Monday, November 21, 2011 8:04:47 AM
As of September 8th, it was decided that their services collectively were no longer needed. A value had been placed on the claims and Northern Dynasty was approached. In the process of these proceedings, Bonanza Hills was returned to Liberty Star, and an ammendment to the original Thiessen/Briscoe agreement was put in force.
The fees and development costs (564K USD both BC and BH )were put on top of the Liberty Star 3.1 MM dollar loan from back in July 2010 along with intererest on that dollar amount beginning Sept. 1st 2011
Now Liberty Star is able to market the Bonanza Hills claims, but the Big Chunk Caldera is tied up until such time as Northern Dynasty feels the need to develop it.
That's all that came to me so far - but it's a good start.
All Posts of mine are my own personal opinion. Have an AWESOME LBSR DAY !!
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