InvestorsHub Logo
Followers 0
Posts 93
Boards Moderated 0
Alias Born 03/16/2004

Re: None

Monday, 04/26/2004 12:24:41 PM

Monday, April 26, 2004 12:24:41 PM

Post# of 358547
I'm not sure if this will answer your questions about the ownership of the mineral claims. But this is taken from the Schedule 14C filing with the SEC from when Casavant Mining Kimberlite was originally created. The original mineral claims were held in 5 different companies and were contributed to CMKM. There were additional claims made later. But these are the originals:

Purpose and Effect of the Board of Directors Election

On November 25, 2002 the Company agreed to acquire the Casavant Family Mineral Claims in certain kimberlite deposits located in the Province of Saskatchewan, Canada. The Mineral Claims were held in the name of five companies owned directly and/or beneficially by the Casavant Family and Morgain Minerals, Inc. (a company held by third parties with the claims under option). These companies include Commando Holdings, Ltd., Buckshot Holdings, Ltd., 101010307 Saskatchewan Ltd., 101012190 Saskatchewan Ltd., and 101027101 Saskatchewan Ltd. In addition, Fort a la Corne Diamond Fields, Inc. acted as the claims and exploration manager for the five companies above, as well as, the claims held by Morgain Minerals, Inc. Each of these companies have agreed to transfer 100% of the Mineral Claims to the Company in accordance with the Mineral Disposition Regulations of Saskatchewan, 1986.

On October 28, 2002, Fort a la Corne Diamond Fields, Inc. completed a report on the five parcels of mineral claims held by Commando Holdings, Ltd., Buckshot Holdings, Ltd., 101010307 Saskatchewan Ltd., 101012190 Saskatchewan Ltd., and 101027101 Saskatchewan Ltd. The report also covered the claims of Morgain Minerals, Inc. All of the parcels were registered between March 2001 and March 2002 as listed in Table 1.


Table 1 (1)

Registered Owner Area(2) Due Date (3) Paid Cnd USDollar

Buckshot Holdings Ltd. (50%)
Commando Holdings Ltd. (50%)
78,177
March 2 and 9, 2003
$938,124
$614,037

101010307 Saskatchewan Ltd.
70,427
May 11, 2003
$845,124
$553,165

101012190 Saskatchewan Ltd.
81,568
August 16, 2003
$978,816
$640,629

101027101 Saskatchewan Ltd.
8,320
March 20, 2004
$ 99,840
$ 65,345

Morgain Minerals Inc. (4)
9,216
March 20, 2004
$110,592
$ 72,382

Total
247,708


$1,945,987


(1) Table 1 was prepared by P. Robershaw, P. Geo. for Fort a la Corne Diamond Fields, Inc. in connection with the properties.

(2) 1 hectare equals 2.46 acres with 247, 708 hectares equaling 609,361.68 acres.

(3) Based on U.S. Dollar/Canadian Dollar exchange rates, the amounts paid for the claims equals $1,945,987.00 USD as of January 30, 2002 exchange rates, but were valued at $2,000,000 USD on the date of the merger which is November 25, 2002.

(4) The claims of Morgain Minerals Inc. are under option, but are included.

The claims comprise a substantial and largely contiguous land position in a favorable exploration setting in the vicinity of the Fort a la Corne kimberlite bodies. In all, the properties consist of 636 claims with a total area of 247,708 hectares (611,625 acres). The 5 properties are located in central Saskatchewan within 100 kilometers of the City of Prince Albert and are largely accessible by road. Mineral dispositions in Saskatchewan are administered by the Saskatchewan Industry and Resources ("SIR"). The properties fall entirely within the surveyed portion of the Province of Saskatchewan.

In 2003, expenditures of $2,762,064 Cnd ($1,807,469 USD) will be required to retain the claims. In 2004 and subsequent years (until 2012) the required assessment expenditure will be $2,972,496 ($1,945,133 USD). After ten years, the annual expenditure on the claims increases to $25 Cnd ($16.36 USD) per hectare. Grouping of contiguous claims is allowed to a maximum block size of 10,000 hectares. Reports submitted to the SIR in support of assessment filings are retained on a confidential basis for three years, or until the claims lapse whichever is earlier.


Sorry, the table didn't copy very well, but you can find the complete text here:

http://www.sec.gov/Archives/edgar/data/1092299/000111776803000002/schedule.htm

Denis



Travel tips and advice... http://www.enjoying.info
Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.