UNBELIEVEABLEwow. Charles is using NAG money to finance his other loser companies!!
NO DEAL!! I bought into NAG for the Coal... I don't own KBC because it is a crap company, period. I don't think NAG should be rasing money and then loaning it to another one of his 'pump n'dump' conmpanies.
Wow, it never ends here with this bunch of con artists, does it?
Why not pay attention to what is happening, companies increasing up to 200% in a few days on news of a drill program in sask... and these guys what are they doing.... loaning out the money they should be using to drill to another 'company' in which he manages also.
Great Friday afternoon news
Way to go charles.
Consolidated Beacon Resources Ltd. Secures Loan
VANCOUVER, BC, Mar 06, 2009 (MARKET WIRE via COMTEX News Network) --
Consolidated Beacon Resources Ltd. ("Beacon" or "the Company") (TSX-V: KBC) announces that it entered into a Loan Agreement dated December 2008 with North American Gem Inc. The purpose of the loan is to secure the Company's interest in the San Joaquin Property, California. The principal of the loan is $400,000.00 CDN with interest calculated at 7.5% annually and shall become due in full on March 31, 2009. North American Gem Inc. has registered a General Security Agreement against the personal property of the Company.
The Company and its Partners (the "Partners") began drilling the East Slopes Project in November 2008 and to date four wells have been drilled, with one well currently in production.
About Consolidated Beacon Resource Ltd.
Consolidated Beacon Resource Ltd. is in the business of evaluating and acquiring oil and natural gas properties for exploration and development in Canada and the United States. The Company's shares trade on the TSX Venture Exchange under the symbol KBC.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
This release may contain or be deemed to contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual events or results. Readers are referred to the most recent documents filed by the Corporation on SEDAR (www.sedar.com), specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Corporation undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Forward-looking statements include references to production and cash flows before and after payout.