Summary as of August 26, 1999 of key SI posts on DD for review and consideration NOT a buy/sell recommendation ... Do you own research before you invest and verify everything. Also there are a lot of Naysayers on this stock so make sure you do 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. This is a composite of numerous posters on line, pro and con, and real world verification so it is not just mine.
If you want to know who I am, here is basically what happen to me so be careful you can lose every cent you have and it CAN happen to you.
Message 8003018
Have principals and a plan when investing ? this is mine I developed in June of 1997.
techstocks.com
This is the research sheet I use to do DD on a company
techstocks.com
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:
Arizona HQ Office:
OREX GOLD MINES CORPORATION
Wickenburg, Arizona 85390
Phone: 520-684-2737
Fax: 520-684-5065
Donald Blackburn, CEO
Florida IR Office:
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 F99000003234 :
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, no business 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 as of March 4, 1999. After filing all necessary documentation with NASD it became a NSCC Eligible Security (National Securities Clearing Corporation) which is denoted in the link by **. otcbb.com
It actively began trading on March 10,1999. Upon completion of this turnkey plan of operation, the Haber Gold Process will be field tested after almost a decade of waiting.
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. ? Yep it was a 504 for approx. 300K of stock.
On May 19, 1999 Orex finished the site evaluations of three sites of which two are in Arizona and one in Nevada. (Note: these are not the mines or sites that are part of the Santa Maria Mining Corporation which was recently acquired)
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 (MVLLC).
SMMC appears to be an asset spin-off from another corporation or individuals but has no revenues or debt just BLM mine/land claims assigned to it , equipment, and contracts. MVLLC appears to be a corporation that has no revenues directly but has 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, however, it may be or is associated with the owners of SMMC & WVLLC. I dunno for sure so I will add this. Also it has been confused with Santa Maria Resources Inc. (OTC:BB SMRR) which is another entirely separate non reporting public company.
This acquisition/merger is for approx. 10M shares of the to be acquired companies 5M shares MVLLC and 5M shares SMMC, which are all the shares in each company, for a total of 10M shares in Orex, I would assume with the fall in price this could be subject to change. 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.) WVLLC's is suppose to be fully equipped and permitted commercial scale mining operations located firstly on the Colorado Plateau (WHICH HAS NOT CLOSED) and
2.) SMMC's is suppose to be 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 WVLLC have been verified through the BLM
Colorado ? Message 10912125
(To date, this one has not closed on being acquired)
The claims serial numbers for SMMC have been verified through the BLM
Message 10857140
Assestment of the SMMC property by Gene Eynart 1993
Message 10870818
Some of the Santa Maria Mine Permits/Licenses:
1.) Arizona Dept. of Water Resources Operation Division. # 33-94841 for appropriation of water. Application of Public Water Rights Cert # 94841-0000 in Tom Mills name assigned to SMMC for the mill at the Santa Maria River Projection.
2.) Arizona Dept. of Water Resources Operation Division. # 55-8051381 For Carl Olsen for the mining and milling of the Santa Maria mine.
3.) Arizona Dept. Of Environmental Protection ? Ground Water Quality Protection Permit. # G-0077-13 Larry McMillian
4.) Arizona Dept. of Trans. / Fuel Use License # 0905820 Santa Maria Mining
And there are more permits and licenses but this is enough to prove they have the permits and licenses and whatever. These alone are about 200 pages of documentation.
On August 16th 1999 Orex Gold Mines Corp. Acquires Santa Maria Mining Corp.(SMMC) but did not closed on World Vanadium, LLC
There is a video that has been made on the Haber Gold Process, which is due out also 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 Patents on the HGP 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.
SmallCap Newswire.Com
smallcapnewswire.com
Orex's Website (Note: the press releases have not bee updated as of yet Nor has the video tape.)
orexgold.com
World Vanadium, LLC?s website under construction and still in negotiations to be acquired: (Note this site has been inactive for months)
.http://209.210.173.142/Default.htm
Yahoo News biz.yahoo.com
Bloomberg/CNET Stock Quote with news:
news.com
Clearstation Chart :
clearstation.com
New Transfer Agent: Olde Monmouth Stock Transfer Co., Inc. 77 Memorial Parkway, Suite 101, Atlantic Highlands, NJ 07716
.
Old Transfer Agent: Intercontinental Stock
Corporate & SEC Counsel: McDermott, Will & Emery,
mwe.com
Accountants: Goldstein Schechter Price Lucas Horwitz & CO., PA
gsplh.com
Stock structure as last verified on 8-25-99 ... 23,342,500 outstanding / 4,893,000 Restricted / 18,449,500 Float / 10 M in street name as of this post verified through the TA up from 1.6M a week ago. Shorts successfully shook loose shares in certificate form. There are no warrants, options, convertible debentures, reg-s or preferred shares as of this posting that I am aware of.
Market Maker Month Volume Count ?
otcbb.com
Last 30 Days Historical Pricing:
tradepbs.com
Historical Event Time line through June 29, 1999 ... Message 10788954
The Historical Daily Log? With DTC report volumes supplied by the company and the street name stock figure supplied by the Transfer Agent.
Message 11081121
My personal opinion of the fall of this stock ...
Message 10762486
Another opinion I received ? However could be someone selling or any number of possible trading scenarios.
techstocks.com
On the correct June 30, 1999 Silica was mentioned ? Silica related posts ...
Message 10754723
More as verified DD is posted. I will update this summary
GB |
