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Gold/Mining/Energy : The Molybdenum Discussion Board
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To: bluezuu who wrote (2864)4/27/2007 11:31:39 PM
From: pogbull  Read Replies (1) of 3267
 
Blue:
As you can probably tell that is an amended agreement from a high interest financing deal that GP did nearly two years ago.

When I read the full filing I was really impressed with the terms of this amended agreement because it allows GPXM to save $700K if they pay the Schnacks $1.3 million by September 10th:

1.2.1 On or prior to August 31, 2007. The Company, or its assignee, has the option to purchase the production payment for one million three hundred thousand dollars ($1,300.000.00), less any amounts already paid pursuant to this Section 1.2, if written notice of the exercise of the option is given on or before August 31, 2007, and the purchase price is paid within ten (10) business days from the notice of exercise.

yahoo.brand.edgar-online.com
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