Management for the Lundin Group

Lukas H. Lundin
Position: Chairman and Director
Petroleum expert/engineer

Edward F. Posey
Position: President and CEO
South African / geophysics

Pierre Besuchet
Position: Director

John H. Craig
Position: Director
he is securities expert

Brian D. Edgar
Position: Director
Corportate securities law

William A. Rand
Position: Director
Securities law in Vancouver

Karl-Axel Waplan
Position: Executive VP Operations
Mine management/financing

Damn, this is fun!

I have just recieved a letter from TD Waterhouse UK dated 6th August notifying me about the dividend payment....
"CMKM Diamonds has announced a stock dividend payment, whereby holders will recieve 0.0000155 new shares in US Canadian Minerals for each share held in CMKM Diamonds.

The payment of the new stock is due to be made on or around 24 September 2004, with the record date being proposed as 20 August 2004.

The stock will not be quoted ex for the dividend payment."

It goes onto say any more info they will contact me etc..

Then at the bottom there is a disclaimer in bold...

"Please note that the information contained in this notice is compiled from sources believed to be reliable but not guaranteed. If you are unsure what action to take, please contact your Financial Advisor."

Probably standard stuff.

I rang them asking if they could tell me where they got this information from, and the girl seemed confused why I would be questioning it. She told me that the company sent the information to them and they inturn forwarded it to the nominee holders. I'm not sure she knew this for fact, and besides this is the UK, and we are dealing with US stocks, which they do not specialise in. I left it at what she told me.

I am drawing my own conclusions that anyone expecting a PR stating the OS is lower than calcualted is deluding themselves.

note that the brokerage house seems to think it is not very bright to question the numbers. i am sure that UC has been notified of this situation, and i can think of all kinds of reasons that he wouldn't act to correct this, but mostly, it makes sense to assume he hasn't corrected because it's true.

quote:

---

Originally posted by glassman:
this quote is from early this week

note that the brokerage house seems to think it is not very bright to question the numbers. i am sure that UC has been notified of this situation, and i can think of all kinds of reasons that he wouldn't act to correct this, but mostly, it makes sense to assume he hasn't corrected because it's true.

---

With all due respect glassman this is old news. Most people on this board have accepted the fact that the O/S may in fact be 483 billion and are OK with it. I am. Even at that number, if/when the company starts pulling up minerals the company is way undervalued at .0004 IMO. I'll be buying more on Monday if it's still that low.

If that land brings say 5 billion over 10 years, 500 million per year profit, then the first year about 440 million would go to stockholders.

Since UC's stock would not figure into our take, and since UC owns half, then the 440 million would be distributed to no more than 250 billion shares.

EPS = .00176/sh

Multiplied by a pe ratio of 20 = .0352

That would be worst case OS, and it only figures one pipe in operation, and it does not rely on predictions but would be based on actual revenue.

If the OS is 40 billion for shareholders, then 440 million would have an

eps = .011 X pe20 = .22

It is possible for this to be a legit .25 stock in 2 years, it could be more if multiple mining sites through all of our JV's, diamonds, gold, uranium, zinc, whatever.

On January 20, 2004, the Company entered into a formal joint venture agreement with Nevada Minerals, Inc. to develop up to 500,000 acres of potential Kimberlite Mineral property located on the east and northwest sides of fort a la Corne, Prince Albert, Province of Saskatchewan, Canada. Kimberlite and Kimberlite pipes are the raw materials from which diamonds may be extracted. The joint venture operates under the name "NevCan." The joint venture has a term that expires on January 20, 2005. By the terms of the joint venture contract, the Company has the rights to twenty percent of the revenues from mining operations at the site. As consideration for entering into the joint venture, the Company paid to Nevada Minerals, Inc. five million shares of restricted common stock. For its part, Nevada Minerals, Inc. tendered its rights to develop the 500,000 acres at the fort a la Corne, Prince Albert site. No on site mining development of this property presently exists and no preliminary testing has occurred. All prospective mining operations on this land are contingent on a number of preliminary tests being successfully completed, as discussed above.

.
since UCAD is a reporting company i looked at their filings...that is what they state.

quote:

---

Originally posted by RaiderJR:
glassman, most of the restricted voting shares are UC's, if he has limited his take to 62 million then that part would not effect or dilute our take as much as people think.

UC's 62 million restriction can give us more confidence.

---

what restricted shares does UC own???
UCAD he isn't listed in the S-3's

CMKX doesn't file , so nobody but the insiders knows who owns what.

from the UCAD 10QSB 5-21-04

U.S. CANADIAN MINERALS, INC.
NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)

5. NOTES PAYABLE-RELATED PARTIES
-----------------------------
Notes payable-related parties consist of the following as of March 31,
2004:

Note payable to stockholder, unsecured, bearing interest at 10% per
annum plus $10,000 to be paid in common stock, the Company is in default
on this note as a result of past due maturities and delinquent
interest payments) $ 130,030

Note payable to stockholder, unsecured, bearing interest
at 10% per annum, past due and delinquent 115,303

Note payable to stockholder, unsecured, bearing interest
at 18% per annum, past due and delinquent 25,000

Note payable to stockholder, unsecured, bearing interest at 10% per
annum, the Company is in default on this note as a result of past due
maturities and delinquent interest
payments 10,000

Note payable to stockholder, unsecured, bearing interest at 5%
compounded monthly, the Company is currently in default on this note as
a result of past due maturities and
delinquent interest payments 7,481

Note payable to director and officer, unsecured, bearing
interest at 10% per annum, past due and delinquent 5,255

Note payable to stockholder, unsecured, bearing interest
at 10% per annum, past due and delinquent 2,072

Note payable to stockholder, unsecured, bearing interest
at 10% per annum, past due and delinquent 1,666

Note payable to former officer, unsecured, bearing interest
at 10% per annum, past due and delinquent 500
--------------
297,307
Accrued interest payable 116,752
--------------

$ 414,059
==============

if i were going to invest in UCAD, i would definitely want to know the details of these loan agreements....

I made it clear these are future earnings, with a 2 year window.

It is a theory based in revenue not potential. I agree unproven, but is there anyone who believes 109 drill targets will produce nothing.

I believe it is an extremely realistic possibility. That is why I don't care about shorts or high OS.

As announced earlier, U.S. Canadian Minerals Inc. recently issued 7.5 million shares of the company's stock to CMKM in exchange for certain mineral rights. Those shares have been issued to CMKM and will be distributed to shareholders of record of CMKM on Aug. 20, 2004. Due to Casavant's share contribution to the property acquisition by CMKM occurring prior to the Aug. 20, 2004, date, Casavant will not receive this or any subsequent dividend.

quote:

---

Originally posted by RaiderJR:
Companies with mineral rights and future potential, but short term financial problems make for good acquisition targets.

Dont you think?

---

quote:

---

Originally posted by noahltl:
Hopefully, actions this week will put many rumors to rest.

---

Exactly, invoking the fiscal powers of rich people is not difficult when precious substances are invloved.... diamonds, gold, silver, which ever....

Even financing 20 million dollars is not terribly difficult to the point of being impossible. I mean CMKX controls the mineral rights to a little over 2 million acres of land in prime diamond discovering areas.

The processes that create diamonds tend to create other things, such as Gold, Silver, Platnum, Uranium, which are also found at depositis in Africa, such as South Africa and Niger, even other parts such as North West Africa. The intense processes that caused the kimberlite to be belched from the earth however many millions/billions of years ago would be rich in certain types of deposits when it was molten magma, cooled and through a varity of natural processes including heat, magnetic intensity when cooling, ect, plus natural occuring minerals that were in the magma like nickle, ect, are most likely, in my opinion, on our TWO MILLION ACRES OF LAND, THE SIZE OF RHODE ISLAND, OVER 2000 SQUARE MILES....

Which we have a magnetic arieal survey of OUR RHODE ISLAND size property plus our neighbors

Now if Saskatchawan is like South Africa, maybe, just maybe we'll find Uranium and then Gold (think the Kugerand guys), Silver, and of course DIAMONDS!!!

from the PR 7-26-04

Due to Casavant's share contribution to the property acquisition by CMKM occurring prior to the Aug. 20, 2004, date, Casavant will not receive this or any subsequent dividend.

bill is right... this does seem to say Urban Casavant is no longer a common shareholder of CMKX,
i tried to determine if he owns any UCAD and came up short....
he may be a partner in one of the privately held companies that hold......

2004-07-26 19:57:05

CMKM Diamonds Inc. Acquires Additional Interests in Saskatchewan

***

Business Editors LAS VEGAS--(BUSINESS WIRE)--CMKX-- CMKM Diamonds Inc. (Pink Sheets: CMKX) announced today that it has agreed to acquire a 60%, undivided interest in 500,000 acres of potential Kimberlite mineral property in Saskatchewan, Canada.
it looks like UC has bought in to this peice of property using 16 million$ worth of (his own) CMKX stock at todays prices. i can see why you would have such confidence in the potential of this property.

Dolkart said the Casavant brand should start appearing in unique jewelry designs in the first quarter of 2003. The firm plans to follow a vertical integration model by mining, buying from other miners, selling loose stones and selling branded jewelry all at once. Casavant is in discussions with mining companies and jewelry designers but is not ready to announce any alliances, Dolkart said.

The firm holds exploration claims in Canada’s Saskatchewan Province and Brazil. It will focus its marketing efforts on Canadian stones. “It makes sense that you can promote them as not only being Canadian diamonds — with all the attributes of Canadian diamonds — but also conflict-free,” Dolkart said. “As a consumer, I don’t see anybody ensuring diamonds are conflict-free. We’ll consider providing an insurance policy that says they’re conflict-free.”

We all know the marketed slogans and associations that give diamonds value: "Diamonds are a girl's best friend", "Diamonds mean commitment", "Diamonds are forever."

Diamonds sparkle, they glitter, but unknown to most, they can also have dark facets before they are cut—this is where the sparkle of diamonds meets the sin of greed, and where conflict and diamonds are incentives for war. "Conflict diamonds" are diamonds that fund the purchase of weapons that have fueled war and humanitarian disasters in places such as Sierra Leone, Angola and the Democratic Republic of the Congo.

The majority of diamonds are not stained by the horrors of war. But there is a significant minority marked with the blood of the innocent.

In West Africa, the trade in conflict diamonds has contributed to the complete devastation of one of the world's poorest countries—Sierra Leone. In 1991, the Revolutionary United Front (RUF) was a rag-tag bunch of 400 disgruntled bandits in the bush seeking a fortune. After capturing the diamond mines in the eastern part of the country, the RUF was able to finance its cause to become a well-armed fighting force of 25,000.

Revenues from the conflict diamond trade purchase arms on the black market and drugs to dope kidnapped child soldiers who are forced to commit unspeakable atrocities on behalf of the RUF. These rebels still continue to mine diamonds under the cover of warfare.

For civilians who resist the RUF, the rebels' trademark of terror is rape and amputations. In the amputee camp in the capital of Freetown, you will find a three-year-old girl whose right arm was chopped off with a machete. There you will also meet a 14 year old girl, pregnant by rape, who will never be able to hold her child because the rebels who raped her also hacked off both of her arms
Other amputees describe the horror of being forced to select at random a piece of paper out of a bag, and losing the body part written on the scrap—arm, leg, ear, or nose. Other hapless victims, they recall, were unfortunate enough to have the word "head" written on that scrap of paper.

In the Southern African country of Angola, war has raged for over 30 years, and the population has suffered immensely. There was a possibility for peace, but rather than accept the 1992 elections which foreign observers judged as free and fair, rebel leader Jonas Savimbi of the group UNITA (Union for the Total Independence of Angola) simply resumed his war by seizing control of the Cuango River Valley, Angola's richest diamond territory.

UNITA began a major mining operation that made them the richest rebels in Africa. Diamond money paid for UNITA offensives that in the 1990s elevated Angola's civil war to a new plateau of savagery, killing more than half a million, displacing 4 million, and maiming 90,000 as a result of land mines.

The Democratic Republic of the Congo has similarly suffered, with armies from neighboring countries killing families as they fight for control over diamonds and other resources.

In these cases, guaranteed access to the diamond mines has been a dominant reason for war, and, ironically, war has enabled the diamond industry to prosper. Diamonds are easily smuggled. To the untrained eye, rough diamonds look like mere pebbles, which can easily be wedged in a shoe, sock, or any kind of body opening, and they can go undetected through most metal detectors or x-ray machines. Because conflict diamonds can move so easily and quickly, a dealer can buy low, sell high and reap windfall profits, particularly during the height of a war.

For the seemingly intractable wars in Sierra Leone, Angola and the Congo, the reason for war is not to actually win, but to engage in profitable crime under the cover of warfare. Over the years, the informal diamond mining sector, long dominated by what might be called " disorganized crime," has now become increasingly influenced by organized crime and by the transcontinental smuggling of diamonds, guns, drugs, and vast sums of money in search of a laundry. Each of these smuggled items has become critical components to warfare, and so violence becomes central to the advancement of those with vested interests.

Despite these realities, there is much hope in ending this. Because Americans consume 65% of the world's gem-quality diamonds, we have the distinct power to dispel the darkness by ending the trade in conflict diamonds. For several months, the diamond industry has made public commitments to set up a global certification system which would filter out conflict diamonds from the clean stream of diamonds coming from legitimate sources.

World Vision, in partnership with more than 180 humanitarian, human rights and religious organizations world wide, believes that the diamond industry and concerned governments must implement this global system in order to halt the trade in conflict diamonds, while protecting legitimate diamond producers like South Africa. But the diamond industry will only keep its commitment if American consumers demand it. There are three things that you can do to help wipe the blood off of diamonds:

1) Write to your senators and the President demanding that they encourage strong Clean Diamonds legislation to dry up sources of revenue used for conflict.

2) Don't boycott, but do ask about the "fifth C." When buying a diamond, the majority only ask about the 4 Cs: cut, color, clarity and carat. When jewelers' customers begin to demand information on the fifth C -- "conflict" -- then jewelers in turn will demand from their diamond suppliers a verifiable guarantee that they are selling diamonds that are conflict-free.

3) Tell your friends and family about conflict diamonds. Let them know that they have the power to save lives by simply writing to their Congressman and talking to their jeweler.

So don't link to the jerks site...

July/26 - CMKM Diamonds Inc. Acquires Additional Interests in Saskatchewan http://biz.yahoo.com/bw/040726/266016_1.html
July/20 - CMKM Diamonds, Inc., to invest in Casavant International Mining, Inc. Declares Dividend For Shareholders http://biz.yahoo.com/bw/040719/196042_1.html
July/18 - CMKM Diamonds Inc. Announces Dividend to Shareholders of Record Date and Option Agreement http://biz.yahoo.com/bw/040718/185046_1.html
July/04 - CMKM Diamonds Inc. Launches National Television Exposure and Awareness Campaign http://biz.yahoo.com/bw/040714/145916_1.html
July/04 - CMKM Diamonds Inc. Has Re-engaged 1st Global Stock Transfer, LLC.
June/04 - CMKM Diamonds, Inc. Announces New Transfer Agent
June/04 - CMKM Diamonds, Inc. Announces Preliminary Results from Goldak Airborne Magnetic Survey of Saskatoon, Saskatchewan
June/04 - CMKM Diamonds, Inc. Announces CMKM Diamonds, Inc. Announces Message Board Has Been Temporarily Discontinued
June/04 - CMKM Diamonds, Inc. Announces Edwards & Angell, LLP. and CMKM Diamonds Inc. Begin Work
June/04 - CMKM Diamonds, Inc. Announces "Carolyn Pipe" Lab Results Confirm Diamondiferous Kimberlite
June/04 - CMKM Diamonds, Inc. Announces It Has Retained D. Roger Glenn, Partner at Edwards & Angell, LLP as Securities Counsel
June/04 - CMKM Diamonds Inc. Announces It is Retaining a Large New York Law Firm to Represent Its Interests.
June/04 - CMKM Diamonds, Inc. Announces the Cancellation of the MRDR Transaction, Internal Audit and Move to New Transfer Agent.
May/04 - CMKM Diamonds, Inc. Announces Phase #1 Drilling of Carolyn Pipe completed.
Apr/04 - CMKM Diamonds, Inc. Drilling up-date: Carolyn pipe core samples sent away for analysis: ETA on results 3 - 6 weeks
Apr/04 - U.S. Canadian Minerals Inc. Announces Intersection of Kimberlitic Rock.
Mar/04 - CMKM Diamonds, Inc. Announces 'Carolyn Pipe' at 900+ Feet and Still in Kimberlite.
Mar/04 - CMKM Diamonds, Inc. Announces Kimberlite Ore Discovery
Mar/04 - CMKM Diamonds, Inc. Announces Drilling Video Footage Now Available on the Company Web Site.
Mar/04 - CMKM Diamonds, Inc. Announces Joint Venture Option Agreement With United Carina Resources Corp. and Consolidated Pine Channel Gold Corp.
Mar/04 - CMKM Diamonds, Inc. Announces Progress on Drilling and Exploration Program.
Mar/04 - CMKM Diamonds, Inc. Announces That Drilling Has Commenced Two Days Ahead of Schedule in the Fort a la Corne Area.
Mar/04 - CMKM Diamonds, Inc. Announces Drilling Program to Commence in the Fort a la Corne Area on Wednesday, March 17, 2004
Mar/04 - CMKM Diamonds Inc., Formerly Casavant Mining Kimberlite International, Announces New Symbol: CMKX
Mar/04 - CMKM Diamonds, Inc. Announces Assignment of New CUSIP Number
Feb/04 - U.S. Canadian Minerals Inc. & CMKM Diamonds Inc. Announces Joint Venture.
Feb/04 - CMKM is featured in a newspaper article in the Prince Albert Herald.
Feb/04 - CMKM announces the company has obtained funding for US $1.8 million with a further pledge for US 3.2 million.
Feb/04 - CMKM announces drilling program to commence.
Jan/04 - CMKM announces purchase of drill rig, accessories, and extra equipment for drilling. Company Signs One Year Contract With Experienced Drill Foreman to Oversee Drill Operation. Program - Commits to Drilling Numerous Holes in Search Of Kimberlite Pipes in the Forte a la Corne Area and Green Lake Area
Jan/04 - CMKM announces MRDR share exchange and spin out of CIM subsidiary has been approved. Date of record will be January 30, 2004.
Jan/04 - CMKM announced that the Green Lake drill target is now suitable for drilling.
Dec/03 - CMKM announced the company is evaluating two offers from public companies for a partial buyout of selected mining claims.
Dec/03 - CMKM announced CIM spin-out to go public is being evaluated with MRDR, a public shell company listed on the Pink Sheets. Anticipated completion date is Jan. 15/04.
Dec/03 - CMKM announces that targets have been selected to commence drilling on Green Lake and Forte a la Corne.
Dec/03 - CMKM announces 16.5 billion shares officially retired to treasury.
Dec/03 - CMKM announces that spin-out company, Casavant Mining Int. will go public.
Nov/03 - CMKM announces 900,000 dollar joint venture funding contracts with 3 public companies. The three companies contracts that were consummated are: Consolidated Pine Channel Gold (CDNX-KPG-V), Shane Resources (CDNX-SEI-V), and United Carina Resources (CDNX-UCA-V). The agreement is that these companies now have the right to acquire an undivided 10% interest each in 82 prospective claims held by CMKM in consideration for 900,000 dollars in funding.
Nov/03 - CMKM announces over twenty billion shares have been retired back to treasury to date.
Sept/03 - CMKM announces six billion shares are being retired back to treasury.
Sept/03 - CMKM launches corporate website http://www.casavantmining.com
Aug/03 - CMKM announces three million dollar exploration and drilliing program with Durama Enterprises Ltd.
Aug/03 - CMKM announces share dividend payout for CMI.
Aug/03 - CMKM announces 2 for 1 foward stock split.
Jul/03 - CMKM files "Certification and Notice of Termination of Registration" Form 15-12G with SEC. CMKM becomes a non-reporting company.
Apr/03 - CMKM Announces Initial Report on Exploration Project at Fort a la Corne, Saskatchewan.
Feb/03 - CMKM files "Definitive Information Statement" Form 14C with SEC.
Jan/03 - Casavant Mining obtains trading symbol CMKM on OTCBB
Nov/02 - Casavant Mining merges with Cyber Mark International
CMKX HIGHLIGHTS:

I was looking at the Canadian Governments
site that has all of the mineral rights claims. It can be downloaded as either an
excel, ascii, or text file.

There is absolutely "no" reference to CMKX,
CMKM, CIM, CMI,... Casavant...

Saskatchewan Ltd is listed as the rights owner. I then did a search on Saskatchewan
Ltd and found some not too nice references.
But nothing that tracked back to Casavant.

The government site lists transactions up
through the end of July. There was no changing
of hands that I could see of 60% of Nevada
Mineral Claims to any entity let alone
to CMKM.

Might be worth it to download the file
and take a look.

quote:

---

Originally posted by WWJD-thru-me:
Shadow -I don't know what you were looking at but I will provide an interactive map link for Saskatchewan that you can click any point on the map and it gives up to date info. Claims are added to, transferred, lapsed on purpose or by neglect every week. Each area you click on will list how many companies are in the area. How many new claims have been filed and how many lapsed.
http://www.explorationgis.com/products.html

If you know your way around a map of Saskatchewan this is fun to work with.

I have no doubt that UC and company are on top of things. He has been staking claims for a long time and knows what they hold. The meetings are in Canada this week with Roger Glenn (the excellent lawyer who represents our largest shareholders interests and therefore ours) and many other mining parties. I think we will only have to wait until the conclusion of this meeting to have more answers than questions for a change. IMO-Debi

---