Property Agreement
The TSX Venture Exchange has accepted for filing an amendment to the agreement dated April 2, 2002, between Silver Quest Resources Ltd. and Teck Resources Ltd. whereby Silver Quest acquired a 100-per-cent interest in five claims (84 units) (the Tascha property) located in the Omineca mining division of British Columbia.

Pursuant to the amending agreement, the parties have agreed to: eliminate Teck's back-in right to reacquire a 65-per-cent interest in the property; and reduce the royalty payable to Teck from a sliding scale royalty with a rate in the range of 4.0 per cent to 4.5 per cent of the net smelter return to a flat 2-per-cent NSR royalty.

As consideration for the amendment, Silver Quest will: issue one million of its common shares to Teck; make a one-time payment to Teck upon the project achieving commercial production of an amount equal to $5 per ounce of gold multiplied by the number of ounces of gold in the reserves and resources categories reported in the feasibility study used to make the decision to place the project into commercial production; pay a flat 2-per-cent NSR royalty on gold and all other metals produced from the project; and if before Dec. 31, 2013, the company sells, leases or options the property to a third party, it will pay to Teck 10 per cent of the gross proceeds received from such sale, lease or option.

Het aandeel Siver Quest slot op C$ 0,79 +4ct en 256.200 sts omzet

Company Profile Silver Quest
Sector Gold Sector
Ticker SQI‐V
Stock Rating Spec. Buy
Closing Price $0.75
12‐Mth Target $1.30
Potential ROR 73%
Shares O/S Bsc (M) 93.6
Shares O/S FD (M) * 207.8
Mkt Cap, Bsc (M) C$70
Mkt Cap, FD (M) C$156
NAV/sh ** $1.35
Working Capital/sh $0.03
Debt/sh $0.00
* financed scenario (includes assumed future financing fo
construction capex
** Per sh figures are per diluted sh NAV@ 5% DCF rate,
$1,512/oz gold

Wij zien Silver Quest ook als overname kandidaat.
New Gold is de kandidaat op vragen over wie dan wel.