My routine has faded away, I guess. But now I'm focused on DT's phone calls on Thursday, Friday & today.
Thursday: I received a text from DT asking if I could talk then, but I didn't see the text for about an nour.
When DT texts (quite rare), I sense that there's something important going on. At the time I was in Pomona at Hamilton Board & Care, where I had times I could talk, and other times when I could not.
So I texted back several times through the day, but DT did not respond. I went into my usual mode of "why is this happening this way??" and the like. I speculated that if DT sent the text and then did not follow up with me or answer my texts, then I could likely assume that it was NOT about the mine deal ("A")
"A" will be my shorthand designation for "ACONDA" which is what DT often calls the mine in Nevada.
So, I wondered if his friend back East had passed away, and he just wanted to let me know. I also wondered if it might be about his son Dan, who has a badly sprained ankle, along with marital & Church troubles right now. And I wondered if it could be just an effort to keep in touch.
All that proved wrong. But I didn't find out until Friday morning. DT called me and gave me a thumbnail summary of what is going on with A. His voice sounded quite happy as he introduced the latest developments with regard to A, Michael, Credit Suisse/First Boston, and the expected amounts of money involved, along with a rough timeline for the next 3 months.
DT mentioned that he and Michael and another person would be meeting today, and that he'd have more information at the end of the day.
(YAY!)
But, in spite of my best efforts to facilitate another phone call between me and DT, it didn't happen Friday night. :-( He texted that he was ambushed by unexpected visitors, and then was exhausted.
So we agreed to talk this morning, and we did. Here's what DT told me:
Michael owns interest in a gold mine in central Ontario (about 100 miles? North of Toronto), which I will call "K" (Klinor?). Michael is proposing that DT's mine (A) can become a similar venture to K.
Here's how K became what it is today:
1. CSFB: Credit Suisse is a large bank, and they also own First Boston, a brokerage house. As a trading platform, they require a customer's credit to be at least as large as the investment loan being considered.
2. CSFB has given the K mine a credit line of 88 million euros. They have done this because they know that the mine has approx. 100,000 ounces of gold in reserve, and this translates to approx $100,000,000 USD in credit.
3. CSFB official (someone named Wendy) has 100% approved this status; Michael & DT have seen the pages and pages of paperwork.
GAME CHANGER: Michael, with this new status, now has access to funds which can (and will) be used for A.
THE PLAN:
1. of the 88 MM euros, 50 MM euros is kept in reserve/high yield trading accounts at CSFB.
2. 38 MM euros (43 MM USD) can be withdrawn by Michael.
3. Michael will take $500K USD for
a. (______ unknown by me)
b. $150K to "Turn 2" (carbon bonds?) which is the entity that will fund DT & his partner. They will receive $150K, and $75 will go to DT.
c. $200K to do the A mine geological work (i. drilling holes for samples, and ii. fly overs which will detect the location of metal v. dirt) Michael expects this work to begin soon & take about 45 days. Then in another 30 days from then, CSFB wil approve A mine and give it the same status as K mine.
4. In addition, Michael's speculation is that A mine will yield 10 TIMES the amount of the K mine.
5. Expectations are that the A mine will become part of a joint venture with other mines; the partners will be DT & Byron, and Michael and John.
6. A mine will yield a "Ton of money" in the next 3-4 months.
(gasp. catching my breath.)
So, DT asked rhetorically, "IS THIS ALL REAL?"
YES. Why?
1. DT has seen the paperwork.
2. Michael is a PLAYER, not a spectator.
3. Michael's partner (in the Friday meeting) is David _______, a SLC lawyer, who has duly impressed DT as a "good guy."
I asked DT what he might guess as a time frame for me to become involved both in a financial way, and in a time commitment way.
"90 DAYS - or sooner" was his reply.
He said that he would be getting money ($75K) next week, and could then loan me money if needed.
DT introduced the idea of researching "Coalition Foundation" approach to humanitarian activities. Eg., Bill and Melinda Gates Foundation has a "reserve" of $50 BB which they do not touch, but the interest from the reserve is used for humanitarian projects. Usually such a Foundation has a minimum of $100 MM. The term "Evergreen Trading Program" is used. There would be an administrative agreement in place that would govern the money distribution, support, etc. (DT used the term "10-x" in some way).
Sooooo.......... after 5 years (for me) of dreaming....... this time there is HARD EVIDENCE that the dream is about to move forward.
I hope so.