Past year: ▼ 31%(0.45c – 1.00c USD)
Each one in plain English, with the numbers worked through for a shareholder.
19 July 2010material agreement▼ Bad
Second Beeston extension in four months, pushing both the share issue and the first C$50,000 exploration program out to December 2010 and raising the share consideration from 1 million to 1.5 million shares. The British Columbia claims were costing more shares and still had no work done on them.
31 Mar 2010material agreement▼ Bad
Could not issue Beeston its 1 million shares on time and bought a three-month extension by promising another C$50,000 of exploration spending - the first sign the company could not meet even the modest terms of its new project.
25 Sept 2009material agreement● NeutralMajor
Two months after dropping the Nevada gold ground, took an option from Beeston Enterprises over half of eight mineral claims (about 3,900 hectares) in British Columbia, payable in 1 million shares plus C$250,000 of exploration spending by September 2011. The same filing abandoned a uranium joint-venture option signed with USA Uranium only weeks earlier.
4 Sept 2009auditor change▼ Bad
Second auditor change in four weeks: Seale & Beers quit after 28 days without doing any work, citing concern about how its independence would look, and Child, Van Wagoner & Bradshaw took over. Two auditors through the door in a month is a governance warning sign in itself.
12 Aug 2009auditor change● Neutral
Auditor Moore & Associates resigned and was replaced by Seale & Beers. Moore's past reports had been clean but carried a standing warning that the company might not survive as a going concern.
7 July 2009material agreement termination▼ BadMajor
Walked away from its only project: the 400-acre Nevada gold claims optioned from Gold Explorations in 2006 were handed back, ending all payment obligations and leaving the company (then Mariposa Resources) with no property at all.
