American Lithium Minerals Inc (AMLM)

[Gnarlyman]

AMLM owns the claim CDSG is running up on and their filing states they’re late on the LOI payments of the 1st 10%. What are the odds they catch up and stand a chance to get the other optional 50% now that AMLM knows the mother load is at WEL.

Joint Venture with CDSG.

On March 17, 2022, the Company entered into a Letter of Intent with China Dongsheng International, Inc. (“CDSG”), under which CDSG must make total payments of $75,000 to obtain a 10% undivided interest in 24 unpatented lode mining claims comprised of approximately 460 acres near Tonopah, Nevada, commonly known as the West End Lithium Project. The $75,000 is payable $25,000 within 14 days, $25,000 within 90 days after signing and $25,000 within 180 days after signing. CDSG has the option to increase its ownership interest by an additional 50% by a total payment of $1,000,000 for exploration and development costs over a three-year period. This transaction has not been recognized for financial reporting purposes as a portion
of the second payment and the third payment were past due at December 31, 2022.