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Message: Re: Coastport earn-in..here it is
1
Mar 11, 2008 02:40AM
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Mar 12, 2008 05:46AM

OK ebear, I found the Shyri earn-in agreement:

"In January 2006, Cornerstone Ecuador S.A., a wholly owned subsidiary, sign an earn-in/option agreement with Coastport Capital Inc,, ("Coastport") covering Cornerstone's Shyri Gold properties. Implemented in its entirety, the agreement would see Coastport privide US$8 million to fund exploration programs on the properties and make option payments to Cornerstone of US$490,000 and $490,000 in shares, over a period of 4 years. Additionally, Coastport can earn 100% interest in the property by issuing shares to Cornerstone equal to 40% of Coastport's fully diluted share capital and granting Cornerstone a 1% net smelter royalty. Coastport will have the right, under certain circumstances, to purchase Cornerstone's NSR at fair market value."

Well, here you are, CPP needs to find US$8 million (beg, borrow or steal) if they are to proceed with any drilling and CGP would share in the Shyri find even if CPP ended up owning 100% of Shyri (by owning 40% of CPP).

Now just go find that GOLD!!!

1
Mar 12, 2008 12:55PM
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Mar 12, 2008 02:58PM
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Mar 12, 2008 07:51PM
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Mar 13, 2008 05:05AM
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