I'd say NAK is following the JV proposal and "EARN IN" submitted to LBSR on June 29th very closely - but as we have all come to know, they are keeping everything very low profile (close to the vest):
The Company recently received copies of the Annual Affidavit of Labor receipts and receipt of claims rental payment submitted to the State of Alaska, Department of Natural Resources by Northern Dynasty. Northern Dynasty paid $1,741 in affidavit filing fees and $209,020.00 for claims rental covering all of the Company’s Alaska properties.
For the Big Chunk North claims, a helicopter borne ZTEM and aeromagnetic geophysical survey was conducted over 283 line miles. The airborne work was performed during August 2010 to assist in planning further exploration and development work. The total cost of all work was approximately $90,900.
An air rotary drill program, consisting of two holes, was completed by Foundex Pacific on the Big Chunk South (BC) claims under the supervision of Knight Piesold Engineering. The work was performed during August 2010 to test areas and assist in planning further exploration anddevelopment work. The total cost of all work was approximately $227,600.
On the Bonanza Hills claims, a helicopter borne ZTEM and aeromagnetic geophysical survey was conducted over 91 line miles. The airborne work was performed over at least 2 days during August 2010 to assist in planning further exploration and development work. The total cost of all work was
approximately $29,000.
now let's add these up:
1. 209,020.00 + 1,741.00
2. 90,900.00
3. 227,600.00
4. 29,000.00
------------------
$558,261.00
And, I believe I am missing something.
But, this is INDEED a HUGE indication that the JV is moving forward. Anyone counter this ?? It is like money in the bank folks......or per the OLD "CD" Certificate of Deposit, we just need to be PATIENT as the CD matures. !!!!
Have a tremendous WEEKEND !!
S4
