Brilliant Mining fka BLT

[kiwisteve]

10 followers and zero posts in over 2 years? I'm trying to get to the bottom of recent developments -

Brilliant Announces Closing of $28.7 Million Transaction Involving Acquisition of Ivory Resources Inc.Marketwire(Wed May 11)

http://finance.yahoo.com/news/Brilliant-Announces-Closing-ccn-396724977.html?x=0&.v=1

The Transaction increased from $27.7 million to $28.7 million to cover certain costs associated with securing the rights to the airborne geophysical survey in Equatorial Guinea (the "Survey") in which Ivory has an interest, through a wholly-owned subsidiary.

If Ivory is a private company, what party is the wholly owned subsidiary? - supposedly this is Sillenger Exploration Corp. which is a public listed company. To benefit from actions based upon survey results would you invest in Brilliant or Sillenger Exp Corp?

BRILLIANT MINING ANNOUNCES $27.7 MILLION TRANSACTION
December 1, 2010

Edmonton, Alberta – Brilliant Mining Corp. (BLT: TSX-V) (the “Company” or “Brilliant”) is pleased to announce that it has entered into a Memorandum of Understanding (“MOU”) with Salida Capital L.P. (“Salida”), whereby the Company will complete a private placement with a number of parties, including Salida, in conjunction with the acquisition of Ivory Resources Inc. (“Ivory”), a private company which holds the rights to carry out an airborne geophysical survey in several west African countries and certain preferential rights to acquire mineral interests based on the results of the survey.

http://www.brilliantmining.com/investors/news_releases/index.php?&content_id=168



http://www.marketwire.com/press-release/Sillenger-Readies-for-Airborne-Geophysical-Survey-1284770.htm
Sillenger Corporate Structure
SLGX – OTCBB

Corporate Structure
ISSUED - 40 811 000
RESTRICTED - 21 000 000
FLOAT - 19 811 000
SP .04 market cap = $1.6m (less restricted = $800K)


kiwi