Will we hear any news this week in regard to Windfall Lake?
On page 21 of our 2012 annual report there is information describing the option agreement with Eagle Hill. The final paragraph says; If Eagle Hill does not complete a BFS or commit to cause the commencement of commercial production, from one year from the date of earning its 75% interest being April 20, 2013, then the Company will have the option to purchase back Eagle Hill's interest in the Property, for the lesser of i) an amount equal to the expenses incurred by Eagle Hill and ii) $6 million.
And, further down in this message you will see that Eagle Hill has said........The feasibility study will be completed by mid-April 2013.
On Dec. 17 Eagle Hill issued a news release describing their earn in obligations in regard to the option agreement.
http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=56695961&topic=EAG:CA&symbology=null&cp=null&webmasterId=92583
On Dec. 20 Noront issues a release to clarify their position.
http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=56806446&topic=NOT:CA&symbology=null&cp=null&webmasterId=92583
On Dec. 21 Eagle Hill issued a correction.
http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=56823389&topic=EAG:CA&symbology=null&cp=null&webmasterId=92583
In the Eagle Hill news release of Jan. 21 there is the following statement...... Eagle Hill has engaged Stantec Consulting Ltd. to complete a Mining Feasibility Study that will include an estimated reserve calculation and daily tonnage production. The feasibility study will be completed by mid-April 2013.
http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=57382979&topic=EAG:CA&symbology=null&cp=null&webmasterId=92583
So, perhaps we will be given some information this week. Good luck to us all.
