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Encore Renaissance Resources Corp V.EZ



TSXV:EZ - Post by User

Comment by profiteer2on Jan 11, 2011 10:53am
357 Views
Post# 17953356

RE: Arms-Length...

RE: Arms-Length...So let me get this straight... Abi goes to Tanzania to hook up with Sidon International. Sidon gets the mining rights to this Handeni East land package (assumably from the Tanzanian government) for an undisclosed amount of money. Then Abi's former company, EZ is hit up with the money to explore the property for 50% of the possible mineral value of the property. Furthermore, Sidon gets 20,000,000 shares and it appears that Abi may get a finders fee. Interestingly, Abi just pulled the same stunt in Sidon as he did in CGW for those who remember it. He is putting $1M of his own money into the company to support drilling in for $250K tranches. Anyone wondering maybe where this money is coming from. This looks like a pretty sweet deal to me for both Sidon and Abi...not so much for EZ. In the meantime, shares are flying off the shelf in EZ where the price can't rise because new orders are placed to sell as soon as the ask goes to 7 cents or higher. Pretty consistent trend here. Something smells really bad here!

Profiteer.  
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