Blue Lagoon Resources Inc C.BLLG

Selling Big Onion

[tabbie]

Look what I found hidden at the end of the last NR:

BIG ONION PROPERTY OPTION AGREEMENT
The Company is also pleased to announce that it has entered into a property option agreement on the Big Onion Property with Gama Explorations Inc., a private BC company. Pursuant to the option agreement Gama may acquire a 100% interest in the property in consideration for the following cash and share payments to be made over a period of 48 months: $500,000 in cash, 2 million common shares of Gama, and exploration expenditures of $1.5 million on the property. The Company retains a net smelter returns royalty on the project of 1.125% currently held through Metal Mountain Resources Inc., a wholly owned subsidiary of the Company.

This is literally giving away their copper asset with an established resource and much more money spent on it than what they get in return. Really scummy move! Rumor says that Gamma CEO Jatinder Sandhar is a good friend of Rana...

[PorphyryHunters]

by hidden you mean, totally visible and open to read for all shareholders. There's nothing hidden here. Bllg is clearly a majority holder in Gama after this transaction. Companies do this all the time, get someone else to do the drilling. It would cost millions to drill and time and resources. Obviously they felt this was there best move and bllg benefits from any sale once they prove up

[OttoSkorzeny88]

This post has been removed in accordance with Community Policy

[tabbie]

Please support your claims of BLLG being a majority shareholder in Gamma. Otherwise it's false information attempting to mislead investors. Pre-drilled deposits in the BC are going for a premium these days. I see what other juniors are offering to their property and this is way under the price.

[PorphyryHunters]

It's all on sedar. Page 57 of the long prospectus. I'll let you look it up. Then do the math adding 2 million shares. Either way this is of little value as you mentioned compared to Dome which is what bllg is focusing all there attention. They got 30+ holes coming up in assays. Pay attention to holes 201-213. It appears all from 1 drill pad on chance creek. That's a ton of holes