Re: GHDC 10 K report??--I have not seen that
posted on
Apr 14, 2012 12:16PM
(Edit this Message from the "Fast Facts" Section)
Pic- RKs reply is in Garick's previous post that begins with Rich. RK's responses are embedded in Garick's questions.
RK did not address the 70%/30% ownership issue. Anyone who has dealt with him knows he often does not address peripheral issues. But the 10K couldn't be clearer:
GoldLand owns an undivided 29.167% fee title interest in seven properties, and ten unpatented mining claims, which we lease from GoldLand under a lease dated October 11, 2007.
GoldLand is not the sole owner of seven of the patented claims that we lease from GoldLand, and instead owns only 29.166% of the claims. The remaining 70.834% of the patented claims are owned by a large number of descendants of the original parties that obtained the patent rights to the mining claims. We are in the process of trying to identify and acquire or lease the remainder of ownership of these mining claim
And if you don't believe SFMI, here it is from GHDC's 10K:
We are not the sole owner of seven of the patented claims that we lease to Silver Falcon, and instead we only own 29.166% of the claims. The remaining 70.834% of the patented claims are owned by a large number of descendants of the original parties that obtained the patent rights to the mining claims. Silver Falcon and we are in the process of trying to identify and acquire the remainder of ownership of these mining claims.
GHDC has leased ALL of their ownership of the claims to SFMI. SFMI is responsible for doing all the work to extract the gold and silver, GHDC gets their lease payment and 15% royalty. Very simple.
SFMI has added lots of claims (2000+ acres in some statements) that are OWNED by SFMI, not owned by GHDC or leased from them.
The Great Western claims are 100% owned by GHDC and leased to SFMI.
SFMI also OWNS the Sinker and surrounding claims, subject to a 15% royalty.