I agree that ARU is looking good- it sure is a good trader with a fairly large range-
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I am also long ODN.V- a junior with ground in Ecuador- they have had ground there for quite a long time now and just acquired more very recently-
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Odin Mining to acquire Ecuador mineral concessions
2007-06-11 16:29 ET - Property Agreement
The TSX Venture Exchange has accepted for filing a binding letter of agreement dated April 4, 2007, between Odin Mining and Exploration Ltd. and Francisco Castro Sanchez.
Pursuant to the letter, the company is acquiring a 100-per-cent ownership interest in certain mineral concessions in southwestern Ecuador, referred to by the company as the Castro interests. The company is required to make payments in instalments over 42 months from closing of the formal agreement as defined in the letter.
The total compensation payable by the company to the vendor is:
1. $20,000 (U.S.) cash on the execution of the letter;
2. $60,000 (U.S.) cash upon closing of the agreement;
3. $80,000 (U.S.) cash 12 months from closing of the agreement;
4. $180,000 (U.S.) cash, 24 months from closing of the agreement;
5. $660,000 (U.S.) cash, payable 30 months from closing of the agreement;
6. $1-million (U.S.) cash 42 months from closing of the agreement;
7. $500,000 (U.S.) exploration expenditures within 24 months of closing of the agreement.
For further details, please refer to the company's news in Stockwatch on May 8, 2007, also available on SEDAR. |
