OTCPK:CTNXF - Post by User
Comment by
chartroomon Nov 26, 2006 2:43pm
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Post# 11752162
RE: CGP is gonna own 50% of CPP??. enniwt52
RE: CGP is gonna own 50% of CPP??. enniwt5210%+40% = 55%?? Please point out my mistake...
| Coastport Capital Inc. (TSX VENTURE:CPP) (FWB:C1J) has an option to earn a 70% interest in the La Plata property by meeting all of Cornerstone's obligations to a 3rd party through to mine financing, by issuing Coastport shares to Cornerstone representing 10% of its fully diluted share capitalization, and by granting Cornerstone a 2% net smelter return royalty (NSR) in the project. |
Coastport also has the right to earn a 100% interest in Cornerstone's Shyri Project in Ecuador by spending US$8 million on exploration, paying Cornerstone US$490,000 cash, issuing shares equivalent to US$490,000 over 4 years, and, to fully vest, by issuing to Cornerstone 40% of its fully diluted share capitalization. |