OTCQB:FGPHF - Post by User
Comment by
ginagirl11on Nov 28, 2013 11:38am
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Post# 21950033
RE:Info received on Vale property attained on only payment of taxes
RE:Info received on Vale property attained on only payment of taxesI was waiting for the sky is falling poster to finish. If you remember I posted this from a management response on the aquisition of the Santiago property. Looks now to be a steller aquisitoion for very little.
"Vale had lost the property because of failing to submit their annual report and payment to the DNPM (Brazils National Mining Agency). Once they had lost it our Brazilian partner who we have the original agreement with on the Bomfim property claimed it and added it to our original Bomfim agreement. Therefore we are only responsible for the annual taxes on the property. Vale fought very hard to get this ruling over turned but with no luck, good for Eagle Star and it's shareholders!"