Wow lots of people living in a dreamworldHhappy, Saturn. Either getting paid by Chuck or have way to much invested in NAG to think straight. Now they are trying to fool others into buying in. Well just a little dd will show you how these guys operate. Charles Desjardin. President of three venture companies. SLT/KBC/NAG.
SLT:Flagship properties, RIOU lake uranium property in Sask. Deep seated targets and very tough and expensive to drill. Attempted a drill program on Riou and failed miserably. SLT/RMX jv in Red Lake. Any chances of success would be due to RMX operating the project. I believe they have spent nearly 2 million on Red Lake North with nothing but a speck of gold to show for it. SLT just did a 5:1 rollback on it's float. Some interesting properties but with lots of work to do and no money. Trading at 8 cents after rollback, not worth 8 cents at this point.
KBC:Chuck took over this company, why??? Beats me. KBC is a company that was and still is in shambles. How bad of shape is KBC in???, well last fall KBC tried to raise money by offering 40 million shares at 2.5 cents with attached warrants of course. KBC managed to fill only about 10% of the PP so that is an indication of how much interest people have in investing in KBC.KBC also owes some debenture holders over 500G with daily interest accumulating. Last we heard was that a court ordered re-payment was issue for immediate payback to the debenture holders. But I suppose you can't squeeze blood out of a rock. So I assume the debenture holders are in limbo waiting for something positive to come out of KBC so they can recoup some of their money. Speaking of positives well the only thing KBC has going for themselves is their JV in California with Chevron being the operator and buying into 50% of the jv, at least they have somebody who knows what they are doing there. Last thing we heard from the california venture is that the partners had drilled 4 wells and were supposed to start on the last well of the proposed first phase of drilling. Last news we got for the first four wells was that one well was in production at a reduced rate of 50 bbls per day and 3 were dry wells and abandonned. The good thing is that KBC is receiving some revenue but KBC only earns 6.25% of the 50 bbls of oil per day. So if you calculate the gross revenues of 6.25% of 50 bbls(3bbls/day) of oil per day say at 50$/bbl. The gross revenue they are earning right now from california is roughly 150$ US per day. If you subtract the cost of drilling the well and the cost of producing the well and whatever else there may be for expenses I figure KBC is making about the same amount of money that a full time tim hortons employee might make in a year. In regards to financing KBC tried to raise 1 million dollars last fall by offering 40 million shares with warrants for 2.5cents. They managed to fill only 10% of that PP for a total of just over 100g. I was surprised that they managed to find that many takers actually. So to make up for the shortfall in KBC, Chucky transfers, or lends as he calls it, 400g from NAG to KBC. At least he personally guaranteed the loan.lolololololol. Imagine that he takes money from NAG to prop up KBC then he turns around and does a PP for NAG. Where the hell is the exchange when questionable money transactions like this happen. The exchange is supposed to monitor Krap like this. Something smells fishy here.
NAG:Flagship property-Louise Lake. Well they got their flagship property on the backburner. Louise Lake will never be a mine and nobody is interested in it. Too low of grade and to much arsenic. So now they turn to coal. Yep they are going to be coal miners in WV.lol In a time when majors are scaling back production as demand continues to drop and inventories continue to rise. Oh and did I mention enviromental issues. NAG expects you to believe that they are going to walk into WV and start producing coal. Yeah right. Good luck with that. All other properties NAG holds are very grass roots and will cost millions to explore with no guarantee that they will ever find anything. Financially speaking they just gave whatever cash they had to KBC to keep them alive as KBC cannot raise money for themselves. Now NAG is looking to raise money in this market??? Good luck with that.
Now once you've done a little dd on Chuckys three ring circus you might want to rethink your decision in investing in the three dog nights. Or if you are already invested than may I suggest you pull it out and put it somewhere else where at least there is a chance of survival. GLTA
MM