AEX 0.00% 1.1¢ acclaim exploration nl

mangalisa project, page-2

  1. 114 Posts.
    As far as i can see it looks like GoldCorp has secured a 77% interest in the Mangalisa project from Superior Mining (the owners of the license) by spending 10mill on exploration. Goldcorp has then allowed Acclaim Exploration to take up to 50% of their 77% stake by spending 10mill over 2 years. Which to me means that GoldCorp has passed on the exact same deal to Acclaim but keeping 27% of the project for themselves for doing nothing. (pretty smart bunch). So if Acclaim spend the 10mill on exploration then Acclaim would own 50%, GoldCorp 27%, and Superior 23%. (Don't quote me on that as I could be wrong).

    More importantly though, where are the assay results everyone has been waiting for?? It has been almost 2.5months since the first result was released, surely it can't take this long to get the rest? It states on Superior's website that Phase 1 drilling program consists of 4 holes and then they would wait for results before proceeding with Phase 2 (another 4 holes). The website states that as of 20th October, drilling of Phase 1 has been completed and results are awaited. Surely these should be due any day now as IMO they are way overdue.

    I have tried to ring the company many times but the receptionist always has some excuse and always makes me leave a message and of course no return phone call. Anyone had any better luck with getting an update with whats going on? Would be appreciated.

    Please DYOR as i'm no expert...
 
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