RE: RE: RE: Any ideas what is going on and why nowmanstar - have you done any DD on Greenwood Gold Resources? They are an OTCBB company based in Palm City, Florida. They are currently "trading" at 2 cents. Feel free to visit their website to check out their many "Current Projects" as well as their long history of mining exploration (out of their Palm City headquarters ..LOL) Let me turn off the sarcasm and save you the trouble - they have ONE current project and I bet you can guess what that is. As for their long history of experience - I am sure you can guess that too.
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But wait !! guess who is doing the $350,000 contract consulting work for Greenwood in this JV - a company called Discovery Consultants - out of Vernon BC. Now does that name ring any bells with you, any at all? Hmmm, can you think of any CDO directors that might possibly own a company called Discovery Consultants (hint - read the fine print...).
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So, as near as I can tell the current iteration of "GGRI" came into existence just 9 months ago when the current owner purchased control for the grand sum of $30,000. Gosh, thats just before they announced a JV with a company whose director owns another company who will then provide a paid consulting service to GGRI. (The current GGRI owner's previous "waste collection" business enterprise makes for some pretty interesting reading as well - but thats a different story)
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Furthermore, "The Agreement provides for the following:
Candorado has agreed to grant to the Company the sole and exclusive right and option to acquire up to a 100% interest in and to the Property, ... The Option may be exercised by the Company upon providing the following consideration:
(a) 40% Interest
(i) 4.5% of the issued and outstanding shares of the Company issued on acceptance of the Agreement.
(ii) $350,000 expended on the property and $150,000 cash payment within 6 months of the acceptance of the Agreement, which acceptance date is February 17, 2011;"
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Now last news I read about this Summer JV business was a July 5 release but GGRI that said as of that date they had completed - wait for it, ... planning an exploration program. Now I'm sure I must be reading this wrong but it sure seems to me like they might want to hurry - 6 months from Feb. 17, 2011 would be around this time next week. And they haven't yet announced that they have started or even mobilized for this marvelous exploration program.
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Feel free anybody to correct me where I might have made a mistake in the above.
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But I am sure you guys all knew this stuff anyway ... right?