Bullboard - Stock Discussion Forum International Zeolite Corp IZCFF

Primary Symbol: V.IZ

International Zeolite Corp. is a vertically integrated industrial minerals company. Its principal business activities are the exploration and development of mineral properties and the development, marketing and sales of industrial commercial products from the production of its properties and the supply of raw materials from third party suppliers. Its segments include exploration and development... see more

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International Zeolite Corp > Dart 321 - Once Again Here's the Correct Math

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Post by researchpal on Feb 02, 2023 6:26pm

Dart 321 - Once Again Here's the Correct Math

Please see below the portion of IZ's news that I referred you to for August 3, 2022 with respect to the agreement between Progressive Planet and IZ on the Bromley Creek deposit. You will see that Progressive Planet will not reach the 50% interest until March 2027, so there is no way they currently hold 28%. Back to the drawing board for you!

"The amended agreement outlines the payment details for the 50% interest for $725,000. $101,933.76 has already been paid to International Zeolite, with PLAN now holding a 7.03% interest in the Bromley Creek zeolite deposit, located in British Columbia. The remaining $623,006.24 is payable in 20 equal quarterly installments to March 2027, for the remaining 42.97% interest."

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Comment by TEE1 on Feb 02, 2023 11:45pm

After reading the update I am excited about this one ...

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Comment by phantom666 on Feb 03, 2023 12:43am

From PLAN's MD&A "PPP remains the operator of Bromley Creek. The Company made a $31,150 payment in July 2022, which increased its ownership interest to 18% as at July 31, 2022. In the current quarter, PPP made its regular quarterly payment of $31,150 and expanded its ownership percentage to 23%."

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