Hi Tweety,
I know you are not a "sucker", nor any shareholder here. I know this is not a scam in a way that the properties are not real, the evidence debunks a myth of such. One debunking arises when Dynacor, A MILL WHICH PROCESSED GOLD ORE FOR SLI, is accused of tax evasion by the Peruvian Government. The amount of accused taxes exceeds $10 million. What Dynacor then does, is sells its Acari property to one of THEIR OWN DIRECTORS for $1 to seperate this amount owing, plus fines from Dynacors balance sheet. The interesting thing is, where did all the gold come from and why has no action been taken by Canadian authorities on these questionable acts?
20. Disposal of an investment in a subsidiary
In December 2012, the Company disposed, of 100% of the shares of its former subsidiary Minera Dynacor del Peru SAC
“Minera” in favor of a non-related third party private Company for an amount of one dollar and recorded a loss on disposal of
$ 93,127. At the date of disposal Minera net asset was comprised of the Acary, Pallarniyocc 1 property which had a net book
value of nil and net current assets: $ 93,128. There were no cash and cash equivalents included in the net current assets.
Minera was, facing claims from the Peruvian tax authorities for the fiscal years 2003 to April 2009, in the amount of to
$44.3M (115.2M Nuevo soles) including $10.2M (26.6M Nuevo soles) for income and sales taxes and $34.1M (88.6M Nuevo
soles) in interest and penalties which had been vigorously contested in front of the Peruvian judicial court over the last two
years. There was no change in the status of this claim at the date of the disposal.
All the assets and the liabilities including the contingent liabilities pertaining to the above tax claims were transferred to the
buyer. The Company has no responsibility or obligations whatsoever with respect to its former subsidiary.
