Speaking of washouts (just a question)The signing payment of $500,000 is to be divided into two payments, with the second half payable in 6 months time That is from the april 1 news release.
The total payments by Korean partners to the "Lucky Ship" molybdenum project will then be $5.0 million dollars, inclusive of private placements. Following the subsequent completion by the Korean partners of the junior financing needed for all reasonably estimated exploration costs to provide the information necessary to produce a bankable feasibility study in accordance with National Instrument 43-101 the Korean partners will be entitled to an option to 51% of the shares of the joint venture company and Nanika will hold 49%. This financing is to be completed within 24 months of the signing of the Joint Venture Agreement.
Are the Koreans being held in default,or have they come up with the cash? The due date for 250,000 was the 30 sept. If they hold true to form extend to oct 30 By my calculations they have 6 months from now to produce a bankable feasibility study in accordance with National Instrument 43-101 .
They are very hard to pin down but shouldn't they sh.. or get off the pot? I do understand moly is 14.00 but 18 months from now it will be over 20 with the recovery .Others are sniffing around ?
On the gold prospect wouldn't it be interesting if Nanika drilled the property this year? I wonder if that could happen .
If the Dec/Mtn hole # 9 is in line with the newly aquired property ,wouldn't it make it worth while to try drilling sooner rather than later?
Just unanswered questions