|
Location | Ownership | Geology | History | Work by Kings Minerals 2004-2006 | Mineral Resources | Cross Sections | Preliminary Pit Outlines | Next Steps | Exploration Potential | Quality Control | Property Reports | Property Maps
|
| | OWNERSHIP
The San Anton Property is wholly owned by San Anton de las Minas S.A. de C.V. (“SAM”), a resident Mexican company in turn owned 64% by San Anton Resource Corporation, and 36% by Desarrollos Mineros San Luis S.A. de C.V. ("DMSL"). DMSL's ultimate holding company is Goldcorp Inc. ("Goldcorp"), a Canadian company. San Anton Resource Corporation and Goldcorp have entered into a shareholders agreement governing their relationship in SAM and the Property. The shareholders agreement provides, among other things, that San Anton as SAM’s majority shareholder is entitled to oversee the day to day management of SAM which includes managing all exploration activities. Once a decision has been made to mine the Property, Goldcorp has the option to become the operator. Goldcorp chose not to participate in both the November 2007 to October 2008 and November 2008 to October 2009 exploration budgets. As a result, its participating interest in SAM is diluting based on expenditures made by San Anton Resource Corporation. Goldcorp has the option to participate in subsequent year budgets and as at March 31, 2009 its participating interest in SAM has been reduced to 35.7%. | | |
|
| | Net Smelter Return Royalties | | | Five of the ten concessions comprising the property (La Libertad, Nuevo San Anton, El Cipres, Ave De Gracia, and Dolores) are subject to 3% Net Smelter Return (NSR) royalties and a sixth concession (San Anton) is subject to two NSR royalties totaling 4%. The remaining 4 tenements (San Luis Rey, San Anton KM, San Anton KM Dos, and San Anton KM Tres) are not subject to royalties. | | |
|
|
| |