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Tuesday, January 29, 2013 9:37:50 PM
26,500,000 x .003 = 79,500, Baltimore Silver Mine Project
On August 6, 2012, the Company signed an agreement to lease, with an option to purchase, the Baltimore Mine located in Western Montana. The lease payment will be $10,000 per year, plus $500 per quarter; or, $2,000 per year in restricted stock at SAGD’s option, provided such restricted stock has a market bid price in excess of $20,000 for the twenty days prior to payment. Payment will be on July 31 of each year beginning July 31, 2013. SAGD may terminate the lease with ninety days’ notice; however, such determination has no bearing on cash payments or issuance of stock to Western prior to the termination of the lease option. The term of the lease is ten years and may be extended for an additional 15 years with a payment of one hundred thousand dollars ($100,000) at any time.
SAGD will have an option to purchase the property free and clear of any lien or encumbrance, for the term of this agreement, in the amount of five hundred thousand dollars ($500,000), at which time the lease would terminate and no royalty would be due afterwards from the property.
$$$ Should SAGD cause to be issued a property report meeting the industry guidelines indicating probable or proven reserves in excess of two million ounces of silver on the property, Western shall receive an additional thirty thousand dollars in cash or restricted shares value determined as (3) above, within thirty days of publication of such report.
The acquisition price of this option was 10,000,000 shares of SAGD restricted stock, based on the contractually stated value of $29,000, using the closing market price of the Company’s common stock on August 17, 2012, plus an additional $25,000 payable in the form of cash or restricted common stock, at SAGD’s option, valued at the ten day average bid price for the company’s common stock. This additional $25,000 is payable during the period January 1, 2013 to July 1, 2013. As of September 30, 2012, the Company identified there were indicators of impairment. As such, it conducted a cash flow assessment on this mining lease, and based on that assessment, the Company recorded an impairment loss of $29,000 in its statement of operations.
25,000 / .003 = 8,333,333 from todays PR of which 19,833,333 shares were issued to foreign entities. so now 11,500,000 x .003 = $34,500 maybe repaid Asher with interest or we had to pay Western $30k because we have a report for 2million ounces as per above $$$ paragraph and 6,666,667 or $20k for something else will be watching for filing for shure
On August 6, 2012, the Company signed an agreement to lease, with an option to purchase, the Baltimore Mine located in Western Montana. The lease payment will be $10,000 per year, plus $500 per quarter; or, $2,000 per year in restricted stock at SAGD’s option, provided such restricted stock has a market bid price in excess of $20,000 for the twenty days prior to payment. Payment will be on July 31 of each year beginning July 31, 2013. SAGD may terminate the lease with ninety days’ notice; however, such determination has no bearing on cash payments or issuance of stock to Western prior to the termination of the lease option. The term of the lease is ten years and may be extended for an additional 15 years with a payment of one hundred thousand dollars ($100,000) at any time.
SAGD will have an option to purchase the property free and clear of any lien or encumbrance, for the term of this agreement, in the amount of five hundred thousand dollars ($500,000), at which time the lease would terminate and no royalty would be due afterwards from the property.
$$$ Should SAGD cause to be issued a property report meeting the industry guidelines indicating probable or proven reserves in excess of two million ounces of silver on the property, Western shall receive an additional thirty thousand dollars in cash or restricted shares value determined as (3) above, within thirty days of publication of such report.
The acquisition price of this option was 10,000,000 shares of SAGD restricted stock, based on the contractually stated value of $29,000, using the closing market price of the Company’s common stock on August 17, 2012, plus an additional $25,000 payable in the form of cash or restricted common stock, at SAGD’s option, valued at the ten day average bid price for the company’s common stock. This additional $25,000 is payable during the period January 1, 2013 to July 1, 2013. As of September 30, 2012, the Company identified there were indicators of impairment. As such, it conducted a cash flow assessment on this mining lease, and based on that assessment, the Company recorded an impairment loss of $29,000 in its statement of operations.
25,000 / .003 = 8,333,333 from todays PR of which 19,833,333 shares were issued to foreign entities. so now 11,500,000 x .003 = $34,500 maybe repaid Asher with interest or we had to pay Western $30k because we have a report for 2million ounces as per above $$$ paragraph and 6,666,667 or $20k for something else will be watching for filing for shure

