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SIRG Sierra Resource Group, Inc.
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MrChipper Offline
MrChipper
18.08.2011 (279 Days Ago)
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TitleSIRG Sierra Resource Group, Inc.
CountryUnited States
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Sierra Resource Group   

County: Mohave         Elevation: 3,599 feet     Latitude: 35.3622168   Longitude: -114.1924556

There are 284 mines in Mohave County, Arizona

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Sierra Resource Group, Inc. is a development-stage mining company engaged in the discovery and development of gold, silver, copper and other mineral resources. In January 2010, the Company focused on locating and evaluating copper producing properties for acquisition or joint venture agreements. On April 23, 2010, the Company entered into an Asset Purchase Agreement (the Purchase Agreement) with Medina Property Group LLC (Medina).

Pursuant to the Purchase Agreement, and upon the terms and subject to the conditions thereof, it agreed to purchase 80% of certain assets of Medina, known as the Chloride Copper Project, a former copper producer comprised of a mineral deposit and some infrastructure located near Kingston, Arizona (the Copper Mine). The Acquisition closed on June 21, 2010. The Chloride Copper Mine property consists of 37 unpatented lode mining claims and 12 mill site claims and it is located 24 kilometers northwest of Kingman, in the Wallapai District, Mohave County, Arizona.

Medina Property Group, LLC offers copper mining services. The company was incorporated in 2010 and is based in Weston, Florida. As of June 21, 2010, Medina Property Group, LLC operates as a subsidiary of Sierra Resource Group, Inc. Managing members are Patrick Champney, Jorge Medina and Silverberg & Weiss, P.A.

Sierra plans to use open pit mining and plans to reopen the existing SX/EW plant on site at the Copper Chloride Mine, with a maximum annual capacity of up to 5,400,000 pounds of Copper Cathode. The SX/EW process is environmentally friendly, cost effective and a quick production process according to an article published by the Copper Development Association in August 2001.
 
http://www.sierraresgroup.com/
 
 
 
 
 
Why Copper?
 Transmission 
     New transmission lines for renewable energy will require millions of pounds of copper.
 Hybrid Cars 
     Hybrid cars use twice the copper of their traditional counterparts.
 Copper pipes 
     Copper pipes for construction remain the most energy efficient option.
 Wind Power 
     A single wind energy turbine contains more than 1 ton of copper.
 High-Tech 
     New technologies and their copper wiring can play a key role in Arizona's future economy.
 Solar Panels 
     New low-cost photovoltaics rely on copper.

Kingman, AZ. 2010-08-03. Sierra Resource Gropup - KINGMAN, AZ, Aug 03, 2010 (MARKETWIRE via COMTEX) -- Sierra Resource Group, Inc. (SIRG) is pleased to announce today that Mr. James Stonehouse, P. Geo. (CA Reg. #5518) has joined Sierra Resource Group, Inc. as its CEO and President. Mr. Stonehouse will also serve on the company's Board of Directors. Mr. Stonehouse brings a wealth of experience, leadership, knowledge and various skills that have been acquired through his many years of experience in the field and practical training. Mr. Stonehouse will devote all his time to assure the company succeeds.

Mr. Stonehouse is a mining professional educated at Dartmouth College where he received both his Bachelors and Masters degrees, (1974, 1976).

He brings over 30 years' experience in the development of new mineral resources in North and South America, Central America and Central Asia.

He has held senior level executive positions with major mining companies and supervised successful exploration programs which have led to the discovery and the development of new mines around the world such as: Kazakhstan, Colombia, Ecuador, Venezuela, Honduras, Nicaragua, Guyana and the United States.

Mr. Stonehouse's expertise has led to the development of new mines producing gold, copper, lead-zinc, silver, diamonds and gemstones.

Mr. Stonehouse's goal is to place the Chloride Copper Project into production early 2011 and looking for new mining opportunities for the company in North and South America.

Mr. Stonehouse was quoted as saying, "I'm excited about this opportunity, I look forward to assembling a management team with similar goals and expectations not to mention expertise in our industry. I believe our shareholders and investors will be very happy with the end result."

About Sierra Resource Group Sierra Resource Group, Inc. is a U.S based junior exploration and mining company, which owns 80% of the Chloride Copper Mine in Arizona. The Chloride Copper Mine deposit is hosted by Late Tertiary conglomerates and, to a lesser extent, by Quaternary alluvium and Cretaceous granitic rocks. Copper mineralization at Chloride Copper Mine is in the form of mineralized lenses contained within a paleochannel a few thousands of feet long and up to 750 feet wide. The source of copper at Chloride Copper Mine is interpreted to be the low grade porphyry-type copper mineralization at Alum Wash, about 3.5 miles northeast of the Chloride Copper Mine deposit. The mineralization is characterized by dark blue to black rock similar to the Exotica deposit, a satellite of the huge Chuquicamata copper deposit in Chile.
 

Form 8-K for SIERRA RESOURCE GROUP INC

19-Jan-2011

Entry into a Material Definitive Agreement, Change in Directors or Prin

On January 7, 2011, we entered into an Employment Agreement with our Chief Executive Officer, R. Patrick Champney, providing for the following terms:
(a) an executive base salary of $150,000;
(b) participation in all of our group insurance plans;
(c) issuance of 1,000,000 shares as a bonus for entering into the Employment Agreement and 1,000,000 share grants on each anniversary of succeeding 1 year periods of employment; and
(d) Mr. Champney is prohibited from disclosing any trade secrets, confidential information or other proprietary information. The Employment Agreement is for a term of 5 years.
On January 14, 2011, we issued one million (1,000,000) shares of our common stock to Mr. Champney for services pursuant to the terms of his Employment Agreement. Mr. Champney holds an aggregate of two million (2,000,000) shares of our restricted common stock.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;   Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 6, 2011, our Board of Directors appointed R. Patrick Champney as our Chief Executive Officer and Secretary and approved an amendment to our bylaws increasing our Directors from three (3) directors to seven (7).   

Contemporaneous with this increase in directors and effective as of January 7, 2011, our directors appointed R. Patrick Champney and Luis Munoz as members of our Board of Directors subject to shareholder approval. If our majority shareholders approve the nomination of Messrs Champney and Munoz to our Board of Directors, our Board will consist of James Stonehouse, R. Patrick Champney, Luis Munoz, Paul Enright and Georges Juilland in such event we will file a Schedule 14C Information Statement.

Patrick Champney 
R. Patrick Champney has been our Chief Executive Officer and Secretary since January 6, 2011. From 2006 to 2010, Mr. Champney was the Vice President/Director and Chief Operating Officer of Champ Automotive Group, Inc. located in Auburndale, Florida, an independent automobile dealership and secondary financing company. From 2005 to 2006, Mr. Champney was the General Manager/Chief Operating Officer of Peoples Choice Aesthetic Surgery and Medical Day Spa located in Orlando, Florida. Mr. Champney has fourteen years of additional experience as a corporate consultant, Chief Financial Officer, registered broker and financial consultant.

Luis Munoz 
From August 2009, Luis Munoz has been the General Manager of a business and legal consulting firm, Neglex, located in Quito, Ecuador. From 2004 to 2007, Mr. Munoz was a Vice-Chairman of MN&A - Abogados located in Quito Ecuador. Mr. Munoz has approximately seven years of additional experience as a business and legal consultant and general manager. In 2009, he received his Masters in Business Administration from INCAE Business School located in Alajuela, Costa Rica. In 2004, he received a Doctor of Law Degree from Universidad International del Ecuador located in Quito, Ecuador.

On January 6, 2011, James Stonehouse was appointed as our Chief Operating Officer of Mining Operations and resigned as our Chief Financial Officer. We presently do not have a Chief Financial Officer.

Section 5- Corporate Governance and Management

Item 5.03 Amendments to Articles of Incorporation or Bylaws 

On January 6, 2011, pursuant to Section 78.315 of the Nevada Revised Statutes (the "NRS") and subject to stockholder approval, our Board of Directors unanimously approved an amendment to our Articles of Incorporation increasing the number of shares of common stock that we are authorized to issue from 150,000,000 to 250,000,000. As mentioned above, our directors approved an amendment to our bylaws increasing our directors from three (3) to seven 

Item 8.01. Other Events 

On August 8, 2010, our former controlling shareholder, Medina Property Group LLC,("Medina"), returned to treasury an aggregate of 45,070,00 restricted shares of our common stock which we reissued to Medina's assignees. This assignment reduced the shares previously issued to Medina from 76,500,000 shares then representing 65.08% of our outstanding shares to 4,300,000. As such, Medina is no longer a beneficial holder of our common shares. The common shares assigned by Medina were reissued by our transfer agent on August 20, 2010. Of the aforementioned shares one million (1,000,000) shares were issued to R. Patrick Champney, our Chief Executive Officer for services he rendered to Medina. These shares issued to Mr. Champney were issued with a restrictive legend and have not been resold or transferred by him. As such, Mr. Champney holds an aggregate of two million (2,000,000) shares of our common stock.

 

"We are very pleased and fortunate to have each of these respected gentlemen represent us on the board as it is quite unique for a company of our size to be able to attract directors of this caliber.  We believe the business and technical experience they bring to the table is unmatched as well as the South American connections that could help propel this company to the next level." said Patrick Champney, Chief Executive Officer.

Georges Juilland  - SIRG BOD

  

http://www.infomine.com/publications/docs/InternationalMining/Chadwick2008ff.pdf

 

Ricardo Cordon, age 55
Ricardo Cordon Founder and President of ARC S.A. since 1988, a consulting company specializing in business process optimization and information technology. His clients include some of the largest companies in the Americas including Grupo H, Wal-Mart Central America, Banco Santa Cruz. He has a Ph.D, in Computer Science from Princeton University, His academic experience includes Teaching Assistant and then Research Assistant at Princeton University 1982-85; Visiting Professor at: Francisco Marroquin 1986-87, Rafael Landivar 1988, Del Valle 1989-90 and 1996; Mesoamericana 2001; Dean, School of Science and Technology, Universidad Internaciones, Guatemala. Mr. Cordon's experience and skills in business management, business process optimization and IT systems consulting qualify him to serve as a director.

Timothy Benjamin, age 45
Timothy Benjamin Manager of Assurant Solutions Inc., which provides diversified financial services single fee debt and auto debt products (Six Sigma Green Belt Certified) since 2003; Manager of DFS Claims Financial Analysis & Reporting since 2003. Mr. Benjamin's previous positions include President of CBMJ Enterprises Inc, performing financial and compliance due diligence on public companies, chief financial officer of GSociety Inc. and Pelican Properties Int'l Corp., both public companies. He also held supervisory positions with the Federal Reserve Bank of Atlanta for six years. He received his MBA in 1995 and his Bachelor's of Business Administration degree in 1989, both from Florida International University.

Sierra Resource Group Director Luis Munoz Appointed Top Legal Advisor by the Government of Ecuador.

Jun. 17, 2011 (PR Newswire) --

KINGMAN, Ariz., June 17, 2011 /PRNewswire/ -- Sierra Resource Group, Inc. (OTCBB: SIRG) announced the appointment of a member of its board of directors, Luis Munoz, to the position of Top Legal Advisor for the National Department of Development and State of Ecuador.  In this capacity, Dr. Munoz will provide legal counsel to all Ecuadoran government companies, including oil and mining companies.  

"We congratulate Dr. Munoz, and we are very proud of him," said Patrick Champney, Chief Executive Officer of Sierra Resource Group. "An appointment like this is a great honor and illustrates the level of respect and confidence the government of Ecuador has in Dr. Munoz.  I have made the statement previously, and believe that it bears repeating, that we are extremely fortunate to have professionals of his caliber serving on our board of directors.  I further believe that the guidance and assistance of Dr. Munoz and our other directors can provide our company with the opportunity to grow from a developmental mining company to a formidable competitor in the industry."

Luis Munoz has served the company on its board of directors since January 2011. He has been the General Manager of Neglex, a business and legal consulting firm located in Quito, Ecuador, since 2009.

 

Capitalization
Currently, we have been authorized to issue only up to a total of 150,000,000 shares of Common Stock, which is being
increased pursuant to the Articles Amendment. The par value of the Common Stock will remain unchanged at $0.001 per share. Based
on the number of issued and outstanding shares of Common Stock as of the Record Date, which is 117,852,000, a total of 32,148,000
shares of Common Stock are authorized but unissued immediately prior to the Amendment. Upon effectiveness of the Articles
Amendment we will continue to have 117,852,000 outstanding but will have 132,148,000 authorized but unissued shares of Common
Stock available for future issuance. Our Common Stock will remain quoted on the OTC Bulletin Board after the effectiveness of the
actions described herein.
Following the effectiveness of the Articles Amendment, our capitalization will change as follows:
Capitalization Prior to the Articles Amendment:
Common Stock:
Authorized for Issuance: 150,000,000
Outstanding: 117,852,000
Reserved for Issuance: 0
Authorized and Unreserved for Issuance: 32,148,000
Preferred Stock:
Authorized for Issuance: 10,000,000
Outstanding: 0
Reserved for Issuance: 0
Authorized and Unreserved for Issuance: 10,000,000
Capitalization Immediately Following the Articles Amendment:
Common Stock:
Authorized for Issuance: 250,000,000
Outstanding: 117,852,000
Reserved for Issuance: 0
Authorized and Unreserved for Issuance: 132,148,000
Preferred Stock:
Authorized for Issuance: 10,000,000
Outstanding: 0
Reserved for Issuance: 0
Authorized and Unreserved for Issuance: 10,000,000
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SIRG Sierra Resource Group, Inc.
_SIRG Sierra Resource Group, Inc.
http://www.stockgoodies.com/m/photos/get_image/file/95cbf075bf5abf51a58ce2a621ef1551.jpg
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