McFaulds Resources Inc ( MFR )
Quoted from Management Discussion & Analysis of GGY / TBM
During the quarter ended September 30, 2008 the Company and its partner Tribute Minerals Inc. (“Tribute”) entered into a formal agreement to roll their respective interests in the McFaulds Lake land holdings into a new company to be known as McFaulds Resources Inc (“McFaulds”). The new entity was incorporated on July 23, 2008.
It is intended that MFR will file a prospectus to acquire a listing on a recognized.
Goldeye and Tribute will retain a 1% net smelter return royalty (“NSR”) in the property and will each receive 14,000,000 McFaulds common shares (8,000,000 of which are to be distributed to the parent companies’ shareholders) when the agreement to transfer the property is signed.
As of November 28, 2008, the Company and Tribute have not rolled their interests in the Property to McFaulds. In view of market conditions subsequent to the reporting period.
Goldeye and Tribute are reviewing various options relating to the property.
RN & JH involvement to date:
SEDI - Harvey, John Dennis January 7, 2009
GOLDEYE EXPLORATIONS LIMITED Common Shares 370,000
Tribute Minerals Inc. Common Shares 115,000, Options 200,000
Baltic Resources Inc Common Shares 200,000
First Narrows Resources Corp. Common Shares 400,000
Canadian Orebodies Inc Common Shares 500,000
Freewest Resources Common Shares 50,000, Options/warrants – none (0)
Major Drilling Group International Inc Common Shares 3,000
Noront Resources Ltd Common Shares 794,000, Options 650,000
PGM VENTURES CORPORATION Common Shares 40,000
SEDI - Nemis, Richard January 7, 2009
GOLDEYE EXPLORATIONS LIMITED Common Shares 420,000
Tribute Minerals Inc. Common Shares 350,000
Nickel Petroleum Resources Ltd. Common Shares 276,929
NORONT RESOURCES LTD Common Shares 1,649,590, Options 1,700,000
Who will be the money man?
Sheldon Inwentash
Joe Dwek
Rob McEwen
Warren Irwin. ( haha )
There is an amalgamation/consolidation in progress,
There is a third or more properties involved, can’t get a confirmation on which ones for sure… co, bol, urp, prb, nrn, kwg, wpr, blr, mc, ewr,
Hg
