Brad /Ivonne (Navial) are selling up to a 56% inte
Post# of 8054
Brad /Ivonne (Navial) are selling up to a 56% interest (in stages as Rift raises the money) in their huge N Baja concession empire as part of a JV arrangement w Rift-formerly Mayen (sp)-this has nothing directly to do w CWRN/KMG- just background on Brad et al
we know Brad /Ivonne have money because they acquired said huge empire and were systematically buying up the in holdings and bought controlling shares of CWRN in1 fell swoop-buying a discount of the future profits .
CWRN was 1 of those in holdings. Bob /Sharon had endured incredible grief the last 2 years from the JV arrangement and the never before seen otc/dtc/sec/broker/doj etc political conspiracy which has attacked 1000's of pennies by a national politician, who based on his personal experiences decided business was evil and had to be stopped-I saw the TV doc myself as well as the author of Predator Nation Charlie Rose interview
So when Brad/Ivonne, in their systematic process of acquiring in holdings offered to buy Bob/Sharons shares,the offer was accepted
I believe Bob/Sharon believe Brad/Ivonne can build a bigger and better operation-free of the JVA etc constraints/millstones Bob and Sharon were hampered by,and that Brad et al will uplist to at least the OTCBB as CWRN wanted to do- May 26, 2011 and Nov 2010 PR's. And absent the alleged withheld receipts by JV assoc Geo,which severely hampered operations (see CWRNs complaint) this was a successful operation w a huge inventory
Also, Navial has a ship division and planned on building its own ship loading facilities near Erendira- a straight shot to the ocean from Baja 14 on an existing paved secondary highway-many of CWRN's workers live at Erendira- a coastal hamlet. Except for the jva,the biggest operational difficulty has been the ship and port coordination,w the govt's ever changing rules-see 6-25-12 PR.
Brad/Ivonne by all counts should continue to operate and grow the mine-they will present a prospectus to tell us their plans,along w financials and sec reg statement, as noted by the PR- a process the PR said would be accomplished within 60 days.
This will remove the dtc/broker restrictions ahead of the record date-on that date the holders of record will later -the settlement date-have their shares automatically replaced by shares in the new ticker symbol.