Originally posted by cudeco1
So we have a new agreement! Time to get a mining lease!
Well, on paper, that looks like progress, but, still raises many questions, which, frankly, are, again, left for us to work out for ourselves.
There looks like a stack of work needed even when the ML is granted."Direct costs incurred with respect to the project including but not limited to
haul road and accessroad construction and maintenance,
waste dump preparation, support facilities, blast holedrilling, sampling and assaying " "Commissioning works are currently
being finalised at theBlack Jack Plant Site ". "Progress is
well advanced on the remaining requirements for the grant of theMining Lease with the Company expecting these to
be completed in the near term. "
Why a $500,000 interest free loan for what appears to be the same purpose for which they made a CR back in June "$3 million to primarily fund the Agate Creek GoldProject including the remainder of the project approvals process, payments thatwill be due upon grant of the mining lease and to provide funding towards the minedevelopment start-up".
"Maroon will provide an interest free unsecured loan to Laneway for an amount of up to $500,000to meet costs to be incurred to complete the process for the Mining Lease grant including NativeTitle and Landholder obligations, tenement holding costs and environmental liability financialassurance requirements. At least "interest free" is much better than 15% CNs, but are they still proceeding with the June CR also?
And, who the heck are Maroon, this privately owned company from W.A. that is also involved with CTO where there is some story.
I'd love to see some numbers crunched regarding what LNY will actually receive in their bank account. "Gold produced will be paid 60% to Laneway and 40% to Maroon
above 3.5 g/t gold head gradewith the initial 3.5g/t produced to be retained by Maroon"
Any comments?????
(20min delay)