Re: my only concern..
in response to
by
posted on
Apr 16, 2015 01:19PM
Hydrothermal Graphite Deposit Ammenable for Commercial Graphene Applications
I've looked over the latest MA/D, and have goneback to July 2011, which is when Zen came to an agreement with the CLFN. I've also looked at the 43-101, which mentions the agreement but provides no real detail. I can't find much info on the agreement, although I believe that I did read somewhere, but now can't find, that the agreement is binding up to a pre-feasibility stage. However unless I can find the actual wording, this is only my best guess. Perhaps someone has a better source of info.
It was in July 2011 when an agreement was reached. The below info is from SEDAR.
Exploration Agreement
The Corporation has entered into an agreement with Constance Lake First Nation ("CLFN") governing the relationship between them in regard to the Corporation’s exploration on traditional lands of CLFN.
Cost of Implementation Committee
On a yearly basis, commencing on the date that the implementation committee is formed and continuing for the following twelve (12) months, the Corporation shall make a total contribution of $22,000, and in years following the year in which this agreement is executed, an additional amount equivalent to the increase in the Ontario consumer price index for the preceding year, to pay: the reasonable expenses of the Corporation’s implementation committee members; the reasonable costs of an archaeologist for any archaeological assessments.
Cost of Annual Gathering
On an annual basis, $1,200, and in years following the year in which this agreement is executed, an additional amount equivalent to the increase in the Ontario consumer price index for the preceding year, for CLFN and the Corporation to have a community "feast" and conduct an information session with CLFN members about the exploration, this agreement and any issues pertaining to this agreement’s implementation;
Cost of Community Support
$60,000 respecting the first 30 drill targets in the Corporation’s exploration on the property, such funds to be provided to a social fund for the benefit of the children, youth and elders in the CLFN community. Payment of the $60,000 will be made in six monthly $10,000 instalments in October, November and December 2011 and April, May and June 2012.