CKG News!!!!!
Chesapeake Gold to acquire Mexican mineral concessions
Chesapeake Gold Corp (TSX-V:CKG)
Shares Issued 17,888,425
Last Close 12/20/2004 $5.14
Monday December 20 2004 - Property Agreement
The TSX Venture Exchange has accepted for filing documentation in connection with Chesapeake Gold Corp.'s option agreement dated Nov. 6, 2004, between the company, its subsidiary, Minerales el Prado SAL de CV, and Paradex Inc. (David Jones) with respect to the acquisition of a 100-per-cent interest in two mineral concessions situated in the Oaxaca state, Mexico, known as the Zalamera mineral concession and the Cerro Calavera mineral concession. The total consideration is:
$5,000 (U.S.) upon the signing of the agreement;
150,000 common shares payable over five years;
$2.65-million in exploration expenditures over a five-year period; and
completing an independent positive feasibility study on or before the eighth anniversary of the effective date.
The company may exercise the option to acquire the Calavera concession by:
complying with the obligations as stated above; and
paying the original claims owners $490,000 (U.S.) in stages on or before Feb. 24, 2008.
Subject to further exchange review and acceptance, the company will issue 150,000 additional shares subject to a feasibility study with certain conditions met.
© 2004 Canjex Publishing Ltd. |
