After reading the race report, I had to stop by one more time to let everyone see a different report from the race. I guess maybe people just see what they want to see. Investors have to decide which report might be more accurate.
****************************************Freedom's report from the races
Posted: Tue Oct 05, 2004 1:09 am
by Freedom2sail
Gemologist
Joined: 18 Jun 2004
Posts: 662
Location: Chicago Area
Okay here is the information I heard while at the races in Joliet on Saturday October 2nd. Feel free to confirm or disconfirm any of what is written here. That is, after all, the value of posting information in a public forum.
First let me report that there were no members of management at these races other than Ron Casavant. The single most valuable aspect of the information that I obtained was based on the fact that it was acquired from individuals who had attended multiple races and had many conversations with management. Most of what I heard was essentially a re-affirmation that much of what is reported on the boards can be substantiated by individuals who were present when it was said by someone in management. Everyone’s spirits were very high and most seemed very confident.
Ron Casavant
I met Ron briefly but did not carry on a conversation with him. He struck me as having a genuinely humble disposition. Other shareholders were saying that he was being especially tight lipped. His demeanor and body language seems to convey that he was not looking to get into any conversations. He could have simply been busy with the race. It was speculated however that management didn’t come because we are very close to bringing this thing home and they didn’t want to risk any mis-steps.
Topogigo
Spoke with Topogigo (Anthony) within a group setting. Anthony is a CMKX employee who is the driver for their Humvee. During a conversation between him, I, another shareholder and Ed Miller, Anthony talked towards Ed about reports in a hushed tone that UC was supposedly seen at the Indy and Dallas races. He was betting that UC would show up in Chicago due to the fact that Jeff had just raced his fastest time ever. This led me to believe that UC was coming to the races covertly because he simply wanted to be there for the races and had a hard time staying away. I took the opportunity to ask why he hadn’t been attending. Ed said that he was advised by ‘others’ not to attend, not because of what he might say but what others might report that he said. Anthony nodded in agreement.
John from Bloomington, IL.
Spoke to a shareholder named John from Bloomington, Il. who attended the TN., Indy and Chicago races. He had spoken directly to Rendall Williams at the TN. race. What he reported of the conversation confirmed that he heard everything that we had seen posted about statements Rendall had made at prior races which I won’t repeat to avoid redundancy and save time. He saw the piece of Gold Rendall was passing around and heard him say that we plan on pulling one kilogram of gold a month out of the Yellow River Mine. John said he heard from Jose that Kazmurski was at the Sask. meeting. Jose later neither confirmed nor denied this and may have side stepped the question.
El Camino (Jose)
Jose struck me as a very calm, sincere and confident individual. I’ve never taken the time to read his posts so this was really my first impression of the guy. We talked one on one and in group settings for a good hour. I would venture to say this is a man of character. His father was an electrical engineer who immigrated to the states when he was a boy. He said his father was unable to get a job due to ‘racism’ and they ended up in the Bronx on welfare where Jose grew up. He is probably in his late 40’s. He said he got himself out of the Bronx and gave me the impression of being relatively successful in his investments (e.g. he said he receives $500 monthly from a GM investment). He mentioned this when people were asking him about exactly how long they should hold. His point being, “why would I ever sell GM?” He has a degree in music and theology and will be giving the benediction at the shareholders meeting in Vegas. He is not an ordained minister. Said he never felt called to be but it was evident that he feels strongly about his faith.
Continued in the next post...
« Last Edit: Oct 4th, 2004, 9:48pm by bluediamonds » Logged
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bluediamonds
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Re: FREEDOM'S REPORT FROM THE RACES
« Reply #1 on: Oct 4th, 2004, 9:47pm »
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He was at the Saskatchewan meeting. He had a laptop set up with all the pics being shown in a slideshow. I set next to him as he narrated different parts of the trip. He was obviously practiced at not saying too much and not answering certain questions.
He said the first part of the trip was entirely fishing. And yes, Roger Glenn was up there for the fishing part of the trip. I saw pictures of him in a red sweatshirt hanging out with the guys at the cabin(LOL). I also saw pictures of Ed Dhonau and Rendall Williams at the fishing part of the trip.
Jose said the second part of the trip was strictly business meetings in which the shareholders were not a part. He side stepped a question about who all was there but mentioned that there were 18 in all including 4 shareholders. Jose said it was originally his idea and he called Sterling, who he has some history with, and asked if he wanted to go. It was also rumored around the race that Kazmurski from Cameco who also sits on UCA’s board was at the Sask. meeting. Jose would neither confirm nor deny this and side stepped the question about him and the others. He acknowledged only those in the photos. I regret not pushing a bit more on this point because I feel in retrospect I might have gotten a bit more conversation out of this point.
He also had a picture of a cracked drill bit. Circumstantial evidence to support the rumor of the cracked drill bit. So know we know there was a cracked drill bit but what that means is still pretty open. I know people love to believe that we hit this huge pocket of diamonds or a really big one but that seems unlikely and illogical to me. Possibly a flaw in the metal or it was poorly cast or it could’ve been operator error and they were just pushing it to fast and hard.
He gave the distinct impression that he had insights that he could not share. I hope that if that is true UC has had the forethought to give these guys employee/insider status. I believe it probable that these guys know more then we do judging from their behavior and the fact that they have attend multiple functions in which they’ve interacted with management.
I asked about whether Dhonau was the majority shareholder for UCAD and if he had started UCAD. He factually stated that he was and that he had. He said that he initially approached Rendall Williams when he was running Barrington Foods and took over the company. Dhonau apparently liked what he saw in Williams and kept him on. Jose said Barrington foods was a company that was in part intended to feed the hungry.
During our conversation Ed Miller was present for most of the time. He was mostly quiet in the group setting. I corralled him individually later but I’ll get to that. When I asked Jose if he thought the O/S was 800 billion they both were quick to respond with a “No, no way.” They wouldn’t elaborate but stated it as if they had information that allowed them to know it for certain. The only other statement Jose made was the “UC has a responsibility to continue to retire shares.” The latter statement was stated in a very deliberate and scripted way. Take it for what it is worth.
Ed Miller
Now here is a man who knows CMKX and seems very confident in the stock. Most of what he shared with me were based on conversations Ed Dhonau had with him and other shareholders at the Dallas race.
He confirmed that Dhonau started and owns the majority of UCAD. He said that Dhonau is the deep pockets money behind this whole deal with CMKX. Apparently Dhonau comes from the Valvoline family as in Valvoline Oil. Ed said at age 22 he walked in and fired the CEO and took over. He also said Dhonau was in college at age 14. While Jose said that CMKX is central to everything that is happening Ed said that Dhonau’s the money and is calling the shots. . He said that UC and Dhonau have a close friendship and that he was the single largest shareholder of CMKX…with his own private money, not including Nevada Minerals. He said he thought his position must be huge and was surprised that Green Baron wasn’t the single largest shareholder!
He said that UCAD management was in Ecuador during the race weekend looking at picking up a ‘few’ goldmines. He said all the mines were actively producing. He said the Dhonau began picking up goldmines because he wanted CMKX to have a revenue stream now, not when the Canada properties started producing. He said they had picked up one mine for a song, $60,000 dollars. Damn, I could’ve gotten financed for that. One thing Ed brings to the table is connections. Apparently this guys is networked worldwide including with the Ecuadorian government. He also said miners in Ecuador usually make $70 a month and that Dhonau opted to pay them $140 a month. He said that when these guys go back to their villages they live like kings. Miners in that country are already considered to be highly paid and with Dhonau they make double.
Regarding UCAD itself he said the Rachael property is really about the processing plant. He said that they have mining companies lining up already. UCAD keeps 11% of whatever they process and that’s incentive to the whole deal.
He said that there will be no merger between UCAD and CMKX and that they won’t touch us with the present share structure. He wouldn’t elaborate on precisely what that meant. He did say that CMKX would have to be fully reporting for a year first.
He also said the Rendall told him the next move for UCAD is to the NASDAQ and that this process is in the works. He thought that UCAD has the a potential to be a $30 stock. He stated CMKX’s next stop was the OTCBB.
Regarding the O/S he said that companies can base the divi’s on whatever they want, the O/S, the A/S, the float. They can give it to you and not me, whatever. He also thought that it was possible that they had already filed and were presently waiting for SEC approval so keep an eye on Edgar. He said that the history part of the financial had been completed ( the most extensive piece) and they were now working on present day financials. He also said that U.S. law prevents mining companies from including in there valuation minerals that are still in the ground. They can include things like trees and potash. Canadian owned companies can include minerals in there valuations. He said that he felt there was definitely a NSS situation as did Jose. They both anticipate a short squeeze and talked about selling 10% through the squeeze and going long on the rest as one possible scenario. He said that according to Dhonau a r/s was not an issue and to make the point he said they wouldn’t even consider doing one below .10 cents.
He said that the 10 million was from an investor from outside the companies involved based in Nevada. He said that UC worked out a deal with the head of SGGM to get Vicki Curran the job. Finally he said he believed that DeBeers was very very interested in buying us and ultimately they would. He said UC wouldn’t even talk to them and that he really doesn’t like them but the not talking to them was a strategy to increase the potential money for any future deal.
There was a phrase going around the races that I heard from Jose, Ed Miller, New York Joe (great guy and seemed to be in the know and was also a New York fireman). Whenever the topic of the Las Vegas party would come up they would look at you with a knowing smiles and say, “Just go.” And if you anyone offered any kinds of yea but’s or questions they smile a little bigger and say “Just GO.” New York Joe also assured me that he’d see me there. (LOL) It’s open to interpretation because that is the way if was left. They also said that they had a big announcement to make at the party and that Roger Glenn would be speaking as well.
Finally, when I was talking to Ed Miller, who again was basing most of what he told me off conversations he had with Ed Dhonau, he said that the GEMM dividend had not been exercised. He did however say that it had been extended. Reportedly, UC wants to wait and see what happens with Juina. It is possible he may not want to end up owning more of it. Apparently they are still having difficulties with the Ecuadorian government. Sounds like a wise and prudent move IMO. It also suggests that we can’t rule out that GEMM dividend just yet and would also explain why they bumped it back a full 6 weeks.
That’s it guys. Best of luck to all of us!
Oh yea and “Just go.”
Freedom
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