my take is that yesterday regardless of how much money had been invested into Tick Hill, it was worth zero.
We now own 5% of a company that is very motivated to explore and mine gold, with credentialed management. Not only that we are not paying our own management to invest time in selling this asset off and they can now 100% invest that time into some great deals for our mineral sands projects.
The final value of this sale will be determined by the drill results in both Queensland and WA.
I think it is well worth the gamble that management took, the newCarnaby gold company will have clo se to $5M to explore with and hopefully multiply the value of our $.5M investment.
aimo
d
Ann: Sale of Tick Hill Gold Project, page-4
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