Leigh, Johan et al,
I recently (2 weeks ago?) spoke with Jim also. He said the (German) guy (old business friend) owns two Kazackstan properties with 2.75 million oz of gold "proven and indicated" by drilling and tunneling. He owns a big trucking company in Germany and went to Kazackstan 6 yrs ago right after the breakup of the USSR to look for opportunities. He found these and has apparently been developing them as noted above.
Now he needs a company in Vancouver to deal with marketing, and other bureacracies. Since BXS is a trading company there, he is interested in the shell and would probably vend in these properties (I guess like the original deal with Krebrink). Jim told him BXS did not have any money to put up, but this guy was apparently willing to kick in some cash.
When I last spoke with Jim, the guy had gone to Kazackstan to see the engineers reports on the assays, etc. On his return he told Jim he wanted to start a letter of intent with Jim / BXS. I asked Jim, "Why take this route (to vend into BXS)" ? His answer: It would take the guy 1-1.5 yrs to get his own company set up in the mining industry (he has little mining experience), so it is faster this way. Still, I get the impression he is in no rush -- he's had these properties already for 6 yrs, give or take . . .
Bottom line -- Yeah, it all sounds promising, BUT . . . We just need to keep in touch with Jim to see if/when any of this starts actually coming true on paper. Patience (well, obviously anyone still following this thread has that in spades -- including me with a bundle of shares purchased at much higher prices).
Good fishing in this market . . .
Walter |
