Re: GHDC 10 K report??
in response to
by
posted on
Apr 14, 2012 11:00AM
(Edit this Message from the "Fast Facts" Section)
WRONG, WRONG, WRONG, WRONG.
"According to SFMI 10K....GHDC owns 70% of the mentioned claims."
Direct from the 10K that you claim says GHDC owns 71%:
GoldLand owns an undivided 29.167% fee title interest in seven properties, and ten unpatented mining claims, which we lease from GoldLand under a lease dated October 11, 2007.
Those percentages in the list you took from the 10K are GHDC's percentage ownership. SFMI leases GHDC's part of the claims (100% in most, 29% in others). Who owns the other 71%? Not GHDC, not Bissell, not New Visions, etc. Again, direct from the 10K (bolding added):
GoldLand is not the sole owner of seven of the patented claims that we lease from GoldLand, and instead owns only 29.166% of the claims. The remaining 70.834% of the patented claims are owned by a large number of descendants of the original parties that obtained the patent rights to the mining claims. We are in the process of trying to identify and acquire or lease the remainder of ownership of these mining claims.
Garick, you really have to get this straight. All the claims you listed are owned by GHDC, some 100%, some 29%. SFMI leases those claims from GHDC, subject to the lease terms and the 15% royalty.
Great Western, is not a "who", it's simply the name of the claim, just like the Poorman, Oso, etc.
SFMI is milling GHDC ore
SFMI is NOT milling GHDC ore, SFMI is milling ore 100% owned by SFMI according to RK (they would be dumb to do anything else). If they milled the 29% ore, then 71% of the proceeds would have to be put in to escrow for the 71% unknown owners (unless SFMI has succeeded in identifying them and maybe bought them out). GHDC does NOT get 70% of any ore, since they have leased out their ownership subject only to the royalty. Their ownership is completely leased out to SFMI, and GHDC gets a 15% royalty. Period.
5.5 million in stockpile, 70% is GHDC's.
Wrong again. GHDC does not own any of the ore, other than getting their 15% royalty.
I don't know where you got it into your head that GHDC, New Visions, Bissell, etc., or anyone else owns 70% of the claims or the ore, but it didn't come from the 10K or any other filings. It simply one of those vampire rumors that won't die no matter how many time you put a stake in its heart and no matter how many times or how easily it is refuted simply by reading or quoting the 10K. And you're not doing any of us investors any favors by continuing to repeat this crap.