Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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.

Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: crustyoldprospector who wrote (60022)	8/29/2006 9:09:50 AM
From: Claude Cormier	Read Replies (1) \| Respond to of 313035

Isn't it 35%?

To: crustyoldprospector who wrote (60022)	8/29/2006 10:07:17 PM
From: Rocket Red	Read Replies (2) \| Respond to of 313035

Buffalo Gold Ltd. has signed the formal agreement with Longview Capital Holdings Ltd. and Longview Capital Partners Ltd. to acquire up to a 90-per-cent interest in the Mt. Kare property in Papua New Guinea. Longview holds an option from Madison Minerals Inc. to acquire up to a 100-per-cent interest of Madison's 90-per-cent interest in the Mt. Kare property. In order to acquire its interest in the Mt. Kare property, Buffalo will assume Longview's obligations under its agreement with Madison as follows: Buffalo will complete a preliminary feasibility study by Jan. 4, 2007, and pay Madison, in cash or shares at Madison's election, a total of $500,000 by Oct. 1, 2006, on a quarterly basis to acquire a 49-per-cent interest in Madison Enterprises (PNG) Ltd., a wholly owned subsidiary of Madison that is the holder of the Mt. Kare property; Buffalo can acquire a further 2-per-cent interest (51 per cent in total) by paying, in cash or shares at Buffalo's election, a further $500,000 on or before Feb. 15, 2007; Buffalo can acquire a further 14-per-cent interest (65 per cent in total) by completing a bankable final feasibility study by July 4, 2008, at the latest; after acquiring at least a 51-per-cent interest, Buffalo will have the right to acquire the balance of Madison's interest based on an independent valuation of Madison's remaining interest for cash or shares of Buffalo or a combination of both; and if Buffalo elects not to acquire Madison's remaining interest, Buffalo and Madison will enter into a joint venture for the further development of Mt. Kare.