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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (93408)	11/18/2005 9:45:36 AM
From: scion	Read Replies (2) \| Respond to of 122089

GWGO and Stephen Lumb - LUMB plum in the firing line again The Sunday Times - Business The Sunday Times November 13, 2005 Prufrock LUMB plum in the firing line again THE mystery surrounding Stephen LUMB, the playboy chairman of St James Holdings, deepens. He is already facing allegations of being a bad payer of debts, and last week investors in Hanover, a shell company controlled by LUMB, claimed he was a bad businessman, too. Among complaints at Hanover was the allegation that he had failed to distribute the company’s assets to shareholders as he had stated in public announcements. There’s little the 7,000 private investors could do. One, who decided to tackle LUMB directly, was threatened with legal action, and told in an e-mail that St James Holdings would be taking control, so it didn’t matter anyway. LUMB insists he is being unfairly targeted. He said: “It is success, happiness and huge wealth that counts to me. The jealous, pitiful and unsuccessful unfortunates of this world love to attempt to bring down those they envy, but they’ll never succeed.” timesonline.co.uk "It appears that the folks selling are . . . the same folks who are buying!! Just about every transaction GWGO has ever done has involved companies controlled by LUMB selling supposed assets back and forth to each other or companies of unknown ownership that all look very much like the dozens of shells controlled by LUMB (e.g., same country of incorporation, created and/or changed name at about same time, etc)." By: DC-Steve 17 Nov 2005, 11:55 AM EST Msg. 7302 of 7302 (This msg. is a reply to 7289 by copperminer2.) Jump to msg. # copperminer, not true. Mineral rights are only assets if they give you rights to mine an area with minerals worth mining. That is, the rights must apply to mineral reserves that can be mined economically (i.e., profitably). Rights that don't contain reserves one can mine at a cost lower than the revenue produced by the mine are worthless. And what has GWGO said about the reserves of the rights it has acquired? When it says anything at all, it always says the same thing: the acquired rights have "no proven reserves." That's a quote. A repeated one from GWGO. And THAT'S WHY GWGO's very own financial statements declare unambiguously that they HAVE NO ASSETS!!!!!!!! You can take a wild ass guess and pin your hopes and dreams that the dubious characters behind this company really have acquired valuable rights that will some day appear on their balance sheet. AND you can dream that they will some day acquire some financial resources that will allow them to ACTUALLY START mining operations of some sort, some day. But why would you? First of all, all the players behind GWGO have exceedingly shady histories that suggest scamming investors from South Africa to Great Britain to the US of A is their primary profession. Second, they didn't pay anything to acquire the mining rights other than stock in GWGO. And GWGO stock, as you tacitly admit when you say their only assets consiste of mining rights, has no value without the rights. Now stick with me here if you can. Put it together and this means GWGO is telling you that they bought valuable rights with stock that had no value without the rights. Do you really think this is possible? Now who do you suppose would be dumb enough to sell them something of value in exchange for something that had no value without whatever was sold? It appears that the folks selling are . . . the same folks who are buying!! Just about every transaction GWGO has ever done has involved companies controlled by LUMB selling supposed assets back and forth to each other or companies of unknown ownership that all look very much like the dozens of shells controlled by LUMB (e.g., same country of incorporation, created and/or changed name at about same time, etc). It's a shell game, dummy. How much more obvious could it be? They took a worthless Nevada shell and used its worthless shell stock to buy (often from themselves) worthless shell companies with their worthless mining rights. And they concocted an unnecessarily complex web of offshore fronts to hide the fact that they were usually selling this crap to themselves. Actually, they were selling it to whoever was foolish enough to invest in GWGO believing it actually was or some day would be a real mining company. The GWGO principals will simply cash out on their worthless assets by selling worthless shell stock to people who don't understand the difference between a mining company and a pyramid scheme posing as a public corporation. And you, we now know, are intent on helping them pull this off in any small way that you can. How sweet. ragingbull.lycos.com