Ann: West African Gold Acquisition , page-2

Previous Acquisition Attempt

Back in October last year, Corvette Resources paid $1 million for 25% of Bukon , with the option to acquire the remaining 75% for an 18:1 share issue.

3,814,000 * 75% * 18 shares * 12c (price on day) =

$6.1 million + $1 million already paid = $7.1 million for 100% of shares on issue

NTR is paying $4 million for the project. Looks like they got it cheap

Previous Trench Sampling
Confirmed broad zones of gold mineralisation in
saprolite with mineralised intersections including:

66m at 1.05g/t gold,
62m at 1.06g/t gold,
24m at 1.83g/t gold, and
20m at 1.47g/t gold

This extensive zone of mineralisation remains open along strike and at depth with no previous systematic exploration drilling testing the target.

Previous Announcements

http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=cvx&timeframe=Y&year=2010

Not sure why Corvette didn't acquire the project, will post any information I can find

All in all, looks like a good acquisition by the company