PLAN OF DISTRIBUTION
We have entered into a Sales Agreement with IAA, under which we may offer and sell shares of our common stock from time to time through IAA acting as agent. We may offer and sell shares of our common stock through this prospectus having an aggregate gross sales price of up to $5,000,000.
Also 4m+ new shares to varilease to cover repayments due them this year.
kitco has Q2 info from Lode and much new stuff on edgar as well. Haven't seen any mention of scammy "AMT deal" in any of it.
Good news is that market makers will work hard to maintain or elevate share price as their clients dump shares. gl
But of course my point was that AMT isn't foolish enough to execute any contracts as described in gasbag's "non-binding letters of intent" and are simply playing along in order to abet his fundraising efforts such that AMT may again get some cash from doing future work for Lode.
From sept until march8, Lode was releasing assay/development progress reports roughly 2x/mo with nothing in the 15 weeks or so since, indicating that the bogus "agreement" isn't in effect. gl
The Company plans to conduct additional, near term, exploration scope drilling within the Succor target area and certain core drilling for the Dayton resource area during the 2016 second half.
No mention of any Q2 exploration and development activity in Q1cc and nr just a "tentative" $1m for "second half".
If you actually believe that a fool is willing to take Lode shares at 10x net asset value in exchange for exploration and development work, wouldn't you also expect gasbag to expedite such work?
"non-binding letters of intent" are a favorite propaganda tool of junior promoters but rarely come into effect.
Lode has morphed into a junior land and and equipment sales promotion with even the dicey "road to production timeline" charade having been removed from May Lode website presentation.
It could be that gasbag,in his own devious way, is saying that no shares will be issued for future exploration and development unless/until shares rise above $.58/ sh. gl
For Sale: 40 Pristine Acres in Storey County, Nevada!
A Beautiful Level Lot, No Flood Zone, Road Access, Stunning Mountain and Valley Views.
Several Comparable SALES in the Immediate Area from $37.5K to $65K.
Several Comparable Properties Listed in the Immediate Area from $35K to $80K.
Cash Price: $19,999, Cash for Recorded Deed in Hand looks like some unimproved properties are asking $1-2k/acre with this one at only $500/acre. quite the imagination has gasbag. gl
r Purchase Agreement.
When the Company initially acquired the San Dimas mine, the sales from PEM to STB were
made at the spot market price while the sales by STB to Silver Wheaton Caymans were at the
contracted PEM Realized Price, which at that time was $4.04 per ounce
Primero unilaterally decided to sell silver to Silver Trading Barbados at "realized price" rather than previous "spot price" and Mexicans gave them an advanced pricing agreement which allowed Primero to pay tax at realized rather than spot for 2010-2014 tax years. Now they say "oops" and claim for
repayment based on spot.
Primero sells silver to their Barbadian subsidiary which then forwards it to SLW Caymans which leaves the SLW end of the transaction outside of Mexican juridiction. gl
Any developer of commercial/residential real estate would include legal provisions for a substantial "no mining" radius zone around his purchase which would remove an area much greater than his purchase from future exploration/development/ mining/hauling..
And then there's the carson river mercury super fund thingy which makes most of Lodes land undesirable from the get-go. gl
Substantially all of our land holdings are within the Carson River Mercury Superfund Site (CRMS) Study Area and portions are within the risk area boundaries identified by NDEP and the United States Environmental Protection Area (USEPA). These risk areas have been defined due to the known or suspected presence of certain contaminants of concern, including mercury, arsenic and lead
Best to pull charts out of your #$%$ and continue pumping them rather than "fundamentals" about which you have no clue. gl
Probably from half-wit Heiko Ihle who has shamefully been pumping Lode for a few years now.
Could be Wainwright has taken some of the recent underwriting at a discount and is attempting to dump them onto their most gullible Rodman&Renfrew/Heiko Ihle clients. gl
Until October, 2011, the Company computed in
come taxes i
n Mexico bas
n selling all silver produc
ed at the San
Dimas mine at market prices (the price in the Internal SPA that it was required to a
the acquisition of the
Dimas mine). From
therefore, the si
r sales to Silver Wheaton Caymans realiz
approximately $4 per ounce, however, the Company recorded incom
taxes based on sales at market prices. O
Primero received a large tax rebate and greatly enhanced share price after ruling was announced oct5/2012.
The individuals who were able to convince any gov. to give up substantial annual revenue must be in great demand. gl
Wheaton river minerals originally established SLW as an offshore sub whose primary assets consisted of low price silver delivery obligations from WHT Mexican mines including SD. To determine "tax avoidance intent" it would be necessary to review WHT financials.
GG acquired most of SLW along with SD when they took over WHT and gradually sold off entire SLW holding before selling SD and long term silver delivery liability to Primero for $600m or so in shares and cash- at that time it included an obligation to pay Mexican tax at spot price rather than sales price.
New Mexican gov has taken power since on a platform of ending corruption and waste and may have found both in association with previous agreement. gl
For the 2015 tax year, the Company continued to record its revenue from sales of silver for purposes of
Mexican tax accounting in a manner consistent with the APA on the basis that the applicable facts and
laws have not changed. The Company’s legal and financial advisors continue to believe that the
Company has filed its tax returns compliant with applicable Mexican law. The Company has until the
end of 2016 to file an application for a renewed APA in respec
t of 2015 and the four subsequent tax
years. Given the legal challenge by the SAT against the APA for the 2010
-2014 tax years, the
Company currently believes it is unlikely the SAT will agree to an Advance Pricing Agreement for the
-2019 tax years on t
erms similar to the challenged APA. To the extent the SAT determines that
the appropriate price of silver sales under the Silver Purchase Agreement is significantly different from
the PEM Realized Price and w
hile PEM would have rights of appeal in co
ion with any
it is likely to have a material adverse effect on the Company’s business, financial
condition and results of operations..... from sedar recently filed audited financials.
"bonus shares" speculation was an attempt to rationalize an absurd proposition [$.56/sh, 6mo hold] when those fantasy numbers appear to be "hypotheticals" based on earlier Lode market price.
If AMT actually wanted to own Lode shares,gasbag would be more than happy to sell them quantity @ $.35/sh
If AMT does agree in future to take shares in lieu of cash, terms are likely to be very similar to Varilease deal and would be defined in a "supplemental engagement letter" with price of shares based on market price at that time and no hold period.
Much as conv pref having strike price of $1.65 and being settled for .$35, or Hope gold coin "big deal" , or "soaring local real estate prices", gasbag is doing everything possible to convince the faithful that substantial entities have long term belief in Lode as it sits on the verge of bankrupcy. gl