VKML. 2 day correction. Candles. PR. 1/17/13concl
Post# of 63699
VKML. 2 day correction. Candles. PR.
1/17/13concluded the acquisition agreement for the Gold Mine in Northern California .
The Mine consists of 48 Claims and covers an area of 950 acres Which has Proven Ore, Probable Ore, and Geologically inferred resource along with a qualifying report NI-43-101. According to one of the geological reports the total geologically inferred resource is 1,165,000 ozs of gold in 4 major veins, number of known veins is 6, and Reserve Valuation is around $ 225,000,000 USD , at $ 1500 per ounce. The mine building cost was $5,000,000 USD along with 100 ton/day mill on site and fully permitted until 2016.
1/23/13 in the process of engaging Capital Investment firms
Under the terms of the agreement with the owners of Discovery Day Gold Mine -Trinity Alps Resources Inc, the Company has to pay $ 15,000,000 for the acquisition, payment of $6,100,000 is due by March 31, 2013 , and the balance is to be paid on a monthly payment of $494,444 each month over 18 months, and it is subject to due diligence and visitation to the Mine site.
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