Timmins & Beardmore - Northern Ontario

Focused on becoming a near-term Gold Producer

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Message: Red

Re: Red

posted on Oct 17, 2008 11:08AM

Rod: Exactly. Let's hope. Although I think we have all been doing enough 'hoping' LOL.

How about this... seeing it's Friday LOL...

SGX JV's 50% interest in East Jacobus property to KXL in exchange for 20 million shares of KXL plus KXL must fund all exploration expenses... assuming a 'fair market price' of $4-5 per share for KXL... that's equivalent to paying SGX $80-100 million for 50% East Jacobus plus financing exploration. SGX would retain 50% interest and also participate in KXL upside via 20 million shares (i.e. ~22.5% stake in KXL). Win-win?

Either something like this or simple $1.5 million PP coming IMO.

Just speculating.

red911



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