Unlocking The Value | ETG Message Board Posts

Entrée Gold Inc.

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Msg  5541 of 7198  at  3/30/2012 12:33:28 PM  by


The following message was updated on 3/30/2012 12:41:22 PM.

 In response to msg 5536 by  Gillripper
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Re: Unlocking The Value

Bonython Metal Group (currently private) owes us approx $12.5 plus million AUD this Sept In a staged buy back of 3,060 private/ordinary shares not withstanding a public listing at which point the same shares would be converted Into listed shares....... that's $12 million plus Cdn dollars.

Iron Ore: Purchase Agreement with Bonython Metals Group

In September 2010, the Entrée-Atlas joint venture entered into an agreement with Bonython Metals Group Pty. Ltd., a private Australian resource company.  Bonython purchased 100% of the iron ore rights on tenement EL3848 in exchange for 6% of Bonython’s future issued capital. On January 31, 2011, Bonython issued 3,060 ordinary shares to Entrée representing its 51% interest of the joint venture’s 6% ownership of Bonython. 

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