On August 2, 2017 the Company entered into an agreement to acquire a 90% interest in the REN Mineral Claims (“REN”) located in the northern Monashee Mountains of Southeastern British Columbia. As per the terms of the agreement the Company can acquire a 90% interest by completing the following: o Incur exploration and development expenses of $200,000 within two years.
o Cash payments of $33,333 over the next year.
o Issuance of
600,000 common shares of the Company over the next two years (200,000 issued
on
August 2, 2017 and fair valued at
$192,000)
o The Company can purchase the remaining 10% interest in the REN property for $200,000 cash
at any time
Page 2 - pdf https://minedocs.com/17/MGXMineralsInc_MDA_Q4_2018.pdf
AUG 02 2017 MGX Minerals Inc. (
DB:1MG) entered into an agreement to acquire a 90% interest in the REN Mineral Claims for CAD
0.6 million on August 2, 2017.
https://www.marketscreener.com/quote/stock/MGX-MINERALS-INC-33624619/news/MGX-Minerals-Inc-DB-1MG-completed-the-acquisition-of-90-interest-in-the-REN-Mineral-Claims-for-C-34595619/
1- Deutsche Bank ( DB ) (
why not tsx ) ??? Deutche interest in, Niobium ?
2- press stares $600,000k was issued paid vs $192,000k on Aug 02 in pdf
3- Aug 02 2017 stock price $0.74 / $0.75 cents x 600k shares = $450k
VANCOUVER, British Columbia, Dec. 27, 2018 (GLOBE NEWSWIRE) --
MGX Minerals Inc. (“MGX” or the “Company”) (
CSE: XMG /
FKT: 1MG /
OTCQB: MGXMF) is pleased to provide an update for its REN Niobium-Tantalum-Titanium-REE Mineral Property (“Ren” or the “Property”) located in the northern
Monashee Mountains of southeastern British Columbia.
Side note - what other company held niobium claims ?
SRE ( zim )
But first, let's analyze the MGX REN core boxes...
What alpa symbols are clearly seen ?
SRE ?
MGX PHOTO
https://www.globenewswire.com/en/news-release/2018/12/27/1678386/0/en/MGX-Minerals-Drills-44-Meters-of-1700ppm-Niobium-at-REN-Niobium-Tantalum-Titanium-REE-Project.html
SRE = Savillie Resources
Savillie has been perforiming 75% $5 million " earn in " for Quebec niobium claims.
From who ? Commerce Resources.
So why do the REN core boxes say, SRE ?
REN Tantalum-Niobium
MGX has sold its REN Tantalum-Niobium project to North American Carbonatite Exploration Pty. Ltd. for $140,000 AUS minus outstanding property payments passed due, pursuant to a purchase and sale agreement dated March 9, 2023.
MGX did earn 90% with earn in and approx paid;
$200k or more, drilling and carry costs
$ 33k inital
$450k ( 600k shares )
=$683k
REN = Niobium + Tantalum
SRE = Niobium + Tantalum
lol
Nothing to see here.
Just interesting comparisons, eh ?
Learning lots...
about junior's, handlers ( capital companies ), exchanges.
How cheesy for cse to not keep us trading and now passed off to, USA.
I have a whole new opinion of capital companies handling many juniors
with a repetoire of claims to draw from from geological service companies,
each looking for multiple successes...while shareholders haven't a clue.
So, Stan....
what did your google search find ?
Whose name holds Driftwood ?
How about Tillicum ?
Silica ?