UP DATE TO Cline Mineing’s gold mine.
https://www.strikeminerals.com/pdf/STKMDA120430.pdf
Edwards Mine Property and Adjoining Claims
The Company owns 80 unpatented claim units in the Goudreau Lake Deformation Zone (GLDZ),
Jacobson Township, Ontario. 77 are 100% owned by Strike. The three claim units that are called the
Edwards Mine are owned 87.5% by Strike and 12.5% by Cline Mining Corp.
Subsequent to April 30, 2012, the Company exercised its dilution right under the terms of the its joint
venture agreement with Cline Mining Inc. ("Cline"), due to a failure to pay its proportionate share of
expenditures. As a result, Cline's interest in the Edwards Mine property was diluted to 2.5% from 12.5%.
Cline has indicated that they may dispute this dilution and nothing has been formally received with
respect to this matter. Under the lending Agreement with Waterton, the Company is required to first offer
this additional interest to Waterton subject to certain terms and conditions. Documentation for this offer is
currently being prepared.
(1)Now how much does cline own of the iron mine????
(2)Sold the Mine site up in northern B.C.
(3)Trying to make a clam for the posed mine in the around Sparwood B.C. that is now a National Park.
(4) Cline’s Mining wealth seems to getting smaller by the day, Lets hope Cline can hang in there till the market turns around and coal sales start to come in again.
tinyhopes