Just some background on the agreement between Kinross and Southridge:
The exploration manager for Kinross Gold in Mexico at the time, Martin Moscosa did sign an agreement with Southridge Minerals (Michael Davies).
This agreement had been posted also on investorshub.
In this press release from Kinross ( http//kinross.com/news-articles/2012/122712-kinross-issues-clarification-regarding-announcement-by-southridge-enterprises.aspx ), Kinross did lie about not having an agreement in place.
Martin Moscosa worked at Kinross Gold Exploration Mexico (KGEM) until June 2013 (you can look that up).
What I believe happened, is that Southridge announced too soon who they're going to partner with. There were a lot of enquiries from shareholders and in their naivety Southridge issued the press release announcing Kinross as their partner without them knowing.
There must also have been miscommunication or minimal communication between Kinross and Martin Moscosa, because Kinross in this press release acts like they knew nothing about this agreement.
If Southridge had just waited some 3,6 months and iron out everything with Kinross and got about doing their business of uplisting to otcbb they could have announced a joint press release later on and that is how professionally you would do it. Or, you would allow the partner to issue the press release, even better.
I doubt that any other Mexican companies would ever work with Kinross again after seeing what happened to Southridge Minerals.
And really, there's no way for a small company like Southridge to start a lawsuit against a top dog like Kinross, this could take years to resolve, so they abandoned the agreement.
Mexico isn't important anymore for Kinross, as I see no exploring being done anymore in Mexico on their website.
This leaves room for other senior miners to come and see if Southridge has something to offer.
The fact that the Mexicans who were really in control of Cinco Minas and Gran Cabrera had been added to the Southridge board was a good move, because they should be coming to the forefront and taking control of the direction of the company.
As far as bashing goes, it has been relentless on this stock. Day after day, digging up old stuff that has nothing to do with the present, mailing the head of the SEC to get Southridge suspended, bugging the lawyers, etc etc. Well, I've never seen that much bashing
on a lil ole mining exploration stock ever in my entire life. Ask yourself why this happened.
Also, as a company you need a good lawyer to protect your company from shorting forces and/or outright lies/slander. In that area Southridge just didn't do enough. SKTO is a good example as to how to handle these forces.
If Southridge does come back, they should take this advice to heart.
Also, I saw that the Southridge website is back up again, so something could be up. If you haven't sold your shares yet, just hang on to them. What have you got to lose after all this time, anyway...
Good luck...
The exploration manager for Kinross Gold in Mexico at the time, Martin Moscosa did sign an agreement with Southridge Minerals (Michael Davies).
This agreement had been posted also on investorshub.
In this press release from Kinross ( http//kinross.com/news-articles/2012/122712-kinross-issues-clarification-regarding-announcement-by-southridge-enterprises.aspx ), Kinross did lie about not having an agreement in place.
Martin Moscosa worked at Kinross Gold Exploration Mexico (KGEM) until June 2013 (you can look that up).
What I believe happened, is that Southridge announced too soon who they're going to partner with. There were a lot of enquiries from shareholders and in their naivety Southridge issued the press release announcing Kinross as their partner without them knowing.
There must also have been miscommunication or minimal communication between Kinross and Martin Moscosa, because Kinross in this press release acts like they knew nothing about this agreement.
If Southridge had just waited some 3,6 months and iron out everything with Kinross and got about doing their business of uplisting to otcbb they could have announced a joint press release later on and that is how professionally you would do it. Or, you would allow the partner to issue the press release, even better.
I doubt that any other Mexican companies would ever work with Kinross again after seeing what happened to Southridge Minerals.
And really, there's no way for a small company like Southridge to start a lawsuit against a top dog like Kinross, this could take years to resolve, so they abandoned the agreement.
Mexico isn't important anymore for Kinross, as I see no exploring being done anymore in Mexico on their website.
This leaves room for other senior miners to come and see if Southridge has something to offer.
The fact that the Mexicans who were really in control of Cinco Minas and Gran Cabrera had been added to the Southridge board was a good move, because they should be coming to the forefront and taking control of the direction of the company.
As far as bashing goes, it has been relentless on this stock. Day after day, digging up old stuff that has nothing to do with the present, mailing the head of the SEC to get Southridge suspended, bugging the lawyers, etc etc. Well, I've never seen that much bashing
on a lil ole mining exploration stock ever in my entire life. Ask yourself why this happened.
Also, as a company you need a good lawyer to protect your company from shorting forces and/or outright lies/slander. In that area Southridge just didn't do enough. SKTO is a good example as to how to handle these forces.
If Southridge does come back, they should take this advice to heart.
Also, I saw that the Southridge website is back up again, so something could be up. If you haven't sold your shares yet, just hang on to them. What have you got to lose after all this time, anyway...
Good luck...
