see my recent posts,especially posts 7957 and 7958
As you say, our shares still exist-despite unprecedented (in 2011)without notice or due process illegal broker restrictions which would themselves be ripe for class action in a just world and despite the imo illegal non-due process dtc taking/chill and despite the grey market.
There has been no bankruptcy- i presume bc brad didnt even have full ownership of PanAm bc he apparently only paid a down payment,so theoretically bob still has greater claim on PanAm than brad- which bob could exert if he wanted to in the suits between bob and brad,but from what i've seen those suits are over equipment etc- not the mine itself-and bob has new mines now as posted over the last years. Once brad lost the concession for failure to pay the royalties from ilia to the concession surface land owner, brad was not in a position to argue for the concession.
The concession is still valuable. Most startups are trying to locate ore (dry holes are probably more common than wet holes -and cwrn never had a dry hole) just to show investors it is valuable so they can get some investment. So that is done via drill holes and satisfying a stringent Canadian geological report called a NI 43-101.
CWRN never did the 43-101 bc they already had 68 drill hole results acquired ca May 2011 and already knew where 4 veins were-and was then already mining and then added deep holes 69-73 to decide on viability of beneficiation away from the center of the vein of the 1 or 2 veins they were mining-having discovered another vein- samson-while mining the C---- vein.
after searching several continents and 30 plus concessions in mexico Bob chose Baja 14 as the most likely profitable - quality of ore- up to 67% (some outcrops),proximity to port etc. And only mined a small part of the ore on baja 14.
Latin america for the most part has the lowest mining costs -partly why mex has over 32000 mining concessions.
Premiums for lump ore and % over the benchmark 62% are high-especially for the lump ore (bigger non-fines which dont require extra treatment for iron/steel furnaces)
so near coastal latin american iron mines are still profitable.
this all leads me to believe we will have a new concession owner sooner or later.
And due to the unique bizarre circumstances here whereby our shares still exist bc they were never closed out via bankruptcy proceedings (see previous posts),any new concession lessee MAY -NO PROMISES- but may feel compelled to deal with our shares in what the law calls equity to avoid trouble down the line-similar to a cloud on the title (only on the lease here-though the lease itself would be secure,the new concession owner may feel it prudent to exchange our shares on a certain ratio for shares in the new lessees mining company). Part of the fallout to them of brad never declaring PanAm or CWRN bankruptcy.
And since brad never apparently paid more than a down payment and for other reasons brad would not be eligible for such an arrangement imo. Just the float and possibly the ca 500m closely held shares. Also remember the california CWRN lawsuit against Geo -see posts noted above.
KMG shares were never issued-everything just seemed to shut down after brad apparently decided he would not try to recoup the ilia revenue.
so sometime after that brad never paid cwrn or otc fees or anything else that i know of.
btw baja 14 already has ca 200k tons of separated fertilizer and fines ready for any new new lessee smart enough to make use of them.
As you say, our shares still exist-despite unprecedented (in 2011)without notice or due process illegal broker restrictions which would themselves be ripe for class action in a just world and despite the imo illegal non-due process dtc taking/chill and despite the grey market.
There has been no bankruptcy- i presume bc brad didnt even have full ownership of PanAm bc he apparently only paid a down payment,so theoretically bob still has greater claim on PanAm than brad- which bob could exert if he wanted to in the suits between bob and brad,but from what i've seen those suits are over equipment etc- not the mine itself-and bob has new mines now as posted over the last years. Once brad lost the concession for failure to pay the royalties from ilia to the concession surface land owner, brad was not in a position to argue for the concession.
The concession is still valuable. Most startups are trying to locate ore (dry holes are probably more common than wet holes -and cwrn never had a dry hole) just to show investors it is valuable so they can get some investment. So that is done via drill holes and satisfying a stringent Canadian geological report called a NI 43-101.
CWRN never did the 43-101 bc they already had 68 drill hole results acquired ca May 2011 and already knew where 4 veins were-and was then already mining and then added deep holes 69-73 to decide on viability of beneficiation away from the center of the vein of the 1 or 2 veins they were mining-having discovered another vein- samson-while mining the C---- vein.
after searching several continents and 30 plus concessions in mexico Bob chose Baja 14 as the most likely profitable - quality of ore- up to 67% (some outcrops),proximity to port etc. And only mined a small part of the ore on baja 14.
Latin america for the most part has the lowest mining costs -partly why mex has over 32000 mining concessions.
Premiums for lump ore and % over the benchmark 62% are high-especially for the lump ore (bigger non-fines which dont require extra treatment for iron/steel furnaces)
so near coastal latin american iron mines are still profitable.
this all leads me to believe we will have a new concession owner sooner or later.
And due to the unique bizarre circumstances here whereby our shares still exist bc they were never closed out via bankruptcy proceedings (see previous posts),any new concession lessee MAY -NO PROMISES- but may feel compelled to deal with our shares in what the law calls equity to avoid trouble down the line-similar to a cloud on the title (only on the lease here-though the lease itself would be secure,the new concession owner may feel it prudent to exchange our shares on a certain ratio for shares in the new lessees mining company). Part of the fallout to them of brad never declaring PanAm or CWRN bankruptcy.
And since brad never apparently paid more than a down payment and for other reasons brad would not be eligible for such an arrangement imo. Just the float and possibly the ca 500m closely held shares. Also remember the california CWRN lawsuit against Geo -see posts noted above.
KMG shares were never issued-everything just seemed to shut down after brad apparently decided he would not try to recoup the ilia revenue.
so sometime after that brad never paid cwrn or otc fees or anything else that i know of.
btw baja 14 already has ca 200k tons of separated fertilizer and fines ready for any new new lessee smart enough to make use of them.
