Very good, Rich. Seems like a sound deal for Sanfred (CBM covering the costs).
... 50% ... What are your impressions, if I may ask?
In order to earn its 50% interest, Cambridge must make a cash payment and issue 50,000 shares to Sanfred on closing and issue a further 150,000 shares to Sanfred over the next two years. In addition, Cambridge must incur exploration expenditures of $1.00 per acre on the property within one year of closing and cumulatively, $2.50 per acre ($750,000 in total) within two years of closing.
What cash payment do they have to initially make to SND?
Further, Cambridge must also complete an airborne magnetic survey of the property within 90 days of the closing, with the cost of the survey and its interpretation to be included as part of the first year's expenditure requirement. Cambridge will be operator of the exploration program.
Do you feel they are qualified for this kind of work (diamond)?
I assume you'll bring in some experts for survey interp., etc (unless already onboard)?
Don't mean to bog you down with questions. Answer at your leisure.
TIA,
-J
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--For ALL--
Participants involved with Cambridge Minerals Ltd:
ARAUCO RESOURCES CORP
was disclosed as a vendor to Co 9605
was disclosed as a shareholder of Co 9605
was disclosed as holding a royalty on asset of Co 9605
bought a private placement in Co 9705
Belik Gary D
bought a private placement in Co 9705
was disclosed as a shareholder of Co 9705
CHENI GOLD MINES INC
was disclosed as a shareholder of Co 9404
CHENI RESOURCES INC
bought a private placement in Co 9502
bought a private placement in Co 9510
was disclosed as a shareholder of Co 9510
DAWSON GEOLOGICAL CONSULT
was disclosed as a vendor to Co 9607
was disclosed as a shareholder of Co 9607
HUTTON CAP
was disclosed as a shareholder of Co 9404
bought a private placement in Co 9510
Hutton James A
became a director of Co 9404
McMorran Robert G
became a director of Co 9404
Phillips Edwin C
became a director of Co 9404
bought a private placement in Co 9502
PRESIDENT MINES LTD
was disclosed as optioning an asset from Co 9705
was disclosed as a joint venturer with Co 9705
was disclosed as an investment of Co 9705
RAND EDGAR CAP
was disclosed as a vendor to Co 9607
was disclosed as a shareholder of Co 9607 |
