Re the purchase of the ground from True North Copper, Resolutions 3 & 5 and maybe others at the EGM, I wonder if anyone can advise on the following:
1. Has anybody seen or heard of an independent expert’s report on the worth of the tenements to be purchased from True North Copper? I would have thought that a purchase involving $450,000 cash + 75 million shares + a further $1 million down the track, albeit based on a production figure (but no reference as to profitability), would justify shareholders being informed in such a manner. I can’t find any basis in the documents on which to evaluate the worth of that purchase and what ounces it may possibly add.
2. I note that shareholders are being asked to approve this without knowing the extent of the royalties that will be payable to Round Oak. Without knowing whether it is 2% or 20% or whatever, how can shareholders evaluate the worth of this purchase?
Does anyone share my concerns?
TBA Price at posting:
3.2¢ Sentiment: Hold Disclosure: Held