Ann: Multiple Drill Rigs Up And Running At Kat Gap, page-29

bungalowbill ...thanks for that...
tenementcache seem to be a private company that's duplicated most of the information in the DMIRS tenement registrar...BUT you still need to log on to tengraph or to that private co's equivalent to sort out tenement locations and relationships. Their's no doubt DMIRS's as the official, is the safest, best format and only format for proessional tenement management. I just registered with tenementcache landtrack to see how it works, and believe me it's like a 3% kindergarten version, when you can use the real thing at Tengraph for only slightly more trouble.

Re the use of the mortgage... it's the same as a mortgage over private land and prevents any transfer of title until the terms of the mortgage are satisfied.

Tipster... there were no mortgages registered when I checked originally (probably an administrative oversight that was since corrected). The only mortgages were on the underlying tenement E74;467. (8 for the 4 seperate companies quoted) But the situation still applies that once those companies interests are converted to shares and when voted on at the AGM all those mortgages should be lifted. Would anyone vote against that?

But they could still SELL the tenements to private interests with some rational of clearing debts to concentrate on the larger resource at Forrestonia. It happened at Goongarie with KWR. They had the feasibility study completed, mining approval, profit projections etc and handed it on a plate to private interests for a few million dollars. ("On an arms length basis" to a non related party). They dont ask for permission from shareholders they just do it and tell us about it after.