Starcore International Mines Ltd T.SAM

selling of an optioned property for almost $1million

[onetimer]

and reducing costs. 

As consideration for the transfer of Starcore's option to acquire the Project, IM will make cash and share payments to Starcore in the following amounts:

• US$150,000 in cash to be paid upon closing of the Transaction.
• 4,100,000 common shares in the capital of IM (each, a "Common Share") to be issued upon closing of the Transaction.
  • The Common Shares issued to the Seller will be subject to a contractual escrow period of twelve (12) months following the date of issuance, with 25% being released every three (3) months, with the first release occurring no later than 3 months after the closing of the Transaction.

[AlfTanner]

It is good to see that the Starcore did exactly as promised.  They said they were going to sell Toiyabe, and they did it.  This seems like a good deal for both Starcore and IM Exploration.  Starcore got $150k plus $570k worth of stock.  Future payments could total an additional $760k.  That makes the entire deal worth a possible $1.48M.  The property might have

[onetimer]

the 760 k goes to minquest as the optioner. Sam just gets the 150K plus 4.1 million shares for selling the option

[AlfTanner]

Sure enough, the $760k goes to Minquest.  At least that is money that Starcore will not have to pay. "IM will assume all of Starcore's obligations under Starcore's current option agreement with Minquest. Following the transfer, IM will have the right to acquire a 100% ownership position in the Project" "Following closing of the Transaction and payments as described

[gpwild]

They aren't going to be able to sell those 4 million shares at market price (currently 18c) either. Volume / Liquidity in both companies is non existent. Any signifcant selling is going to send IM's stock pluinging.

[AlfTanner]

Starcore may want to keep the shares in IM Exploration.  They might be interested in keeping some interest in the Toiyabe Gold Project.  I think the main purpose of selling was so they would not have to cough up the $760k for ownership in addition to money for more exploration. Even if they want to sell, they will have to wait a while.  "The Common Shares issued to the Seller