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 : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (11929)	10/22/2015 7:40:47 AM
From: Goose94	Read Replies (1) \| Respond to of 203903

Miranda Gold (MAD-V) Oct 20, '15 reports that an agreement has been reached for Miranda to purchase from Daniel Renshaw his 3.3% royalty held on the Willow Creek, Alaska project. Miranda holds the Willow Creek project under lease from Alaska Hardrock, Inc. The parties have separated the Renshaw royalty into the area that covers the patented mining claims on the west side of the project (the “A Royalty”) and the area that covers the patented mining claims on the east side of the project (the “B Royalty”). The A Royalty covers the area, including the Coleman resource that will be initially developed and placed into production. The B Royalty covers ground that is prospective for exploration including the Bullion Mountain targets. A Royalty – West Side Willow Creek Project To view the graphic in its original size, please click here Miranda has agreed to purchase up to 100% of the A Royalty in a series of seven (7) contracts with each subsequent contract contingent on the prior contract being paid in full. Pursuant to each contract Miranda will purchase 0.4% to 0.5% % of the A Royalty for each cumulative US$143,000 paid at the rate of US$5,000 per month plus interest with the first payment commencing on October 31, 2015. As each contract is paid Miranda will register its ownership of the A Royalty purchased. If Miranda does not complete payment of any contract the remainder of the A Royalty will remain with Renshaw. The seven contracts will be over an aggregate period of up to 200 months, but such contracts and payments can be accelerated and paid off at any time, providing that Miranda pays Renshaw the full payment of an aggregate US$1,000,000 of principal so that Miranda will have purchased the entire 3.3% A Royalty. In addition, Renshaw has agreed to grant Miranda the option to purchase the B Royalty which option may be exercised at any time provided that the A Royalty contracts are not in default. Miranda may purchase up to 100% of the B Royalty for the aggregate amount of US$500,000 in principal to be paid under terms, conditions and installments that are not inconsistent with those of the A Royalty. Ken Cunningham, CEO of Miranda, remarked “I am very pleased to have come to this agreement with Dan Renshaw that resulted in a concept that works for all. It is not a guarantee that Miranda will buy the entire royalty but it provides Miranda with the opportunity to do so at a purchase price and payment schedule that does not overly burden Miranda and recognizes the early stage of development of the Willow Creek project. Miranda will purchase the royalties for its own account.” Miranda entered into an exploration and option to joint venture agreement (the “Agreement”) with Gold Torrent, Inc. (“Gold Torrent”) on Willow Creek, effective November 5, 2014. The Agreement provides for the exploration for and possible development of mining of minerals on the Willow Creek project, the grant to Gold Torrent of the option and right to earn an interest in the Willow Creek project and to form a limited liability joint venture (the “Joint Venture”) on Gold Torrent completion of its initial work obligation in the amount of US$1,070,000 (the “Initial Earn-in Obligation”) by November 5, 2015. Contingent upon Gold Torrent completing an equity fund raise of not less than US$1 million by November 5, 2015, Miranda has agreed to extend all of the deadline dates in the Agreement by six months so that Gold Torrent would then have until May 5, 2016 to complete the Initial Earn-in Obligation and until May 5, 2018 to complete the US$10,000,000 to earn a 70% interest. Ken Cunningham, CEO of Miranda, remarked: “In the spirit of co-operation Miranda has granted this extension once financing is secured. Gold Torrent is working tirelessly to get the funding in place to develop the Willow Creek project into production in a very difficult market.” About Miranda Miranda is a gold exploration company active in Colombia and Alaska whose emphasis is on generating gold exploration projects with world-class discovery potential. Miranda performs its own grass roots exploration and then employs a joint venture business model on its projects in order to maximize exposure to discovery while minimizing exploration risk. Miranda has ongoing relationships with Agnico Eagle Mines Ltd., Prism Resources, and Gold Torrent and royalty relationships with Montezuma Mines Inc. and Nevada North Resources U.S.A., Inc. For more information related to Miranda: Joe Hebert, Executive Vice President 775-340-0450 www.mirandagold.com