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Freeport Resources Inc V.FRI

Alternate Symbol(s):  FEERF

Freeport Resources Inc. is a Canada-based junior mineral exploration company. The Company is engaged in the exploration of mineral properties. The Company operates through one geographical segment: Papua New Guinea. The Company’s projects are Star Mountain Property, and Yandera Copper Project. Star Mountains Property copper and gold porphyry project in Papua New Guinea (PNG) comprising four tenements located 25km east of the giant Ok Tedi mine. The Yandera Copper Project deposit is located approximately 95 kilometers (Km) southwest of the city of Madang, within the Bismark Mountain Range in PNG. The Company’s subsidiaries include Quidum Resources Inc, Highlands Pacific Resources Ltd., Carpo Resources Inc., Era Resources Inc., Marengo Mining (Australia) Pty Limited, Yandera Mining Company (Holdings) Pty Limited and Yandera Mining Company Limited.


TSXV:FRI - Post by User

Bullboard Posts
Post by GenHandgrenadeon Feb 05, 2015 3:41pm
97 Views
Post# 23400965

Doesn't FRI have a claim against the BC Govrnment?

Doesn't FRI have a claim against the BC Govrnment?If I recall correctly the BC Gov. confiscated an FRI property (Tisrku?). Perhaps FRI should step up efforts to get a settlement (at least money spent adjusted for inflation) from the BC Government. Could use the proceeds to fund Hutton. Time to kick that into high gear perhaps. See below. Cline Mining Corp. (TSX: T.CMK, Stock Forum) said Monday it has reached a settlement agreement with the Province of British Columbia under which the company has agreed to abandon certain coal licences as well as certain coal applications in return for the payment of $9.8 million in cash. The agreement is a final settlement of claims Cline had outstanding against the Province of British Columbia. The company is currently operating under forbearance agreements with its senior lenders, which expire on the earlier (i) April 30, 2014 and (ii) the occurrence of a Forbearance Termination Event as such term is defined therein. The use of proceeds from the settlement referenced above is subject to the terms of the forbearance agreements and the underlying indentures to which they relate.
Bullboard Posts