Re: WTM = LSG already owns 55% of the Bristol Township-JV - sculpin
in response to
by
posted on
Mar 03, 2010 06:40PM
Phantomas, I beleive part of the option agreement with wtm was for them to complete a 43-101.
That´s NOT correct, sculpin.
Please read this paragraph from my previous post (MD&A Dec 2009):
Having vested at a 55% interest in Probe’s right to the Bristol property, Sydney may increase its interest to 70% by making an additional cash payment of $50,000 and issuing an additional 50,000 common shares within 60 days of vesting and delivering a 43-101 report on a resource developed within the bounds of the properties within two years of having vested.
Meaning that they have to deliver a 43-101 in two years (by June 2012) in order to increase their interest from 55% to 70% !
FANTOMAS