posted
I've been following this company for a while and it seems that they're going to build a production plant this time, which is a great step in the right direction as this would mean they would be making money for the first time.
The CEO of this company is Joseph Therell, who is also president of Kilpatrick Life Insurance, a company founded (and also managed) by former Louisiana state senator Virginia Kilpatrick Shehee, who is also in the BOD of ILST. I believe this will be approved, and if THAT press release comes we'll see higher prices.
International Star, Inc. Announces Request For Preliminary Approval For Bond Issue To Finance Plant In Louisiana SHREVEPORT, La. (EWORLDWIRE) Apr 13, 2007
International Star, Inc., a Nevada corporation, today announced that it is seeking preliminary approval from the Caddo-Bossier Parishes Port Commission (Port Commission) in Louisiana for the issuance of up to $7,000,000 in revenue bonds to help finance the construction of an extraction facility to be located near rail transportation and the Port of Shreveport-Bossier.
The Port Commission has been working with International Star to produce a formal Resolution for preliminary approval, which will be offered at the next meeting of the Port Commission on April 19, 2007. If adopted, the Resolution will be published in one issue of The Times, the Shreveport daily newspaper, and a public hearing on the issuance of the Bonds will be held in accordance with Section 147(f) of the Internal Revenue Code. There can be no guarantee that the Resolution for preliminary approval of the bond financing will pass without opposition, or even if it does, that the bonds would be successfully marketed and sold.
Revenue Bond financing is a mechanism authorized by the Louisiana State Bond Commission to promote economic development and expanded employment opportunities within the state. The facility will be owned and operated by International Star, Inc. and used to extract precious metals from iron and iron bearing ore concentrate. If the Resolution is adopted, it will permit the Port Commission to issue up to $7,000,000 in Revenue Bonds, having a term not to exceed thirty (30) years and bearing interest at the rate of not more than 9 percent per annum, to finance the acquisition, construction and equipping of the extraction facility on behalf of International Star, Inc. If subscribed for, the proceeds of the Revenue Bond issue may be used in part to reimburse the company for its expenses creating the financing, as well as a reserve fund if required by any party.
Joseph E. Therrell, Jr., president of International Star and a participant in the discussions with the Port Commission leading to the crafting of the Resolution to be introduced at the April 19 meeting, said, "We are gratified by the interest of the Caddo-Bossier Parishes Port Commission in our company and its ore extraction technologies, and very much look forward to working closely with it, the State of Louisiana and the other agencies which will all be involved in making this project a success. We truly appreciate the financial assistance which the Revenue Bonds will provide for us and our shareholders, and at the same time take seriously our role in helping to promote economic activity and expanded employment opportunities through the potential of growth and expansion which the Revenue Bonds can provide."
About International Star, Inc.
International Star, Inc. (OTCBB: ILST) maintains its corporate headquarters in Shreveport, La. and owns interests in mineral rights in Arizona that, subject to having adequate financial resources, it intends to exploit through the extraction of gold and other precious minerals from the rights it has acquired. More information about International Star, Inc. and its business activities can be obtained by calling International Star, Inc. at (318) 464-8687
Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievement expressed or implied by such forward looking statements. In some cases, you can identify forward looking statements by terminology such as "may," "will," "should," "could," "intend," "expects," "plan," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of such terms or other comparable terminology. Although management believes that the expectations reflected in the forward looking statements are reasonable, the company cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither the company nor any other person assumes responsibility for the accuracy and completeness of such statements. HTML: http://www.eworldwire.com/pressreleases/16810 PDF: http://www.eworldwire.com/pdf/16810.pdf ONLINE NEWSROOM: http://www.eworldwire.com/newsroom/2147.htm RSS NEWSROOM: http://newsroom.eworldwire.com/xml/newsrooms/2147.xml
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As always, do your DD
Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006
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posted
could be interesting indeed...keeping it on the radar for a few weeks!!!
that woman virginia kilpatrick shehee seems to be very popular in the state of louisiana...
Posts: 1065 | From: switzerland | Registered: Mar 2005
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posted
not much volume but with the right pr next week this stock is off for the races. i think they have powerfull management that has connections with the usa government because of virginia and that will bring in big investors after next week imo...time will tell how this will unfold
Posts: 1065 | From: switzerland | Registered: Mar 2005
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posted
Personally I think theyve already gotten their approval stamp. Just think about it, why would the new management put out a press release stating their intentions and then risk getting denied a few days later? Wouldn't that be incredibly embarrassing? I guess it's always possible but if I were them I would only post a PR like that if I were absolutely sure of what I was doing...
anyway just thought I'd bring it to people's attention, it could go higher from here if they get their approval stamp
Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006
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posted
this will be an important week for this stock. IF they get approval thursday,this stock will start to go up a lot from here and it is my feeling that these bonds will be bought by big institutionals because virginia kilpatrick has that connections... buying more this week and good luck for those who jump in the boat also!
Posts: 1065 | From: switzerland | Registered: Mar 2005
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posted
just wait when the government is also involved next week and when "big guys" buy these bonds. as a shareholder i am lucky the ceo of kilpatrick life insurance virginia is in charge of this company and with 70M shares she definately wants to see this going up a lot!
Posts: 1065 | From: switzerland | Registered: Mar 2005
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posted
0.03 +25% weeeeeeee! this is obviously speculation for the approval result next thursday!
Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006
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posted
volume slowly building up and ask line up very interesting. it will be more interesting next week when the approval is also published in the shreveport times. Exposure will grow,also on this board imo
Posts: 1065 | From: switzerland | Registered: Mar 2005
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" If adopted, the Resolution will be published in one issue of The Times, the Shreveport daily newspaper, and a public hearing on the issuance of the Bonds will be held in accordance with Section 147(f) of the Internal Revenue Code"
within 3 months i go back to the usa to visit virginia and joe therell,the ceo and i will take some pictures then of the plant they will be building then
Posts: 1065 | From: switzerland | Registered: Mar 2005
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posted
imo it will brake 5 cents this week without any problem! just curious who the buyers of these bonds will be if they get approval thursday... stay tuned!
Posts: 1065 | From: switzerland | Registered: Mar 2005
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posted
Guru, definitely post those pictures here when you get 'em
Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006
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posted
APPROVAL IS A FACT! this baby is going to go up a lot in the next week imo:
Commission advances port project April 19, 2007
By Velda Hunter veldahunter*gannett.com
The bond process for a metals extrusion company that would bring a new facility and about 25 employees to Port Shreveport-Bossier is moving forward after commissioners approved an inducement resolution Thursday.
The Caddo-Bossier Parishes Port Commission approved the preliminary resolution authorizing the port commission to incur debt and issue not exceed $7 million of tax exempt or taxable revenue bonds for the International Star Project.
International Star uses new technology to take precious metals from iron and iron bearing ore, Company President Joe Therrell Jr. told commissioners during a committee meeting recently.
The port would act as a conduit for the bonds, and it would not be responsible for loaning or repaying any money, said Donald Cunningham Jr., the port’s bond counsel. “It’s on the company,” he said.
Thursday’s unanimous approval of the resolution means the port wants to move forward with the project and allow the company to get tax-exempt, or lower, financing, Cunningham said. But this is just the beginning of the typically 120-day bond process, which includes getting approval from the state bond commission in Baton Rouge, he said.
“We’re looking forward to that,” Frank Pernici, port commission president, said of the International Star Project. “We hope that happens real soon.”
Eric England, executive port director, said the company has an aggressive timetable for development, anticipating it will be operating at the port before the year ends. The company plans to lease about 30 acres from the port, England said ------------------------------------------------
this is all politics and connections :-) stay tuned because there is more going to come!
Posts: 1065 | From: switzerland | Registered: Mar 2005
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I'm sure the E (ILSTE) will be taken care of, I mean they DID say the filing would be late...
Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006
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posted
yes,i checked with the company and they are busy with getting that filing up to date so that "e" is removed in a matter of time...
Posts: 1065 | From: switzerland | Registered: Mar 2005
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posted
NEWS but i already got that out of the newspapers but it is official and the filing that caused the E is yesterday filed also so we are rid off that E also.
International Star: Caddo-Bossier Parishes Port Advances Port Project Funding
SHREVEPORT, LA (EWORLDWIRE) Apr 20, 2007
The bond process for a metals extrusion company at the Port Shreveport-Bossier has moved forward after commissioners approved an inducement resolution on April 19, 2007. This would bring a new facility and jobs for approximately 25 employees to the Port. International Star, Inc. uses new technology to extract precious metals from iron and iron bearing ore according to Acting President Joseph E. Therrell, Jr.
The Caddo-Bossier Parishes Port Commission approved the preliminary resolution authorizing the port commission to incur debt and issue not exceeding $7 million of bonds. It is still to be determined whether the bonds will be tax exempt or tax revenue bonds. The port would act as a conduit for the bonds and it would not be responsible for loaning or repaying any money, said Donald Cunningham, Jr., the port's bond counsel. "It's on the company," he said.
The unanimous approval of the resolution means the port wants to move forward with the project and allow the company to get tax exempt or lower financing. Typically, this is a 120-day bond process that includes getting approval from the state bond commission in Baton Rouge.
Eric England, executive port director, indicated that I-Star has an aggressive timetable for development and anticipated that the plant could be operational at the port by the year's end.
Additionally, International Star, Inc. has signed an agreement to hire Brian Morrison who has 24 years SEC and securities experience as consultant on the company project and operations.
About International Star, Inc. International Star, Inc. (OTCBB: ILST) maintains its corporate headquarters in Shreveport, LA and owns interests in mineral rights in Arizona that, subject to having adequate financial resources, it intends to exploit through the extraction of gold and other precious minerals from the rights it has acquired. More information about International Star, Inc. and its business activities can be obtained by calling International Star, Inc. at (318) 464-8687.
Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
------------------------------------------------
interesting thing is that john tuma,has developed a formula and process that is new in the mining industry and will be use to extract the metals out of our properties and of third parties ( third parties is mentioned in a former pr in 2006).
This process is even bigger than the value is our properties because it is my understanding there is a lot of interestest from bigger mining companies for the new technology and they are waiting now for production to see the "PROOF"
once they see it and we have proven revs for 3 months, this is going to be very exciting. what do you guys think about this? any mining experts here who can give an opinion?
Posts: 1065 | From: switzerland | Registered: Mar 2005
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posted
very nice this indirectly says "their business plan is solid", otherwise they wouldn't have gotten their approval. Next up is the bonds getting sold, and then the building of the plant can start!
Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006
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posted
called this at $0.024, today we closed at $0.038, YAY! but no one is following us so it seems... lol
Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006
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