RE: RE: RE: NEWS ... our holding CTFrom 12/15/08 MD&A: Valencia Venture Inc. (iii) 1,145,500 common shares 572,750 1 14,550 0.4%
CHX was the symbol for Cash Minerals. As mentioned, its symbol changed to PIT. Do a keyword search in Aberdeen filings and you'll find the money that went to Cash.
Pitchblack Resources Ltd. (Formerly Cash Minerals Ltd.) On February 2, 2010, the Company entered into a secured debenture subscription agreement with Pitchblack Resources Ltd. (“Pitchblack”), a Canadian based energy company focussed on uranium and coal exploration and development, which owns the Division Mountain Coal Deposit and other prospective coal properties in the Yukon, and owns a 100% interest in the Mike Lake Gold Project, also in the Yukon. The Company loaned Pitchblack $500,000, which will mature and become due and repayable on February 2, 2013. The debenture bears interest at a rate of 10% calculated and payable semi-annually on the last day of June and December commencing June 30, 2010 until full and complete payment of this debenture. This debenture is secured against all of the assets of Pitchblack and shall rank senior in priority to any and all other debts of the Cash Minerals subsequently incurred subject to applicable laws. At July 31, 2010, interest of $20,411 due on June 30, 2010 remained outstanding. A director of Aberdeen serves as a director of Pitchblack.
Cash Minerals Ltd.(iii)3,600,000 common shares3,600,000 warrants expire July 2, 2010900,000 228,600 0.7%
My point is that several million dollars from Aberdeen's treasury has been used to support these shells even though they have gone for several years without any apparent business plans. All of the good projects that created Avion, Sulliden, Crocodile, F&M Coal etc... have been new acquisitions. So far nothing of value has come out of the dumpsters (CHX, VVI, and CT).