Maudore Minerals Ltd MAOMF

this is easiest to read

[EasyMoney1976]

From the June 20, 2012 news, it states this:......................The Company has one year from April 20, 2012, to either complete a bankable feasibility study demonstrating a minimum after tax internal rate of return of 15% on the Property or give notice to the Optionor of its commitment to cause the Commencement of Commercial Production from the Property (which notice shall specify the number of tons of proven and probable ore reserves on the property at the time estimated by the Company and the anticipated annual rate of production). If the Company does not deliver the above within the specified time frame the Optionor has the option to purchase back the Company’s 75% interest in the property for the lessor of i) an amount equal to the expenses incurred by the Optionee and ii) $6 million;..............................So...now they need a BFS by April 20, 2013 or Noront takes it back for 6 mill and gives it away...to a company being financed by a private equity firm....a secured financing of 35 million.>