RE:Page 88 of MRE Report hints at deal with EVOLUTION MINING Hi Deepoil,
The 50% lands noted in Table 26-1 refer to M3 claims on public land. Please refer to Figure 26-1.
Surge expects to spend $ 100,000 on soil surveys and recover $ 35,000 from M3.
Evolution will pay approximately $ 1,400,000 for work done on the private lands. Presumably, Evolution is paying 75 % of the drilling, hydrological modeling and metallurgical costs being performed on the private lands.
At least, that's my take after reading the MRE Technical Report.
Although there may many suitors knocking at Surge's door,
I don't see anything in this report that would indicate that a buy-out
is imminent. If nothing else, in the next few weeks I expect to hear of a
closer relationship between Evolution and Surge.