RE: The Teck news release concerns/mis-interpretatCEO,
You raise a good question.
I don't see any mention of Mulgravian taking an option on Marudi Mtn/Paint project. In fact, at least one press release states the option agreements with Mulgravian on other properties allows SMH to focus on its flagship Marudi Mtn project.
Teck has right of first refusal on the B properties and I guess "B" signifies very grass roots level of exploration. Teck also has first right of refusal on properties that Mulgravian has optioned, if Mulgravian returns the option. But, if Mulgravian doesn't want a property, what are the chances Teck will want it. I assume Teck is only interested in large scale projects.
This might not be everything, but Mulgravian has . . .
60% of Black Banana
51% of Guyana Shield (Whana, Arawini, Aunama, and Masawaki, Yearwood claims, Reis Claims)
51% of Five Star
51% of Sardine
In regards to Marudi . . .
"On August 21, 2008, and amended December 30, 2008, the Company signed an agreement with REXMA Participations (“REXMA”) which will allow REXMA to mine gold from the alluvial material on the Marudi Mountain Gold Project. The agreement provides for an initial contract period of six years, with one six year renewal option at the Company’s discretion. Under the terms of the agreement, REXMA will be responsible for all its costs and will pay a 10% royalty on all mineral production to the Company. All of REXMA’s capital and operating expenditures qualify as earn-in expenditures for Shoreham."