"This agreement and the initial investment into the company allows us to tap into the wealth of resources available via MML in order to move forward aggressively with the Treasure Canyon project"
So that's from Buscar Company's president on the deal with Sholom Feldman's Mars Mines Limited which as we know is registered at the same address as 'his' CGB They've (Buscar) since merged with Eon Discovery Inc.
The first thing to figure on is how have MML shown that they have a "wealth of resources available" ? We've only recently found out they existed...so I made a new thread (this one) for MML/Buscar/Eon.
As much as CGB are looking like a Sinking Ship - the Feldmans & Co have always somehow survived on funding - so what's up the sleeve or down the rabbit-hole this time ??
Continued....
The financials show that CGB are essentially a failure in their new endeavour over the past few years - there's no denying that sadly, with the latest quarterly only showing $54,000 revenue. Shareholder investment that got them on the track to becoming a new business has all but been destroyed. YET, they've somehow managed to hold on to $8.6million cash as of the last report.
In the Yahoo article alluding to MML having a wealth of resources to tap into might only mean 'personnel' resources - hoewever, they were able to come up with $500k to get into Buscar/Eon.
Currently we have this endlessly extended suspension for a 'Proposed Acquisition' - all seeming a bit too clandestine for normal activity imo. Of course there'll be confidential aspects to it but for it to drag on this long, once again tying up shareholders access to their own 'investment' (just as they did in 2018/19) - but this time it's absolute silence !
So, cutting to the chase.... The Feldman's made a LOT of money from their Privately Owned AGMPL via CGB and other entities such as the former QBL.
Pretty sure AGMPL are folded now though there is a Discretionary Trust called AGMP but it's not registered for GST so it wouldn't have the same status. Sholom Feldman no longer gets paid via AGMPL - he's on salary.
To draw a comparison, MML - Mars Mines Ltd are also privately owned, limited by shares held by the owners obviously, which shares the same business address as CGB.
I think you know what I'm getting at here so just in case, I'll stop at that. Suffice to say, it's not (imo) unreasonable to consider that this proposed acquisition might be very, very close to home.
Let's see if there's anything down the rabbit-hole when the quarterly is released at the end of the month.
CGB Price at posting:
2.1¢ Sentiment: Hold Disclosure: Held
