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Providence Gold Mines Inc V.PHD

Alternate Symbol(s):  PRRVF

Providence Gold Mines Inc. is a Canada-based mineral exploration company. The Company is engaged in the process of exploring and evaluating its mineral property located in California, United States. It owns 100% interest in Tuolumne Property. The Company’s gold mines consist of seven patented stake mineral claims and 22 located claims, encompassing an area of approximately 324 acres, which includes Bonita, Consuelo, FairPlay, Good Enough, McCarthy, Mexican, and Providence. The Providence Group of Mines is located in the Summerville Mining District, Tuolumne County, California, upon the eastern belt of the Mother Lode District. Its subsidiary is Providence Gold Mines (US) Inc.


TSXV:PHD - Post by User

Comment by KozmoTon Oct 31, 2024 11:50am
55 Views
Post# 36290700

RE:RE:RE:RE:RE:Warrants at breakeven at $0.05

RE:RE:RE:RE:RE:Warrants at breakeven at $0.05LOL, here let me cut and paste the exact disclosure from your own financial statements ... you get back to us on that OK? (I'll highlight the relevant part for you)

"To exercise the 50% Working Interest Option, the Company must:...

e) Incur $500,000 in Property expenditures during each of five one-year lease extension periods ending May 24, 2021, 2022, 2023, 2024 and 2025, pursuant to the Second Amendment. For any given one-year lease period, the Company may pay Ellers US$25,000 in lieu of incurring the required expenditures. (As of June 30, 2024, the Company had not incurred the Property expenditures for the periods ended May 31, 2021, 2022 and 2023, and had not made the $25,000 payments in lieu.)"
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