Maybe why the treeshaking. Read this resolution carefully:
2. Resolution 1 Ratification of Previous Issue of Shares
On 29 October 2009, the Company announced that it had entered into a binding term sheet to purchase
100% of the issued securities of MacPhee Resources (MacPhee Acquisition).
MacPhee Resources holds prospective uranium exploration license E80/3243 in East Kimberley,
Western Australia. Full geological details in relation to this license were provided in the announcement.
The consideration for the MacPhee Acquisition comprises:
(a) $75,000 cash payment (already paid);
(b) 10,000,000 Shares following completion (Resolution 1);
(c) 10,000,000 Shares upon commencement of drilling;
(d) 10,000,000 Shares upon achieving inferred JORC resource of 5 million pounds of U308; and
(e) 1% net smelter royalty on any revenues generated from the sales of U308.
PGamble
There is something very big going on here folks.
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