Notes from CC 1). Timelines-What gets done on
Post# of 12259
Posted On: 09/12/2015 1:35:25 AM
Notes from CC
1). Timelines-What gets done on time and what doesn't.
All dates given for completion have been based on times given to the company by the Attorney, Accountant, TA or the State. Not picking dates out of the air.
2). Chill
DTC Chill has been completed. Some have stated the DTC website does not show it but they only update once a month. Next month it will show it because it has been completed.
3). SEDAR
Filed and paid for 16 quarters and 4 annual fees. Checks have been cashed. Company was told if everything is there, it will take 7-14 days. Canada does not use email so everything is by regular mail. Checking on progress every other day. Has direct contact with someone at SEDAR and could be anytime now. They are reviewing the quarters first and annuals second.
4). RS
NO REVERSE SPLIT - "Its not happening" Never has been on the table. Just a discussion about the current share structure. Joel stated on the call there are 4-5 investors that hold 3-4 billion shares. If some shares are not sold when things start to move, it will be hard to continue to buy back shares. The company has "Plenty of ammo to make thing move". I liked the sound of that.
5). Share Buyback-How many shares now and future
Buy Backs are on going. Don't want to spend all the money on buy backs when Keystone and Ghana need cash flow to keep things going. But since the last update, the company has bought back between 500-800 million shares and this will be updated every quarter. Next update on share structure will be completed before the end of October. Nice job
6). Visitor's Day
Tour of Keystone, tour of congress processing center, new offices. Just a few people were there. "Rick" was on the call and was there. Said he learned a lot.
It was also stated that the company would like to have more of us out to take videos and to validate operations. I will be going to Arizona ASAP.
7). Audit
New CPA is going through everything. YTRV is first then MNGG. Going through the same paperwork as SEDAR basically. The cost will be between 25K - 50K. We are going with a bigger firm so when things are completed, reporting will be much easier going forward.
. Gold Revenues, Paperwork and Projections
Ghana gold revenues by the end of this month. More paperwork was requested by the refiners thus the holdup. Everything is falling into place. Keystone should show gold and other precious metal revenues by end of this month, worst case next month. Stated that the concentrate from keystone is showing some silver and copper, but a high percentage of PLATIUM. Very nice. Also stated that currently showing 6-12 grams per ton at Keystone.
No permits needed for trucking. All done by ADOT for $75 an hour.
Paperwork for Ghana land is online at OTC. Gold sales will be posted as completed. Still projecting 12-16 million dollars in Ghana over the next 4 years on the current 50 acers. Keystone projections are coming. First testing of current concentrate will continue.
9). Stock Dividends
No disrespect but its really early in the business for this one. Check back in 18 months.
10). Other sites for MNGG
We get offered new sites daily. What we already have is going to work.
11). Live Feed for new office, Keystone and Ghana
Turns out COX didn't have the ability to bring service to the office location. Now going with satellite company and should be up in the next few weeks. Will start with concentrate tables first then will be showing the making of gold bars. Keystone and Ghana will be Videos only.
12). John Arminio
Not an employee of the company. More of a "consultant". Was able to get the company set up in Ghana when Joel could not be there. Has a 25 year working history in Africa. Made it much easier to open bank accounts and such. Maybe working together in the future. Thank you for all of your help.
MNGG has 2 employees besides Joel currently and expecting 3 more for a total of 5 by the end of October.
13). Fully Reporting
When audit is complete, we will get a form 10 that will then be filed. Then its done.The company was in such a mess when Joel took over, the best way to fix everything was to deregister and then comeback. Should be fully reporting by end of year 2015. Everything is in the works.
14). Full Production date
Goal is more equipment in Ghana with full production by the end of October. In Keystone, full production can be reached by the end of 2015.
15). Long term goals
More equipment and people in Ghana. 300-500 grams of gold a day.
Keystone will process 20-50 tons a day.
Thanks to Joel for the call and your continued hard work.
Looking forward to coming out to see everything.
1). Timelines-What gets done on time and what doesn't.
All dates given for completion have been based on times given to the company by the Attorney, Accountant, TA or the State. Not picking dates out of the air.
2). Chill
DTC Chill has been completed. Some have stated the DTC website does not show it but they only update once a month. Next month it will show it because it has been completed.
3). SEDAR
Filed and paid for 16 quarters and 4 annual fees. Checks have been cashed. Company was told if everything is there, it will take 7-14 days. Canada does not use email so everything is by regular mail. Checking on progress every other day. Has direct contact with someone at SEDAR and could be anytime now. They are reviewing the quarters first and annuals second.
4). RS
NO REVERSE SPLIT - "Its not happening" Never has been on the table. Just a discussion about the current share structure. Joel stated on the call there are 4-5 investors that hold 3-4 billion shares. If some shares are not sold when things start to move, it will be hard to continue to buy back shares. The company has "Plenty of ammo to make thing move". I liked the sound of that.
5). Share Buyback-How many shares now and future
Buy Backs are on going. Don't want to spend all the money on buy backs when Keystone and Ghana need cash flow to keep things going. But since the last update, the company has bought back between 500-800 million shares and this will be updated every quarter. Next update on share structure will be completed before the end of October. Nice job
6). Visitor's Day
Tour of Keystone, tour of congress processing center, new offices. Just a few people were there. "Rick" was on the call and was there. Said he learned a lot.
It was also stated that the company would like to have more of us out to take videos and to validate operations. I will be going to Arizona ASAP.
7). Audit
New CPA is going through everything. YTRV is first then MNGG. Going through the same paperwork as SEDAR basically. The cost will be between 25K - 50K. We are going with a bigger firm so when things are completed, reporting will be much easier going forward.
. Gold Revenues, Paperwork and Projections Ghana gold revenues by the end of this month. More paperwork was requested by the refiners thus the holdup. Everything is falling into place. Keystone should show gold and other precious metal revenues by end of this month, worst case next month. Stated that the concentrate from keystone is showing some silver and copper, but a high percentage of PLATIUM. Very nice. Also stated that currently showing 6-12 grams per ton at Keystone.
No permits needed for trucking. All done by ADOT for $75 an hour.
Paperwork for Ghana land is online at OTC. Gold sales will be posted as completed. Still projecting 12-16 million dollars in Ghana over the next 4 years on the current 50 acers. Keystone projections are coming. First testing of current concentrate will continue.
9). Stock Dividends
No disrespect but its really early in the business for this one. Check back in 18 months.
10). Other sites for MNGG
We get offered new sites daily. What we already have is going to work.
11). Live Feed for new office, Keystone and Ghana
Turns out COX didn't have the ability to bring service to the office location. Now going with satellite company and should be up in the next few weeks. Will start with concentrate tables first then will be showing the making of gold bars. Keystone and Ghana will be Videos only.
12). John Arminio
Not an employee of the company. More of a "consultant". Was able to get the company set up in Ghana when Joel could not be there. Has a 25 year working history in Africa. Made it much easier to open bank accounts and such. Maybe working together in the future. Thank you for all of your help.
MNGG has 2 employees besides Joel currently and expecting 3 more for a total of 5 by the end of October.
13). Fully Reporting
When audit is complete, we will get a form 10 that will then be filed. Then its done.The company was in such a mess when Joel took over, the best way to fix everything was to deregister and then comeback. Should be fully reporting by end of year 2015. Everything is in the works.
14). Full Production date
Goal is more equipment in Ghana with full production by the end of October. In Keystone, full production can be reached by the end of 2015.
15). Long term goals
More equipment and people in Ghana. 300-500 grams of gold a day.
Keystone will process 20-50 tons a day.
Thanks to Joel for the call and your continued hard work.
Looking forward to coming out to see everything.
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