This over hyped company still owes $30 million to complete their aquisition of their Ocampa project:
1. The payment to be made by Gammon Lake to Soyopa on
September 1st, 2001 has been reduced from US$3,525,000 to
US$225,000;
2. Gammon Lake will expend US$2,000,000 on exploration and a pre
feasibility study over the next 24 months;
3. US$4,525,000 shall be paid to Soyopa in two years time, on or
before the 24th day of April 2003, to complete the acquisition by
Gammon Lake of a 49% interest in Soyopa's concessions at Ocampo;
4. US$13,000,000 shall be paid to Soyopa in two years time, on or
before the 24th day of April 2003, to complete the acquisition by
Gammon Lake of all of the outstanding shares of Soyopa and a 100%
interest in Soyopa's concessions at Ocampo. |
