Mr. Bell, CEO, was pleased with the assays and enthused Peter Bell's Kermode Resources Ltd. (KLM) lost one-quarter cent to three-quarters of a cent on 16,000 shares on assays of up to 22.4 grams of gold and 196 grams of silver per tonne from sampling at its Lightning Peak project, east of Kelowna in south-central British Columbia. (The best of the assays came from a grab sample collected from dump pile material that had been excavated from the old Morning shaft.)
Mr. Bell, CEO, was pleased with the assays and enthused with the arrangement to acquire the Lightning Peak project early this year. "Thanks to our partner on this deal, Milo Mielniczuk, I think the terms are innovative and the property is prospective." (There are no payments required and there are no spending requirements -- innovative indeed -- but should Kermode sell the property, Mr. Mielniczuk and his group retain a sales participation right of 55 per cent.) The option has a one-year term and can be extended indefinitely with mutual consent. (Essentially, Mr. Mielniczuk and his fellow travellers are hawking the property on consignment through Kermode, it appears.)