Summary as of August 6, 1999 of key SI posts on DD for review and consideration and Is NOT a buy/sell recommendation ... Do you own research before you invest. Also there are a lot of Naysayers on this stock so make sure you verify everything. Look out for POS (Purposely Omitted Syntax) or PAS (Purposely Added Syntax) however, typos do happen and so does errors. So please verify any information you read on the Internet. Note: I hold 30K of stock from .35 - .47 that I have bought on the open market and I have not asked nor been offered compensation nor have been in negotiations for any type of representation.
On March 3, 1999, Lucky Seven Gold Mines Corporation, a Delaware corporation since September 6, 1996 and in good standing (June 6, 1999 Authentication # 9017147) changed its name to Orex Gold Mines Corporation (OGMC). This is a new Florida business located at:
OREX GOLD MINES CORPORATION
2121 Ponce de Leon Boulevard
Coral Gables, FL 33134
Investor Relations V.P. George Levy 1-888-749-6739
Orex filed/registered with the State of Florida :
The order date, February 10, 1999 at 3:04 PM
leg.state.fl.us
On June 10, 1999 it was registered: ccfcorp.dos.state.fl.us
SI post on the documentation for Florida:
Message 10819149
Orex Gold Mines Corporation is a start-up company that has no revenues and was created for the sole purpose to design a turnkey mining operation based entirely on the Haber Gold Process. It reversed merger into the MMDL shell to become a publicly traded corporation on the NASDAQ Over The Counter market and traded under the ticker of ORXX. Upon completion of this turnkey plan of operation, the Haber Gold Process will be field tested.
Orex apparently has the funds to operate this business. How I do not know for sure ... probably private investors money, 504 or private placements, etc.
On May 19, 1999 Orex finished the site evaluations of three sites of which two are in Arizona and one in Nevada.
On June 7, 1999 Orex announced it was in final negotiations of a joint venture.
On July 13th, 1999, Orex announced a letter of intent to acquire/merger the assets of a newly formed California holding corporation, Santa Maria Mining Corporation (SMMC) and an existing Delaware corporation (not in good standing) World Vanadium, LLC (MV).
SMMC appears to be an asset spin-off from another corporation or individuals but has no revenues or debt just BLM mine claims, equipment, and contracts. MV appears to be a dormant corporation that has no revenues but has just BLM mine claims, mining equipment, debt (approx.$150,000.00) and contracts. All these assets and liabilities are suppose to merger through acquisition into OGNC. At which time, these corporations will be dissolved and OGNC will own all the assets and liabilities plus be the surviving corporation.
Note: Due to poor DD and research another company Santa Maria Mining Company L.L.C. has been mistakenly associated with this newly formed Santa Maria Mining Corporation but as you can see the bold LLC makes the miss tax payment with fine of Less than $200.00 that is due the State of Arizona is not part of Orex's acquisition/merger. It is another company all together.
This acquisition/merger is for 10M shares of the to be acquired companies 5M shares MV and 5M shares SMMC, which are all the shares in each company, for a total of 10M shares in Orex. At the time this deal was signed the stock price was $3.00. The aggregate was $30,000,000, however, the stock is trading around $0.30 so the aggregate is only $3,000,000.00. The stock price has no bearing on this acquisition/merger because the exchange rate is a 1:1.
On July 29, 1999 Orex announced completion of the due diligence of the two companies. In the release one of the sites was given by name:
1.) WV's fully equipped and permitted commercial scale mining operations located firstly on the Colorado Plateau and (Unable to research)
2.) SMMC's fully equipped and permitted commercial scale mining operations located secondly in the Santa Maria River Valley, near Wickenburg, AZ. (This was able to be researched through the BLM)
The claims serial numbers for SMMC have been verified through the BLM
Message 10857140
All of this is scheduled to close on or before August 15, 1999.
There is a video that has been made on the Haber Gold Process, which is due out also on or before August 15, 1999 to all shareholders of record. It is an 8-minute tape and very well produced. Upon investing in this stock on the gap up from .34 to .68 on 5000 shares on July 29, 1999, I called and requested an investor package and tape. I received the tape and a lot of the literature which I OCRed and posted on line. The tape I have is a drafted copy I guess because it has tracking in the upper right hand corner.
Management Background Search: (Within my resources)
Of the four principals on the website, I can find nothing on them in the SEC website nor the Federal Trade Commission Website.
The Haber Gold Process:
PINCOCK, ALLEN & HOLT, INC August 1985 EVALUATION OF THE HABER COLD PROCESS Message 10829099
Edward S. Babcock & Sons. Inc. 24 March 1988
HABER GOLD PROCESS (HGP) PASSED CALIFORNIA'S DEPARTMENT OF HEALTH SERVICES STRINGENT AQUATIC TOXICITY TESTS Message 10823286
Lyntek, Incorporated APRIL, 1996 REPORT OF LIXIVIANT STUDIES ON FLOTATION-CONCENTRATE Message 10827041
The Part of the Article in Business Week of April 19, 1999 is in the header of the SI thread Created on May 21, 1999 By Goldloaded
Subject 28465
"Mining Stock Digest' Article (April '99) Plus there is no Patent and the four testing facilities -
Message 10801367
On May 24, 1999 Financial Sentinel Investment Opinion
Message 10746548
The Mining Stock Newsletter of July 15, 1999 (had to OCR it from a fax)
Message 10737176
Note: Unable to get the slated time of this appearance on CNBC.
The BULL AND BEAR Just profiled ORXX 8-4-99:
thebullandbear.com
Note: The Bull & Bear Financial Report is running in its current issue a report on Orex. It will also be posted on their Web site this week along with their August issue of the Monetary Digest and other interesting articles. If you would like a copy of the print version then register on the web site.
Orex's Website (Note: the press releases have not bee updated as of yet Nor has the video tape which has been digitized been uploaded. Shortly after posting the tape would be on the site. The server crashed. They are in the process of fixing the server.)
orexgold.com
Yahoo News biz.yahoo.com
Bloomberg/CNET Stock Quote with news:
news.com
Clearstation Chart :
clearstation.com
New Transfer Agent: Mamouth Stock Company in N.J.
Old Transfer Agent: Intercontinental Stock
(Unchanged as of August 6, 1999) Stock structure ... Message 10789113
Market Maker Month Volume Count … otcbb.com
Last 30 Days Historical Pricing:
tradepbs.com
Historical Event Time line through June 29, 1999 ... Message 10788954
My personal opinion of the fall of this stock ...
Message 10762486
On the correct June 30, 1999 Silica was mentioned … Silica related posts ...
Message 10754723
I will update this summary as more verified DD is posted.
GB
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