MNGG News 11/08/2014 18:38:41 $MNGG
Yes, it is a pinksheet. And no, they do not need audited financials. Or file any financials at all.
Joel has admitted he has been contacted by ADEQ (almost certainly for inspections), and he has admitted that MNGG will get fines, so talking about NOVs is more than just speculation. If he doesn't have them in hand yet, he will shortly. My guess is that he has them already.
Yes, Joel can make the NOVs go away with the proper permitting. But it isn't happening by the end of the year (that is less than 2 months away). The APP process cannot be done in 2 months. There are built-in timeframes (like the public comment period) that won't allow that. It takes legit companies a year or more, sometimes several years to get an APP. Legit companies plan way ahead for the permitting process, and Joel will have it done by the end of the year??
From what I can tell, Joel has not even begun the process. He thinks he has filed an application, but he is mistaken. What he filed was the Determination of Applicability, which is not the permit application. He is not even at the starting gate yet.
So, no, Joel will not be mining and processing by the end of the year. And, it is extremely unlikely he will ever get the proper permits, as even legit companies find the process to be onerous and expensive. There is no way a POS Pinksheet will go through the permitting process. It's laughable.
Irregardless, lets "get real" here - we are dealing with a penny stock. Pink sheet companies are not required to file with the SEC and do not need to meet any mininum requirements to be listed on the OTCBB.
For your information... - http://www.otcbb.com/faqs/otcbb_faq.stm , Section 40: Do financials submitted with the Form 211 have to be audited?
The periodic reporting requirements relied upon by FINRA Rule 6530 require annual audits of an issuer's financial statements for quoting on OTCBB. However, current FINRA rules do not require audited financial statements for quoting on other quotation mediums, but they should be prepared in accordance with GAAP or, for foreign issuers, in accordance with their home country's accounting standards.
Not narrow minded at all - and, I do support the mining industry. However, I know the regulations, and the reality of mining in Arizona. There are no third party processing facilities that are legally permitted to process ores in the fashion you describe. Existing mines are very leery about accepting ore from off-site, as it might affect their permits and require modifications for the different chemistry of imported ores.
Now, that is not to say that you can't sell concentrates directly to a smelter, as long as no additional processing is required. But for MNGG to create a concentrate at a minesite, that would require permitting. No way around it.
To who? Hundreds if not thousands of workers die in ghana mining. The conditions are deplorable and there is lack of regulation. Due to the water being contaminated and miners being killed the government has taken more active role in trying to police the mining industry of ghana. There has been a huge problem of illegal mining in ghana that has created these problems and more. Environmental and human rights issues are not mining friendly
How big will the hump be @.0002???
I'll "defame" this POS all I want. It's a scam, and its CEO has violated countless State and Federal laws.
Besides, does this look like anything resembling an audited financial?
http://www.otcmarkets.com/financialReportView...;id=126914
Do you see a signature by Mr. Johnson? I don't even see one by Joel.
Until it is proven that the company has received NOV's it is best ethically to not speculate on what has not yet been proven. Yes the evidence is there but I will continue...
Yes, it is a pinksheet. And no, they do not need audited financials. Or file any financials at all.
Joel has admitted he has been contacted by ADEQ (almost certainly for inspections), and he has admitted that MNGG will get fines, so talking about NOVs is more than just speculation. If he doesn't have them in hand yet, he will shortly. My guess is that he has them already.
Yes, Joel can make the NOVs go away with the proper permitting. But it isn't happening by the end of the year (that is less than 2 months away). The APP process cannot be done in 2 months. There are built-in timeframes (like the public comment period) that won't allow that. It takes legit companies a year or more, sometimes several years to get an APP. Legit companies plan way ahead for the permitting process, and Joel will have it done by the end of the year??
From what I can tell, Joel has not even begun the process. He thinks he has filed an application, but he is mistaken. What he filed was the Determination of Applicability, which is not the permit application. He is not even at the starting gate yet.
So, no, Joel will not be mining and processing by the end of the year. And, it is extremely unlikely he will ever get the proper permits, as even legit companies find the process to be onerous and expensive. There is no way a POS Pinksheet will go through the permitting process. It's laughable.
Irregardless, lets "get real" here - we are dealing with a penny stock. Pink sheet companies are not required to file with the SEC and do not need to meet any mininum requirements to be listed on the OTCBB.
For your information... - http://www.otcbb.com/faqs/otcbb_faq.stm , Section 40: Do financials submitted with the Form 211 have to be audited?
The periodic reporting requirements relied upon by FINRA Rule 6530 require annual audits of an issuer's financial statements for quoting on OTCBB. However, current FINRA rules do not require audited financial statements for quoting on other quotation mediums, but they should be prepared in accordance with GAAP or, for foreign issuers, in accordance with their home country's accounting standards.
Not narrow minded at all - and, I do support the mining industry. However, I know the regulations, and the reality of mining in Arizona. There are no third party processing facilities that are legally permitted to process ores in the fashion you describe. Existing mines are very leery about accepting ore from off-site, as it might affect their permits and require modifications for the different chemistry of imported ores.
Now, that is not to say that you can't sell concentrates directly to a smelter, as long as no additional processing is required. But for MNGG to create a concentrate at a minesite, that would require permitting. No way around it.
To who? Hundreds if not thousands of workers die in ghana mining. The conditions are deplorable and there is lack of regulation. Due to the water being contaminated and miners being killed the government has taken more active role in trying to police the mining industry of ghana. There has been a huge problem of illegal mining in ghana that has created these problems and more. Environmental and human rights issues are not mining friendly
How big will the hump be @.0002???
I'll "defame" this POS all I want. It's a scam, and its CEO has violated countless State and Federal laws.
Besides, does this look like anything resembling an audited financial?
http://www.otcmarkets.com/financialReportView...;id=126914
Do you see a signature by Mr. Johnson? I don't even see one by Joel.
Until it is proven that the company has received NOV's it is best ethically to not speculate on what has not yet been proven. Yes the evidence is there but I will continue...
