RE: Tara - ParamountWelcome dau2006, where are you from?
Anyways, Paramount already paid Tara $250.000 to purchase a 25% interest in Dec, 2005. So far they own a 25% interest.
Now to earn a 35% interest, Paramount must pay Tara an additional $100,000.
Paramount also must make a $50,000 yearly payment to Tara.
For Paramount to increase its interest to 55%, then Paramount must spend $1million on explorationa and development and issue to Tara 700,000 of its restricted shares.
Paramount may increase its interest to 70% by spending an additional $1.5million over and above the $1million within 30 months and through the issuance of an additional 200,000 shares.
Paramount can process the ore at Tara's La Curita Mill and pay a proessing fee for milling costs/ton plus a 10% of net smelter fee and any revenues will be divided between Paramount and Tara.
Now what I'm trying to find out if Paramount owns more than 25% interest of the San Miguel properties. Can anyone verify?
This is what I read from the press releases and sec files.
Take care.