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Focus Graphite Inc V.FMS.WT


Primary Symbol: V.FMS Alternate Symbol(s):  FCSMF

Focus Graphite Inc. is a Canada-based advanced exploration company, which is focused on developing high grade flake graphite deposits to supply battery grade graphite. The Company's projects include Lac Knife and Lac Tetepisca. Its flagship Lac Knife Project is a 100% owned, high-grade crystalline flake graphite deposit located in northeastern Quebec, about 27 kilometers (kms) south of Fermont. The Lac Knife project is comprised of the Lac Knife property plus an isolated block of 12 CDC claims located 11 kms to the north of the Lac Knife property on NTS sheet 23B-11 (Montagne-aux-Bouleaux property). Its 100%-owned Lac Tetepisca Graphite Project is located in the Southwest Manicouagan reservoir area of the Cote-Nord region of Quebec, one of North America's leading emerging flake graphite districts. It comprises two contiguous properties, Lac Tetepisca and Lac Tetepisca Nord. Together, the two properties form a block of approximately 126 map-designated claims (total area: 6,785.14 ha).


TSXV:FMS - Post by User

Bullboard Posts
Post by scissors14on Apr 06, 2012 4:18pm
329 Views
Post# 19767411

Labrador Trough Properties:

Labrador Trough Properties:
So Everton (run by Economo et al) got 6M shares of Class A Focus shares for taking over Everton properties and then wrote off $73K+ of the properties three months later (for which they received 1,218,400 shares @ .06).  Interesting. 
 
Labrador Trough
 
On March 30, 2009 and as amended on May 22, 2009, December 11, 2009, March 25, 2010 and April 30, 2010, the Company signed an acquisition agreement with Everton Resources Inc. (“Everton”) to acquire a 100% interest in 13 properties (“Labrador Trough”) in the Labrador Trough region of Quebec: Romer, Canyon, Colombet, Diana, Fox, Goose, Jack Rabbit, Lac Aulneau, Lac Ribero, Lemming, Leopard, Minowean and Otelnuk, in consideration for the issuance of 6,000,000 Class “A” common shares of the
Company, at a price of
.06 per share. On May 21, 2010, concurrent with the listing of the Company’s securities on the Exchange, the Company completed the acquisition of the Labrador Trough properties.
 
During the year ended September 30, 2010, the Company wrote down the cost of the Labrador Trough property by $73,104 further to the expiry of certain claims. Also during the year ended September 30, 2010, the Company acquired an additional 73 mining claims via staking.
 
As at December 31, 2011, the Labrador Trough consists of 5 properties: Romer (151 claims), Minowean (14 claims), Otelnuk (12 claims), Lemming (34 claims) and Diana (9 claims), totaling 220 claims.

 

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