Based on this, it seems that the mill itself is divisible from the rest of the property and has a rough market value around $2 million (sold in 1999 for $1.75 million - although its curious as to why the option in March 2004 with UCAD was completed through New Concept Mining and not Newgold as per the 5 year term deal in the article above). Perhaps Newgold failed to complete its payments and the mill reverted back to New Concept Mining who now will move this on to UCAD through the option. A guess is that Ramoil pumped their 51% interest in New Concept Mining on August 13 so they could turn around 2 weeks later and announce that they have received $2 million from UCAD for a piece of their Nevada property and will be using those funds to pay down the balance of their $1.4 million outstanding on their mortgage and also for blah, blah, blah (insert other Ramoil pumping here). Just a guess. Thoughts?
If all these companies merge, this property fits in with Urban's past statements that he wants to own everything from the drilling to the final production. I think this is just another clue that cmkx, ucad, nevada minerals are going to merge.
Zen32 the best thing to do Monday would be to call a title company ( it may have to be a Nev. title/escrow co.) and ask them to research the address and they will tell you what has transpired. glty And again welcome again.
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