Mammoth Resources Corp V.MTH

Alternate Symbol(s): MMMRF

Mammoth Resources Corp. is a Canada-based precious metal mineral exploration company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company holds a 100% interest (subject to a 2% net smelter royalty purchasable anytime within two years from commencement of commercial production) in the 5,333-hectare Tenoriba gold property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. The Tenoriba property is comprised of four concessions: Mapy, Mapy 2, Mapy 3 and Fernanda. It is seeking other opportunities to option exploration projects in the Americas on properties it deems to host above average potential for economic concentrations of precious metals mineralization.

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Mammoth Resources Corp > Tenoriba p-p-p-p-p-p-pump job

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Comment by Orderlyon Nov 18, 2020 1:36am

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Post# 31920365

RE:RE:RE:RE:Tenoriba p-p-p-p-p-p-pump job

Actually, Yale Resources were unable to keep up with option payments on Tenoriba on August, 2011, see pg 27/155 here (https://www.mammothresources.ca/i/pdf/2014-02-18-Tenoriba-Property-Report-TRA.pdf), quote:

'On July 2009 Minera Alta Vista S.A de C.V., the 100% Mexican subsidiary of Yale Resources Ltd. of Vancouver, Canada signed a purchase option agreement with the Tenoriba property owners. The agreement included USD$2,000,000 in cash payments over a four year period. On August 2011, after being unable to make the first semester cash payment to the owner of the property, under the terms of the option agreement between the parties due to the challenges in raising equity capital in the North American equity market, Minera Alta Vista was forced to return the property to the owners.'

The current management (including the Geo and CEO) were not appointed until later (CEO, Thomas Atkins on April 12, 2012) afterwhich Mammoth signed an option agreement for Mammoth in July 2012. Perhaps Yale was poorly managed, but it was a different company to Mammoth, and further a different management team.