25 Apr 2012farm in farm out agreement● NeutralMajor
On April 5, 2012 the company (then named Goldspan Resources) signed a non-binding letter of intent with Alix Resources Corp. for an option to acquire a 60% interest in the Golden Zone Property in Alaska. It would pay CDN $1,000,000 to Alix over 24 months, fund CDN $3,500,000 of exploration over 24 months, and take on Alix's payment and share-issuance obligations to the property owners. It is conditional on a definitive agreement, due diligence and owner approval. This is a new direction after the earlier Able NY and X9 proposals, whose outcomes this filing does not report.