“….what we have is a company that doesn’t have a single area to its name in Colombia. All it has is a letter of intent (a LOI, those famous mining documents that may as well be written on toilet paper) to take over a local company called “White Gold” that has a subsidiary called “Oro Barracuda” that has applied for the right to explore some 220,000 hectares up in that corner of Colombia. Or in other words, CA.v has acquired nothing. Zip. Squat. Nada. What it has is a piece of paper that says it’ll take over a company that owns another company, as long as that company manages to secure the concessions it has applied for with the government of Colombia.
“Not exactly “acquires gold interests”, is it? And especially when just last week the Colombian government passed a new mining code specifically designed to stop “concession squatters”, meaning that it will stop small miners like CA.v from claiming extra-large concessions unless they can prove they have the wherewithall to be able to move exploration forward quickly…”
Well, seems like the top managers have cottoned on to the fact that the new mining regulations in Colombia indicate the company’s gameplan is now toast, too. Here’s the latest deal struck by CEO Hobkirk (learned all he knows from the Darling Ms. Peggy W at Century Mining) and oh look…..¡que sorpresa!... he’s selling his shares;
|Jun 30/09||Jun 25/09||Hobkirk, Adrian Frederick||Indirect Ownership||Common Shares||10 – Disposition in the public market||-30,000||$0.605|
|Jun 30/09||Jun 23/09||Hobkirk, Adrian Frederick||Indirect Ownership||Common Shares||10 – Disposition in the public market||-10,000||$0.465|