$1,461,383.04Hello
I have looked back at the posts and havent seen this posted anywhere on the board. I apologize in advance if it was previously posted.
It could be the reason for the recent lil run up on the share price. the shares issued are currently trading at .48 cents per share. With the shares and cash brings the total consideration to 1,461,383.04.
Prophecy Resource Corp. (TSX.V: PCY) is pleased to announce that, further to its news release dated October 21, 2009, it has received TSX Venture Exchange approval to the terms of an option agreement with Victory Nickel Inc. (TSX.T: NI) whereby Prophecy has the right to acquire a 100% interest in the Lynn Lake Nickel-Copper Project located in Manitoba, Canada. Under the terms of the option agreement, Prophecy has issued 2,419,548 shares in its capital and has paid cash consideration to date of $300,000 to Victory.
The Lynn Lake Project is located in the historic mining town of Lynn Lake in northern Manitoba, about 320 kilometres by road access northwest of the Thompson mining camp. The property is the former Sherritt Gordon Mines Limited mine site known as the Lynn Lake A mine and Farley mine, comprised of 30 mineral leases covering an area of 590 hectares. The property was operated by Sherritt Gordon from 1953 to 1976 for a total of 24 years, with reported production of 22.2 million tons at an average grade of 1.023% nickel and 0.535% copper.
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PCY7/24/2009
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Have a good day
Moneydaze