Hey jackjc,
I hold a small position in BTT. Bob Bishop mentioned it at the last Toronto gold show. I think Cameco agreed to put some money to work on BTT's U property by March 31, 2005 so things may start happening for the company on the U front. They are also awaiting drill results from their GK property.
Cameco will have the option to acquire a 65% interest in all targets within the area of interest by incurring total expenditures of C$23,600,000 (US$15,000,000) over a period of 18 years. Portions of the area of interest are subject to earn-in levels ranging from C$1,000,000 to C$10,000,000. Cameco must incur expenditures of C$600,000 prior to March 31, 2005 to maintain the right to exercise the option. Minimum annual expenditures by Cameco of C$500,000 will be required during the following two years, increasing to C$1,000,000 per year for subsequent years.
Cheers,
John |
