Star Gold Corp. (SRGZ): announcements explained, share price

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

14 Aug 2019farm in farm out agreement▲ GoodMajor

Struck a final deal for outright title to Longstreet: in exchange for repricing existing options, issuing new ones, a $50,000 cash payment and an 18-month consulting agreement, Great Basin Resources — now the counterparty holding the underlying option, in place of the original MinQuest structure — agreed to transfer the property free of any further required spending, with Star Gold keeping an option to buy back half of the 3% royalty for $1.75 million once ore sales begin.

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6 Dec 2018farm in farm out agreement▼ Bad

Again pushed back Longstreet's required expenditure deadlines, collapsing the 2019 and 2020 payment dates into a single August 2019 deadline — continuing the pattern of renegotiating the schedule rather than meeting it.

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18 Dec 2014farm in farm out agreement▼ Bad

Renegotiated the Longstreet option with MinQuest, pushing $650,000 of exploration spending due by January 2016 into later years in exchange for granting MinQuest more stock options — relief suggesting Star Gold was struggling to fund the schedule as originally written.

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