STAG ....Old news.... I missed this ; )
St. Anthony writes down St. Anthony project for $2.72M
2022-04-04 00:01 ET - News Release
An anonymous director reports
ST. ANTHONY GOLD CORP. PROVIDES UPDATE ON ST. ANTHONY PROJECT
St. Anthony Gold Inc. has received a notice of default under its option agreement dated March 15, 2022, with Magabra Resources Corp. While the 30-day default correction period has not yet expired, the company has determined that it would take the conservative approach and impair the property in its just filed quarterly statements, resulting in a writedown of $2,725,119.
While the company disputes the legal and factual basis of the default notice, it is in continuing discussions with Magabra. However, since Magabra created the basis of the alleged defaults by repeatedly refusing to provide the information needed to allow the company to complete the earn-in of its interest in the St. Anthony property, there is no certainty that this matter will not end up before the courts.
About St. Anthony Gold Inc.
St. Anthony, a Canadian-based mineral exploration corporation, is focused on identifying and advancing high-value mineral properties.
We seek Safe Harbor.
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