Posted: 6/6/2004 7:45:45 PM EDT
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I own 5 million shares. This will be a very hot stock over the next few months. Conventional wisdom is that they are sitting on the worlds biggest known diamond deposits up there in Canada. Anybody else invested in this? I hate to count my chickens before they have hatched but I feel this could hit a dollar a share as soon as September. 
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CMKX -- CMKM Diamonds, Inc. Com ($0.0001) Primary Venue: Pink Sheets Best Bid: 0.0003 (1 shares) Best Ask: 0.0004 (1 shares) * Date/Time of Last Inside Change: 16:21 * Quoted on the Pink Sheets Want real-time level two quotes in this security? TRADE DATA Last Sale: 0.0004 Change: +0.0001 Percent Change: +33.33 Tick: Down Daily High: 0.0004 Daily Low: 0.0002 Opening Price: 0.0003 Volume: -,685,407,087 Annual High: 0.0090 Annual Low: 0 Dividend: 0.000 Earnings/Share: 0.00 Previous Close: 0.0003 P/E ratio: N/A Yield: 0.00 Beta Coefficient: 0.71 |
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looks like the mm's are controlling it. I predict a price increase, then a large drop- to set off a sell off. The MMs want this to shake off some shares to sell to the Fund managers when it gets off the OTC and onto whatever big board. could be a decent long term stock- if it is good enough to be true, get in early. Monday looks like a big buy day. Price goes up...then down..down. |
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The whole diamond industry is a scam. Diamonds are NOT rare. Yes, HUGE, flawless diamonds are rare, but those 1-2 carat diamonds are totally common and not worth anything near what you pay for them. The whole industry knows this, which is why 99% of diamond sellers refuse to buy diamonds from individuals at all, and those few who do will only give you a tiny fraction of what the diamond is "worth" during an appraisal. The reason prices remain high is because DeBeer's marketing and total control of the supply. Once competing product hits the market, the prices will fall out the bottom, and the scam will finally be exposed. And to those DeBeers f#$%s who've brainwashed women into expecting this or that diamond on this or that occasion, I hope you end up on welfare.  -Troy |
Word. Micro Canadian mining stocks are NOTORIOUS for being scams. The Vancouver stock exchange which is mainly composed of penny mining stocks, is scam central. Any Canadians know what I am talking aboot? |
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U.S. gets burned by lax Canadian oversight Wednesday, June 13, 2001 By ROBERT McCLURE SEATTLE POST-INTELLIGENCER REPORTER VANCOUVER, B.C. -- A miner's headlamp, a 1930s stock ticker and a picture of oil oozing from the ground in 1914 are among the memorabilia in the reception room of what was known for 93 years as the Vancouver Stock Exchange. But perhaps the most telling exhibit is a chunk of shiny rock about the size of a cantaloupe: fool's gold, the worthless pyrite confused with the real thing by early prospectors. For years, the Vancouver Stock Exchange served as the financing nucleus for so-called junior mining companies. More often than not, these start-up operations raised a lot of other people's money, spent it on unsuccessful exploration and then slipped into oblivion. The small exploration firms commonly financed in Vancouver are considered crucial by the hard-rock mining industry because they locate many of the hard-to-find deposits that pan out. But critics say the juniors, usually selling stock for less than $1 a share, sometimes allow fly-by-night operators to raise just enough capital to open mines that aren't economically viable. And when the venture collapses, the junior lacks the money to repair environmental damage -- leaving American taxpayers to pay its bill. A gold-rush mentality permeates these companies. Adrian du Plessis, a retired corporate investigator and business consultant who looked at the stock exchange intensively in the 1980s and 1990s, wrote that they are part of a "corporate carnival ... a financial freak show of sorts -- on occasion representing nothing better than institutionalized fraud." Forbes magazine in 1989 labeled the Vancouver exchange the "scam capital of the world." Another commentator called it the financial world's equivalent of professional wrestling. Often, critics say, entrepreneurs form a mining company or take over a defunct one with nearly worthless stock. After some drilling to test for the presence of minerals, they promote the stock. They may even open a mine. But mineral production is a secondary concern, they say. The goal, at this point, is to raise the value of the stock by bringing in new investors. "With these one-mine, fly-by-night companies, you make money off the share price, not what's in the ground," said Tom Bartek, a Toronto minerals economist who has worked for the Canadian government, Indian tribes and environmental groups. "You mine the shareholders. Finding a deposit is extremely rare." Criticism about stock swindles prompted cleanup of the Vancouver exchange in the late 1990s. In 1999, the Vancouver exchange merged with the Alberta Stock Exchange -- the very place, according to du Plessis and even some staff members of the new exchange, where some of the companies fleeing stricter new Vancouver rules ended up. Now they have teamed up with two other small exchanges and are known as the Canadian Venture Exchange, or CDNX. "Nothing has changed," du Plessis said. "It's all the same crap. ... In a way, the Vancouver Stock Exchange today has done what most of its scam companies have done when they get discredited. It's changed its name and is portraying itself as a new being." Bill Hess, president of the CDNX, has characterized it as "a safe place to make risky investments." Investments in small, emerging companies like those found on the CDNX -- which include about 2,600 junior companies in mining, the Internet, finance, energy and other endeavors -- are inherently a dicey affair, CDNX officials say. "A lot of people say they got fleeced, but really, they lost on a risky investment," said Angela Huxham, vice president of market regulation for the CDNX. "There's a difference between a risky investment and a stock fraud." CDNX officials say they watch carefully to make sure companies are not inappropriately hyping themselves. If they discover a serious case of over-promotion, exchange officials say, they can present the offending company with a choice: Fire the person involved, or be kicked off the exchange. Only a handful of firms have been involuntarily delisted for any reason since the CDNX was formed in 1999, records show. Officials of the exchange would not say how many people they have forced to resign. Exchange officials say they also can refer cases to Canada's province-level equivalent of the U.S. Securities and Exchange Commission, but won't disclose how often this happens. "We have been able to create the best-regulated junior market that we know of anywhere," Huxham said. "We have a whole new beginning here. ... People should never think there are not any abuses. (But) I think we have a pretty good track record with our companies." Defenders of the mining industry acknowledge that juniors can be get-rich-quick ventures that attract people who lose everything. Jack McOuat, a principal in the Toronto consulting geological firm Watts, Griffis & McOuat Ltd., recalls an aunt of his who bought junior mining stocks rather than gamble on the lottery or the horse races. "The problem with the horse race is it's over in two minutes, whereas a junior mining stock, you can read about it every day in the paper," he said. McOuat and others trace the rise of Canada as the juniors' finance center to the establishment of the U.S. Securities and Exchange Commission in 1934. The SEC requires detailed financial reporting for publicly traded companies. In Canada, each province has its own regulatory apparatus, and critics say the B.C. and Alberta securities commissions are overwhelmed by the sheer volume of penny stocks they must regulate. Over the years, the Western United States has proved to be a fruitful place for Vancouver-financed juniors to prospect, because the General Mining Law of 1872 leaves vast tracts of public lands open for exploration. Victor Lazarovici, senior base-metals analyst for Nesbitt Burns, a major Canadian investment firm, acknowledged that junior companies, including mining firms, "tend to attract people who make money watching stock go up rather than by providing products." "The get-rich-quick, high-risk/high-reward nature of hard-rock mining is what attracts that speculative mind-set," he said. Occasionally, one of these juniors hits it big. Take, for example, Barrick Gold Corp. The founder, a Hungarian war refugee who immigrated to Canada, first tried his hand at South Pacific hotels and a company that produced radios that looked nice enough to be furniture, according to a Barrick spokesman. When that didn't work out, Peter Munk got into the gold business. His team took an interest in a Nevada property that had been explored by a mom-and-pop company, invested $62 million in it and produced what became an astounding success, one that miners talk about in reverential tones. About 18.6 million ounces of gold has been mined there since, providing a cash flow in 2000 alone of $315 million. The company has been able to take over 1,945 acres of onetime federal land with a gold deposit worth billions for less than $10,000 because of the generous terms of the 1872 Mining Law. But Barrick's success stands in contrast to the hundreds of juniors that have come and gone -- and three that became environmental disasters: Colorado's Summitville mine, South Dakota's Brohm mine and Montana's Zortman-Landusky Mine. The successful juniors typically sell out to or partner with a major company to develop a mine. An example is the Crown Jewel mine proposed at Buckhorn Mountain in north-central Washington, which is a joint venture between a subsidiary of the giant Newmont Mining Corp. of Denver and a small Canadian firm, Crown Resources Corp. "The junior mining company plays a major and important role in the mining industry food chain," said Laura Skaer, director of the Spokane-based Northwest Mining Association. Her explanation for why so many are based in Canada? "The Canadian investor seems to be willing to take a greater risk-reward ... whereas Wall Street is more conservative." Alan Young of the Environmental Mining Council of British Columbia, an environmental group, puts it differently. "The Vancouver Stock Exchange is notorious the world over for the look-the-other-way approach of allowing venture capital to be raised for mining projects," he said. "The Vancouver Stock Exchange is to mining capital what Panama is to shipping -- it's a place where you can always get a flag." |
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troy says: The whole diamond industry is a scam. Diamonds are NOT rare. Yes, HUGE, flawless diamonds are rare, but those 1-2 carat diamonds are totally common and not worth anything near what you pay for them. The whole industry knows this, which is why 99% of diamond sellers refuse to buy diamonds from individuals at all, and those few who do will only give you a tiny fraction of what the diamond is "worth" during an appraisal. I'm a gemstone wholesaler of about 6 years now and for the most part you're right. I wouldn't say the WHOLE Diamond industry is a scam, but the DeBeers side definitely is. You're correct in that Diamonds are definitely not rare and have an artificially driven price. However regular dealers have nothing to do with that. To get any kind of buy on diamonds from DeBeers requires a MASSIVE initial purchase, and even that will not get you any greater than a 30% markup, and you'll take unsellable junk Diamonds to get those, even with the large scale purchase. That's pretty minimal profit in any business with overhead. The majority of Diamond/engagement ring dealers are using free displays from companies like stuller and then ordering in the rings as they're sold. 95% of the jewelers out there couldn't afford to stock Diamonds otherwise. As to dealers buying them at "a tiny fraction of what they're worth" that's called capitalism. Ever try and sell a gun to a gun store or pawn shop? They offer you "what it was worth"? How about comics, coins or a car? Ever been offered what ANYTHING is "worth"? Suprisingly I think you'd find most jewelers would be very happy if DeBeers didn't control the market. Life's a bitch when you only have one source to buy from, make's competitive selling VERY hard. Many dealers also deal in rarities, as do I. Pretty hard to get what a stone is worth when it's always measured against the "precious" stone scale. Some examples of gems that are FAR more rare than diamond, ruby or sapphire are: Large Neon Apatite Paraiba Tourmaline Non Diffused Padparadscha Sapphire Chrysoberyl Alexandrite AA grade Ammolite Tsavorite and Spessartite (green and orange) Garnet. Facet Grade Rhodochrosite I sell all of the above and more and get less than $70 a carat on 2/3 of them. The primary reason is due to companies like Tiffany's and DeBeers. The majority of "the whole diamond industry" you mentioned above would be just as glad to see DeBeers take a shit as you. |
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Isn't there a company in FL making gem quality dimonds. They have the patent for now but as soon as that hits the open market. you know that you can record info in crystals? I predict we'll have dimond drives in staed of CD or DVD drives in the not to distant furture. |
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There are 2 companys making synthetic diamonds that can't be detected from the real thing. The problem is jewlers already got to them. It was 300 bucks for a 3 carat(sp) yellow diamaond about a year ago, now it is around 7 grand. Still better than the real thing, but not near as good as it was supposed to be. Funny thing, someone posted here, and I asked around, Debeers does have the brain wash going. Only 1 out of 10 women I asked would take the synthetic over the real thing. The rest wouldn't bother with it because it wasn't "real". |
because women are about money, a ring is an insurance policy so if se ever leaves your ass she will have something of value |
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Well it could be a scam but its looking more and more like the real thing. MMs driving the price to the cellar and trying to naked short the company out of business. Now they have their balls in a vice and are running scared now that they may lose billions covering their short positions. High priced famous NY law firm could be helping company a) get reportable again or b) gather evidence or help solve illegal naked shorting of stock or c) Both! Many good reasons to become reporting again. Another theory is the company wants to go private again and needs an exact figure on outstanding share amount to offer stockholders a tender offer. Or, better yet, maybe Debeers wants to buy us out and needs to know how much to offer per share. Core sample results from April drilling on the Carolyn pipe were due back in mid May. I wonder why they are holding release of core sample results? I wonder why they NOW want to become a reporting company again? Well I don't think they would go to this trouble if they didn't find significant diamond deposits. If the company wasn't sitting on a butt load of diamonds, I don't think they would be jumping through these hoops to get off the Pink Sheets and onto the NASDAQ or OTC and become reporting again. Stock price showing impressive gains the last few days due to the release of the following P/Rs: CMKM Diamonds, Inc. Announces It Has Retained D. Roger Glenn, Partner at Edwards & Angell, LLP as Securities Counsel LAS VEGAS, Jun 4, 2004 (BUSINESS WIRE) -- CMKM Diamonds, Inc., (Pink Sheets:CMKX) president and chairman of the Board of Directors, Urban Casavant, announces that the Law Firm of Edwards & Angell has been retained to represent the Company in its desire to become fully reporting once again. Lead counsel for CMKM Diamonds, Inc., D. Roger Glenn, is a partner at the firm and has over 20 years of extensive experience in working with public companies. Mr. Glenn's professional bio can be reviewed at the law firm's website, http://www.edwardsangell.com/script.php?print=yes&page=attorneys& AttorneyID=39. (Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field. You may also need to remove an extra space in the URL if one exists.) Urban Casavant stated in Las Vegas today that, "hiring Edwards & Angell, LLP, and specifically Mr. Glenn, is the best thing that we could have done for the company and the shareholders. The fact that Mr. Glenn began his illustrious career with the Securities and Exchange Commission is a further feather in the company's hat. We would like to thank all of our shareholders for their patience as we have moved towards this moment and as we move forward from here as a team." Further developments and other information on the company may be viewed at our website, http://www.casavantmining.com. CMKM Diamonds, Inc. Announces the Cancellation of the MRDR Transaction, Internal Audit and Move to New Transfer Agent LAS VEGAS, Jun 3, 2004 (BUSINESS WIRE) -- CMKM Diamonds, Inc. (Pink Sheets:CMKX), The Board of Directors announces that due to the encouraging results in Saskatchewan, the Company has decided to concentrate all its resources on diamond drilling at this time, and therefore has aborted the pending Mirador (MRDR) previously proposed project. Further the Board has notified the present Transfer Agent, 1st Global Stock Transfer to do a full and complete audit of the company and/or will have an independent auditor audit the company and as soon as that audit is complete the Company has retained Pacific Stock Transfer, Inc., to become the new Transfer Agent for CMKM Diamonds, Inc. As for Debeers, CMKX now owns some of their previous claims. Flooding the diamond market is no more in CMKXs interest as it is in Debeers interest. I can just assume that they will learn to coexist the same way Debeers has learned to coexist with the mines in Russia and Austrailia. Debeers may even want to maintain control of the market by offering CMKX stockholders a tender offer per share and buy them out. I have 5 million shares. I would cry all the way to the bank if Debeers offered, and the CMKX stockholders approved, a $15 per share buyout. Go long! |
Actually, they can be told from a genuine Diamond. You're refering to Moissanite, which I believe was originally offered by Charles & Colvard. It is a synthetic diamond which is forced into crystals in a lab, or "lab grown". When the gem initially hit the market it was indistinguishable from real diamond, now even cheap electric diamond testers are wise to it. The synthetic is made from material carried here by a meteor, and has a SIMILAR composition to Diamond. I believe it's a 9.6 on the MOHs scale as opposed to a ten. The meteor material, for those of you who've traveled through AZ. comes from that little roadside attraction known as "meteor crater". As to a 3 carat "fake" yellow diamond being worth 7 grand, I sincerely doubt it. I couldn't get that for a genuine yellow Diamond of that size. Yellow is the least desirable color of Diamond next to brown, on the market. Moissanite is also highly overpriced, nearly as high as natural stone. If your woman wants a Diamond ring and you think it's a scam, it's your job to make a connoisseur of her. Let her know that your relationship is unique and that as such you'd be inclined to get her a REAL gemstone rarity that more aptly reflects the uniquity of your relationship. There's alot of really nice stuff out there that's suitable for a non traditional engagement ring. Not that long ago I did a 4 carat sapphire ring for a member of glocktalk. She had no qualms with it "not being Diamond." She also saved several thousand dollars and got something that "all the girls were envious of." |
Is this the same thing you are talking about? This sounds like a newer breakthrough. tony www.wired.com/wired/archive/11.09/diamond.html I don't know why the pics are over the text. You can copy to Word though. |