.uscanadian.net/.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

Statements contained in this document which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements.

Either way, UCAD seems to be making some major plays....
http://www.sec.gov/Archives/edgar/data/1104194/000101968704001152/uscanadian_10q-033104.txt

noah - Thanks for all the DD, hope you raise lots of money for the needy.

Coming fast and furious now.

LAS VEGAS, Jul 19, 2004 (BUSINESS WIRE) -- CMKM Diamonds, Inc. (Pink
Sheets:CMKX) has agreed to invest US$1,000,000 in Casavant International Mining
referred to as (CIM). CMKM Diamonds,Inc. will receive in return a 10% lifetime
royalty on all mineral claims of CIM , specifically including the George Lake
Zinc Deposit,
(http://www.ir.gov.sk.ca/dbsearch/MinDepositQuery/Default.asp?ID=0663) In
addition to the zinc deposit royalty CMKM Diamonds, Inc. will also receive 40
billion shares of CIM stock which CMKM Diamonds, Inc. will distribute pro rata
as a dividend to all CMKM shareholders of record on August 31, 2004.

Ron Casavant CEO, and Dave Desormeau Secretary/Treasurer, of Casavant
International Mining (CIM) said, "The company plans to utilize these funds to
initiate a drill program to re-evaluate the known reserves of the George Lake
Zinc Deposit and to establish a course of action for the project. The company
also plans to become a publicly-reporting company." More details will be
released in future news releases.

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements, other than the statements of historical facts, may be
deemed to contain forward-looking statements with respect to events, the
occurrence of which involves risks and uncertainties, including, without
limitation, demand and competition for the Company's products and services, the
availability to the Company of adequate financing to support its anticipated
activities, the ability of the Company to generate cash flow from operations and
the ability of the Company to manage its operations.

SOURCE: CMKM Diamonds, Inc.

CONTACT: CMKM Diamonds, Inc.
Melvin O'Neil, 306-752-3755 or 877-752-3755
fax: 306-752-3754
ipr@sasktel.net

Customize your Business Wire news & multimedia to match your needs.
Get breaking news from companies and organizations worldwide.
Logon for FREE today at www.BusinessWire.com.

Copyright (C) 2004 Business Wire. All rights reserved.

By employing this modern, state of the art geophysical equipment and flying a low-level, closely spaced survey, hundreds of magnetic anomalies were able to be identified. Some of these anomalies are obvious drill targets, while others will need further study by the Company's consultants.

Urban Casavant, president of the CMKM Diamonds, Inc., stated, "The company is very pleased with the results of the survey. For the first time in the history of diamond exploration in the Fort a' la Corne area, a complete and comprehensive magnetic picture of the whole area is available to the company."

The company intends to immediately pursue the most obvious targets by drill testing as soon as permitting and logistics allow. There are now more than enough targets to allow CMKX to drill continuously. On a final note, Urban Casavant stated, "These hundreds of anomalies have been filtered for elimination of farm equipment and steel buildings as a probable cause for such an impressive count of anomalies."

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts, contained in this release which are not historical facts, may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.

SOURCE: CMKM Diamonds, Inc.

Diamonds Hotline
Melvin O'Neil, 306-752-3755 or 877-752-3755
fax: 306-752-3754
ipr@sasktel.net
Customize your Business Wire news & multimedia to match your needs.
Get breaking news from companies and organizations worldwide.
Logon for FREE today at www.BusinessWire.com.

--------------------------------------------------------------------------------

Copyright (C) 2004 Business Wire. All rights reserved.

News provided by

quote:

---

Originally posted by Wallace#1:
I saw that Nevada Minerals/UCAD release when it first came out and noticed something sounded familiar but couldn't place it.

Does anyone exactly remember the language used in connection with CMKX's release about their Goldak Navaho aircraft fly-overs and in what months they took place?

---

By: rocketship0
19 Jul 2004, 09:45 PM EDT
Msg. 46201 of 46207
Jump to msg. #
Ladies & Gentlemen...Mr C and Roger are slowly tightning the nooze! This is one hell of a play. I don't think CIM shares are trading. If that is the case, how in the world can Shorty cover CMKX NSS.....Simple....they must, I repeat they must raise the PPS of CMKX in order for people to sell and for them to cover. What a brilliant move. Incredible!!!!!

We will be making history folks.

Opinions, observations, and commentary from Stock Patrol and our readers. We share our thoughts on interesting issues and developments and invite readers to do the same. If you have a question or comment for Stock Patrol, please send it to you@stockpatrol.com. We will respond to questions from readers and, from time to time, we will publish some of those observations on this page. Letters may be edited for space and clarity.

SHORT STORIES OR TALL TALES? – WHAT DOES THE SEC’S NEW REGULATION SHO MEAN FOR SHORT SELLERS?
October 27, 2003

Have short sellers conspired to depress the value of dozens of over the counter companies? Or is the short selling conspiracy simply a convenient bugaboo that allows struggling companies to hide behind their own failures?

Optimists hoped that the SEC’s new short sale regulations would help investors answer those questions, but the relatively toothless SEC proposal is unlikely to end the debate.

News of the pending SEC proposal was greeted with anticipation by the champions of those self-described beleaguered OTC companies. Some even tried to spin the new proposal before details were announced – suggesting that it would herald an end to naked short selling.

Those observers were none too pleased with the SEC Staff’s proposals for Regulation SHO, which fell far short of expectations. Regulation SHO would establish new standards for short sales of exchange traded securities – those listed on the New York Stock Exchange and NASDAQ – starting with a two year experiment eliminating rules that bar short selling when a stock's price is falling. That rule, however, would not apply to over the counter stocks.

As far as the OTC markets go, the SEC proposal would make it more difficult to short-sell stocks without actually borrowing the securities, a practice known as “naked short selling.” Traders who short stocks but fail to deliver the securities at settlement would face restrictions, such as being required to pre-borrow the security before shorting it again over the next 90 days. Critics say that this would do little to deter the brokerage firms that enable short selling.

It also would be unlikely to discourage professional short sellers, particularly those who trade outside the U.S. and beyond the reach of domestic regulators.

Are the critics truly displeased – or will they breathe a sigh of relief that the SEC seems satisfied with half measures? That depends upon whether the short selling conspiracy is real or imagined. Undoubtedly, the answer to that question is not a simple yes or no.

In the past year, a host of over-the-counter companies have claimed to be victimized by these “naked” short sellers. For the most part, these companies have several things in common; they are struggling, trade at microscopic prices, have little or no business, have few, or no revenues, have few, or no assets.

In all likelihood there are some over the counter companies that have been victimized by naked short sellers. They justifiably complain that lax short selling rules have adversely affected their prospects.

But how many other companies have jumped on that bandwagon and raised the red flag of short selling to conceal their own shortcomings?

Trying to distinguish between legitimate and feigned complaints, however, is a daunting task – particularly since none of the supposedly aggrieved companies have been able to establish with certainty the alleged naked short selling.

And investors should keep in mind that some of these over the counter companies are architects of their own misfortune, even where short selling is present. Lacking assets or significant revenues, those companies become desperate for cash, and make devastating deals with financing devils. These include arrangements where the company issues massive amounts of stock to their friendly financiers, and agrees to register those shares even before they have received financing. Such arrangements encourage those financial “angels” to short the company’s stock, thereby driving down the stock price, and then cover those short positions with the registered shares they receive (often at a discount) in exchange for their financing.

It’s a win-win for the financiers, who can use proceeds from the short sales to provide the promised funding to the company – and then pocket the excess after they cover their short position by delivering the newly registered shares, which are now trading at a lower price thanks to the shorting scheme.

But it’s a losing proposition for the company, which has effectively provided its own financing, and is left with a severely depressed stock price.

That, of course, is just one scenario – but a very real one.

The naked short selling debate is made even more murky by the fact that it involves so many companies with dubious credentials, and few legitimate prospects. Their eagerness to adopt the mantle of “victim” threatens to detract attention from the handful of over the counter companies that really have suffered from this practice.
http://www.stockpatrol.com/yours/talltales.html

___________________________________________

Regulatory shortcomings have allowed short selling sharks to ply their trade without sufficient accountability. But just how many sharks swim in these waters?

It is impossible to tell since the extent of naked short selling is a matter of conjecture. Companies point to high trading volume and depressed share prices and claim that it is the work of short sellers. They blame brokers and market makers and clearing agencies like the Depository Trust Company. Investors, eager to understand why their holdings continue to plummet, are ready to accept this explanation because, after all, it sounds perfectly plausible.

And sometimes it is - but who is telling the truth?

Sure, naked short sales might account for deeply depressed stock prices - sometimes. There are, however other logical explanations which would just as easily explain these trading phenomena.

The first is also the most obvious: some of these companies have no meaningful value. If a company has few assets, no revenues, no substantial operations, and little realistic expectation of success, it should come as no surprise that its stock trades at pennies, or even a fraction of a cent.

High volume accompanying such meager stock prices is hardly an indication that Wall Street has discovered a hidden gem. Nor is it necessarily a sign that the naked shorters are loose. Think logically. If a stock is already trading at pennies, does it make sense to sell short? Just how many shares would the professional short seller have to sell for that exercise to be worthwhile?

And if the short seller is a pro, wouldn't he be savvy enough to find a more highly priced stock, where the potential spread and profit is significantly better?

Which brings us to a second, more logical explanation for the activity attributed to the short sellers: someone is dumping shares. Is it possible that a bump in trading volume signifies someone selling stock - rather than shorting shares? And are there circumstances where companies might want to avoid acknowledging that shares are being unloaded? You bet there are.

Some companies might be reluctant to admit they placed shares in the hands of the sellers who are dumping them on the marketplace. How might stock find its way into the hands of those sellers? There are a variety of ways, as the following indicates:

Some shares may have been registered on Forms S-8 and then issued to consultants, employees and attorneys who resell them immediately.

Other stock might have been sold to offshore investors under Regulation S, which provides an exemption from registration for shares issued to certain non-U.S. residents. Those offshore shareholders can then resell the shares overseas, immediately.

Shareholders who have held stock for at least one year can sell their holdings, without registration, under the exemptions provided by Rule 144.

Financiers who provide "equity-based" financing for small companies generally receive large allotments of registered stock in consideration for their investment. These investors may sell those shares short in anticipation of their registration, or simply wait until they have been registered and then liquidate their position. Either way, they would be trading in substantial volume.

Then there are PIPES, the popular acronym for private investments in public entities. These private investors receive large numbers of shares in return for providing funding to companies who are desperate for funding. If the PIPE investors are U.S.-based, the shares may be registered. If they are overseas, their shares could qualify for the Reg. S trading exemption. Either way, the investors would be in a position to introduce a large quantity of stock to the public float.

Companies who have been diluting their public shareholders by issuing stock to consultants or insiders, or on favorable terms to financing entities, may be loathe to admit that they are the source of a sudden spurt in volume. In that case, naked short sellers make for a convenient scapegoat.

The problem for investors, and ultimately for regulators, is to separate those companies that have truly been victimized by naked short selling, from those that have not. Ultimately, the public will have to determine who are the pretenders, and who is telling the truth.
http://www.stockpatrol.com/yours/toc.html