RE: RE: RE: PGOL! Actually....great call on this as PGOL is HIGHLY relevant to CSQ....they own the property outright! CSQ has to earn into it to take a max of 75%....they have to take it to feasability to do so and spend $6MM. PGOL gets a free ride and 25% ownership on this bad boy and puts up no dough! How much of CSQ's market cap and movement is due to the Bruner discovery? Well, PGOL has less than a $5MM market cap....if CSQ is worth $40MM.....what's PGOL worth owning a quarter of the project with no cost? $10-20MM now is fair value and goes higher with CSQ from here.....this is like buying a call option on CSQ....plus they have a 500k ounce 43-101 project called Moss in Arizona and are farming out the cost there as well.....this thing could just be plain undiscovered and rocket from here.
Patriot Gold's Option To Canamex
Through its subsidiary Provex Resources, Patriot Gold owns 100% undivided rights, title and interest in the project and in May 2010 entered into an agreement with Canamex Resources Corp., the optionee, (CSQ:TSX.V) ("Canamex") to develop the property. Under the agreement, Canamex has the right to earn 70% interest in the Bruner project by spending $6 million over seven years and may earn an additional 5% by completing a bankable feasibility study for a total of 75% interest in the project.