posted
Bancorp International, Inc. Stock Price Undervalued Based on Assets and Partnerships
LONDON, Jul 13, 2005 (PRIMEZONE via COMTEX) -- Bancorp International, Inc. (Pink Sheets:BCIT), a high growth, diversified mining company operating in multiple regions in Venezuela, today announced that it believes the current global economic and political climate underscore how valuable the company is, especially when the company's diversified holdings in gold and diamond mining operations are carefully weighed. "We believe our stock price at present does not reflect the true value of our company -- we have significant gold and diamond assets that we are just starting to actively mine and an established formal relationship with the Venezuelan Federal Government, that we intend to leverage as a strategic business partner moving forward," said Thomas Magnus, the CEO of Bancorp International, Inc. "We are also very much aware of the fluctuating price points that can impact the gold and diamonds markets and are weighing our options in setting up hedge funds for both minerals to offset any significant changes in pricing that might occur in the marketplace."
About Bancorp International, Inc.
Posts: 2362 | From: BEENEVERYWHERE | Registered: Mar 2005
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NEW YORK, Jun 13, 2005 (PRIMEZONE via COMTEX) --Mr. Thomas Megas, President of Bancorp International Group Inc., trading symbol (Pink Sheets:BCIT), makes this announcement in order to correct inaccurate statements made previously by Carter Care Inc, its agents, representatives and others purporting to represent BCIT and Carter Care have completed a reverse merger.
Let it be known that BCIT has never entered into any agreement, neither oral nor written or ever had any contact with Carter Care or anyone associated with Carter Care prior to June 4th 2005. Also, no such agreement has been entered into since June 4th 2005. No officer of BCIT or any of its controlling Shareholders have been involved with Carter Care prior to June 4th 2005. Upon learning of the claimed reverse merger, BCIT commenced an investigation which is still ongoing. Carter Care, upon being informed of the above by BCIT, and at the request of BCIT issued a statement. The purpose of this statement was to remedy the incorrect announcements that Carter Care had completed a reverse merger with BCIT.
At no time has BCIT issued any statement that relates to any merger or reverse merger in the last six months. BCIT has not authorized nor issued any BCIT shares to any person or any legal entity in the last five months. Any shares issued by Carter Care are without the knowledge and authority of the board of directors of BCIT and its shareholders and are therefore deemed null and void and constitute no obligation or liability on BCIT or its shareholders.
An announcement to this effect has already been made.
BCIT is currently undertaking due diligence on several possibilities for a reverse merger, one of which includes Gold-Oil rights details of which are as follows. This information would not normally be released but in the present circumstances full disclosure is appropriate. There are no letters of intent related to this exercise. Compensation for damages suffered by BCIT is an issue and is being thoroughly pursued by BCIT against those whom it considers responsible.
No direct announcement was made by BCIT earlier because of the difficulty of ascertaining what has transpired. The inquiry is ongoing and BCIT will announce its conclusions as soon as possible.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based largely on Bancorp International Group Inc. Expectations or forecasts of future events can be affected by inaccurate assumptions and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the company's control. Therefore, actual results could be differing materially from the forward-looking statements contained herein. A wide variety of factors could cause or contribute to such differences and could adversely impact revenues, margins, profitability, cash flows and capital needs.
SOURCE: Bancorp International Group
CONTACTS: Bancorp International Group Inc. Investor Relations Barkev Kibarian (602) 770-8147
Bancorp International Group Inc Thomas Megas President
(C) 2005 PRIMEZONE, All rights reserved.
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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LONDON, Jul 11, 2005 (PRIMEZONE via COMTEX) --Bancorp International Group, Inc. (Pink Sheets:BCIT) is a high growth, diversified mining company that is presently operating in multiple regions in Venezuela today announced that it has signed a contract with Torrez Diamantes S.A. of Venezuela to purchase two diamond dredgers that are currently operating on the Orinoco River in southern Venezuela.
"This is a significant step for our company as it concretely demonstrates our intent to diversify our business model and mining operations," said Thomas Magnus, the CEO of Bancorp International Group, Inc. "This is a big step for us as it enables us to move into the lucrative diamond mining business in Venezuela -- we are purchasing two operational diamond dredgers that have a total production capacity to produce in rough form approximately over 22,000 carats of diamonds per month in one of the world's best locations for diamond dredging."
About Bancorp International, Inc.
Bancorp International, Inc. (Pink Sheets:BCIT) is a multinational mining company that locates, mines, and processes precious metals and diamonds in diverse locations around the globe. The company is operational in Venezuela at present, but plans on starting additional mining operations in other locations in Africa, Europe, and Asia. BCIT's growth model is based on acquiring the mineral rights where there are potential extensive deposits of precious metals or diamonds that can be located using the latest sophisticated mining processes such as digital imaging via satellites and airplane to minimize prospecting costs. The company's focus is on delivering long term shareholder value by developing first class mining properties that have a potential significant yield to enable the company to sustain a strong competitive advantage through many business cycles.
This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.
posted
thats all i have to say do your dd and make up your own mind i am watching this one
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
When the board announced the company was largely undervalued taken the volume of assets into consideration, BCIT was at $0,0025/sh...Now that we're at around $0,0014/sh , 2 weeks later, we could imagine we are for sure undervalued and that at this price it is a good deal!
Posts: 477 | Registered: Oct 2004
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-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot. Posts: 5320 | From: Syracuse, NY | Registered: Apr 2005
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posted
all i can say is i have watched this one for a little while. i don't know what stops me from going in. but for the first time they are actually going to start mining and doing something that is why i started to look at it again and also talk of a r/m. i just threw some dd on this post because it look devoid of info. i am not personaly in
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
Did you checked about numbers in gold and diamond value of Venezuela concessions..It's seems they're going to buy some dredging material..:
''we are purchasing two operational diamond dredgers that have a total production capacity to produce in rough form approximately over 22,000 carats of diamonds per month in one of the world's best locations for diamond dredging''
Range of price for rough diamond is about $100-$200 USD/carat. Taken gold concessions into consideration:
"Based on these estimates with full capacity mining we estimate gross annual revenue of $36,000,000 (thirty six million USD) on the current price of gold on June 10, 2005 of $424 per ounce."
Current revenues for these 2 activities could be roughly $60,000,000 USD annual...They're definitively growing. My personal feeling is that it is time to enter in. Everybody is free to think the opposite...
Posts: 477 | Registered: Oct 2004
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posted
i am not bashing i think this may be a great opportunity. i just did not want anybody to think i was pumping since at this point i am not a 100% player. by the wat impat great post i lked that good reasearch lol
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
And I like undervalued companies...Did you check on wwwt this morning ? Sometimes it takes time, as for wwwt, but it is always a good deal! My patience has been rewarded !
Posts: 477 | Registered: Oct 2004
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Huges numbers should lead to a nice run. Look at the low trading volume this morning, when it will rise, we will go north straight on...
Posts: 477 | Registered: Oct 2004
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trying to get filled at 16 not happening, i love the chart, ready for it to go north in a hurry in the next few days, just a slow monday
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot. Posts: 5320 | From: Syracuse, NY | Registered: Apr 2005
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posted
Taken $60 millions as potential revenues into consideration, with approx. 300 millions outstanding shares(my evalutation) after the last dilution process, 0,02 $/sh is about 1/10 of sales, that is a very conservative number...Here we will go!
Posts: 477 | Registered: Oct 2004
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posted
Nice volume today, almost 100mil shares, and nice upgrade confirms that we are at a new bottom line...as undervalued, this is going to move up easily
Posts: 477 | Registered: Oct 2004
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posted
I do believe they will rise and the stock will bounce back up. They have some good prospects and for what its worth now I do hope to see it rebound to 0.50 or so; glad I got in now.
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Cross fingers for u. I sold this mine this morning. Something stink about the current O/S number. Maybe a massive fraud.. Check on IHub...talks about the story is available there and do your DD! GL
Posts: 477 | Registered: Oct 2004
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I have friends in London. I'll ask one of them to go to the office location and report back.
About Bancorp International, Inc.
Bancorp International, Inc. (Pink Sheets:BCIT) is a multinational mining company that locates, mines and processes precious metals and diamonds in diverse locations around the globe. The company is operational in Venezuela at present but plans on starting additional mining operations in other locations in Africa, Europe and Asia. BCIT's growth model is based on acquiring the mineral rights where there are potential extensive deposits of precious metals or diamonds that can be located using the latest sophisticated mining processes such as digital imaging via satellites and airplane to minimize prospecting costs.
Bancorp's focus is on delivering long term shareholder value by developing first class mining properties that have a potential significant yield to enable the company to sustain a strong competitive advantage through many business cycles. For further information: 15 Onslow Gardens, Suite 7, London, United Kingdom, SW73AW
-------------------- You can't afford to risk, what you can't afford to loose. Posts: 2422 | From: dc | Registered: Jun 2005
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