No windsinger,
there are no bashers here, the bashers left when Blue and Ice left a month or so ago... what you have here are certain individuals who think that factual information is as worthy of discussion as the constant speculation about when the 504 is going to be exhausted.
If HDSN was on the ask I would worry about dilution. If the cmf were red I would worry about dilution. If we had massive volume with the pps going down I would worry about dilution all we got is bashers no dilution. April 10th pr The Company plans to begin mining some of its claims, pending regulatory approval, in May. May 2nd pr. The company plans to begin mining operations, with estimated reserves of up to 1,000 tons of Uranium, in May. Now the May 2nd pr didn’t say pending regulatory approval it didn’t say pending johniraq’s approval it said they plan to begin mining operations. When they do the stock will go up.
Youre quite right, the May 02nd PR did not say pending JohnIraqs's approval (bordering on funny there... congrats..), it didnt say pending regulatory approval, it did say they plan to begin mining operations...
Now the board Mod has stated categorically that my DD has to be delivered with details relating from whence it came... In contrast however, speculation is allowed on this board... so let me begin with the speculative part before I deliver a little DD for you Wind... Are you speculating that as the May 02nd PR did NOT say Pending Regulatory Approval, that regulatory approval has already been given...? Quite an important distinction dont you think...? and precisely the reason that we have been conducting the Due Dilligence we have, by contacting state and Federal Agencies... My DD is sneered at, but your speculation that regulatory approval is a done deal is just fine.... is that the situation here...?
Moving on...
The company said they plan to begin Mining Operations... The following is the interpretation of Exploratory Mining Operation used by the Bureau of Land Management, US Forest Service and Division of Oil, Gas and Minerals in Utah State.
MR-EXP
This Notice of Intention to Conduct Exploration form applies only to exploration activities. "Exploration" means surface disturbing activities conducted for the purpose of discovering a deposit or mineral deposit, delineating the boundaries of a deposit or mineral deposit, and identifying regions or specific areas in which deposits or mineral deposits are most likely to exist. "Exploration" includes, but is not limited to: sinking shafts; tunneling; drilling holes and digging pits or cuts; building of roads, and other access ways; and constructing and operating other facilities related to these activities. A $150.00 initial application fee is required to accompany the application form and annually thereafter, until the operator reclaims the site and obtains a formal release from the Division.
As you can see in Bold, the term exploration covers much more than the extraction of Uranium Oxide and Vanadium Ore... I guess identifying where it actually resides and being able to access it are trivial aspects, but necessary none the less...
So onto the DD which has been so roundly criticised on the board lately, to my surprise I must admit... facts are facts after all... Not only that, but as an RSDS shareholder, who is very long this stock, I believe it makes perfect sense to confirm that the company is actually doing what they tell us they are doing... or is that somehow an alien concept here...?
After speaking to Mr Ted McDougall who is the resident geologist at the Monticello Field Office of the Bureau of Land Management, he very kindly informed me that permits for mining operations in Utah State are required to be issued by both the State Division of Oil, Gas and Minerals, and the Federal Authorities, either BLM or US Forest depending on where the claims were located. He also knows Anthony Brandt (for those who dont know, Russell Industries registered agent in Utah and former 1/3rd equal partner of The Pay Day Claims, and who I talked to the following week) and he told me that Anthony had been into the office to discuss the permitting requirements with him, but that he had referred him to US Forest as the claims were to be found on their land...
The requirements for permits to be issued by both Federal and State Authorities are that a Notice of Intention be submitted and approved, and in the case of the Feds, also a reclamation surety/bond.
I attempted to contact US Forest, but they were unwilling at this point to divulge any information related to the submission of a Permit Application by Russell Industries.
I then spoke to Susan White and Paul Baker at the Division of Oil, Gas and Minerals in Salt Lake City. They were both very helpful and explained once again, that both Federal and State Permits were required prior to Mining Operations taking place. At this pointin time (5/3/07) neither one had heard of Russell Industries, the company was also not registered as a going concern with the Utah Secretary of State, which is a requirement prior to the issuance of a mining permit in Utah.
On May 10th Paul Baker sent me the following e-mail... it confirms Anthony Brandts conversation with Ted McDougall at the Bureau of Land Management in Monticello and expands on the requirements for an Exploratory Mining Permit...
-----Original Message-----
From: Paul Baker [mailto:paulbaker@utah.gov]
Sent: Thursday, May 10, 2007 11:40 PM
To: xxxxxxx
Cc: Susan White
Subject: RE: follow up....
I found some information:
Tony Brandt spoke with the BLM geologist in Monticello (Ted McDougall) about this operation. It's on Forest Service land, so the BLM will have little/nothing to do with it.
Ted told me Russell Industries wants to go into an existing mine and take some samples. They also talked about doing some drilling. Once they get a better feel for what's there, they would submit a plan of operations for a mine.
If the operator gets the paperwork in, exploration could begin fairly quickly, potentially in May.
This is all the information I have at this time. I am trying to reach the Forest Service geologist to see whether Russell Industries has actually filed anything with the Forest Service, but I know the State of Utah has not received a permit application.
I have checked back regularly for updates from the Div OGM and Paul Baker has since confirmed for me that on the 14th May, Russell Industries registered with the Division of Corporations, thereby meeting the requirement to file for a permit with the state, but that a notice of intention had still not been received.
Then on the 17th of May, I received notice from Paul Baker that he had spoken with Joel Nowak (US Forest Service) who informed him that they had received an exploration notice of intention from Russell Industries.
In my humble opinion this is great news, it confirms that Russell Industries are actually moving forward as stated, but as distatsteful as some of you may feel it is to read, it also seems to suggest that the timeline for the projected start of Mining Ops in May is very tight indeed... It is entirely possible that they do begin, but it is much more likely to be support operations and identifying the location of Uranium and Vanadium Ore than the actual extraction of it...
Although RSDS could go it alone, as suggested by them floating the idea of BRW (Brandt, Ramsay, Wilcox... anyone... recognize the names?), to mine these claims in house so to speak, I'd really like to see a JV or buyout take place...
Ok.. now this is the part where you all bash me for delivering the DD and then go back to considering the completion date of the 504...
Cheers, J.
