Ann: Agreement to Sell Great Western and Bundarra, page-2

re: Ann: Agreement to Sell Great Western and ... They call this a good deal?


They spent how many years 'working' on these assets in a major gold bull market only to sell them for how much?

A few million plus a royalty..... extraordinary.

The agreement involves:
? A$1.3m cash 3 days after TMX shareholders give approval
? A$0.7m cash when first gold produced or 1 year after receipt of initial payment
? 1.0 grams/ounce produced up to a total value of A$6.0m with a minimum payment of A$600,000 per year

Total value A$8.0m equates to 3.7 cents per share.


If that's all these resources are worth, you have to wonder what has been happening with TMX management over the past years...

Now left with one 'key' asset - a theory and a few sniffs on a grass roots nickel play.

Aztec Dome may come through in the fullness of time and a lot of money put into it but hey, so do ponies at the races!

Truly truly bizarre.