GOLDBROOK VENTURES INC V.GBK

k613

[RoyallyScrewed]

In response to your ALL CAPS statement that GBK IS A HUGE LANDOWNER...

Are they really? Finding actual facts on JJ / GBK dealings is like prospecting for gold.

I accidentally came across this gem in the contract, page 40 under "Background to the Offers"

"In August 2008 Goldbrook entered into a definitive option and joint venture agreement (the “JVAgreement”) with Jilin Jien for the exploration and development of Goldbrook’s Raglan district properties comprising some 891,000 acres in northern Quebec. The JVAgreement permits Jilin Jien to earn up to a 70% interest in Goldbrook’s properties by meeting certain funding requirements and completing a pre-feasibility and feasibility study."

Goldbrook has agreed to hand over 70% interest... not 50%, of all 891,000 acres? How many of you knew that?  What else aren't you aware of?

[North_of_60]

Actually it's 75% if they fund the project all the way through production. They had a similar deal with Anglo American previously also, for half the total cash infusion. The cost of exploring the North is astronomical and for juniors to do it for so many years as GBK they either get deals with majors that reduces considerably their % stakes and risk or go at it alone and risk loosing it all