Esp in light of this 2004 release:
Aurora Metals Enters into Lease Agreement for Platinum Group Metals and Nickel-Copper-Cobalt Exploration
Business Wire, Feb 11, 2004
Business Editors
DENVER--(BUSINESS WIRE)--Feb. 11, 2004
Aurora Metals (BVI) Limited ("the Company") (OTCBB:AURMF), announces that it has entered into an arm's length agreement with two private companies ("Lessors") for exploration for platinum group metals ("PGM"), and nickel-copper-cobalt mineralization, in the Stillwater Complex, Montana. the Stillwater Complex is located in the Beartooth Mountains in south-central Montana, some 90 miles by road southwest of Billings. The agreement, known as the Basal Zone Lease Agreement ("Lease Agreement") covers an area of approximately 903 acres, in nine unpatented claims and 34 patented claims in Stillwater County, and 17 unpatented claims, covering approximately 345 acres, in Sweet Grass County.
The Lease Agreement has a Primary Term of ten years from the date of execution, extendable for a further five years. Aurora Metals will pay the Lessors a monthly fee of $500 commencing on the first anniversary of the Agreement, $1,000 per month from the second anniversary, $1,500 per month from the third anniversary and $2,000 per month from the sixth anniversary, and, thereafter, for the term of the Agreement. In addition, Aurora Metals will be responsible for payment of annual fees to the U.S. Bureau of Land Management for the unpatented claims, and property ownership taxes on patented claims. A Net Smelter Return of 2% will apply to all products from future mining operations.
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