Hidalgo Mining (HMIT) Announces: Consolidated Mining and Mineral Group Submits Offer to Purchase HMIT for $2.15 Per Share 4:43p ET May 30, 2007 (Business Wire) Hidalgo Mining International (PINK SHEETS: HMIT), an innovative coal mining company headquartered in New York with coal properties located in Northern Mexico, announced today that it has received a formal offer from Consolidated Mining and Mineral (CMM), an international mining company, to purchase all the outstanding and issued stock of HMIT for a consolidated purchase price of $2.15 per share. The HMIT Board of Directors has entered negotiations with CMM to discuss the finalization of its offer.
In the event that the HMIT Board of Directors accept the described offer, CMM will immediately own the mining rights to the Northern Mexico Coal Property which encompasses nearly 300M tons of discovered and tested coal. At the time of writing coal is valued at $55.00 per ton. The offer submitted by CMM will provide tremendous cash purchasing ability as the offer is based on the total value of the existing mining rights which presently encompasses over 300 million tons of coal.
"Seeking out organizations like Hidalgo is exactly what we are in business to do. Its Northern Mexico property is currently sitting on over 300M tons of coal assets. We are in the business to acquire organizations that hold rights to or own large properties with minable minerals such as coal. With our expertise and wherewithal to immediately institute mining which will produce large amounts of coal production, we are able to re-capture our costs in an expedited time frame. We are excited about the possibility of acquiring Hidalgo and hope that our negotiations will result in a satisfactory conclusion for both companies," stated Mark Klok, CEO of Consolidated Mining and Minerals.
"HMIT has convened its board to discuss all the appropriate details of the CMM offer. Through our vast knowledge about the industry and that of our coal property, we feel that we can reach a conclusion in a timely matter. HMIT will release additional news updating our shareholders of the progress in this proposed acquisition," stated Jeff Bootes, CEO of Hidalgo Mining International.
ABOUT HIDALGO MINING INTERNATIONAL
-------------------- lostone Posts: 2666 | From: san jose,ca usa | Registered: Sep 2002
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I'm sorry you guys are losing your shirts on this one.. but we've all been there; lord knows I have
Posts: 166 | From: RI | Registered: Dec 2003
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f-this! i thought it over.. after that 4:1 forward split, the O/S is close to 1 billion.. and it looks like they're diluting.. even with the past week, it's prolly insignificant after that forward split.. so i suspect there's more where all those shares are coming from.. so i'm out at a major loss hoping to fight another day guys.. and if i'm right, this should go up right after i've sold out, but i don't know how long it will hold.. glta
-------------------- lostone Posts: 2666 | From: san jose,ca usa | Registered: Sep 2002
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the next stage after crying is laughter and then after that comes joy again. I am so stupid. -------------------- luck doesn't work
Posts: 30 | From: Denver, CO | Registered: May 2007
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why didn't we get out on friday? well, that's when i got in.. then why didn't we get out this morning? lol.. .09's look so good right now.. o well, most of my shares are gone anyway, lets ask RC for another bottom bounce so we can make our money back!
-------------------- lostone Posts: 2666 | From: san jose,ca usa | Registered: Sep 2002
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quote:Originally posted by mrinos: Bought at .04 hoping for a bounce. It can not go much lower (can it??)
it may go a bit lower.. i don't think it will go up til the next PR or even til the buyback/buyout news out.. the cheaper the price, the better for the buyback.. *sigh*
-------------------- lostone Posts: 2666 | From: san jose,ca usa | Registered: Sep 2002
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I do not believe this company owns the rights to 15 billion dollars worth of coal deposits as they claim and niether do most others judging by the stock price! this is a non filing pinksheet, 50 for 1 R/S less than two months ago then a 4 for 1 F/S 3 weeks later!!! smells fishy!!!!
Posts: 2503 | From: connecticut | Registered: Mar 2005
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On the bright side Mo_Money, at least you live in paradise. I'd pay ten times what I've lost on this to live where you do.
Posts: 602 | Registered: Aug 2005
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On a side note Mo_Money, you don't happen to know of Terrence "positive" Nelson, one of St. Croix senators?
Posts: 602 | Registered: Aug 2005
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i am so paranoid right now! Is the world going to end I think not. Bought at .010 hoping HMIT gets that far up again soon.
Posts: 30 | From: Denver, CO | Registered: May 2007
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Ole Jefferson Bootes is a busy business man. According to a search on Yahoo he is CEO of this little company, CEO and Prez of Ilgl (formally ILGY) and CEO and Prez of BGUE. Hmmm. TMAN...
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
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I'm trying to get back in Lucky, I sold for a big loss at $.10 and decided to sideline it. Bought back in at .06, and am thinking of averaging down some. I'm going to try to make some of my money back.
I'm like the abused spouse that just can't pull myself together enough to leave...
Posts: 602 | Registered: Aug 2005
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