Shares for Debt Swap From May 2012 News Release
I wonder if this is why there has been 2 shares for debt swaps in the past years The Terms of the Lease Agreements: Poland China Minerals North LLC has paid US$5,000 to access the property until September 1, 2012, and following that, by making the following lease payments: i.US$15,000 on or before October 1, 2012 ii.US$25,000 on or before October 1, 2013 iii.US$30,000 on or before October 1, 2014 iv.US$35,000 on or before October 1, 2015 v.US$40,000 on or before October 1, 2016 and for each subsequent anniversary until purchase of the property. Minerals North LLC has the right to purchase the entire property at any time for the greater of US$7,500,000 or 200% of fair market value of surface rights only, excluding any value attributed to any minable commodities that may be deliniated. The property is subject to a 3% NSR, of which 1.0% can be purchased for US$1,000,000 and a further 1.0% can be acquired for an additional US$2,000,000. Golden Reward Minerals North LLC has paid US$20,000 to access the property until August 1, 2012, and following that, by making the following lease payments: i.US$25,000 on or before September 1, 2012 ii.US$30,000 on or before September 1, 2013 iii.US$40,000 on or before September 1, 2014 and each subsequent year until 2032 or purchase of the property. Cheers CherryCoke