interesting stuff again about CAJ - Kinross and AlCANASIA INDUSTRIES CORPORATION ("CAJ")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: September 14, 2009
TSX Venture Tier 2 Company
TSXVenture Exchange has accepted for filing documentation pertaining to aProperty Option Agreement between Canasia Industries Corporation (the"Company") and an arm's length party (the "Vendor"), whereby theCompany has to option to acquire up to a 100% interest in 73,728hectares of contiguous mineral claims located in West-Central Albertafrom the Vendor. In consideration, the Company will pay a total of$75,000 and issue 6,000,000 shares to the Vendor and must complete$500,000 in exploration expenditures on the mineral claims, all over atwo year period.
The property is subject to a 3% NSR, 1% of which may be purchased by the Company for $1,000,000.
https://infoventure.tsx.com/TSXVenture/TSXVentureHttpController?GetPage=NoticesContents&PO_ID=16060&NOTICE_ID=142916&CORRECTION_FLG=N&HC_FLAG1=checked
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more properties? They have gold, copper, coal, potash, etc. Now what? Oil and Gas in Alberta? Not far enough north to look for kimberlite but you never know!
I more curious about the Kinross drilling. I know they had an option for 50% of the Debut property in 2006. Then in July 29.2008 they announced an option to buy 100%. All of a sudden they own 100% in Septembe
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September 9, 2008
Canasia and Kinross Gold Enter Into Mineral Agreement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 9, 2008) - Canasia Industries
Corporation (TSX VENTURE:CAJ) (OTCBB:CANSF) (FRANKFURT:45C) (Canasia) wishes
to announce that it has signed a Mineral Lease-Letter of Agreement
("Agreement") with Kinross Gold USA (Kinross) covering Canasia's recently
acquired 100% owned Debut Gold Property, located in Elko County, Nevada
(announced July 29, 2008) . The Agreement calls for Kinross to make advance
royalty payments of $40,000 US on signing a formal Mineral Lease Agreement on
or before September 18, 2008, $25,000 US on or before December 31, 2009,
$50,000 US on or before December 31, 2010 and 2011 and $100,000 US annually
thereafter during the term of the agreement, which shall be for fifteen (15)
years with the option to renew for a further fifteen (15) years . Kinross shall
pay Canasia a 2.0% Net Smelter Return royalty on all ores and minerals mined
and produced from the property. Kinross shall spend a minimum of $3,000,000 US
in exploration expenditures on, or within 1 mile of the property, during the
first six years of the agreement
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What is the real deal with Kinross? Every joint venture results in giving up some percentage of the property. Does Kinross own 100% and is just paying a royalty to CAJ? >
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