Phil,
I received the following on the newly created Tyhee thread.
I copied it here and replied to it
with a mention that it be discussed
in any manner on this thread rather
than the Tyhee thread.
I also appended from the company mentioned
in the post two posts from that thread,
dated April 1999 and May 2000
a 13 months lapse beween each.
--------------------------------------------------
StockTalk: Tyhee Development Corp.
From: robingrayson
Sunday, May 7, 2000
For fireworks in Mongolia, have a look at the JAVA GOLD thread.
To clarify some history. The Bumbat JV was set up before Mongolian
legislation allowed foreign companies to have more than 49% of the
shares of a JV, thus 51% had to be Mongolian. The legislation was
crystal clear.
The new legislation allows 100%-owned foreign mining licenses, and JVs
can have 99%-foreign ownership. Unfortunately these changes came too
late for Bumbat.
If Bumbat is really as valuable as claimed, surely Tyhee should buy the
51% stake which was pledged as security with the Trade & Development
Bank of Mongolia. This happens to be my company's local bank, and it
appears that Tyhee has made no moves to buy the 51%. That would unlock
the whole situation - and return shareholder value to the big investment
in the 49% already spent. Then Tyhee could either get organised to mine
this season, or refurbish and mine in spring 2001. Quite a good
scenario. The Trade & Development Bank would sell for 2-3m$. Is it worth
it?
--------------------------------------------------
StockTalk: Gold, Mining, and Natural Resources JAVA GOLD
From: Ron Everest
Thursday, Apr 1, 1999
Current trading:
Canada: JVAG
From: robingrayson
Thursday, May 4, 2000
Wake up everybody! JAVA GOLD is ACTIVE!
There is a lot to tell - some amazing news,
... but I know rather a lot about JVAG,
having lived in Mongolia since April 1995,
when I was Chief Adviser to the
Mongolian Business Development Agency (MBDA)
which was instrumental in getting a group of
Canadian investors into Mongolia,
including Golden Tiger Corporation
(of BVI, active in Singapore and Indonesia),
Zaamar Goldfields, Mongolian Goldfields Corporation
(of Ontario), Condor Resources etc etc.,
adn indirectly International Pursuit etc.
Today I am MD and 60% shareholder of a small
Mongolian-British joint venture registered
in Ulaanbaatar and active in software applications
and design, remote sensing, placer gold exploration,
platinum placer exploration and tantalite exploration -
Eco-Minex International Co. Ltd. (EMI!)
I do business advice to Mongolian companies -
including some affected by the Java Gold saga.
Back to the script...
I have a certified statement of 26 April 2000
from the Companies Branch of the Ministry of
Consumer Relations of the Province of Ontario,
that Java Gold Corporation (Ontario Corporation
Number 1182521) has the status of ACTIVE.
The registered office cited is:.....
... Stand by for more info, but please join in!
Sorry about the typo errors -
I'm in Kazakhstan and the internet is a pig! |
