RE: RE: RE: RE: Next big story in elephant country.
Regarding El Primo:
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It's prudent for them to wait for the final environment decision regarding Greystar's Angostura
property before they allocate any additional capital or time to this project right now.
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"On April 28, 2010, the Company reported on certain developments in Colombia involving
new Mining regulations that could affect mining exploration activity contemplated for its Norte
de Santander property. To date the Company has advanced US$100,000 to South American
Exploration & Finance, S.A.S., and the final payment is not due until September 30, 2010.
Given he recent uncertainty in the area, it was mutually agreed that the 6 Million Shares payable
under the definitive agreement will not be issued until a decision has been made by the Ministry
of the Environment, Housing and Territorial Development (MAVDT) with regard to exploration
ctivity. In addition the 700,000 finder shares payable to Bear Trade Corporation will not be
issued."
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Source: MD&A, September 24, 2010 @ sedar.com
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Regarding El Tesoro:
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They entered into an ambitious binding Letter of Intent with kilter. I strongly believe this former
mine could be a company maker project, further they have the crucial local support there.
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As well the management want to make further acquisitions in 2011 and plan to expand their land
package in Colombia. Currently they analyze potential acquisitions with hectares of highly-prospective
round areas of historical gold production.