RE: TKK Troubles >>>>TKK is just a shell holding shares in Claude Resources now.<<<<
.
The rest of the paragraph in news release is interesting....
.
It is therefore expected that Takara and Alicanto shall execute the share purchase agreement no later than December 14, 2012, unless extended by mutual agreement of both parties. The Company continues to hold interest in Canadian mineral projects, as well as investments in marketable securities comprised of 393,400 shares of Claude Resources Inc. During the third quarter ended September 30, 2012, the Company sold 1,500,000 shares of Satori Resources Inc. that were being held as marketable securities, for total gross proceeds of $45,000 (at market, $0.03 per share). Two directors of the Company purchased 1,100,000 of the Satori shares. Upon completion of the sale of StrataGold, it is contemplated that the Company will have approximately $740,000 in cash and marketable securities and accordingly, it will continue to assess opportunities in the resource sector.
.
Hmmm, let's see....
Sept 30, 2012 - BUD.v had $436,000 cash with a 9-month burn rate of $747,000 and a 3-month burn rate of $158,000.
.
Hmmm, whick is the better capitalized company?
.
From BUD.v's FS - Subsequent Events [November 29, 2012]
.
On November 13, 2012, the Company announced that the Offering would now consist of 10,000,000 Units at $0.05 per unit, for gross proceeds of $500,000 and would be completed under the TSX Venture Exchange’s regular policies for private placements. The terms of the Warrants were amended to allow the holder to acquire one full common share at a price of $0.10 at any time until the expiry three years from issuance. The terms of the Finder Warrants were also amended to allow the holder to acquire an additional common share at an exercise price of $0.10 at any time within 15 months of the closing of the Offering.
As of the date of these unaudited condensed interim financial statements, the Offering had not yet closed.
.
ie - no money raised....I thought were were gunna process tailings and be making money this past summer? That is what everyone was banking on.