January 25, 2010
BCGold Corp. Defines More Copper-Gold Drill Targets at Minto / Carmacks Properties

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January 14, 2010
BCGold Corp. Re-negotiates Engineer Mine Property Agreement

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January 11, 2010
BCGold Corp. Grants Stock Options

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Gold:
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MINTO/CARMACKS COPPER-GOLD PROPERTIES

Ownership Agreement

BCGold is the largest landholder in the Carmacks Copper-Gold Belt, holding title to 17 properties encompassing 17,125 hectares strategically located near Capstone Mining Corp.’s (formerly Sherwood Copper Corp.) newly commissioned Minto Mine and Western Copper Corp.’s Carmacks Copper Project, currently in the permitting phase. Of the 17 properties, 15 were acquired through an option agreement entered into on November 1st 2006. The option agreement was signed with a third party to acquire up to a 100% interest in the 15 mineral properties, by making the following cash payments, expenditures and Unit* issuances:

$300,000 Cash Payment:

  • $100,000 on or before April 15, 2007 (paid)
  • $ 50,000 on or before October 15, 2007 (paid)
  • $ 12,500 on or before October 15, 2008 (paid)
  • $ 12,500 on or before December 15, 2008 (paid)
     
  • $ 12,500 on or before February 15, 2009 (paid)
  • $ 12,500 on or before April 15, 2009 (paid)
  • $ 50,000 on or before October 15, 2009 (paid)
  • $ 50,000 on or before October 15, 2010

Minimum Expenditures:

  • $ 900,000 on or before October 15, 2010 (Incurred)

1,000,000 Unit* Issuance:

  • 300,000 within 5 days of the acceptance of the agreement by the TSX Venture Exchange (issued – fair value $273,750)
  • 200,000 on or before October 15, 2007 (issued - fair value $145,968)
  • 200,000 on or before October 15, 2008 (issued – fair value $20,000)
     
  • 200,000 on or before October 15, 2009 (issued - fair value $20,000)
  • 100,000 on or before October 15, 2010

* Each "Unit" will consist of one BCGold common share of and one-half of one common share purchase warrant, each whole such warrant being exercisable to purchase one common share of BCGold for two years following the date of issuance at a price per common share to be determined by taking the weighted average closing price of the common shares of BCGold on the TSX Venture Exchange (or such other stock exchange or quotation system as BCGold's shares may be traded or quoted on) for the twenty consecutive trading days immediately prior to the date of issuance 25%. All of the payment, expenditure and Unit obligations may be accelerated at BCGold's option. The agreement was accepted by the TSX Venture Exchange in March 2007.

Net Smelter Royalty ("NSR")

  • An NSR of 1.75% applies to the holdings
  • NSR can be reduced to 0.50% by payment of $1,500,000 

last updated: January 14, 2010

 

 

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