Weststar Resources

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White Gold District Property Synopsis

Shares Out: 44,617,111
Market Capitalization: 4,015,600
Estimate of Cash Position: 900,000
Property Name: Golden Fox and McKinnon
Property Size (Hectares): 2,500 and 3,400
Distance from White Gold: Adjacent East and 60 Km NE
Property Origin: Unknown
Details

Golden Fox
Weststar may earn 100% by paying $75,000 on signing. Another $75,000 cash and 2.5 million shares due within five days of TSX Venture Exchange approval of the acquisition. The vendor will retain a 3-per-cent net smelter royalty, of which one-third (1 per cent) can be purchased by the company for $1-million. The company is also required to spend $250,000 over the next 12 months as a work commitment.

McKinnon
Weststar may acquire 100% by paying $84,100 on signing of the agreement. Another $50,000 cash and 2.5 million shares of the company due within five days of TSX Venture Exchange approval of the acquisition. The vendor will retain a 3-per-cent net smelter royalty, of which one-third (1 per cent) can be purchased by the company for $1-million.

Company Overview

Weststar has some coal properties.

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