RE: Sp in chainsThere should to be no issues with claim ownership as this property is in Nfld where to even be exploring, the licensing process would have this all cleared up. This property has a nice history where MOA has demonstrated by such things as JV'ing with MAR that this would not be the case...MAR would not be committing to the $ millions for earn-in without full DD. In fact if you look at the new property maps, it can be seen the MAR/MOA have locked up all the interesting additional claims joining onto the original property and have perhaps doubled the original size....
Yes the obligations do need to be met. MAR needs to complete $3MM in property expenditures. I believe they were given 3 years to do this, but in fact their aggressively successful approach likely will have them spending this in less that 12 months. The only other obligation of significance before MOA and MAR share this 50/50 is for MAR to make a $3MM cash payment to RIC. This also has a 3 or 4 year time line. With the value being added to Valentine Lake property, no doubt this payment will get made. It will also likely happen much sooner than required since until this is done, MOA is not obligated to share in future cost requirements once the MAR drilling dollars(first $3MM) are spent. If MAR wants MOA to kick in 50% worth, RIC first has to be completely bought out for the $3MM cash payment...Seems all very clear cut.
Why is the price not much higher? It will come as investors, especially new ones, discover how undervalued this project it.....C.Gert