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TomaGold Corp V.LOT

Alternate Symbol(s):  TOGOF

TomaGold Corporation is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. The Company is focused on consolidating the Chibougamau Mining Camp in northern Quebec. In addition to the agreements to acquire 13 properties in the camp, the Company holds interests in five gold properties in the vicinity of the camp: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake. It also owns a 100% interest in a lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec, as well as a 24.5% interest in the Baird property, located near the Red Lake mining camp in Ontario through a joint venture with Evolution Mining Ltd. and New Gold Inc. The Obalski property consists of about 74 claims covering a total of 2,740 hectares (ha) and lies three kilometers (km) south of Chibougamau, Quebec.


TSXV:LOT - Post by User

Bullboard Posts
Comment by 12manyon Mar 07, 2013 3:58am
240 Views
Post# 21092259

RE: QIT VS LOT

RE: QIT VS LOT

I see these identical posts are on both boards sort of like a dog and pony show. If you want the real answer then just read the news releases. Basically  QIT has to  hand over $350000 and 1 million shares and spend 6 million in the next 4 years in order to obtain 50%, in order to get the other 20% they have to spend another 4 million or do a feasibility study. So LOT will not have to spend any of their cash on hand or raise $$ to fund this project. Also LOT owns 100% interest in 2 adjacent properties to the Monster Lake property as well as other properties at Urban Lake and Vassan. Consider the fact that QIT will have to dilute at some point in the game and before this all happened it was only a shell. I would check the credibility of the responder by seeing if they do open on Thursday as the poster has mentioned, my bet is on Friday.

 

Bullboard Posts