****OS 275mil ****Float is around 35mil (after excluding preferred/restricted) ****TA is Heritage * 416-364-9509 Share info provided by CEO on 05/16/2006
****Per CEO: Company is not diluting nor do they have a CD. CEO is currently self funding operations.
****IMO, reason for drop in PPS: Equitable Mining Corp Announces new Stock Symbol EQBM Toronto – Tuesday September 27, 2005 – Equitable Mining Corp. announces the change of its symbol to EQBM on PinkSheets.com The company changed its name on August 16, 2005 from The Equitable Life Investments Company Inc. to Equitable Mining Corp. to better reflect its focus on mining. In addition the company redomiciled from the Province of Ontario to the State of Wyoming. On August 22, 2005 majority of the shareholders and the directors agreed to reverse split the issued and outstanding Common Shares by twenty (20) to one (1). All new issue for the purpose of rounding up to cover beneficial shareholders due to the reverse split was also approved.
****Per CEO: We should have a press release regarding the following acquisition within a few weeks (lawyers are working on translating all documents for final signatures)
EQBM -- Equitable Mining Corp. COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES: Equitable Mining Corp. Announces Memorandum of Understanding with D.A.K. to Acquire Precious Metals Mining Project in Dalian, China with Projected Annual Revenues of $19.2 Million
Significant Deposits of Gold, Platinum, Palladium, Rhodium and Copper Identified
TORONTO, March 1, 2006 /PRNewswire-FirstCall via COMTEX/ -- Equitable Mining Corporation (Pink Sheets: EQBM - News), a growing company focused on finding, acquiring and extracting gold and other mineral reserves worldwide, announced the completion of a memorandum of understanding with D.A.K., a privately owned Chinese resource corporation held by H.M.H. of Hong Kong, to acquire a precious metals mining project in Dalian, China. Once the due diligence is completed and agreements are signed Equitable Mining Corp. will own 35% of all operations and mineral rights. Significant deposits of gold, platinum, palladium, rhodium and copper have been identified in the mine and mine tailings and monthly revenues of $1.6 million and annual revenues of $19.2 million are projected.
The Dalian acquisition covers the mineral rights to 220,000 square meters of land leased from the government for 25 years and includes 5.2 million tons of mine tailings plus infrastructure in place including roads, electricity, water, fencing, storm sewer, transportation and one production line. To date $7 million has been invested in the project by H.M.H. and D.A.K. Once the acquisition is complete Equitable Mining Corp. plans to increase production to three lines within the first eight months. The company will utilize D.A.K.'s environmentally friendly leaching process to extract the mineral deposits.
"Signing a memorandum of understanding with D.A.K to acquire the Dalian project is a major accomplishment with highly promising prospects for our company," said Wayne Reid, a Director of Equitable Mining Corp. "Commitments for the first transaction phase have been received and we are traveling to the site later this month for further due diligence. We are very excited about this transaction...."
In addition to the Dalian project Equitable Mining Corp. has been acquiring mining properties in North and South America. The company recently announced the purchase of its Bonanza Property in Ontario, Canada's historically prolific Red Lake Gold Camp. More than 25 million ounces of gold have been produced in Red Lake since 1935. Equitable's Bonanza Property consists of 14 claims adjacent to Goldcorp's Red Lake Mine, which produces 550,000+ ounces annually and is one of the richest, most profitable gold mines in the world. Red Lake Mine contains the world-renown High Grade Zone with 4.4 million ounces of high grade gold reserves.
Recently Goldcorp purchased 10% of neighboring Wolfden Resources for $3.60 CDN a share, a total of $18.5 million USD, in part due to its drilling activity on the Bonanza-Follansbee project which is directly adjacent to the properties owned by Equitable Mining Corp. In December Placer Dome Inc., whose 210,000 ounce-producing Campbell Mine is located nearby in Red Lake Camp, announced that exploration drilling confirmed the extension of Goldcorp's High Grade Zone into neighboring Campbell Mine. Equitable Mining owns claims adjacent to Red Lake Mine, Campbell Mine and the newly acquired Wolfden claims.
Equitable Mining recently assembled an international acquisition team to target high-yield mining projects in mineral-rich areas of North America, Latin America and Australasia. With joint-venture partner Atlantis Acquisition 1, the company announced it is close to closing on its first South American precious metals project in Colombia, where striking test results indicate confirmed deposits of a rich gold-copper-silver. The company has also entered into discussions around an additional group of claims in Northern Ontario and other North American locations....
****On April 11, 2005, the company acquired the following property:
Equitable Life Investments Announces Purchase Agreement with EMCO Corporation Monday April 11, 2005 3:02 am ET
Purchase of 10 Claims in Dome Township, Red Lake Mining District TORONTO--(BUSINESS WIRE)--April 11, 2005--Equitable Life Investments (Pink Sheets:EQLFF.PK - News) is pleased to announce the purchase of 10 claims in Dome Township, Red Lake mining district. These claims border on the south of Gold Corp. claims and west and south of Wolf Den's claims. Wolf Den's Drill Programs have completed 6 holes with multiple holes having visible gold.
Wolf Den has now expanded its drill program to three drill rigs. The strike of the formation towards equitable claims, Wolf Den (TSX:WLF - News) states that the geological setting is very similar to that at Gold Corp. Red Lake Mine (3 miles east) and Placer Dome Campbell Mine (3km east). Equitable has retained the engineering firm Clark Exploration Consulting Inc to give a 43101 report and management feels that said report should show 300,000 plus tons of .20au gold. Said report should be completed and filed within 30 days.
****Per September 27, 2005 PR, the property was described as such:
The property consists of twelve unpatented claims and 2 patented claims (KRL 11325 and KRL 11442), with a total area of approximately 355 hectares. They are adjacent to properties owned by Wolfden Resources that have identified significant gold mineralization.
**** Per my conversation with CEO, the company had a setback earlier this year when they were unable to begin mining on the Red Lake property due to weather conditions. The area had an unusually warm winter and the ground was too soft for ground equipment to be used. The company has recently obtained the use of a barge equipped with drilling equipment and they plan to begin drilling operations in June of this year. Also, the company is in the process of closing on a mining property in Ecuador that already has proven reserves.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
quote:Originally posted by Johnwayne: What the heck is a memo of undersanding? Is that firmer than the infamous letter of intent?
The same thing just shows points of agreement and the intention of the memo becoming part of their final agreement
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
Dang it Juice you keep stealing my DD LOL. Is it Monday yet? Always fun to hold a runner over the weekend and speculate on how big the gap will be. I'm guessing we see at least .018x .025 maybe even .02x .03
-------------------- Thanks Matto. Thanks Juice. Posts: 2945 | From: USA | Registered: Feb 2006
| IP: Logged |
Whenever someone buy at higher price, there is an identical selling at the same moment at a lower price. What does this indicates???
Nobody is willing to share his/her knowledge??????
This was a hard fill so there were probably so many ppl trying to buy at .014-.015 range the MM moved the ask up to .018 to slow the MOMO by scaring away the buyers
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
Nice thread, got in on this monster at .008 Friday, Looks really thin, another volume day like yesterday and this thing will explode. Good Luck Guys!
Posts: 655 | From: Louisville,Ky | Registered: Dec 2005
| IP: Logged |
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
We could see updates at any time on the following : DAK (China) Red Lake Mine Potential Property acquisition in: Noth America South America Latin America Australia COMPANY CURRENTL HAS REPS IN THESE AREAS
Also the 43101 report referrenced in the April 11 PR should have been filed by May 11 so we could see a PR on that any time.
-------------------- Thanks Matto. Thanks Juice. Posts: 2945 | From: USA | Registered: Feb 2006
| IP: Logged |
posted
short term memory- can you tell me what the chart tells you about thi week? I'm using a PDA and the screen is too small for me to read charts. Thanks
-------------------- Thanks Matto. Thanks Juice. Posts: 2945 | From: USA | Registered: Feb 2006
| IP: Logged |
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
.012 X .018 Has not moved yet Chart looks great, RSI under 50 meands there is lots of room to go up!
Posts: 655 | From: Louisville,Ky | Registered: Dec 2005
| IP: Logged |
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
Bud uptick..... a little pressure here at .02 and they'll let it go. It should move now. Still mirror trades. .02'S ARE TRICKLING... and there's a bud uptick to .016. They're gonna let it go.
-------------------- Thanks Matto. Thanks Juice. Posts: 2945 | From: USA | Registered: Feb 2006
| IP: Logged |
posted
this is ready to run can only be held for so long
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
No because it's a hard fill and they are trying to hold back for as long as possible
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
I see that looks like they're letting it go
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
check the volume. I've been trying to buy more all morning and only got partials
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
Rolling like a jugernaut!! The minute that spread is a tick apart it explodes. I see what you mean now Juice. The buying pressure is there, we can't always see it. Now what is Level 2 looking like?
-------------------- Thanks Matto. Thanks Juice. Posts: 2945 | From: USA | Registered: Feb 2006
| IP: Logged |
posted
sorry Duke my streamers f*cked up thanks scottrade
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
