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Message: Any Idea on how we can make this company move on? I have tried but I am out of ammunitions,, there is a Jewellery box sitting there 6Kg/t over 1m Au

Any Idea on how we can make this company move on? I have tried but I am out of ammunitions,, there is a Jewellery box sitting there 6Kg/t over 1m Au

posted on Oct 15, 2018 11:59AM

Hi, I am the QP who signed the mineral resources in 2012. More than ever I believe there is something to be done with the BT gold deposit. I have stayed away with the tumultuous times the company went true. I started contacting the company in July 2017 once deal with HPQ was off to offer my professional services which were rejected by MD & FC as told me they hired AGP and WSP. This service offer was rejected in a call on August 28th 2017. As nothing was obviously not going on I took again the opportunity to offer service either for a PEA, Drilling supervison, Quartz and VMS development and got a negative answer again on the 26th of January 2018. I made the following proposal to pay with cash and gold produced with my private company.

 

Je te transmet une offre d’acquisition de la part d’Enertourbe Inc. pour une portion de la propriété BT uniquement avec Ascott claims et droit de surface , pas tous les claims que vous détenez dans le secteur.

 

 

+ 25,000$CDN Cash à la signature

 

+ 25,000$CDN au transfert de la propriété

 

+ 2000 Onces d’or Métal à la production en portion trimestrielle ( au cours du jours 1662$Can équivaut à Can$3,324,000)

 

+ NSR de 1% sur la propriété

 

++Le premier 1/2% Rachetable pour 1 Million

 

++Le deuxième ½ Rachetable pour 2 Millions

 

 

Enertourbe Inc s’engage à effectuer les travaux requis pour maintenir les titres ainsi que leur renouvellement.

 

 

 

L’idée est de conclure rapidement afin d’aller chercher les permis et autorisation pour cet été. Si ceci vous conviens on pourrait préparer un document.

 

 

 

Espérant que cette proposition puisse rencontrer vos objectifs.

 

Was declined

----

I found a client willing to do a property swap with BT and a property in Abitibi in March 2018, this was declined.

Then on april 2018 I made the following proposals

 

After analysis here are conceptual proposals, we think the purchase of 100% is not possible with the proposed equation received as there are not enough benefits to shareholders and BT is the main asset of GNH about 1.4Millions cap market)

 

 

I prefer the scenario 2 for 2 reasons, we work and share value increase creating a win-win situation

 

 

 

Scenario 1 ( this requires approval of shareholders and exchange 90 days+, we miss this season of work)

 

·  90% sale of the B-T property including land and claims.

 

·  $400,000 cash spread over 3 years with $50,000 paid and the balance of $350,000 spread over the next 2 years upon the transfer of the property

 

·  $1.5 Million dollar work commitment on the B-T property spread over 4 years.

 

·  1% NSR, .5% buy back at $1Million and .5% buy back at $2Million.

 

 

 

Scenario 2 made of 2 steps (this can be done more quickly and have this summer to work) JV and option to acquire up to 90% of the property with the following fixed conditions

 

Step 1: Buyer buys for 50% i.e, 50/50 with us being the operator and responsible of our work and impact of the environment if any.

 

·  50% sale of the B-T property including land and claims.

 

·  $150,000 cash spread over 2 years with $50,000 paid at signature of agreement and the balance of $100,000 one year after

 

·  $1 Million dollar work commitment on the B-T property spread over 3 years.

 

Payments can be made in advance to accelerate completion as well as work commitment. In the sampling and met testing and if any bulk sample process if there is a profit made on a bulk sample as example, GNH & the buyer will share 50/50 even if the payment and/or work commitment is not  completed in full.

 

Step 2: First right of refusal to our group for an additional 40% (need shareholders and Exchange approval)

 

·  40% sale of the B-T property including land and claims.

 

·  Total funding and construction of on-site mill with permits.

 

Should exchange or shareholders block the transaction automatically an additional 10% must be transferred to buyers for the sum of  100,000$.

Memo of work to be provided to GNH in order to allow follow-up of work and public disclosure on the development progress

----

Did not go 

Revised offer on May 15 2018

 

 

Please see below comments on your comments. It does not looks good in our perspective, it is why we just put a modified proposal below:

 

 

 

_____________________________________________________________________________________________________________

 

Here is a modified proposal, we need to keep it simple and straight forward.

 

+This is an option to earn 51% of the B-T Deposit (8 Claims and land 2 lots) . 

 

+The contract will state that the property will be transferred once all of the conditions have been met.

 

+The Cash Payment is for $300,000 in total. $25,000 is paid at signature after due diligence, $25,000 , 6 month after signature, $100,000 paid at the 12-month anniversary of signature, $50,000 paid at the 18-month anniversary of signature, $50,000 paid at the 24-month anniversary of signature and the last payment of $50,000 at 36-month anniversary of signature.

 

+ $ 1 Million of work on the property within 24 months of the signature of the option. In addition to drilling and sampling, main tasks will be:

 

A)     Prepare an environmental baseline study

 

B)      Carry Met test and environmental testing on rejects

 

C)      Prepare non independent PEA & PFS

 

D)     File Request for C of A and a request for mining lease to MERN

 

 

 

+ At signature of the agreement our group becomes the operator

 

+ The operator is responsible of its work on the property

 

+ Once all aspect meet, a JV agreement will have to be put in place.

 

 

GNH will have the right to seek other partners if and only if our group fail to meet the said scheduled payments and work commitment.

 

During the option , GNH will be responsible to maintain the mining titles in good standing as well as surface rights. Our group will provide information so GNH can prepare and filed the exploration works on the property.

 

GNH will have to be stand still on the property during the option agreement.

The terms (comments) were not achievable by our group so it was rejected. We had a call on August 2018 and cash expectation were not achievable as not going on the property. 

I have explained that it is time to move on with BT as projects with high grade gold are doing well just thinking about WallBridge Fenelon with PFS reserves in the 28.9K Ounces of Gold.

BT has the potential to deliver 30Kounces from in-pit resources and 70KOz from UG resources

Now that RNX has hit super Visible Gold in Australia look at their stock, we are missing the Boat with the Board attitude not able to move and do something with the Jewellry box of the 6000 g/t over 1m 6Kg/t Au at BT.

I finally proposed GNH a Private placement of 135K$ in exchange of shares at 10c plus 1,350,000 warrants at 15c with proceed exclusive to drilling 3 holes (1 PQ on the one of the Magic core and 2 others) . Have fresh core for met test  in China at Xinhai mill supplier and carry a PEA based on SGS independent mineral resources of 2012.

On sept 26th they declined, again.

Any idea or willing to propose a new plan.

Regards

Claude 

 

 

 

 

 

 

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