SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Zincman who wrote (49136)9/17/2007 8:51:13 PM
From: loantech  Read Replies (1) of 78419
 
Bell Resources options Zomelahuacan to Chesapeake

2007-09-17 14:16 ET - News Release

See News Release (C-BL) Bell Resources Corp

Mr. Brian Leeners of Bell Resources reports

ASSIGNMENT OF ZOMELAHUACAN PROPERTY TO CHESAPEAKE GOLD CORP.

Bell Resources Corp. has entered into a letter agreement with Chesapeake Gold Corp., wherein the company will assign up to 90 per cent of its right, title and interest in and to the Zomelahuacan property located in Veracruz, Mexico.

Under the terms of the option agreement, in order to earn a 70-per-cent interest in and to the property, Chesapeake must:

Make cash payments to the underlying owner of the property totalling $210,000 (U.S.) over a three-year period;
Incur exploration expenditures totalling $900,000 (U.S.) over a three-year period.
Assume payment of underlying property taxes on the property.

Chesapeake may increase its interest in the property to a 90-per-cent interest by:

Making a cash payment to the underlying owner of the property of $1.2-million (U.S.) by Dec. 19, 2011;
Incurring $500,000 (U.S.) in exploration expenditures in 2011.

Upon Chesapeake exercising the additional option, it will have a 90-per-cent interest in the property and the company will have a 10-per-cent interest in the property, subject to a 1-per-cent net smelter return (NSR) royalty in favour of the company and a 3-per-cent NSR royalty in favour of the underlying owner of the property.

We seek Safe Harbor.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News