RE:RE:RE:here pics of land layout and drill holes not reportedIdle: Let them update Fenn Gib. If Barrick wants 51% they will have to pay at least
$120 million to Lake Shore Gold and then Lake Shore still KEEPS 49%.
What is Tony waiting for. This needs some immediate attention.
Low oil prices have brought this front and center.
From the news release:
"Under the terms of the agreement, Lake Shore is paying C$60 million of shares to Barrick and other parties, equivalent to roughly 14.9 million common stock. Following the close of the deal, Barrick will own nearly 4% of Lake Shore.
If a resource of at least 5 million ounces is established at Fenn-Gib, then Barrick will have the right to re-purchase a 51% interest in the property, and become the project's operator, by paying Lake Shore two times its total investment."