The gold/antimony/Fort Knox processing case is a good one and I've done some digging into the commercial contracts behind Treasure Creek and see the below buried on page 306 of the prospectus.
Assume they have already met minimum expenditure /drilling requirement, they still have USD1.9m to pay, (including $300k this year), to own 100% of the project. The results from the gold drilling, location next to Fort Knox and now the antimony would normally make this a very attractive exploration package. But the un-exercised option is a concern for me. The company has been lightly cashed up for awhile now and wouldn't surprise anyone to see a raise in the near term. The question is do they keep tipping money into Treasure Creek on a zero equity basis or raise additional to exercise.
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- Ann: High Grade Antimony Assay Results up to 15.99% Sb
Ann: High Grade Antimony Assay Results up to 15.99% Sb, page-27
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