JNR Resources Inc JNRRF

RE: This post made in August,how close were we

[megphi]

ureka, if you read further past the paragraph you quoted, you will see that JNR will own 100% of Moore Lake if they spend $2 million over 5 years on the property. They also own 100% of Cigar Lake and Lazy Edward. I have cut and pasted it exactly from from page 12 of section 5 of the Quarterly Report, Schedule A (report dated April 11, 2003) from Sedar. Here it is below: Under the terms of the Reorganization Agreement, the Company can acquire all of Kennecott’s interest (50%) in the Moore Lake Project property by expending $2,000,000 on exploration of that property over the next five years. The Company will also immediately acquire Kennecott’s interest in the Lazy Edwards Bay and Cigar North properties. Kennecott will retain a 2.5% net smelter return royalty on all the properties.