RE: EIS correct me if I am wrongMacloud1
Location: -Mendoza, Argentina –Excellent Infrastructure, Large Land Position
Resource:-M&I Resources, at 0.30%CuT cut off of 2,050,979,000lbs Cu + 1,257,000ozs Au
OVERVIEW
Status:-EIS Approval Expected Q110 –DFS Commencement thereafter –Production 2013
The payment due for San Jorge isn't untill May 2010. I guess I shouldn't rely on my memory since it isn't that good. I guess if I had a fat head like Arny, I probably could remember more stuff. Arny's head is just like an open pit mine. The larger it is the more resources it has. See Arny, it good to have a fat head.
Here's the copy & paste of the payments.
Coro is further pleased to announce that has entered into an amending agreement with Lumina Copper Corp. ("Lumina") to amend the option payment schedule for the San Jorge copper project. Under the original terms, Coro was to make option payments to purchase the San Jorge project in the amount of US$16.5 million less the aggregated deemed share price of 1,000,000 Coro shares previously issued to Lumina, in two equal payments in December 2009 and December 2010. Under the amended terms, Coro will now pay US
.5 million in May 2009; US$2.0 million in May 2010; US$4.0 million in May 2011; US$5.0 million in May 2012; and US$5.0 million in May 2013, less the aggregate deemed value of the 1,000,000 common shares previously issued. Coro has agreed to pay Lumina a net smelter return production royalty of 1.5% on all products other than copper, produced at the San Jorge projectMy melooked up the payments for Cor