Junior mining company active in the acquisition, exploration and development of resource properties in Newfoundland (Gold) and Labrador (Uranium)

Gold PRODUCER (40% JV): 240,000 oz Au deposit + expansion potential; 16 MILLION shares of PXR-v

Hub Home

> Log In

Demo Video
Private Messages
Edit My Profile
View/Edit Portfolio

AGORACOM News Flash

AGORACOM Wire - Wednesday February 15th, 2012

Breaking News ....

Lomiko (LMR: TSX-V) to Complete 43-101 Report on Previous Drilling at the Quatre Milles Graphite Property *CLIENT* Read More

Top Sector Stories ....

Strike Graphite Corp. (TSXV:SRK) Acquires Wagon Graphite Project in Quebec in Vicinity of Timcal's Lac des Iles Graphite Mine *CLIENT* Read More | Profile

Strike Graphite goes "Beyond the Press Release"

McLaren Resources (CNSX:MCL) Drills 7.0 Grams Gold Over 7.4 Metres at the TimGinn Property Located Adjacent to the Hollinger Mine *CLIENT* Read More | Watch Beyond the Press Release

DONNER METALS INTERVIEW: David Patterson Discusses the Bracemac-McLeod Mine Development Beyond the Press Release

AGORACOM Launches GraphiteStocksBlog.com

We're proud to announce the launch of GraphiteStocksBlog.com a website dedicated to the needs of investors and companies in the fast growing Graphite industry.

INAUGURAL GRAPHITE SPONSORS

Message: NEWS: New Island sells marble deposit for $10, royalty...

Reply New Message

« Prev Message Back To Forum Go to Threaded View Next Message »

red911

Rank: [?]

President

Points: [?]

15294

Rating: [?]

Votes: 144 Score: 3.6

Currently 3.7/5 Stars.

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.

NEWS: New Island sells marble deposit for $10, royalty...

posted on Jun 26, 09 02:54PM

New Island sells marble deposit for $10, royalty

2009-06-26 13:48 ET - News Release

Mr. Harold Wareham reports

NEW ISLAND ANNOUNCES SALE OF CLAIMS RIGHTS TO MARBLE DEPOSIT

New Island Resources Inc. has sold the claims rights to its marble deposit near Deer Lake in Newfoundland to Island Industrial Ltd. for $10, and other good and valued consideration. Under the terms of the sale agreement, New Island will receive a royalty of 10 per cent of the gross profits from the sale value of products generated from the deposit. Additionally, New Island retains a right of first refusal should Island Industrial decide to dispose of the property in the future.

Harold Wareham, president, states that while disappointed New Island was unable to bring the marble deposit into commercial production, it is pleased to be able to reach an agreement with Island Industrial, a company which is and has been actively involved in the dimension stone industry in the province.

We seek Safe Harbor.

Reply New Message

« Prev Message Back To Forum Go to Threaded View Next Message »