RE: BINGO...Don't agree with that at all. This is what I wanted to see:
Effective on August 4, 2008, the Board of Directors of Douglas Lake Minerals Inc. (the "Company") ratified, confirmed and approved a Joint Venture Agreement (the "Agreement") entered into on June 30, 2008 with Mkuvia Maita ("Mr. Maita"), the registered holder of certain prospecting licenses (the "Prospecing Licenses") over certain areas referred to as the "Mbwemkuru" project located in the Liwale and Nachigwea Districts of Tanzania. Pursuant to the Agreement, the Company has the right to enter, sample, drill, explore, and mine for minerals on the property underlying the Prospecting Licenses as granted by the Government of Tanzania under the Mining Act of 1998 and any other rights covered by the Prospecting Licenses, subject to a perpetual net smelter royalty return of 3% payable to Mr. Maita. In consideration, the Company has made payment to Mr. Maita of US$1,000,000 and agrees to make further payments of US$540,000 over five years, on a quarterly basis in the following amounts per year:
....yada...yada...yada.
As it stands, the 8K means absolutely nothing insofar as the property acquisition goes.