Thursday, January 7, 2010

Mo' Ventana (VEN.to): My stars! They finally beginning to notice?


Way back in IKN31 we ran a whole thing on Ventana Gold (VEN.to) and its obvious problem at La Bodega with Los Gelvez. We even extracted the longer note in this blog post dated December 2nd that said:

Here follows an excerpt from the June 14 2008 Technical Report on the La Bodega property:

Surface rights within the property are held by various landowners. The company reports that it has signed exploration access easements with all the surface owners where drilling has been undertaken or planned to be conducted. Additional surface rights may be required to establish a commercial mining operation.

It’s a sure fire certainty that SMLB and/or Gelvez are the major names inside those “various landowners”. What we have here is a serious weakness, a chink in the armour of VEN and its position. VEN might be able to close on the option and secure that very impressive mineralization, but the topsoil (if you like) isn’t included in the deal, and if you’re prohibited from setting foot on the land, it becomes impossible to build a mine and dig the depths. Again, if you want to you can say it’s the leverage point with which SMLB is illegally and immorally blackmailing the poor, hard done by Ventana Gold. It’s just semantics anyway and makes no difference to the facts of the matter.


So today we get a NR from VEN.to that announces the company has secured mineral rights at its property in several place....except (surprise surprise) La Bodega. Here's an excerpt:
"Ventana has two remaining option agreements to complete. The first is for the La Bodega property, which is being disputed by the land owners (see news release dated November 27, 2009, available on the Company's website at www.ventanagold.com). The dispute is an attempt by the land owners to continues here

Oh look....did that say "land owners"? Beginning to see the problem, or do I still need to take a few more crazy pills?