RE:RE:RE:ICG sells nearly half of it's Eastmain shares skyh10
Just putting this out there.
With only monetizing $5.25 million of their $16 million in “marketable securities" then it can also be,,,,,, an opportunity came along that justified dipping into that reserve fund.
I know Eric Owens was in touch with Integra in regards to the Air Port property and through Herve Thiboutot worked out a winter drill program consisting of short holes in close proximity to Integra’s Triangle Zone. The drill results came back with a little smoke but no big hits. It’s going to take a few million to drilling some deep holes that Alexandria does not have.
So this $5.25 million could have something to do with an opportunity to buy the rest of Alexandria’s Airport property.
Kalahari optioned part of the Airport Property in 2009 .
The optioned ground contain the extension of the Triangle Magnetic, or T-8, anomaly, a high priority gold target for the Company. This is now all part of the mammoth Triangle Zone.
Here are the terms of agreement from the last Airport purchase from Alexandria.
Link> https://www.integragold.com/s/news_releases.asp?ReportID=371810
“The terms of the agreement with Kalahari for the Airport claim include a payments totalling of $25,000 cash to Alexandria and the issuance of 500,000 Kalahari shares to Alexandria over a period of twelve months, as well as incurring $35,000 in exploration expenditures over a period of 24 months. Alexandria retains a 2% NSR, one half of which may be purchased for $1,000,000.
The optioned claim is part of Alexandria's Airport property, which forms the westernmost property in the Alexandria's extensive Cadillac Break Property Group, where Alexandria recently announced a National Instrument 43-101 compliant resource estimate at its”
I would think it would take about $5 million to buy the rest of the Airport property after Integra discovered over a Billion $$$ worth of gold there !
Time will Tell
M2