Comment by KozmoTon Mar 12, 2025 1:38pm
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Post# 36490431
RE:RE:One last day until the PP extension expires
RE:RE:One last day until the PP extension expiresTechnically they haven't met option requirements going back all the way to 2021 ! That was when they stopped required exploration spending AND "payments in lieu". I can't see how they'd still have any rights to the property at all. Think about it ... "payments in lieu" are a low-budget lifeline in case you can't manage to meet the exploration expenditure reuirements. If you can't even manage the payment in lieu, then maybe its time pack things up.
And its not like they have had any success trying to raise $$ since then, in fact they are literally only a couple hours away from the expiration of yet another PP extension deadline.
"(As of September 30, 2024, the Company had not incurred the Property expenditures for the periods ended May 31, 2021, 2022 and 2023, and had not made the $25,000 payments in lieu.)"