Post by
smallcinvestor on Nov 13, 2024 5:29pm
Still in for 30% partisipation, shl should have NR
From BEX Financial;
During the three-month period ended September 30, 2024, Homeland informed the Company that they would be participating in the joint venture at Great Burnt at the 30% level. During the period ended September 30, 2024, the Company invoiced Homeland $246,952 plus HST (included in accounts receivable at September 30, 2024) consisting of a recovery of $224,502 for Homeland’s 30% share of joint venture expenditures incurred at Great Burnt during the three months ended September 30, 2024 as well as $22,450 as other income related to the operator fee due to the Company for administration of these expenditures. At June 30, 2024, the Company accrued an accounts receivable from Homeland in the amount of $160,226 consisting of $145,660 in exploration costs recoveries from Homeland for Homeland’s 30% share of expenditures incurred in excess of the $2.5 million earn-in incurred by the Company to June 30, 2024 and $14,566 as other income related to the operator fee due to the Company for the administration of these exploration expenditures. This balance was received by the Company during the period ended September 30, 2024.