March 21, 2007
Peter Dieter, Nass Valley Gateway Ltd. CEO & Gitxat'in MHIND World Link Inc Director & Mineral Hills Industries Ltd. ManagerMel Stevens, Nass Valley Gateway Ltd. President & Gitxat'in MHIND World Link Inc Director & Gitxat'in Development Corporation Director & Laxgalt'sap Village Government Employee & President of Gitxat'in Housing Society & Laxgalts'ap Forest Company Ltd. Manager
Patrick Stewart, Nass Valley Gateway Ltd. Director Hugh Maddin, Nass Valley Gateway Ltd., DirectorEdward Skoda, Director Nass Valley Gateway Ltd., Board of Director Cerro Minerales SA de CV Director (Mineral Hill Ltd. Subsidiary)
Dear Sirs:
RE: Nass Valley Gateway Ltd.
Before you start waving the signatures of our RESPECTED ELDERS for "show and tell" that they basically agreed with everything because you gave them some shares - CAN YOU PLEASE ADDRESS THE FOLLOWING!!!!! I will definitely read your Prince Rupert meeting minutes.
I wonder if our elders that were made shareholders, living or deceased, wondering as I am???????? Why did Nass Valley Gateway Ltd have no problem suddenly issuing 1,500 shares to each elder, after the fact, and with no shareholders meeting - were they told that they have to get a stockbroker and pay commission to sell them as well as paying taxes on capital gains? Why were they not also given shares in the non-reporting Gitxatin Mhind World Link Inc? Is it possible that Nass Valley Gateway Ltd. Is nothing but a work horse in this deal? After 2 years Nass Valley Gateway Ltd. (NVGL) has the option to own 75% of Nass Bay mineral claim after they pay Gitxatin Mhind World Link Inc (which owns Nass Bay mineral claim) $300,000 and give Gitxat'in MHIND World Link Inc 2,250,000 Nass Valley Gateway Ltd shares and have spent on work in the Nass Bay $500,000 in 3 years - As per attachment. Because Gitxat'in MHIND World Link Inc and Nass Valley Gateway Ltd. have the same board of directors my perception is that in after 2 years March 10, 2008 it is established that enough minerals is present to start production, Nass Valley Gateway Ltd will simply stop any further work on site and Gitxat'in MHIND World Link Inc simply buys back the 40% that Nass Valley Gateway LTD accumulated in the 75% option of property by giving Gitxat'in MHIND World Link Inc $175,000 in 2 years time plus 1,350,000 shares of Nass Valley Gateway LTD (which most likely will be sold before the stopping of work) and spending $300,000 on working the claim. For example, Nass Valley Gateway LTD spend 1,000,000 on work (which is all the money they get by selling stocks to investors from their 40% - 7,250,000 stocks Gitxat'in Development Corporation and Mineral Hill Industries Ltd). In two years the Gitxat'in MHIND World Link Inc will pay Nass Valley Gateway LTD $1,500,000 and Gitxat'in MHIND World Link Inc now owns 100% of Nass Bay mineral rights which if production starts, profits are divided 50 50 between Mineral Hill Industries LTD and Gitxat'in Development Corporation as they own Gitxat'in MHIND World Link Inc. This can result in the shareholders of 18,100,000 Nass Valley Gateway LTD will have to share $1,500,000 which results in each share (if you hold on to yours) is going to be worth 8 cents - may be even less. The way I see it is that the only benefactors, if production is to start, is going to be owners of shares in Gitxat'in MHIND World Link Inc. So tell me - Why didn't the elders get any shares in Gitxat'in MHIND World Link Inc? Why didn't Mineral Hill Industries LTD and Gitxat'in Development Corporation (50/50 partners in Nass Valley Gateway Ltd) each give the elders 750 shares or make the elders partners at the same percentage as the elders have been given of the Nass Valley Gateway Ltd shares. Nisga'a citizens owned Nass Bay 100% prior to this deal - after no consultation or Nisga'a nation consent, Gitxat'in MHIND World Link Inc (owners Gitxat'in Development Corporation and Mineral Hill Industries Ltd) will not give our RESPECTED ELDERS shares in their companies that are actually going to be making profits if production is going to start. Even if Nass Valley Gateway Ltd is still in operation in 5 years - Gitxat'in MHIND World Link Inc would still own 25% of Nass Bay mineral rights proceeds after the buy back option date - Why didn't the elders get Gitxat'in MHIND World Link Inc shares?
At least you could have added some beads!!!!!
Barb Zvatora ATTACH 1: Deferred Exploration Costs (Buy Back Option)
Posted by blog2/nisgga
at 6:23 AM
Updated: Tuesday, 24 July 2007 6:50 AM
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Updated: Tuesday, 24 July 2007 6:50 AM
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