(Marketwired - Nov. 27, 2017) - Revelo Resources Corp regarding the purchase by Masglas of the sell of the Araya Breccia Copper Project and Options the Los Azules Copper Project to MASGLAS Limited. Maurizio said he anticipated a market turn around in the next couple of years. In the near term, MASGLAS will start a small-scale mining operation at the Araya Breccia copper project, and it will also commence exploration at the prospective Los Azules project".
Payment for the Araya Breccia copper project is as follows: Pay US$100,000 in cash to Revelo in three tranches within 90 days from closing of the transaction. At Closing:US$30,000; After 45 Days: US$30,000; After 90 days: US$40,000).
Maurizio, has Masglas paid the first tranche of $30,000?
Under the 4-year Option Agreement at Los Azules Copper Project, MASGLAS gives this as their payment schedule and their four year drilling plan for the property: •Paying US$500,000 in cash to Revelo according to the following schedule: End Year 1:US$50,000; End Year 2: US$50,000; End Year 3: US$150,000; End Year 4: US$250,000.
Completing a detailed 4-year work program, including 17,000m of drilling, according to the following schedule: Year 1: Soil & rock sampling, IP geophysical surveying; Year 2: 2,000m drilling; Year 3: 5,000m drilling; Year 4: 10,000m drilling.
So, in light of what Masglas plans are for a small scale mining operation at the Araya Breccia project, and four year work program consisting of drilling on the Los Azules Copper project, what is the schedule of exploration, drilling, and actually beginning mining operation for the ADL? Will the ADL also be a small scale mining operation? Does Masglas have the financial strength or backing to begin production on the ADL? Unfortunately, if they haven’t begun production on the ADL, it could possibly be years before any stream of income is produced from the ADL.
Maurizio, if you can announce your plans for these two properties, why didn’t you do the same for the Medinah shareholders? As for me, your three releases just don’t provide enough information.
Tic, toc, tic toc.
