Post by
KozmoT on Dec 17, 2023 1:43pm
Did you happen to read the part where it seems they no
longer even have a property to explore ... Oops?
"To exercise the 50% Working Interest Option, the Company must:
a) Pay US$25,000 to Ellers following regulatory approval of the Agreement (paid); ... and
e) Incur $500,000 in Property expenditures during each of five one-year lease extension periods ending May 24, 2021, 2022, 2023, 2024 and 2025, pursuant to the Second Amendment. For any given one-year lease period, the Company may pay Ellers US$25,000 in lieu of incurring the required expenditures. (As of September 30, 2023, the Company had not incurred the Property expenditures for the periods ended May 31, 2021 and 2022, and had not made the $25,000 payments in lieu.)
Let me guess, now you are going to threaten me again because I had the nerve to expose this?