TSXV:PHNM - Post Discussion
Post by
TyDaum on Jun 03, 2024 10:44am
NAIVE AND GULLIBLE?
Someone been keeping thier eyes on something for many years... but for some strange reason they have to find a Vender MIDDLEMAN to complete a transaction for them? What kind of Director is that?
Funny he doesn't want anyone to know just who this VENDOR is
Dave Mathewson, company director, geological consultant and accomplished gold finder, states: "Phenom is only going after gold projects in Nevada that have regional-scale targets. I have had my attention on this prospect for many years King Solomon transaction
The company has signed a four-year option agreement with a private vendor pursuant to which it may acquire a 100-per-cent interest in 178 unpatented mining claims located in Nevada, commonly referred to as the King Solomon property. Pursuant to the King Solomon option agreement, in order to fully exercise its option and acquire the property, over a four-year period, the company will pay an aggregate of $150,000 (U.S.) and make share issuance of 75,000 shares in the company. The vendor will also retain an aggregate 3-per-cent net smelter return royalty on any mineral products derived from the property. Phenom will have the right to purchase up to a 2-per-cent NSR for $3-million (U.S.) at any time, leaving the vendors with a 1-per-cent NSR. Advanced royalty payments will be required thereafter under a schedule of $60,000 (U.S.) per year from years 5 to 10, $75,000 (U.S.) per year from years 11 to 15 and $100,000 (U.S.) per year thereafter until production. Any additional claims staked within an area of interest around the current property would fall under the terms of the agreement.
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