DEQ seeks comment on proposed settlement action with Idaho Cobalt Company localnews8.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from localnews8.com Daily Mail and Mail on Sunday newspapers.
US$50,000 and issue 200,000 unrestricted shares to
Phoenix.
· First Cobalt can earn a 51% interest in Borah Resources Inc, the Company s 100% owned subsidiary and owner of the Redcastle property, by spending no less than
US$1,500,000 in exploration and related work on Redcastle over an initial three year period, and by paying a further
US$100,000 to
Phoenix on the third anniversary of the Agreement ( Phase 1 ).
· Subject to the completion of Phase 1, First Cobalt may earn an additional 24% interest in Borah Resources, for a total interest of 75%, by spending no less than a further
US$1,500,000 in exploration and related work on Redcastle over a further two year period, and by paying a further