Amarant Mining – också ett bluffbolag?

Del 8 av 10 i serien GKL och Amarant

Amarant Mining, systerbolag till Alluvia Mining, har precis som Alluvia Mining underlåtit att fullfölja köpekontrakt av gruvor och gruvrättigheter vid ett flertal tillfällen. Ett sådant fall är Global Gold Corp. Global Gold är den verkliga ägaren av gruvan Valdivia som Alluvia Mining på sin hemsida uppger sig äga. Men verkligheten är en annan då Amarant och Alluvia faktisk inte betalt Global Gold och därför förlorat ägandet till Valdivia som istället drivs av Minera Global Chile Ltda, ett dotterbolag till Global Gold:

As of June 30, 2012 and December 31, 2011, the Company was owed $3,250,000 and $4,000,000, respectively, from Amarant from the sale of 100% of the Company’s interest in the GGV, which held the Pureo mining assets in Chile, and 100% interest in its wholly owned subsidiaries Global Oro LLC and Global Plata LLC which are each 50% owners of Minera Global Chile Limitada, all as part of the amended agreement closed on December 2, 2011. The Company did not receive the $1,000,000 due on December 15, 2011, and has only received $850,000 of that payment as of August 17, 2012. From April 1, 2012 through June 30, 2012, the Company was promised $150,000 from Amarant and its principal, Mr. Johan Ulander, of additional compensation in exchange for concessions given to Amarant and its principal, Mr. Johan Ulander, as more fully described below. The Company wrote down the remaining $3,250,000 and $3,950,000 as of June 30, 2012 and December 31, 2011, respectively, as impairment as Amarant has yet to pay. Amarant has reportedly assigned its interest to Alluvia Mining Limited, a public limited liability company incorporated under the laws of Jersey (“Alluvia”), an assignment which the Company conditionally consented as of June 15, 2012, but as of June 30, 2012, the conditions have not been met by any of Amarant or Mr. Ulander.

Alluvia ska enligt Amarant ha övertagit Amarants intressen i gruvan. Det är därför gruvan tas upp på Alluvias hemsida. Men bolaget äger inte gruvan vilket framgår av information från Global Gold Corp. Bakgrunden till affären och trasslet med att få pengar beskrivs också på samma sajt som jag citerat ovan. Alluvia, Amarant och Ulander har alltså inte betalt för gruvan i Chile och äger den följaktligen inte. Detta trots att man kom överens om följande i april 2012:

On April 13, 2012, the Company entered into an ”Amended Joint Membership Interest Purchase Agreement” with Amarant to amend the parties’ December 2, 2011 ”Joint Membership Interest Purchase Agreement” as follows: the 1 million dollar payment from Amarant due the Company on December 15, 2011 shall be paid by April 20, 2012; the three ”Additional Payments” of 1 million dollars due on each of December 15, 2012, December 15, 2013, and December 15, 2014 shall all be paid in a lump sum of three million dollars prior to May 31, 2012, as further described in Exhibit 10.49. On April 13, 2012, the Company also received a guaranty from Contender Kapital AB of Stockholm Sweden (“Contender”) that if Amarant fails to make the 1 million dollar payment to the Company on or before Friday April 20, 2012, Contender will satisfy the 1 million dollar payment, as further described in Exhibit 10.50. Contender defaulted on its guaranty.

On May 10, 2012, the Company and Amarant agreed that the Company would forego legal actions in exchange for payment by Amarant of the $800,000 balance due plus a $50,000 additional compensation payment by May 11, 2012 and the shortening of the grace period for late payment of the $3 million dollar payment due from Amarant to the Company from 60 days to 10 days after May 31, 2012. On May 9, 2012, Contender acknowledged that it had received notice of its obligation to pay on a valid guaranty of $1 million, and reaffirmed its guaranty. On May 18, 2012, Amarant and its principal, Mr. Ulander, agreed to pay Global an additional $50,000 payment (in addition to the previously agreed $50,000 additional payment) in exchange for foregoing legal action. On June 15, 2012, the Company conditionally agreed to a revised schedule of debt repayment through August 30, 2012.

The revised schedule provides the Company to receive 20% of net proceeds of funds raised by Alluvia or Amarant or their affiliates with a ceiling of $3,250,000 (which includes additional compensation) from any source. Also, the Company agreed to waive its right of first refusal with respect to transfer of GGV shares as part of this revision. As a condition of the amended sale closed on December 2, 2011, the Company was to receive certain shares or ownership of Amarant, amounting to 533,856 shares of Amarant.

These shares were received in July 2012. No value has been recorded for these shares for the following reasons; a) there is no active trading market to value these shares, b) Amarant is a private company, c) we do not have access to the financials of Amarant to aid in calculating a value, and d) these shares received present a small minority ownership of Amarant. Amarant and Alluvia remain in default of certain provisions of this sale agreement with Amarant.

Contender Kapital AB heter idag Intacta Kapital AB och har helt andra ägare än GKL-gruppens ägare som bolaget tillhörde när ovanstående ägde rum. Contender Kapital AB tycks på den tiden, i likhet med Amarant och Alluvia, ha satt i system att låna pengar och investera andras pengar men aldrig betala tillbaks eller ut nånting.

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