Post by fastwalker on Sept 23, 2004 22:32:37 GMT -5
read it and make up your own minds. Do not be influenced..by any documents that re in part or whole..an article written without verification from the source (person / entity about whom the article is written)...as with anything in stocks..."DO YOUR WON DD FIRST."
jmo.... 8-)FW
St. George Metals revived to join pink sheet promotion
2004-09-16 09:12 ET - Street Wire
Also Street Wire (U-CMKX) CMKM Diamonds Inc
Also Street Wire (U-UCAD) US Canadian Minerals Inc
by Lee Webb
St. George Metals Inc., a recently revived Nevada-incorporated shell that can trace its lineage to the former Vancouver Stock Exchange (VSE), has become the latest patron of Urban Casavant's pink sheet company, CMKM Diamonds Inc. St. George will ante up $10-million (U.S.) and a whopping 200 billion restricted shares for a five-per-cent stake "in any and all mineral claims" held by CMKM. (All amounts are in U.S. dollars unless otherwise indicated.)
As with many things involving CMKM, exactly how many mineral claims the company holds is a matter of some conjecture. Based on sketchy information provided by the company, it appears that CMKM may have varying interests in claims covering between 1.4 million acres and 1.9 million acres in Saskatchewan.
Most of the company's prodigious promotional and modest exploration efforts centre on its heavily touted diamond prospects in the Fort a la Corne area where there are two advanced diamond projects, one owned by a group headed by De Beers Canada Corp. and Kensington Resources Ltd. and the other owned by Shore Gold Inc.
Notwithstanding the many years and many millions of dollars spent by the De Beers and Kensington group and Shore Gold, neither of those projects has yet been established as economically viable. Nonetheless, they provide some promotional mileage for CMKM, which purports to be "racing to find more diamonds" in Saskatchewan.
It remains to be seen whether the cash infusion from St. George will give some traction to the racy CMKM promotion, widely touted as the "stock play of a lifetime."
CMKM reports that it has already received $5-million in two equal payments from St. George, the most recent on Sept. 13, and expects two additional payments of $2.5-million over the next 30 days.
At this point, the source of that $10-million is a mystery, and it may well remain so. Like CMKM, the resuscitated St. George trades on the unregulated pink sheets, free from the burden of even rudimentary disclosure requirements.
Another CMKM backer, U.S. Canadian Minerals Inc., trades on the OTC Bulletin Board and is subject to reporting requirements with the U.S. Securities and Exchange Commission (SEC).
So far, U.S. Canadian Minerals has peeled off 7.5 million shares in exchange for five per cent of CMKM's mineral claims and has made two cash payments totalling $5.5-million under a one-year option agreement allowing it to purchase an additional 10-per-cent interest for $15-million.
Nearly penniless U.S. Canadian Minerals, flagged with a going-concern warning, executed an initial $3-million purchase under its option agreement with CMKM on July 28. An Aug. 23 SEC filing disclosed that the source of the $3-million was a subscription agreement for 600,000 shares of U.S. Canadian Minerals priced at $5 per share from an otherwise unidentified "related party to CMKM Diamonds."
After announcing on Sept. 8 that it had secured a further $3-million by way of a private placement, U.S. Canadian Minerals doled out another $2.5-million to CMKM on Sept. 9. The participant or participants in the Sept. 8 financing have not been even vaguely identified yet, inviting speculation among some skeptics that a party related to CMKM may have been involved in that private placement, too.
Meanwhile, questions have also surfaced regarding a relationship between Mr. Casavant's CMKM and the company's newest patron, St. George. According to a recent article by Dow Jones reporter Carol S. Remond, however, Mr. Casavant claims that he has nothing to do with St. George and knows nothing about it being a dormant shell.
The recently revived St. George is now headquartered in Vegreville, Alberta, a farming community with a large Ukrainian presence and several nearby Hutterite colonies. With a population of approximately 5,800, Vegreville is not known as a financial hub, but it does lay claim to being the home of the world's largest Easter egg.
Vegreville is reportedly also home to Mark Giebelhaus, president of St. George and the only identified officer of the company at this point. A directory search returns a surprising 21 Vegreville telephone listings for the surname Giebelhaus, but no public listing for Mark Giebelhaus.
St. George's investor relations spokesperson Vicki Curran also lives in Vegreville, as does her father, Victor Casavant, who happens to be Urban Casavant's brother. In a Stockwatch interview, Ms. Curran readily acknowledged that she was Urban Casavant's niece.
According to Ms. Curran, Victor Casavant is not involved with St. George. While he may not be directly involved with St. George, it does appear that he is at least "close" to the play.
A call to Victor Casavant's telephone number and a request to speak with Vicki brought the response that she was on another phone. Moreover, it appears that St. George at least briefly used a Vegreville postal box that has also been used by Victor Casasvant, including appearing below his signature on a 1995 settlement agreement with the Alberta Securities Commission.
Victor Casavant evidently ran afoul of Alberta securities regulators in connection with an illegal distribution of shares of a non-reporting issuer, Striker Minerals Ltd. The terms of the settlement agreement, a $1,000 (Canadian) fine and an acknowledgement of "the requirement to be more diligent when raising capital in the future," suggest that it was considered a relatively minor breach of securities regulations.
Ms. Curran told Stockwatch that she is new to St. George, but has about 13 years of experience in investor relations with other companies, both public and private. She would not disclose the names of the companies she was previously involved with, however, telling Stockwatch that the information would be provided in press releases issued over the next week.
While reluctant to discuss her specific background when contacted by Stockwatch, Ms. Curran offered some information regarding her former husband without any prompting at all. According to Ms. Curran, Kevin Curran served a brief stint as investor relations representative for Northern Star Resources Inc.
more....
jmo.... 8-)FW
St. George Metals revived to join pink sheet promotion
2004-09-16 09:12 ET - Street Wire
Also Street Wire (U-CMKX) CMKM Diamonds Inc
Also Street Wire (U-UCAD) US Canadian Minerals Inc
by Lee Webb
St. George Metals Inc., a recently revived Nevada-incorporated shell that can trace its lineage to the former Vancouver Stock Exchange (VSE), has become the latest patron of Urban Casavant's pink sheet company, CMKM Diamonds Inc. St. George will ante up $10-million (U.S.) and a whopping 200 billion restricted shares for a five-per-cent stake "in any and all mineral claims" held by CMKM. (All amounts are in U.S. dollars unless otherwise indicated.)
As with many things involving CMKM, exactly how many mineral claims the company holds is a matter of some conjecture. Based on sketchy information provided by the company, it appears that CMKM may have varying interests in claims covering between 1.4 million acres and 1.9 million acres in Saskatchewan.
Most of the company's prodigious promotional and modest exploration efforts centre on its heavily touted diamond prospects in the Fort a la Corne area where there are two advanced diamond projects, one owned by a group headed by De Beers Canada Corp. and Kensington Resources Ltd. and the other owned by Shore Gold Inc.
Notwithstanding the many years and many millions of dollars spent by the De Beers and Kensington group and Shore Gold, neither of those projects has yet been established as economically viable. Nonetheless, they provide some promotional mileage for CMKM, which purports to be "racing to find more diamonds" in Saskatchewan.
It remains to be seen whether the cash infusion from St. George will give some traction to the racy CMKM promotion, widely touted as the "stock play of a lifetime."
CMKM reports that it has already received $5-million in two equal payments from St. George, the most recent on Sept. 13, and expects two additional payments of $2.5-million over the next 30 days.
At this point, the source of that $10-million is a mystery, and it may well remain so. Like CMKM, the resuscitated St. George trades on the unregulated pink sheets, free from the burden of even rudimentary disclosure requirements.
Another CMKM backer, U.S. Canadian Minerals Inc., trades on the OTC Bulletin Board and is subject to reporting requirements with the U.S. Securities and Exchange Commission (SEC).
So far, U.S. Canadian Minerals has peeled off 7.5 million shares in exchange for five per cent of CMKM's mineral claims and has made two cash payments totalling $5.5-million under a one-year option agreement allowing it to purchase an additional 10-per-cent interest for $15-million.
Nearly penniless U.S. Canadian Minerals, flagged with a going-concern warning, executed an initial $3-million purchase under its option agreement with CMKM on July 28. An Aug. 23 SEC filing disclosed that the source of the $3-million was a subscription agreement for 600,000 shares of U.S. Canadian Minerals priced at $5 per share from an otherwise unidentified "related party to CMKM Diamonds."
After announcing on Sept. 8 that it had secured a further $3-million by way of a private placement, U.S. Canadian Minerals doled out another $2.5-million to CMKM on Sept. 9. The participant or participants in the Sept. 8 financing have not been even vaguely identified yet, inviting speculation among some skeptics that a party related to CMKM may have been involved in that private placement, too.
Meanwhile, questions have also surfaced regarding a relationship between Mr. Casavant's CMKM and the company's newest patron, St. George. According to a recent article by Dow Jones reporter Carol S. Remond, however, Mr. Casavant claims that he has nothing to do with St. George and knows nothing about it being a dormant shell.
The recently revived St. George is now headquartered in Vegreville, Alberta, a farming community with a large Ukrainian presence and several nearby Hutterite colonies. With a population of approximately 5,800, Vegreville is not known as a financial hub, but it does lay claim to being the home of the world's largest Easter egg.
Vegreville is reportedly also home to Mark Giebelhaus, president of St. George and the only identified officer of the company at this point. A directory search returns a surprising 21 Vegreville telephone listings for the surname Giebelhaus, but no public listing for Mark Giebelhaus.
St. George's investor relations spokesperson Vicki Curran also lives in Vegreville, as does her father, Victor Casavant, who happens to be Urban Casavant's brother. In a Stockwatch interview, Ms. Curran readily acknowledged that she was Urban Casavant's niece.
According to Ms. Curran, Victor Casavant is not involved with St. George. While he may not be directly involved with St. George, it does appear that he is at least "close" to the play.
A call to Victor Casavant's telephone number and a request to speak with Vicki brought the response that she was on another phone. Moreover, it appears that St. George at least briefly used a Vegreville postal box that has also been used by Victor Casasvant, including appearing below his signature on a 1995 settlement agreement with the Alberta Securities Commission.
Victor Casavant evidently ran afoul of Alberta securities regulators in connection with an illegal distribution of shares of a non-reporting issuer, Striker Minerals Ltd. The terms of the settlement agreement, a $1,000 (Canadian) fine and an acknowledgement of "the requirement to be more diligent when raising capital in the future," suggest that it was considered a relatively minor breach of securities regulations.
Ms. Curran told Stockwatch that she is new to St. George, but has about 13 years of experience in investor relations with other companies, both public and private. She would not disclose the names of the companies she was previously involved with, however, telling Stockwatch that the information would be provided in press releases issued over the next week.
While reluctant to discuss her specific background when contacted by Stockwatch, Ms. Curran offered some information regarding her former husband without any prompting at all. According to Ms. Curran, Kevin Curran served a brief stint as investor relations representative for Northern Star Resources Inc.
more....