History
A tiny shell called Massey Exploration became Nevada Gold Corp. in 2012, chased gold and silver options without funds, stopped filing in 2014, and lost its SEC registration in 2019.
2008-2012: A shell runs out of cash
The company began as Massey Exploration Corp., run by its founder, Michael Hawitt, as sole officer and director. In 2008 the SEC reviewed its registration filing, questioned its name for being confusingly similar to Massey Energy Company, and asked for a new risk warning. The warning noted that the company's consulting geologist had been tied to over twenty companies since 1999, most of which never advanced their exploration plans and five of which abandoned exploration entirely.
The record then goes quiet for several years. By the 10-K filed in May 2012, the net loss for the year had jumped to $129,381 from $17,753, and total assets stood at just $365. The company was effectively out of cash.
2012-2013: New owners, new name, Nevada options
In July 2012 Hawitt resigned all his roles. Merrill W. Moses, an oil and gas veteran, became CEO, president and director, and Charles C. Hooper became vice president and director. Days later the company was renamed Nevada Gold Corp. and carried out an 8.5-for-1 forward split, lifting shares on issue from 6,300,000 to 53,550,000.
In August 2012 it signed an option with Development Resources LLC to earn 51% of 2,560 acres in the Long Canyon Gold Trend, needing $125,000 in cash plus 3,000,000 shares to fully exercise. That option lapsed after the company missed its $125,000 payment. A March 2013 option with National Energy Development LLC on the same ground became the live claim.
In May 2013 Moses and Hooper personally bought large blocks of shares from Hawitt for nominal cash, giving them about 24% and 12% of the company. The 10-K filed in June 2013 showed total assets of $254 and a $72,007 loss for the year, with cumulative losses of $257,373. In September 2013 the company added an option with Western States Silver, LLC to acquire 75% of the historic Diamond Jim silver-lead-gold mine in Elko County, starting with a $5,000 payment but with work commitments rising to $1.25 million by year four.
2014-2019: Silence and revocation
The last periodic filing came in 2014. The record does not show whether either option produced a real mining interest, or what happened to the company afterwards. In March 2019 the SEC revoked its stock registration for repeatedly failing to file required reports, in a default judgment issued alongside two unrelated shells.
Written from the 9 story beats below (2008 to 26 Mar 2019), which come from the company's own announcements and filings.