At the time of first announcing the transaction, MBMI owned approximately 33% of the shares of the HoldingCos ("HoldCo Shares").
Having executed deeds of assignment in favour of DMCI, MBMI has now transferred the HoldCo shares.
Most notably, the Pending Cases must be resolved by the courts in favour of MBMI, the HoldingCos and the DevCos (as the case may be) thereby allowing the HoldingCos and/or the DevCos to resume mining operations at the Palawan Properties, and such favourable decisions must be final.
Young-Shannon entered into an option agreement with MBMI in November, 2004 and completed 10 diamond drill holes across the property, totaling 8,272 ft.
A campaign of diamond drilling by MBMI Resources Inc.
Young-Shannon's option agreement with MBMI
was entered into in November, 2004 and enables the Company to earn a 50% interest in the McMillan property over a three year period for staged payments of $75,000 in cash and 650,000 common shares plus a three year work commitment of $900,000.
is a Canadian based mining exploration company focused on the exploration, and development of mineral properties.
Al Pietrangelo, MBMI
CEO & President stated, "As we begin the journey together moving from a development phase company into commercial barite production, we are honored to present a clean bill of health on your company, Mabwe Minerals Inc.
is now within a healthy ranand I wanted to get fit so I could longer.