In December 2012, the Company leased its Golden Jubilee property to the same company, who purchased Watseca, on a royalty basis whereby the Company will receive a 3% net smelter royalty on production. The lessor has the option to purchase 2% of the royalty for a cash payment of $2 Million dollars. The lessor has permitted the Golden Jubilee for bulk sample in the fall of 2013. As of December 31, 2013 the lessor has successfully de-watered the mine and removed ore samples which were very encouraging. The lessor has an aggressive plan to remove and process a large bulk sample in early 2014.
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