Welcome To The Inspiration Mining HUB On AGORACOM

The company is exploring for nickel deposits on its Langmuir property near Timmins, Ontario; for nickel-gold-copper on its Cleaver and Douglas properties; and for molybdenum and rare earth elements at recently acquired Desrosiers property.

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Message: Re: I forgot to mention ....

Feb 18, 2009 04:41PM
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Feb 18, 2009 07:07PM
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Feb 18, 2009 07:41PM
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Feb 19, 2009 12:45AM

Seems Tantallon is still in bed. As you said we only have the MD&A to rely on and as I posted last night. here's the company payment plan.

Do you see a problem with it Vanchester? Not happy about it? Don't like that we don't own Cleaver 100% quite yet? What's up? Did we miss a payment? Do we have the cash to make the future payments?

McNeil Township. The vendor has agreed to grant an exclusive option to the Company to acquire 100% interest of the mineral claims. The Company agreed to:

i) Pay the sum of $38,000 on the date of execution of the option agreement; (paid) $60,000 by December 13, 2007, (paid), $90,000 by June 13, 2008 (paid), $150,000 by June 13, 2009 and $300,000 by June 13, 2010; and

ii) Expend on exploration and development of the mineral claims the following amounts: $200,000 by December 13, 2007 (incurred), $300,000 by June 13, 2008 (incurred); $400,000 by June 13, 2009 and $500,000 by June 13, 2010;

In the event that the option is fully exercised, the Company will then own a 100% undivided interest in the mineral claims, free and clear of all liens and encumbrances, subject only to 3% NSR in favor of the vendor. The Company also has the option to purchase 2% of the 3% NSR for the sum of $2,000,000 expiring June 13, 2017."

"During the fiscal year ended September 30, 2007, the Company acquired two more claim groups south of Timmins, Ontario, area. On June 13, 2007, the Company has entered into an option agreement to acquire certain rights and mineral claims located in the Porcupine Mining Division in the Province of Ontario (the “Cleaver Property”). This property consists of 13 mining claims containing 192 mining claim units and is located in the northeastern portion of Cleaver Township, the southeastern portion of Fallon Township, the southwestern portion of Fasken Township and the northwestern portion of

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Feb 19, 2009 05:39AM
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