GREY:ELCGF - Post by User
Comment by
labrador6on Jan 26, 2018 4:43pm
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Post# 27444300
RE:Old inventory
RE:Old inventoryNovember 2016 Formation of the joint venture (Vancouver Jade) with Quartz Creek and Dean Cloutier. ''ELt will contribute 200 000kg of jade''
January 2017 ELT closes Placement. ''Proceeds of the private placement will be used for costs associated with the purchase... of nephrite jade''
Thus, we can presume that ELT supplied 200 000 kg of jade to Vancouver Jade. On the other hand, when we sold our rights in VJ to Quartz Creek for $186 000 would it be possible that included the repayment of the supplied jade? If yes, it means that we shall not benefit to the 50% profits in the sale's products. And moreover, Quartz Creek does not need us to have jade given that it possesses itself jade's properties to be exploited.