Allstocks.com's Bulletin Board
Topic Closed  Topic Closed
Post New Topic  New Poll  
Topic Closed  Topic Closed
my profile login | register | search | faq | forum home

  next oldest topic   next newest topic
» Allstocks.com's Bulletin Board » Micro Penny Stocks, Penny Stocks $0.10 & Under » CMKX ... VI ... The Saga Continues (Page 32)

 - UBBFriend: Email this page to someone!   This topic comprises 75 pages: 1  2  3  ...  29  30  31  32  33  34  35  ...  73  74  75   
Author Topic: CMKX ... VI ... The Saga Continues
secman
Member


Rate Member
Icon 1 posted      Profile for secman     Send New Private Message       Edit/Delete Post 
quote:
Originally posted by VNGNTN1:
OK
I don't care what CMKX WILL DO at this point, I am even. Suspect a number of other longs have played this with all partners same as me.
------
GREAT JOB WINSUM
------
A long life other dealing with business people equal to & greater than myself ( and I consider myself very astute in judging others). I must say that no matter how smart you think you are, when dealing with others who must eventualy reach into thier pocket for $(MM), there are infinite ways that you have not thought about that directs a course of action that will stun you.
Patience is a virtue and so is common sense.
Hope most of you are exercizing both.
VAN
PS: Let me offer an observation about the posts on this board, Not to include or exclude anyone(because I can't remeber all)
NEGATIVE t POSITIVE
Several who have been banned
Wallace#1
Secman
Will
Upside
- - - -Realists
Blue byrd in all forms
Bill 1352
Will & Upside at times
OTHERS who post infrequently(3-5)
= = = =
VAN
= = = =
OTHERS who post infrequently1-2)
Noah
WWJD
========================
This says nothing about wether common sense may or not been used in trading, just how information is spun to this site.

[This message has been edited by VNGNTN1 (edited September 15, 2004).]


Yet another useless post by the resident dufus.... thanks


IP: Logged | Report this post to a Moderator
noahltl
New Member


Rate Member
Icon 1 posted      Profile for noahltl     Send New Private Message       Edit/Delete Post 
quote:
Originally posted by secman:
Yet another useless post by the resident dufus.... thanks

Once again rchaud98, were you talking about Van's post or yours?


IP: Logged | Report this post to a Moderator
secman
Member


Rate Member
Icon 1 posted      Profile for secman     Send New Private Message       Edit/Delete Post 
in a PR we where promised the following:

1.results from carolyn pipe.
2. news of Vegas meeting.(per ir man melvin)
3.news of canadas meeting(per ir man melvin)
4. video of drilling (8-5-04)pr
5.national tv campaign 12 spots run thru 12-18-04(7-14-04)pr
6.Pacific stock t/a, nothing about why they stopped and went back tp Global(6-29-04)pr
7.shutting down msg board, will be back up soon(6-18-04)pr
8.ucad and cmkx to move forward together, more details in future news release(7-18-04)pr

these are just a few of the recent promises. I tried to stick to the PR ones because the ones from IR Melvin, are numerous. to say the least. IBC radio, Pal-Talk etc.

I feel we as stockholders are being drug along for a ride without any accountability from our company. I know everyone says just wait, but look at this outside the box and as an investor. All the other stocks we own, we would not be this patient. If Ford, Msft, GE or any other company made these statements we would be up in arms.

Yes I also know they are reporting companies, but isn't that what we are trying to do. Become reporting. Expect higher standards from companies that are reporting. If we are to assume a trillion $ valuation should'nt our Board of directors act as such.

Just food for thought gang, nothing bad meant by this thread just trying to get feed back.


IP: Logged | Report this post to a Moderator
stockfreak
Member


Rate Member
Icon 1 posted      Profile for stockfreak     Send New Private Message       Edit/Delete Post 
hello all i have only been in this stock for about 4 months i have 500,000 shares but i got in at .0007 that sucks but im in. i really have been confused with this stock not moving at all but down and back up but im hanging long. i wish i new if it could possible even hit .01 within the next few months what does everyone think.
IP: Logged | Report this post to a Moderator
secman
Member


Rate Member
Icon 1 posted      Profile for secman     Send New Private Message       Edit/Delete Post 
quote:
Originally posted by stockfreak:
hello all i have only been in this stock for about 4 months i have 500,000 shares but i got in at .0007 that sucks but im in. i really have been confused with this stock not moving at all but down and back up but im hanging long. i wish i new if it could possible even hit .01 within the next few months what does everyone think.

Kiss the $350 bye bye? Seriously just write it off as a loss if it even is that as I lose easily lose and make 350 on my swing trades.


IP: Logged | Report this post to a Moderator
VNGNTN1
Member


Rate Member
Icon 1 posted      Profile for VNGNTN1     Send New Private Message       Edit/Delete Post 
WELL
My post was mostly for those showing up here of late! and so far speaks for itself.
VAN

IP: Logged | Report this post to a Moderator
Upside
Member


Icon 1 posted      Profile for Upside     Send New Private Message       Edit/Delete Post 
originally posted by stockfreak:
quote:
hello all i have only been in this stock for about 4 months i have 500,000 shares but i got in at .0007 that sucks but im in. i really have been confused with this stock not moving at all but down and back up but im hanging long. i wish i new if it could possible even hit .01 within the next few months what does everyone think.

I wouldn't go so far as to write it off just yet but I wouldn't get my hopes up too high either. Some things are happening with this company and depending on whose side of the story you believe, they are either very good things that might make us all wealthy or they're nothing more than a smokescreen to cover a massive case of fraud. I suspect the truth lies somewhere in between the two. Why bother selling now? At best you'll get 100 - 150 dollars back less commission. Stick around and join the fun and frustration that is CMKX.


IP: Logged | Report this post to a Moderator
noahltl
New Member


Rate Member
Icon 1 posted      Profile for noahltl     Send New Private Message       Edit/Delete Post 
quote:
Originally posted by stockfreak:
hello all i have only been in this stock for about 4 months i have 500,000 shares but i got in at .0007 that sucks but im in. i really have been confused with this stock not moving at all but down and back up but im hanging long. i wish i new if it could possible even hit .01 within the next few months what does everyone think.


Stock, I was about to tell you that you probably don't want to know what "everyone" thinks, but one of them beat me to the punch. (Not you UP, rchaud98) If you are comfortable with losing your $350 investment, then you have taken a risk in the best stock you could have chosen to see astronomical increases. If you are uncomfortable, then you should probably not be investing in "pinks". Can any of us assure you that you will see any increase in the near future? No. All of the shareholders are eagerly awaiting PR's on the future of this company. Moving from pinks to a higher board is a complex issue alone, without the probability of a naked short share situation. It will require patience, on top of your commitment to remain long on this stock. If you have both of those, welcome aboard. If not, the bashers here will scare you into selling like they have a few others. IMO.

[This message has been edited by noahltl (edited September 15, 2004).]


IP: Logged | Report this post to a Moderator
stockfreak
Member


Rate Member
Icon 1 posted      Profile for stockfreak     Send New Private Message       Edit/Delete Post 
thanks alot upside little better response then secman gave me. i am trying to learn more about this stuff and i am just spending fun money and i hope we all do good i dont think i could ever get wealthy with 500,000 shares but a little profit will be great i really would like to purchase another 500,000 and just stick around in case it gets up to .03 or .05 someday. and 1 more thing is there a site or something that could educate me a little more on trading i dont want to always bother people here i would like to help sometimes also.
thanks hope to talk again and thanks for not being rude there is alot of them people around here. LOL

IP: Logged | Report this post to a Moderator
slpj1960
Member


Rate Member
Icon 1 posted      Profile for slpj1960     Send New Private Message       Edit/Delete Post 
(This post and question is for the people that spend a whole lot of time knocking this stock) I appreciate your trouble in trying to save a person like myself from a stock like this that I believe in, but have a question for you all if you dont mind. With all of the free time that you spend here trying to help me "Would any of you like to tell me about a stock that you do like?" If you all are trying to look out for people like me who have to work alot, you wont mind answering this question.
IP: Logged | Report this post to a Moderator
Upside
Member


Icon 1 posted      Profile for Upside     Send New Private Message       Edit/Delete Post 
I currently like BLYC and TFCT. BLYC is more long term, TFCT is short to mid.
IP: Logged | Report this post to a Moderator
dwman
Member


Member Rated:
4
Icon 1 posted      Profile for dwman     Send New Private Message       Edit/Delete Post 
quote:
Originally posted by secman:
Kiss the $350 bye bye? Seriously just write it off as a loss if it even is that as I lose easily lose and make 350 on my swing trades.

Secman, you are always harassing people. If you are going to bash, pleas structure your sentences so that we can understand the thought you are trying to convey.


IP: Logged | Report this post to a Moderator
noahltl
New Member


Rate Member
Icon 1 posted      Profile for noahltl     Send New Private Message       Edit/Delete Post 
.0004 close. Tape painted with a $20 trade. Wonder which MM did that? And why?
IP: Logged | Report this post to a Moderator
slpj1960
Member


Rate Member
Icon 1 posted      Profile for slpj1960     Send New Private Message       Edit/Delete Post 
Thanks Upside, I am in BLYC and like them also.
IP: Logged | Report this post to a Moderator
Upside
Member


Icon 1 posted      Profile for Upside     Send New Private Message       Edit/Delete Post 
They're a good company with a lot of things happening. Might take a little time but eventually I expect to see this one at .10 or so.
IP: Logged | Report this post to a Moderator
pharmdman
Member


Rate Member
Icon 10 posted      Profile for pharmdman     Send New Private Message       Edit/Delete Post 
quote:
Originally posted by slpj1960:
(This post and question is for the people that spend a whole lot of time knocking this stock) I appreciate your trouble in trying to save a person like myself from a stock like this that I believe in, but have a question for you all if you dont mind. With all of the free time that you spend here trying to help me "Would any of you like to tell me about a stock that you do like?" If you all are trying to look out for people like me who have to work alot, you wont mind answering this question.

Very nice post... i hope you don't mind, but I'm copy/pasting to another thread.


IP: Logged | Report this post to a Moderator
Highwaychild
Member


Icon 1 posted      Profile for Highwaychild     Send New Private Message       Edit/Delete Post 
quote:
Originally posted by slpj1960:
"Would any of you like to tell me about a stock that you do like?"

Very good question.But I think that might actually might take time away from their bashing.Also would show how good they aren't.
In pennyland it's tough to pick the next runner.In sub-pennyland(and Pink sheets) it's tougher.I would love to see a know-it-all show us a stock trading @ .0003-4 that has as much to offer as CMKX does(other than ITDJ) right now.They can't.As much as people love to cry about how bad this is,CMKX does have a direction.DIAMONDS.
Just watch,people will bash this.


IP: Logged | Report this post to a Moderator
RaiderJR
Member


Rate Member
Icon 1 posted      Profile for RaiderJR     Send New Private Message       Edit/Delete Post 
I will hold this stock til it reaches 20 billion dollars. At .0003 yesturdays close and 800 billion shares it is still at less that 300 million dollars.

Does anyone here think 109 anomolies could produce 20 billion in diamonds?


I know Wallace is going to chime in it is unproven. I know. That is what speculation is about. If you wait til it is proven then you will lose a large part of the potential profits.

If this stock reported a great find in the morning, do you think Wallace could buy by .0005, before it bounces to .001. Maybe. But I work in the daytime.

If you aren't in now you could lose half your profit or more when this hits.


Remember 20 bill/ 800 bill = .025


All the naysayers who think we have lost all potential just can't add.

Now, it is possible this is a scam. It is possible all the press releases are bogus. But that would be 100% fraud.

1. If no drilling into kimberlite = fraud

2. If no mineral rights = fraud.

3. If knowingly extending OS past possible return = fraud.


Why would Glenn come in to keep us between the lines in the sale of rights, and then turn around and commit fraud?


The key is the PR. Any pr moves this into the realm of open fraud. Does anyone think any attorney is stupid enough to represent a company that is stupid enough to tell us they are drilling kimberlite in Canada when they arent.


You bashers just don't get it. I appreciate your carefulness but every step pr'd is the view of a company trying to find diamonds.

Why Wallace wants a company less than a year young to look like anything more than a shell is beyond me.


IP: Logged | Report this post to a Moderator
Highwaychild
Member


Icon 1 posted      Profile for Highwaychild     Send New Private Message       Edit/Delete Post 
Also would like to add most stocks that have been oppressed down to .0001 do a reverse split.
What did CMKX do?Moved up 1000%... but back down to a gap up 300-400%.What's wrong with that?

IP: Logged | Report this post to a Moderator
will
Member


Icon 1 posted      Profile for will     Send New Private Message       Edit/Delete Post 
Now now, child, I have told you about a few I liked, and I think they worked for you ???
Right now I'm liking QANT and watching QTFI. Trying to but a lot of pigslop, CDVY @ .0005, IVOC @ .0009, maybe a little lower, ADVC @ .0009.
They all suck, but if you're patient and can grab them at the lows I think you can make $.
quote:
Originally posted by highwaychild:
Very good question.But I think that might actually might take time away from their bashing.Also would show how good they aren't.
In pennyland it's tough to pick the next runner.In sub-pennyland(and Pink sheets) it's tougher.I would love to see a know-it-all show us a stock trading @ .0003-4 that has as much to offer as CMKX does(other than ITDJ) right now.They can't.As much as people love to cry about how bad this is,CMKX does have a direction.DIAMONDS.
Just watch,people will bash this.


IP: Logged | Report this post to a Moderator
RaiderJR
Member


Rate Member
Icon 1 posted      Profile for RaiderJR     Send New Private Message       Edit/Delete Post 
Were any of you part of the old cmkx board where an investor called the lab to see if they had finished the samples.

The lab refused to comment except they did verify they had samples.


If this is a fraud CMKX, The Lab, UCAD, Gemm, and a whole host of other companies have committed fraud also.

You need to get a life other than investigating stocks because no group of companies does what you accuse CMKX of.

By the way, UCAD has confirmed puplicly they are working with CMKX, and last I looked they are on Canadian govt maps.

Get a life people.


IP: Logged | Report this post to a Moderator
will
Member


Icon 1 posted      Profile for will     Send New Private Message       Edit/Delete Post 
Hey Van, how you doing? Good to see you. I think I got your post, sometimes I am just negative and bash, and other times I have serious concerns that are being interpreted by some as negative.
No big deal either way. There are open questions, and I also think people assign positive spin to things that could or could not be positive.
All's well, looking for a real move in the PPS.

IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post 
quote:
Originally posted by slpj1960:
(This post and question is for the people that spend a whole lot of time knocking this stock) I appreciate your trouble in trying to save a person like myself from a stock like this that I believe in, but have a question for you all if you dont mind. With all of the free time that you spend here trying to help me "Would any of you like to tell me about a stock that you do like?" If you all are trying to look out for people like me who have to work alot, you wont mind answering this question.

i post them all the time.....
i don't sit around pumping them, cuz i am too busy looking for more......
if you guys want to pump them, that's fine with me as long as you stick to FACTS....LOL


IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post 
remember Raider, if they find 20 Billion in diamonds in the ground, they still won't go to .025 and hold for everybody to sell.....it might bounce there or even higher for a little while....but it's not likely to be long enough for the float to turn over
i wish it worked that way, but it doesn't....

part of the pumper game is to convince others that the value will eventually be much greater than is reasonable, that way when the price does top out, it's easier to sell before everybody else realises it happened...that's why i almost never post buy/sell prices....

look at MDSEF--they have PROVEN gold in the ground worth well over 10 times the market cap.....

[This message has been edited by glassman (edited September 15, 2004).]


IP: Logged | Report this post to a Moderator
RaiderJR
Member


Rate Member
Icon 1 posted      Profile for RaiderJR     Send New Private Message       Edit/Delete Post 
Exacly right,

I think if we can sell at a penny that will be good. That is very likely. Maybe more.

But I purposely used the extreme 800 billion, I think that is stretching it.

If everything goes right this company will be worth much more than 20 billion. Double or triple that.

I still think it is a great investment and will wait it out.

Well worth it.


IP: Logged | Report this post to a Moderator
Wallace#1
Member


Member Rated:
4
Icon 1 posted      Profile for Wallace#1         Edit/Delete Post 
Van wrote:

OTHERS who post infrequently1-2)
Noah
WWJD
---------------------------------------------

What?!?!? Are you looking at this CMKX thread? LOL


IP: Logged | Report this post to a Moderator
Wallace#1
Member


Member Rated:
4
Icon 1 posted      Profile for Wallace#1         Edit/Delete Post 
Raider wrote:

I still think it is a great investment and will wait it out.

Well worth it.
---------------------------------------------

Your odds are probably a lot better in a Las Vegas casino, and, that is no "investment" either!


IP: Logged | Report this post to a Moderator
bill1352
Member


Member Rated:
4
Icon 1 posted      Profile for bill1352     Send New Private Message       Edit/Delete Post 
there is a lot about this stock that could be better but these bashers and a certain few that go way over board secman for 1 really need a new hobby. lets have a poll, how many ppl in here have over 2 grand tied up in this stock??? i have about 1 grand a bit less in it & i got in late. mine are at .0004 about the same amount i bet on football every yr. now if i hit 1/2 my bets i'll get a return of about 3 grand as i only bet a parley card. if the grand i bet on cmkx hits i think my return will be a bit more then that. so what are these bashers really trying to accomplish. the next thing ya know they'll be trying to tell me that the Pats -2 against the Cards is a bad bet
IP: Logged | Report this post to a Moderator
Highwaychild
Member


Icon 1 posted      Profile for Highwaychild     Send New Private Message       Edit/Delete Post 
quote:
Originally posted by will:
Now now, child, I have told you about a few I liked, and I think they worked for you ???
Right now I'm liking QANT and watching QTFI. Trying to but a lot of pigslop, CDVY @ .0005, IVOC @ .0009, maybe a little lower, ADVC @ .0009.
They all suck, but if you're patient and can grab them at the lows I think you can make $.

I've been out.
Will, I'm not talkin' about pessimists,I'm talkin' about wining, crying,nothing-ever-good to say BASHERS.
HA HA HA.You and GMAN got a guilty conscience?LOL


IP: Logged | Report this post to a Moderator
Wallace#1
Member


Member Rated:
4
Icon 1 posted      Profile for Wallace#1         Edit/Delete Post 
How many of you remember this:

Casavant Mining Kimberlite International Announcement
LAS VEGAS--(BUSINESS WIRE)--Feb. 6, 2003--Casavant Mining Kimberlite International Inc. (OTCBB:CMKM) announced today that its time shared lease agreement of an ancient Chinese jade collection was appraised by experts and a random sampling of the overall collection was authenticated by Elizabeth Childs-Johnson.

And this:
Casvant Mining Kimberlite International Announces Cancellation of Jade Collection
LAS VEGAS--(BUSINESS WIRE)--April 7, 2003--Casavant Mining Kimberlite International, Las Vegas (OTCBB:CMKM), management today announced that it has cancelled the acquisition of the ancient Chinese jade collection as previously stated in CMKM's 14c, which stated on Dec. 30, 2002, the company acquired $50 million dollars worth ...

And this:
The mystery surrounding CMKM emanates largely from its decision to cease providing audited financial information to shareholders and potential investors. The Company stopped filing public reports in July 2003, shortly after it failed to file its Form 10-Q report for the quarter ended March 31, 2003. On May 16, 2003, CMKM advised the SEC that the March 31st report would be filed late (but no more than five days late) because it needed "further time" to prepare financial statements. Late turned out to be never.

And this:
Prior to November 25, 2002, the entity now known as CMKM was involved in a completely different enterprise. The Company, which was then called Cyber Mark International, Inc., had been in the electronic game business, although without appreciable success. According to its Form 10-Q for the quarter ended September 30, 2002, Cyber Mark's assets consisted of $344 in cash. There were no operating revenues. At the time the Company had approximately 352 million shares outstanding. The balance sheet was dismal - but at least there was a financial statement for investors to review.

And this:
Consequently, investors must rely upon fragmentary information in the "Information Statement," which asserts that the Casavant mineral claims were valued at $10 million "in situ" at the time of the merger, not including pre-merger expenses of $3 million. It did not say how Casavant arrived at that valuation.


And this:
In the absence of public filings, information on CMKM has come via a series of press releases. Unfortunately, those press releases reveal little information that would demonstrate the viability of CMKM's business or the value of its stock.

And this:
How many of these shares have been issued? That remains a mystery, but as a rule companies do not tend to dramatically increase their authorized capital unless they have issued all, or nearly all, of the available stock.

And this:
There are other pieces of information including drilling equipment that was said to be in use when they later stated it hadn't even reached the drilling site some considerable miles distant.
--------------------------------------------

The above things are just starters as to verifiable information. Now, tell me why anyone in their right mind would put money into CMKX stock.


IP: Logged | Report this post to a Moderator
Highwaychild
Member


Icon 1 posted      Profile for Highwaychild     Send New Private Message       Edit/Delete Post 
quote:
Originally posted by Wallace#1:
[B]
The above things are just starters as to verifiable information. Now, tell me why anyone in their right mind would put money into CMKX stock.
[B]

Because what you're laying down is old news.I put $ into it to make money off diamonds,not games.DIAMONDS.

from another CMKX investor...

based on the FACT that we have a TDEM ariel survey with hundreds of anomolies..

based on the FACT that we have financing from several sources (private financing and partnerships) to drill these targets

based on the FACT that we have a well respected lawyer overseeing this process..

based on the FACT that we have 1.4+ million acres of claims in an area where Debeers is serious about diamond mining and where other companies are finding diamonds as we speak..

based on the FACT that well respected geologists have agreed on the potential of the Sask area for yielding economically feasible diamond mines..

based on the FACT that Debeers has a valuation on one claim that is between 40-80 billion dollars..

based on these FACTS..it is easy for me to eliminate most of the noise and imagine that just ONE cmkx claim could be conservatively valued at the low end of this range..

now take a 40 billion dollar valuation with an O.S. of between 200 and 800 billion shares (even with no NS problem)..and (even without considering any dividend questions..lol) and do the math..

this is perhaps one way to explain why some of us are smiling even when there seems to be so much confusion all around us..

but I have to admit I have to remind myself every now and then..because it is easy to get caught up in all of the emotion..

now this is not to say that I believe we will only have just one mineable target..or that we have an 800 billion O.S..or that there is not a N.S. problem..or that the dividends aren't important..

[This message has been edited by highwaychild (edited September 15, 2004).]


IP: Logged | Report this post to a Moderator
Highwaychild
Member


Icon 1 posted      Profile for Highwaychild     Send New Private Message       Edit/Delete Post 
You have anything from ,oh,say,1982 on CMKX you'd like to share with the masses Wally?

How far back you going to assail this?

You need help,get a life man.


IP: Logged | Report this post to a Moderator
VNGNTN1
Member


Rate Member
Icon 1 posted      Profile for VNGNTN1     Send New Private Message       Edit/Delete Post 
quote:
Originally posted by will:
Hey Van, how you doing? Good to see you. I think I got your post, sometimes I am just negative and bash, and other times I have serious concerns that are being interpreted by some as negative.
No big deal either way. There are open questions, and I also think people assign positive spin to things that could or could not be positive.

All's well, looking for a real move in the PPS.



I KNOW
Just helping new people understand what they are reading, no particular opinion weather pos/neg opinions right or wrong.I remember a time when the board was generally positive even with negative views expressed and everyone hammered out all that was said and came to a consensus.
VAN

[This message has been edited by VNGNTN1 (edited September 15, 2004).]


IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post 
quote:
Originally posted by highwaychild:
You have anything from ,oh,say,1982 on CMKX you'd like to share with the masses Wally?

How far back you going to assail this?

You need help,get a life man.


hi-way....what are we gonna do with you????
wallace is just trying to point out to you that people don't change very often.....
every once ina while one gets elected president and becomes superman, but usually when somebody hires a lawyer it's to GET OUT of trouble....LOL


IP: Logged | Report this post to a Moderator
RaiderJR
Member


Rate Member
Icon 1 posted      Profile for RaiderJR     Send New Private Message       Edit/Delete Post 
What happens when a company overstates resources

quote:

Capital Hill Gold, Inc. Retracts Mineral Reserves, Economic Projections and Restates Historical Information
7/15/2004 1:11:10 PM
VANCOUVER, British Columbia, Jul 15, 2004 (PRIMEZONE via COMTEX) -- Capital Hill Gold, Inc. ( CAGI ) (the "Company") confirms that it has been contacted by the British Columbia Securities Commission (BCSC) with respect to the Company's disclosure for compliance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101). The BCSC has requested that the Company retract and/or restate the information previously disseminated to the public.

Retraction of Mineral Reserves and Economic Projections

In its recent news release and on its website, the Company disclosed mineral reserves and economic projections based on these reserves. This disclosure was contrary to NI 43-101 for a number of reasons. For example, the Company's disclosure of mineral reserves used noncompliant categories and was not supported by an independent technical report. In addition, the mineral reserve statements and economic projects were not based on at least a current preliminary feasibility study.

As a result, the Company specifically retracts its previous disclosure of mineral reserves along with the economic projections based on these estimates. The public should not rely on the previously disclosed estimates and projections until they have been independently verified and supported by a compliant NI 43-101 technical report and a current/updated preliminary feasibility study.

The Company also reports that there were numerous errors in its Research Profile that are unsubstantiated and misleading statements. The Company has removed the Research Profile from its web site for amendments by a Qualified Person as defined under NI 43-101.

Restatement of Historical Information

In its recent news release and on its website, the Company disclosed mineral resources that were also contrary to NI 43-101. For example, the mineral resources used noncompliant categories and were not supported by an independent technical report. Previous releases were based on historical information on the Mexican Hat property which is believed to be reliable but the accuracy of which cannot be guaranteed by the Company.

The Company is not treating these resources as current NI 43-101 defined resources, has not done the work necessary to verify the historical estimates and has not conducted any of its own resource estimates on the property. Therefore it is not able to say what portion of, if any, of the historically supported material would meet present reporting requirements under NI 43-101. As a result, these historical estimates should be considered exploration targets for further work and the public should not rely on the previously disclosed estimates until they have been independently verified and supported by a compliant NI 43-101 technical report.

Restatement of Exploration Potential

The Company based its recent exploration potential comments in addition to exploration (drilling and trenching) on the Victoria fault, the Linda and 16 zones as a result of a review of the following historical information.

On February 10,1997 Jean Descarreaux, Ph.D. P Geologist reported that in 1990 Placer Dome US Inc. conducted a *geological reserve study of the most important known gold-bearing zones on the Mexican Hat Properties. Included in his report was the following summary:

"A structurally controlled, volcanic rock hosted gold occurrence has been documented at the Mexican Hat property. The mineralogy and geochemistry are indicative of a epigenentic epithermal system. The gold is hosted by irregular fracturing. Gold is also found in low angle fault zones.

62,120 feet drilling has defined a kriged drill indicated *resource of 154,000 ounces of Gold. The total near surface *geologic resource is estimated at 300,000 ounces of Gold. Preliminary pit optimizations yield between 44,000 and 103,000 recoverable ounces of Gold from material grading 0.28 to .033 opt Au, with strip rations ranging from 4.4:1 to 5.0:1."

The potential qualities and grades referred to above are conceptual in nature. There has been insufficient exploration by the Company to define a mineral resource on the property and it is uncertain that further exploration will result in discovery of a mineral resource on the property.

Method Used

A (see Note) geological reserve study was performed on that part of the Mexican Hat Property within the limits of Sections 5 through 24, an area 950 by 1,950 feet in extent that includes the major identified gold bearing zones.

Three classifications were used:

Indicated: Gold Bearing material within 50 feet of drillhole or Trench Control

Inferred: Gold bearing material beyond 50 feet but within 100 feet of drillhole or trench control, and its extension where continually can be geologically projected to additional drillhole or trench control

Possible: Gold bearing material projected beyond 100 feet of drillhole or trench control

Estimation methods that rely on constant grade variability (polygonal, inverse distance weighting, and ordinary kriging) will produce dubious results for this deposit. Therefore indicator kriging was chosen as the estimation method.

Kriging is an acceptable method of quantifying mineral resources. While the company is in possession of a summary report of the results of kriging the Mexican Hat mineralization, detailed information such as block models is not available.

On August 25,1989 Matt Gray P. Geo. on behalf of Placer Dome US Inc. prepared a project review in which he summarizes:

"A structurally controlled gold occurrence has been documented at the Mexican Hat Property. The mineralogy and geochemistry are indicative of an epigenetic epithermal system. Surface mapping and drilling have identified six gold bearing zones. The aerial extent of the gold system identified to date is roughly 2,500 by 1,500 feet. A minimum *permissive target of 10.340 million tons at a weighted average grade of .0358 opt au (361,894contained ounces) is inferred from 41 reverse circulation and 6 diamond drillholes. Additional work is warranted by the results of this program."

The potential quality and grade referred to above is conceptual in nature. There has been insufficient exploration by the Company to define a mineral resource on the property and it is uncertain that further exploration will result in discovery of a mineral resource on the property.

On April 22,1996 Robert L. Akright Geological Consultant prepared a report at the request of Kalahari Resources, Inc. the subject of which were the Mexican Hat Properties. In this report he confirmed the amongst other things the following:

"There is an untested zone roughly cone shaped directly beneath the Mexican Hat Peak which could contain 2.5-3.0 million tons of material. Rock samples collected from the surface of this zone and surrounding zones contain anomalous gold values between .006 - 0.030 oz. Au./ton and the zone is bounded by drill holes with significant intercepts."

Again on April 22,1999 Robert L Akright Geological Consultant confirms the exploration potential and further states that "it is likely the top of the hill a cone shaped block, could be gold mineralized and with drilling could be moved from a waste rock to a *reserve category, thus increasing *reserves and reducing the stripping ratio."

The potential qualities and grades referred to above are conceptual in nature. There has been insufficient exploration by the Company to define a mineral resource on the property and it is uncertain that further exploration will result in discovery of a mineral resource on the property.

Note: terms not recognized under NI 43-101

On Behalf of the Board,
KENT CARASQUERO
Secretary, CFO

The information provided above has been reviewed CK Ikona, P Eng, a Qualified Person as defined by NI 43-101 who believes it accurately reflects information contained in available historical reports.

Cautionary Statements:

Statements contained in this press release, which are not historical facts, are forward looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission. These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.




IP: Logged | Report this post to a Moderator
  This topic comprises 75 pages: 1  2  3  ...  29  30  31  32  33  34  35  ...  73  74  75   

Post New Topic  New Poll  
Topic Closed  Topic Closed
Open Topic   Feature Topic   Move Topic   Delete Topic next oldest topic   next newest topic
 - Printer-friendly view of this topic
Hop To:


Contact Us | Allstocks.com Message Board Home

© 1997 - 2021 Allstocks.com. All rights reserved.

Powered by Infopop Corporation
UBB.classic™ 6.7.2

Share