RE:RE:RE:RE:Reply from Heather@williamscreekrd - Ya, you're totally right. Iron Creek will be a massive challenge. FCC management, with their literally hundreds of years of combined mining experience, completely ignored the project location details and the impossibly small hoops that will need to be jumped through when they agreed to spend $150M on a worthless piece of land. Why, just look at google maps!
You can't fix stupid.
Oh, and Chester Mining Company is who the land is leased from. I've posted the lease details below from USCO's (formerly STM) Sep 7/16 announcement. Now seriously, run along now.
"Under the terms of the lease agreement, STM has paid Chester Mining Company (the “Vendor”) (OTC: CHMN) the sum of US$45,000 and the Vendor has retained a 4% net smelter return (“NSR”) in the Property. STM has agreed to pay the Vendor advance royalty payments on the NSR of US$3,000 per month for the first two years of the lease agreement, increasing to US$4,000 per month for the subsequent two years, and US$5,000 per month for subsequent years. At any time during the term of the lease, STM shall have the right to purchase a 100% interest in the Property and reduce the NSR held by the Vendor from 4% to 1%, all for consideration of a cash payment US$1,500,000. The NSR may subsequently be purchased by STM for a cash payment of US$500,000 for every 1% NSR elected to be acquired by STM. In connection with this transaction, a cash finder’s fee shall be payable to an arm’s length party in accordance with the policies of the TSX Venture Exchange"