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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

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Message: Delegation Agreement ... THIS IS A SURPRISE!!!

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Delegation Agreement ... THIS IS A SURPRISE!!!

posted on Oct 11, 07 03:45PM

From what I can tell from reading the IPO and other documents the delegation agreement stipulates that ...

Escondoro and Sadco will pay ALL obligations due by Plexmar to the land owner including the 2.5% NSR on the property. The land owner has agreed to this in return for the issuance of 2.2 million additional shares of Escondoro and 1.1 million warrants.

SO, PLE no longer has to pay a cent to the land owner and if this mine goes into production they still have a 40% carrying interest without any NSR.

THey will more than likely still be obliged to pay 40% of explorations costs after year 3.

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