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TitleTAON TAO Minerals Ltd.
CountryColombia
Fans
 
 
Description

Officina 301 Edeficio El Crusero, Carrera 48, 12 Sur - 148 Medellin, Colombia

Share Structure:

(last updated: 6/27/2011)

Outstanding Shares: 342,605,877 Authorized Shares: 1,000,000,000

 Inception: 2004:

Tao Minerals Ltd. is a mining exploration and development company formed to acquire, develop, and exploit natural resource properties

focusing primarily on the rich, yet highly underdeveloped gold deposits of Colombia doing so in a socially and environmentally responsible manner.

http://www.taominerals.com

James A. Sikora
President, TAO Minerals Ltd.
minerals.tao@gmail.com

Contact Customer Relations at 1-877-331-8777

MANAGEMENT

James A. Sikora ~ President, Tao Minerals Ltd.

Following an early career working for a subsidiary of an international oil well service company supervising drill floor operations at High Arctic locations throughout Canada and the USA and offshore Newfoundland and Nova Scotia, James entered the equities brokerage business with McNeil Mantha in 1987, becoming a licensed commodities broker and options broker three years later while at Nesbitt Thompson. In 1990, James began a career in public company finance and consulting and over 15 years he has worked with numerous public companies, providing financing from US, Canadian and European sources in addition to guiding management decision-making on mining projects all over the world. 

Duncan James Bain ~ Director

With a PhD in Geology from the University of Western Ontario, Duncan is a Qualified Person as defined by National Instrument 43-101. He has been a director at St. Elias Mines Ltd. (V.SLI), Tao Minerals and Goldbridge Mining, as well as a geological consultant for various projects in Canada, Mexico, Honduras and Ecuador. During his career he helped bring a 100,000 oz gold deposit into production for Blackdome Mines in British Columbia, two silver deposits into production for Terra Mines in the North West Territories, and took the 1.8 million oz gold deposit from exploration to pre-production stage for Consolidated Cinola Mines in British Columbia.

Walter Terrence Plummer ~ Director

Walter was the coordinator and sponsor of the RMS-Ross Placer Gold Mining Seminars for ten years between 1981 and 1991, an international event dedicated to the presentation of machinery, concepts and environmental considerations to those involved in alluvial, elluvial and hardrock gravity recovery systems.  In 1982, Mr. Plummer formed RMS-Ross Corporations, a company specializing in the development and manufacture of gravity concentration equipment for the gold and heavy mineral mining industries, including the Derocker (a patented self feeding, self cleaning grizzley), Ross Box (patented tri-channel sluice system), and high efficiency circular jigs. Since 1970, Walter has consulted on over 20 alluvial and elluvial operations around the world.

 

Check back often for updates

 

EARNINGS: 2004 -PRESENT                                                               Net loss from inception to our quarter ended October 31, 2010 was $12,992,594

2004: $0.00     2005: $0.00     2006: $0.00     2007: $0.00     2008: $0.00     2009: $0.00     2010: $0.00     Jan 1, 2011 -present: $0.00

RISK FACTORS:

 Source: 01/28/2011:  Quarterly Report (10-Q) • To view the report: Click HERE

Because there is no assurance that we will generate revenues, we face a high risk of business failure.

We have not earned any revenues as of the date of this quarterly report and have never been profitable. We do not have an interest in any revenue generating properties. We were incorporated in September 2004 and to date have been involved primarily in organizational activities and limited exploration activities. Prior to our being able to generate revenues, we will incur substantial operating and exploration expenditures without realizing any revenues. We therefore expect to incur significant losses into the foreseeable future. We have limited operating history upon which an evaluation of our future success or failure can be made. Our net loss from inception to our quarter ended October 31, 2010 was $12,992,594. We have incurred losses for the quarter ended October 31, 2010 of $2,214,690. We recognize that if we are unable to generate significant revenues from our activities, we will not be able to earn profits or continue operations. Based upon current plans, we also expect to incur significant operating losses in the future. We cannot guarantee that we will be successful in raising capital to fund these operating losses or generate revenues in the future. We can provide investors with no assurance that we will generate any operating revenues or ever achieve profitable operations. If we are unsuccessful in addressing these risks, our business will most likely fail and our investors could lose their investment.

Revenues : We have not earned any revenues since our inception and we do not anticipate earning revenues in the near future.

 Liquidity and Financial Condition:

As of October 31, 2010, our current total assets were $97,574 and our total current liabilities were $1,934,589 and we had a working capital deficit of $1,837,015. Our financial statements report a net loss of $4,484,002 for the nine month period ended October 31, 2010, and a net loss of $12,992,594 for the period from September 23, 2004 (date of inception) to October 31, 2010.

We have suffered recurring losses from operations. The continuation of our company is dependent upon our company attaining and maintaining profitable operations and raising additional capital as needed. In this regard we have raised additional capital through equity offerings and loan transactions.

Other Risks

Source: 01/28/2011:  Quarterly Report (10-Q) • To view the report: Click HERE

 Because some of our officers and directors are located in non-U.S. jurisdictions, you may have no effective recourse against the non U.S. officers and directors for misconduct and may not be able to enforce judgment and civil liabilities against our officers, directors, experts and agents.

Some of our directors and officers are nationals and/or residents of countries other than the United States, specifically Canada and Colombia, and all or a substantial portion of such persons' assets are located outside the United States. As a result, it may be difficult for investors to enforce within the United States any judgments obtained against our officers or directors, including judgments predicated upon the civil liability provisions of the securities laws of the United States or any state thereof.

QUARTERLY REPORTS:

09/15/2010:  Notification that Quarterly Report will be submitted late (NT 10-Q)

09/30/2010:  Quarterly Report (10-Q)      61,488,263 common shares issued and outstanding as of September 29, 2010

10/25/2010:  Quarterly Report (10-Q)      76,916,834 common shares issued and outstanding as of October 22, 2010

12/16/2010:  Notification that Quarterly Report will be submitted late (NT 10-Q)

01/28/2011:  Quarterly Report (10-Q)      205,202,533 common shares issued and outstanding as of January 27, 2011

COMPANY EVENTS:

08/12/2010:  Tao Minerals Ltd. Provides Property Update on the El Colmillo Gold Project

08/18/2010:  Britanico Security Group Commences Security Assessment at El Colmillo Gold Mine for Tao Minerals Ltd.

08/31/2010:  Tao Minerals Ltd. Provides Update on Financing Activities

10/12/2010:  Tao Minerals Ltd. Presents Letter of Intent to Acquire the Mutata Property

11/04/2010:  Tao Minerals Ltd. Provides Update of the Mutata Property

12/01/2010:  Britanico Security Group Commences Security Review of the Mutata Project for Tao Minerals Ltd.

12/08/2010:  Tao Minerals Ltd. Strengthens Exploration Team and Commences Four-Stage Geophysical Review of the Mutata Project

01/26/2011:  Tao Minerals Ltd. Provides Corporate Update and Milestones for 2011

 

 

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TAON TAO Minerals Ltd.
_TAON TAO Minerals Ltd.
http://www.stockgoodies.com/m/photos/get_image/file/b93c91206e967aa44ca7bd1302a9b00f.jpg
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