A rolling stonemutt gathers no moss …

Anybody wondering what the gruesome twosome have actually done with the proceeds and what they are up to these days need look no further than the latest promo for dopos … Cap-Ex Ventures. CEV.v

http://neer-do-well-hall-of-infamey.blogspot.com/

Earnesto Echevarria-Salazar

Focus on strategic alternatives …

Its been a horrific ride for mightily fleeced public types but Burnakura is an ATW Gold memory now and that is irrespective of the many, many millions of dollars that have gone up in smoke.

ATW Gold sells Burnakura gold property to Jinka
2010-06-10 09:18 ET – News Release
Mr. Brent Butler reports

ATW COMPLETES SALE OF BURNAKURA ASSETS FOR AUD$5,000,000

ATW Gold Corp. has completed the sale of its Burnakura gold project to Jinka Minerals Ltd., an Australian company.

A total of $5-million (Australian) was paid for the Burnakura project: a closing payment of $4,253,000 (Australian) (of which a $212,650 (Australian) deposit has already been received) and a payment by Jinka of $747,000 (Australian) to the Department of Mines in Western Australia, which payment will result in the return of $747,000 (Australian) of environmental bond funds to ATW’s Australian subsidiary.

The required Australian regulatory approvals have been received.

Concurrent with closing the sale of its Burnakura project, the company also settled its outstanding liability of $2-million (Australian) with RUC Cementation Mining Contractors Pty. Ltd. (formerly RUC Mining Contractors Pty. Ltd.). The settlement was first disclosed in Stockwatch on April 12, 2010.

Under the terms of the settlement, the company paid RUC a total of $1.5-million (Australian) andd issued to RUC a total of two million common shares at a deemed price of 25 Australian cents per share. The shares were issued on June 1, 2010, and are subject to a four-month hold period under the policies of the TSX Venture Exchange.

The terms of the settlement also called for the parties to execute full and final mutual releases. The releases have been signed.

The sale of the Burnakura project has allowed the company to retire all current liabilities relating to Burnakura with excess financing to be applied toward working capital. The company continues to consider all options as they relate to its Gullewa copper-gold project.

Brent Butler, chief executive officer and president, commented: “The sale of Burnakura will allow ATW to focus on strategic alternatives as they relate to Gullewa. Given the continued strength in the underlying commodity prices, ATW is considering all alternatives, including advancing the project ourselves, the sale, spinout or joint venture of the company’s Gullewa copper-gold project.”

May 31/10 May 03/10 Harris, Graham Common Shares 10 – Disposition -100,000 $0.130
May 17/10 May 12/10 Bowering, Andrew William Common Shares 10 – Disposition -121,000 $0.110
May 17/10 May 13/10 Bowering, Andrew William Common Shares 10 – Disposition -79,000 $0.106
May 03/10 Apr 26/10 Harris, Graham Common Shares 10 – Disposition -50,000 $0.140
May 03/10 Apr 26/10 Harris, Graham Common Shares 10 – Disposition -34,000 $0.140
May 03/10 Apr 26/10 Harris, Graham Common Shares 10 – Disposition -16,000 $0.145
Apr 19/10 Apr 12/10 Bowering, Andrew William Common Shares 10 – Disposition -197,500 $0.140
Apr 19/10 Apr 12/10 Bowering, Andrew William Common Shares 10 – Disposition -9,000 $0.140
Apr 19/10 Apr 13/10 Bowering, Andrew William Common Shares 10 – Disposition -13,500 $0.140
Apr 19/10 Apr 07/10 Bowering, Andrew William Common Shares 10 – Disposition -114,000 $0.146

$ 1.5 million US owing on Burnakura

There simply aren’t any suitable adjectives left, nor nouns either, after the latest ATW Gold annoucement. Stakeholders may have been overjoyed to hear that Jinka Resources somehow managed to come up with a $ 212,000 deposit but brutalization on buttock quickly followed with news that yet another $ 1.5 million US was due and payable along with, who bloody cares at this point anyways, 2 million more shares from treasury.

Promises of massive proceeds towards working capital mere days ago have petered out somewhere. A mystery almost as deep and wide as what this public Company supposably “does”.

__________________________________________________________________

ATW Gold receives deposit for Burnakura sale

2010-04-12 15:48 ET – News Release

Mr. Brent Butler reports

ATW RECEIVES NON-REFUNDABLE DEPOSIT FOR SALE OF BURANKURA

ATW Gold Corp., further to its news release in Stockwatch of April 1, 2010, has received the non-refundable deposit of $212,650 (Australian) from Jinka Minerals Ltd. as per the letter of intent (LOI) for the sale consideration of $4,253,000 (Australian) for the acquisition of the Burnakura mine project.

The company has entered into a shares-for-debt settlement with RUC Mining Contractors Pty. Ltd. The company, prior to the settlement, owed RUC a total of $2-million (Australian), which was due to be paid on June 30, 2010. The debt was incurred by the company’s Australian subsidiary in connection with RUC’s maintenance services contract for the Burnakura mine project and the mill associated with it. Under the terms of the settlement, the company is to pay RUC a total of $1.5-million (Australian) and issue to RUC a total of two million common shares at a deemed price of 25 Australian cents per share. The payment of $1.5-million (U.S.) and the issuance of the two million common shares are due to occur upon the company selling its Burnakura mine project.

The settlement is subject to the approval of the TSX Venture Exchange.

The LOI and the sale of the Burnakura project therein is conditional upon receipt of any required Australian regulatory approval, the receipt by the company of any required Canadian approvals (including the approval of the TSX Venture Exchange, if required), Jinka completing due diligence to its satisfaction, the company and Jinka agreeing to the list of plant and equipment included in the sale, and the execution of a definitive agreement on or before May 31, 2010.

Twisted Sisters Selling – The Beat Goes On

According to http://sedi.ca as at April 21 Mr. Harris has 966,400 shares remaining and Mr. Bowring has 1,058,158

Apr 19/10  Apr 13/10  Bowering, Andrew William  – Disposition   -13,500  $0.140
Apr 19/10  Apr 12/10  Bowering, Andrew William  – Disposition  -197,500  $0.140
Apr 19/10  Apr 12/10  Bowering, Andrew William  – Disposition -9,000  $0.140
Apr 15/10  Apr 12/10  Harris, Graham  Disposition  -50,000  $0.140
Apr 15/10  Apr 09/10  Harris, Graham  Disposition  -194,500  $0.140
Apr 19/10  Apr 09/10  Bowering, Andrew William  – Disposition    -30,000  $0.145
Apr 19/10  Apr 07/10  Bowering, Andrew William  – Disposition  -114,000  $0.146
Apr 15/10  Apr 07/10  Harris, Graham  Disposition  -5,500  $0.150 
Apr 07/10 Apr 06/10 Bowering, Andrew William Disposition -26,500 $0.160
Apr 07/10 Apr 05/10 Bowering, Andrew William Disposition -9,500 $0.160
Apr 15/10  Apr 05/10  Harris, Graham  Disposition -300,000  $0.160
Apr 15/10  Apr 05/10  Harris, Graham  Disposition -50,000  $0.155
Apr 15/10  Apr 01/10  Harris, Graham  Disposition -100,000  $0.160
Apr 07/10 Apr 01/10 Bowering, Andrew William Disposition -100,000 $0.160

Massive infusion of insider bullishness on ATW prospects lasts just long enough to book a near two bagger and the Hairless Arsering team continue whacking innocent bids without concern to when … even if its the day of a news release.  Boyz are content with the returns from their recently acquired $ .085 ex-creditor Red Kite paper.   This is in stark contrast to the returns being experienced by Earnesto Echavarria, who has seen his $ 8.5 million investment reduced to something less than $ 2.0 million, assuming he could find a buyer/sucker that is.

Just when you think it can’t possibly get any more insulting or audacious, and the grotesque indictments against a regulator that doesn’t seem interested in enforcing the rules can’t get any worse, and the VSE detritus pulls another dirty rabbit out of the bag. Its become a sickening circus sideshow with a conclusion that isn’t in doubt.

Value Creation the ATW Gold Way

April 1, 2010 – ATW 0.16 -0.015 – 669,575

The long awaited and long delayed ATW value enhancement strategy has hit the fan with prejudicial gusto and fittingly enough on April Fools’ Day.

The market was not impressed by the gruesome twosome’s efforts at value creation with the paper closing at $ .16. Begging the question why the public would buy this equity at any level, stakeholders have witnessed many millions evaporate in the name of Burnakura and this at exactly the same time management was spewing about producing 3,500 ozs gold per month from the property.
_______________________________________________________________

2010-04-01 09:25 ET – News Release

ATW SIGNS LOI FOR SALE OF BURNAKURA ASSETS

ATW Gold Corp. has entered into a letter of intent with Jinka Minerals Ltd., an Australian company, to sell its Burnakura gold project to Jinka.

The sale consideration for the acquisition of the Burnakura Project is $4,253,000 (Australian), payable in full at completion. The LOI calls for Jinka to acquire a 100-per-cent interest in the Burnakura project upon closing of the sale and further calls for Jinka, within seven days of signing the LOI, to pay a non-refundable deposit of $212,650 (Australian) to the company.

more on Jinka Minerals … HERE

The LOI and the sale of the Burnakura project therein are conditional upon receipt of any required Australian regulatory approval, the receipt by the company of any required Canadian approvals (including the approval of the TSX Venture Exchange, if required), Jinka completing due diligence to its satisfaction, the company and Jinka agreeing to the list of plant and equipment included in the sale, and the execution of a definitive agreement on or before May 31, 2010.

It is anticipated that the sale price contained in the definitive agreement will allow the company to retire all current liabilities relating to Burnakura with excess finances to be applied toward working capital. The company continues to entertain all options as they relate to its Gullewa copper-gold project.

Brent Butler, chief executive officer and president, commented: “The sale of Burnakura will allow ATW to focus on strategic alternatives as they relate to Gullewa. Given the continued strength in the underlying commodity prices, ATW is considering all alternatives including the sale, spin-out or joint venture of the company’s Gullewa copper-gold project.”

The company further announces the resignation of David Stone,

former chief operating officer of the company’s Australian operations, as a director of the company in conjunction with its divestiture of Australian assets. Concurrently, Robert Schafer has resigned

from the company’s board of directors. The company thanks them both for their past contributions to its business affairs and wishes them well in their future endeavours.

Mar 22/10 Mar 16/10 Schafer, Robert – Disposition -33,000 $0.200
Mar 18/10 Mar 15/10 Schafer, Robert – Disposition -36,500 $0.200

Dead Cat Bouncing – $ .175

Dead Cat Bouncing

Many millions of shares “changing hands” the past few days with gruesome twosome somehow nailing the rock bottom absolute low.

The dopey VSE question remains … what happened to the “value enhancement strategy” and what are the gruesome twosome gonna pull outta their audacious arses for an encore? Whatever gets tried next one can count on two sickening constants. Its going to cost existing equity and enrich management.

5.4 million traded – last at $ .085

2010-03-11 15:59:57  0.085  -0.035  772,000  33 Canaccord  1 Anonymous 2010-03-11 15:59:57  0.085  -0.035  2,000,000  33 Canaccord  1 Anonymous 2010-03-11 15:59:57  0.085  -0.035  20,000  33 Canaccord  1 Anonymous 2010-03-11 15:59:57  0.085  -0.035  5,000  36 Latimer  1 Anonymous 2010-03-11 15:59:57  0.09  -0.03  2,000  1 Anonymous  1 Anonymous 2010-03-11 15:59:57  0.09  -0.03  100,000  68 Leede  1 Anonymous  2010-03-11 15:59:57  0.09  -0.03  25,000  85 Scotia  1 Anonymous   2010-03-11 15:59:57  0.09  -0.03  5,000  7 TD Sec  1 Anonymous 2010-03-11 15:59:57  0.09  -0.03  7,000  1 Anonymous  1 Anonymous 2010-03-11 15:59:57  0.09  -0.03  64,000  7 TD Sec  1 Anonymous 2010-03-11 15:59:42  0.095  -0.025  100,000  7 TD Sec  1 Anonymous   2010-03-11 15:59:39  0.09  -0.03  6,000  7 TD Sec  9 BMO Nesbitt 2010-03-11 15:59:38  0.095  -0.025  100,000  68 Leede  1 Anonymous 2010-03-11 15:58:47  0.095  -0.025  100,000  7 TD Sec  1 Anonymous 2010-03-11 15:58:34  0.095  -0.025  100,000  7 TD Sec  1 Anonymous 2010-03-11 15:58:22  0.095  -0.025  1,000  1 Anonymous  1 Anonymous 2010-03-11 15:58:22  0.095  -0.025  13,000  7 TD Sec  1 Anonymous   2010-03-11 15:58:22  0.095  -0.025  25,000  85 Scotia  1 Anonymous 2010-03-11 15:58:22  0.095  -0.025  10,000  9 BMO Nesbitt  1 Anonymous   2010-03-11 15:58:22  0.095  -0.025  5,000  1 Anonymous  1 Anonymous

Mar 12/10	Mar 11/10	Harris, Graham	Direct Ownership	Common Shares	10 – Acquisition	1,000,000	$0.085
Mar 12/10	Mar 11/10	Bowering, Andrew William	Direct Ownership	Common Shares	10 – Acquisition	1,000,000	$0.085

Here are all the house positions for : ATW for 3/11/2010. House Positions   Total  5,464,895   510,739   0.09 5,464,895  510,739   0.09  0 0 Exch House Bought $Value Ave   Sold $Value Ave   Net $Net   33  Canaccord  2,812,000  239,420  0.09    0        2,812,000  -239,420    7  TD Sec  1,147,500  116,276  0.10    91,300  10,115  0.11    1,056,200  -106,161    85  Scotia  696,000  72,373  0.10    15,500  1,832  0.12    680,500  -70,541    68  Leede  200,000  18,500  0.09    0        200,000  -18,500    2  RBC  169,943  18,191  0.11    9,500  1,092  0.11    160,443  -17,099    9  BMO Nesbitt  102,500  10,654  0.10    31,000  3,214  0.10    71,500  -7,440    54  Global  60,000  6,000  0.10    0        60,000  -6,000    79  CIBC  53,500  5,870  0.11    5,500  552  0.10    48,000  -5,318    124  Questrade  24,152  2,751  0.11    0        24,152  -2,751    81  HSBC  10,000  1,100  0.11    0        10,000  -1,100    36  Latimer  10,000  925  0.09    0        10,000  -925    46  Macquarie  800  84  0.11    1,095  121  0.11    -295  37    99  Jitney  0        26,500  2,839  0.11    -26,500  2,839    14  ITG  0        65,000  7,290  0.11    -65,000  7,290    1  Anonymous  178,500  18,595  0.10    5,219,500  483,684  0.09    -5,041,000  465,089

 

 

 

 

 

More selling by Gruesome Twosome

As the unbelieving and incredulous world waits for the value enhancement strategy that is more than a month overdue, insiders are certainly not waiting for the results of anything as selling continues at 52 week lows.

Mar 05/10 Mar 02/10 Harris, Graham – Disposition -200,000 $0.145
Mar 01/10 Feb 25/10 Bowering, Andrew William – Disposition -38,000 $0.150
Mar 01/10 Feb 24/10 Bowering, Andrew William – Disposition -162,000 $0.150
Mar 01/10 Feb 17/10 Bowering, Andrew William – Disposition -192,500 $0.160
Feb 23/10 Feb 23/10 Harris, Graham – Disposition -161,667 $0.150
Feb 23/10 Feb 17/10 Harris, Graham – Disposition -3,000 $0.170
Feb 23/10 Feb 16/10 Harris, Graham – Disposition -36,000 $0.170
Feb 16/10 Feb 09/10 Bowering, Andrew William – Disposition -18,500 $0.165
Feb 16/10 Feb 09/10 Bowering, Andrew William – Disposition -152,500 $0.160
Feb 16/10 Feb 09/10 Bowering, Andrew William – Disposition -29,000 $0.160

According to Sedi as of March 8, 2010 …

Bowering has 657,000 shares left and 750,000 options.

Harris has 666,400 shares left, 900,000 options, and 37,500 warrants.

More Unreported Trades – Harris

Its a confusing mess of insider trades of biblical proportion, but, suffice to say the numbers do all the talking.

2009-02-20 2009-03-04 – Acquisition +100,000 0.7500 2,283,567
2009-03-09 2009-04-08 – Disposition -5,000 0.8000 2,278,567
2009-03-09 2009-04-08 – Disposition -10,000 0.8100 2,268,567
2009-03-09 2009-04-08 – Disposition -10,000 0.8100 2,258,567
2009-03-10 2009-04-08 – Disposition -10,000 0.7400 2,248,567
2009-03-10 2009-04-08 – Disposition -10,000 0.7400 2,238,567
2009-03-10 2009-04-08 – Disposition -10,000 0.7400 2,228,567
2009-03-10 2009-04-08 – Disposition -10,000 0.7500 2,218,567
2009-03-10 2009-04-08 – Disposition -10,000 0.7500 2,208,567
2009-03-10 2009-04-08 – Disposition -15,000 0.7500 2,193,567
2009-03-10 2009-04-08 – Disposition -10,000 0.7700 2,183,567
2009-03-18 2009-04-08 – Disposition -10,000 0.7400 2,173,567
2009-03-23 2009-08-20 – Disposition -10,000 0.7400 2,163,567
2009-04-09 2009-06-25 – Disposition -10,000 0.7100 2,153,567
2009-04-13 2009-06-25 – Disposition -10,000 0.7200 2,143,567
2009-04-14 2009-06-25 – Disposition -10,000 0.7100 2,133,567
2009-04-24 2009-06-25 – Disposition -10,000 0.7100 2,123,567
2009-06-09 2009-07-22 – Disposition -5,000 0.8100 2,118,567
2009-06-09 2009-07-22 – Disposition -1,500 0.8200 2,117,067
2009-06-09 2009-07-22 – Disposition -53,500 0.8000 2,063,567
2009-06-23 2009-07-22 – Disposition -40,000 0.7500 2,023,567
2009-07-09 2009-08-20 – Disposition -57,000 0.6300 1,966,567
2009-07-10 2009-08-20 – Disposition -25,000 0.6264 1,941,567
2009-07-22 2009-08-20 – Disposition -50,000 0.6200 1,891,567
2009-07-23 2009-08-20 – Disposition -25,000 0.6200 1,866,567
2009-08-04 2009-08-20 – Disposition -25,000 0.6500 1,841,567
2009-08-05 2009-08-20 – Disposition -25,000 0.6000 1,816,567
2009-08-06 2009-08-20 – Disposition -25,000 0.5900 1,791,567
2009-08-10 2009-08-20 – Disposition -25,000 0.5600 1,766,567
2009-08-27 2009-09-08 – Disposition -100,000 0.5400 1,666,567
2009-09-11 2010-02-11 – Disposition -21,000 0.5200 1,645,567
2009-09-11 2010-02-11 – Disposition -79,000 0.5100 1,566,567
2009-10-13 2010-02-11 – Disposition -100,000 0.2700 1,466,567
2009-11-02 2010-02-11 – Disposition -50,000 0.2100 1,416,567
2009-11-03 2010-02-11 – Disposition -19,000 0.2200 1,397,567
2009-11-09 2010-02-11 – Disposition -31,000 0.2200 1,366,567
2010-01-21 2010-02-11 – Disposition -55,500 0.2200 1,311,067
2010-01-22 2010-02-11 – Disposition -4,000 0.2200 1,307,067
2010-02-01 2010-02-11 – Disposition -40,000 0.1800 1,267,067
2010-02-02 2010-02-11 – Disposition -82,000 0.1800 1,185,067
2010-02-03 2010-02-11 – Disposition -13,000 0.1700 1,172,067
2010-02-04 2010-02-11 – Disposition -100,000 0.1650 1,072,067
2010-02-05 2010-02-11 – Disposition -5,000 0.1850 1,067,067

It appears Mr. Harris is doing his trading “anonymously” if his trades on January 21 are any indicator. (i.e. no brokerage house number) While there is nothing patently illegal or improper about this, its always a red flag when insiders feel compelled to do their sales “under the radar”.