FPX holds 2.4 mil shares of AQA
2.4 mil shares of AQA is 2.4 mil X $1.86=4.5 mil
the cap of FPX is 7.3 mil
the AQA holding is 62% of FPX's cap!or 0.093 a share
so you are actually buying FPX for 0.057 a share!!
Shows you how undervalued FPX is!
First Point's interest in Aquila Resources Corp.
First Point has entered into an agreement with Menominee River Exploration Co. LLC, a private company based in Michigan, ("MREC") for the purposes of advancing First Point's Cedros property in Honduras, and MREC's Back Forty property in Menominee County in the Upper Peninsula of Michigan.
Pursuant to the terms of the agreement, First Point and its wholly-owned subsidiary, First Point Honduras S.A. de C.V. will contribute the Cedros property to Aquila Resources Corp., a company recently incorporated under the Canada Business Corporations Act ("Aquila"), and MREC will contribute the Back Forty property. Aquila's principal focus will be on zinc and copper deposits with commercially important gold and/or silver credits. Other classes of deposits, such as nickel with associated platinum group metals, will also be targeted. Initially, First Point holds 2.4 million shares in Aquila. First Point intends to hold this as an investment and does not plan to contribute to further financing. Aquila is merging with JML Resources Ltd. in order to go public and advance the Back Forty. Details can be found on the JML website at www.jmlresources.com.