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December 04, 2008
The story goes like this: in 2006 Geologix agreed to option the property by spending US$2 million on the San Agustin property, a spend which was mandated to include 15,000 metres of drilling. The option would be exercised by the payment of US$20 for each ounce of gold and US$1.00 for each ounce of silver delivered up in the resource statement at the completion of the programme. Not a bad deal you might think. That is until you look at the resource statement of 6th November which disclosed that...
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