OTCPK:CFMSF - Post by User
Post by
Alexspushkinon Mar 12, 2012 8:20pm
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Post# 19659921
22 Million coming from ??
22 Million coming from ?? Sure hope they don't issue shares at these rock bottom prices. I read some where that they won't be taking the Osisko loan. So what's the best way to raise the cash??
"Clifton has the right to acquire an additional 90% of the Duparquet Project in addition to the 10% it already owns (subject to a net smelter return royalty of 2% on a major portion of the property for the duration of the option period) by making cash payments to the underlying owners, of which $8.5 million has been paid. Additional payments ($22 million required prior to the end of 2012 and an additional $30 million prior to the end of 2017) must be made in order for Clifton to obtain the 100% interest."
-Alex