FRMA Shareholders should be watching MXL our Joint venture partner in Mexico
Mr. Dan Omeniuk Chaiman and CEO of MXL is obviously convinced that FRMA via Gracepoint has the properties that can will produce the revenue stream to justify the investment by MXL.
Take a look at FRMA's other holdings in Mexico. Hopefullythe 3 projects being developed now will provide significant revenue to develop ALL the FRMA projects that are available.
"MX GOLD CORP. CONTINUES TO EARN INTEREST IN DURANGO SMELTER PROJECT IN MEXICO
Further to the Feb. 13, 2017, news release, MX Gold Corp. has paid an additional $425,000 (U.S.) to American Metal Mining SA de CV as required under the option agreement dated Feb. 6, 2017, as amended. To date, the Company has paid US$1,075,000 of the US$1,525,000 total amount required in order to acquire 50% of the shares of a private Mexican corporation that holds the IDS Project. As stated in the February 13th news release, the IDS Project consists of a past producing gold smelter, three acres of land situate around the smelter, and various equipment and permits associated therewith. Upon advancement of the initial payment, the Company was granted a 49.5% net profit participating interest in the IDS Project that will remain until option exercise, provided that all payments are made by the Company in accordance with the amended option agreement.
The Company also announces that it has granted 5,750,000 stock options to its directors and executive officers and 3,250,000 to consultants for the purchase of up to an aggregate 9,000,000 common shares of the Company, pursuant to its Stock Option Plan, at a price of $0.13 per common share. Common shares issuable under the exercise of stock options held by directors and officers of the Company will be subject to an Exchange Hold Period of four months and one day from the date of grant of the stock options.
Each option granted to directors, executive officers and certain consultants is exercisable for a period of five years. These stock options vest as follows: (i) 25% vest immediately, (ii) 25% vest after three months, (iii) 25% vest after six months, and (iv) 25% vest after nine months.
About MX Gold
MX Gold Corp. is a junior mining company focused on the exploration, development and mining of advanced projects located in British Columbia and Mexico. The Company's primary focus in British Columbia is its high-grade Willa gold and copper project located 12 kilometers south of Silverton, B.C. In 2015, MX Gold Corp. completed the accretive acquisition of the Willa project and the Max Molybdenum Mine and Mill Complex. This acquisition removed major costs and shortened timelines typically associated with mine project development. The Willa mine is located 135 kilometers south of the Max Mill. MX Gold Corp. can also elect to reopen the Max Molybdenum mining operation once world Moly prices improve.
