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Shares Out: 6,014,450
Market Capitalization: 902,168
Estimate of Cash Position: 200,000
Property Name: Lucky Joe
Property Size (Hectares): 11,000
Distance from White Gold: 40 km NE
Property Origin: Copper Ridge

Details

Taipan can earn a 51% interest in the property by making payments of $155,000 and issuing 500,000 shares to Copper Ridge and completing $2-million in exploration over four years. Taipan will then have the option of increasing its interest in the property by an additional 14% interest by issuing an additional 500,000 shares to Copper Ridge and completing an additional $2.5-million in exploration on the property over the next two years.

Total recent exploration expenditures on the property are approximately $2.9-million, of which over $1.5-million was spent by Kennecott. The property contains traces of copper as well as gold. This is the company’s Qualifying Transaction.