RE: company updateI thought their 29,4% interest in the Kansas claim and the 49% interest in the rest of the Silver Coin project is a
undivided interest and can`t be diluted by property expenditures. Am I correct?
From the annual financial statement:
By an agreement dated July 29, 2004, the Company granted another company (PNL) the option to earn up to 51% of the Company’s interest in the Silver Coin, FR and Indi properties by incurring $1,750,000 on exploration expenditures (incurred).
The Company and the optionee have agreed to form a joint venture for further development of the properties. In addition, the optionee has the right to earn an additional 9% interest in the properties by bringing one of the properties into production. Under the terms of the option agreement, if either the Company or the optionee acquires properties within 10 km of the Silver Coin properties, such additional properties will be part of the joint venture.
But a little IR could really help to boost the share price. Drilling maps would be great..... ;)