Tuesday, September 24, 2013

Rolling Harry Barr gathers no moss

Proving that old adage that Venture promoters never die ... they simply morph into something bigger and better next time, the probably evil Mr. Barr has yet ANOTHER for sure, 100% winner for public types.
Gordon Chunnett and Harry Barr's Southern Sun Minerals Inc. (SSI) has already filed an information circular about its plan to acquire Rock Star Resources Inc. for its qualifying transaction. The companies signed a letter of intent just two months ago.

Southern Sun will issue 1.74 million shares for Rock Star, which has an option to buy the Galleon gold property in Alaska. After completing the acquisition of Rock Star, Southern Sun will then be responsible for paying the underlying owner of the Galleon property, Anglo Alaska Gold Corp., a total of $165,000 (U.S.) cash and 600,000 shares, due in stages. Southern Sun will also have to spend $400,000 (U.S.) on exploration by the end of 2016.
Before we run for our chequebook we best delve into those devilish BarrTardian details ...

The information circular reveals that of the 1.74 million shares that Southern Sun will issue for Rock Star, 500,000 will go to each of Mr. Barr and Kevin Lawrence, both directors of Southern Sun and Rock Star, and another 500,000 will go to Roy Gould, a former vice-president and partial owner of a B.C. firm called United Capital Securities, which was an introducing broker. Mr. Gould resigned from United Capital in 2005, shortly after a U.S. judge ordered him to pay a $500,000 civil penalty and repay $13.84-million in illegal profits from the sale of unregistered shares of an OTC Bulletin Board listing, Starnet Communications International Inc., a company that in 1999 switched its promotion from operating several porn sites to Internet gambling. Mr. Gould was a consultant to Starnet. The stock traded up to $26 (U.S.) in July, 1999, giving the company a market valuation of $1-billion, but later that year it declined after the Vancouver police raided the company's headquarters and the homes of six directors in search of evidence of illegal gaming and pornography. In 2005, after Mr. Gould demonstrated his inability to pay the U.S. judge's fine, the judge waived the civil penalty and reduced the disgorgement to $1-million, or about half of Mr. Gould's net worth at the time. Unsurprisingly, Mr. Gould will not be a director or officer of Southern Sun.

Money in the fukkin bank THIS time? Pfffffft.


Monday, September 16, 2013

Keir Reynolds revisited = LoL

So its past time to check in on our near hero Keir Reynolds and whats the latest?

Well, there's a "world class" something in the works. Pfffft. Our new junk enterprise moniker is GLENMARK CAPITAL CORP - GLM.v


Glenmark Capital Corp.'s board has initiated a strategic review of its current mineral assets as well as several potential project acquisitions. Over the past several months the company has seen a number of interesting projects become available. The board will spend the next few weeks continuing to review a few of the most attractive projects that have come available with a view to potentially sign an option agreement. The board feels that the addition of a new project combined with its current mineral assets could allow it to develop a work program for the coming spring/summer 2014, that could provide significant shareholder value. The company is excited to take this critical step toward potentially operating a world-class project.

Glenmark plans to provide regular updates on its progress in evaluating and potentially acquiring additional projects, as well as developing a work program for the coming year."
What a bloody damn joke. The co is dopey too.