The Green Baron Report
July 27, 2004
Stock to Watch Update
CMKM Diamonds, Inc. (CMKX)
CMKM Diamonds is rapidly becoming the stock play we had originally envisioned – The Stock Play of a Lifetime. Based on press releases announced on Monday, July 26 and Tuesday, July 27, The Green Baron Report is telling our members once again to seriously watch this stock right now. The only thing keeping us from fully profiling CMKX on our home page is the fact that the company still has not released its total issued and outstanding share count. However, we anticipate this number will be released within weeks.
Since we began coverage on July 13, 2004 , CMKX stock price has only moved slightly higher from an offer price of .0003 to .0005 despite news regarding the distribution of stock dividends, an investment in more prospective mining property, and the receipt of cash from US Canadian Minerals (UCAD). CMKX stock continues to be one of the most heavily traded stocks on Wall Street, and appears to be held down each day over the past several weeks by the market maker JEFF as he seems ever present on the offer. Please note that JEFF went to the bid side mid-day on Tuesday July 27 at .0004, and may finally indicate a change in his positioning going forward.
Last week The Green Baron Report forwarded a list of about 15 questions to be asked for an upcoming Green Baron webcast interview with CEO Urban Casavant. Although Urban expressed strong interest in conducting the webcast now, attorneys on his behalf have asked him to delay the interview until after the company becomes fully reporting. We will alert our members when we secure a firm date for the interview and its release.
On Monday July 25, CMKM Diamonds announced it had acquired a 60% undivided interest in 500,000 acres of potential Kimberlite mineral property in Saskatchewan , Canada from Nevada Minerals. CMKX now has an interest in nearly 2 million acres of land in mineral rich areas of Canada .
On Tuesday, July 26, CMKM Diamonds received its first $3,000,000 from U.S. Canadian Minerals Inc. as the first exercise of a purchase option agreed to last week between the parties. The Green Baron Report views this announcement as extremely positive for two reasons: one, this confirms that CMKX has cash on hand and should not be in any need of selling shares to raise money as has been suggested by nay-sayers; and two, UCAD’s speedy option exercise seems to clearly indicate that CMKX is sitting on very valuable property.
One final note: As announced on July 18, 2004 , shareholders of record August 20, 2004 will receive a stock dividend of US Canadian Minerals (UCAD). Although we are still awaiting more specific details concerning this dividend, UCAD stock has rallied in recent weeks from about $3.00 per share to as high as $7.35. Regardless of how many shares of UCAD that CMKX shareholders will receive, it appears that investors in UCAD view recent developments very positively.
May God Bless All.
