RE: RE: TNR - NovaGold transaction proves a lotThis is good debate...thanks for that but not convinced you earned your money for the day as there was never any exchanged (just shares)
TNR used shared to purchase Shot Gun. No dollars exchanged, which TNR needs right now.
That is like the us gov printing trillions of more dollars to buy their way out of debt. TNR does that with dilution of shares.
Care to go 2 for 2 with comments on the following subsequent Events in the financial statement?
18. SUBSEQUENT EVENTS
Termination of Mud Lake Agreement
On October 24, 2010, the Company was unable to fulfill its earn-in requirements pursuant to the Mud Lake option
agreement. Accordingly, the Company wrote-off the Mud Lake property acquisition and deferred exploration costs
incurred to date.
Acquisition of Shotgun Claims
On October 28, 2010, the Company issued 6,000,000 common shares and 3,000,000 share purchase warrants to
NovaGold Resources Alaska, Inc. pursuant to the September 28, 2010 purchase agreement to acquire the remaining
50% interest of the Shotgun claims.
Moose Project Property Payment
During October 2010, the Company paid G & S Trading Inc. the remaining $15,000 owing for the Moose project
option agreement.
El Tapau Property Payment
The optionors have agreed to honour the El Tapau property option agreement notwithstanding the overdue US$20,000 obligation due on November 1, 2010.
Just remember I am still an investor in this puppy too. Just a discouraged one as it is not adding up. No news from the company leads to speculation!!!
I hope there is news soon as well.
Thanks for the rebuttle
Broke out