I'm still confused by this:
B. BUSINESS OVERVIEW
The Company currently has an interest in one project consisting of two separate
land leases in Stillwater Montana (the "Stillwater Complex"). There are no
known reserves on the Stillwater Complex.
ACQUISITION
After commencing negotiations in August 2003, the Company subsequently entered
into two (2) arms' length lease agreements covering patented and unpatented
claims in the Stillwater Complex, Montana, U.S.A. The lease agreements cover
various areas where three distinct types of mineralization have been identified
from past exploration, specifically: platinum group elements ("PGMs" - platinum,
palladium, rhodium, ruthenium, osmium, and iridium); nickel-copper-cobalt also
considered likely to contain PGMs; and chromite deposits.
Expenditure on data assembly and matters associated with the lease agreements in
the year ended December 31, 2006 was $18,921 (December 31, 2005 - $12,723).
MOUNTAIN VIEW LEASE AGREEMENT
The Mountain View Lease Agreement is between Aurora Metals, as Lessee, and the
Mouat family, Mouat Nickel Mines, Inc., Fort Stockton Investments, Inc. and 15
individuals (collectively the "Lessors"), and covers 70 unpatented lode mining
claims, five unpatented placer mining claims, one unpatented mill site claim,
one unpatented tunnel site claim and one patented lode mining claim, in a
contiguous area of approximately 1,719 acres, all located in Stillwater County.
The Lease Agreement has a Primary Term of ten years from the date of execution,
February 1, 2004, extendable for a further five years upon payment of Advance
Royalties of $50,000. Aurora Metals will be responsible for payment of annual
fees, totaling $7,700, to the U.S. Bureau of Land
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If you take anything I say as advice, you're crazier than I am.
