Lomiko CEO Paul Gill on Quebec graphite acquisition
Lomiko Metals Inc TSXV:LMR announced a letter of agreement to acquire a 100% interest in the Quatre Milles West Property in south Quebec. Under the agreement, Lomiko pays three vendors a total of $3,000 and issues 1.8 million shares
. The vendors retain a 2% NSR, half of which Lomiko may buy for $1 million.
The 2,180-hectare property covers the western extension of the geology that hosts the graphite-bearing structures shown in historic drilling at the company’s Quatre Milles Property. The combined property now covers two claim blocks, one eight kilometres by seven kilometres, and the other seven kilometres by five kilometres, bringing the expanded Quatre Milles Property from approximately 1,600 hectares to 3,780 hectares.
Read the rest of this interview with Paul Gill on Lomiko's Quebec graphite play. http://resourceclips.com/2012/05/15/lomiko-ceo-paul-gill-on-quebec-graphite-acquisition/