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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Chilean Metals Inc | TSXV:CMX | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.17 | 0.165 | 0.175 | 0 | 01:00:00 |
The actual amount spent in exploration on the Eaglehead property to date is approximately $5,200,000. The surplus of $1,200,000 will be applied towards the additional exploration commitment of $2,000,000 otherwise required to be spent on or before October 31, 2011 in order to acquire the remaining 40% interest in and to the property subject to a 2.5% net smelter return royalty. In addition, an additional $50,000 and 500,000 shares remain to be issued by October 31, 2010 in order for the balance of the interest in and to the property to be earned by Carmax.
All or part of the balance of $800,000 required to be spent in exploration on the Eaglehead property on or before October 31, 2011 is expected to be spent in 2009.
Carmax is currently assembling all information from historical drill programs and from Carmax's exploration efforts in an attempt to establish tonnage for the project and in order to delineate future drill targets.
CHARLES S. UNDERHILL, DIRECTOR & CFO
The Company relies upon litigation protection for "forward-looking" statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Carmax Explorations Ltd. Charles S. Underhill Director & CFO (604) 408-2212 or Toll Free: 1-888-408-2212 (604) 689-4143 (FAX) Website: www.carmaxex.com
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