OTCPK:STADF - Post by User
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RegAcceson Mar 22, 2013 2:08pm
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Post# 21263262
SLD payout formula
SLD payout formula One year ago --
TORONTO (miningweekly.com) – Against a backdrop of simmering tensions between aboriginal communities and exploration companies in Ontario, the government announced on Thursday it reached a C$3.5-million settlement with God’s Lake Resources, whereby the company agreed to cede its claims over a contentious area.
The move evokes memories of the 2008 stand-off between the Kitchenuhmaykoosib Inninuwug (KI) First Nation north of Red Lake, government and a junior called Platinex, which saw the company receiving a similar $5-million payment.
“The government, it seems, has capitulated and has expropriated these claims and compensated God’s Lake for that,” Fasken Martineau DuMoulin lawyer Neal Smitheman said in an interview.
Now consider this:
Platinex $5M divided by the number of claims (302) = $16,556.00 per claim
God's Lake 3.5M divided by the number of claims (202) = $17,326.73 per claim
Solid Gold has 1,428 claims X $17,326.73 = $24,742,570.00
https://www.miningweekly.com/article/ontario-junior-gets-c35-million-settlement-to-cede-controversial-claims-2012-03-30