The agreement to charter the Explorer is in place awaiting to be signed that the last $1 million is cleared out of the trust.
On August 7th we have announced that the second tranche of $1 million was to remain in trust until the investors insider filing is approved by the Exchange. The insider approval involves an international police investigation in order to see if the insider holds a criminal record or not. It is nearly completed and we shall be in a position to clear the funds pretty soon.
Upon clearance of the funds, the charter agreement will be signed and schedule for the sampling disclosed. The sampling will be carried out before the end of the year.We still plan to carry out a trial mining but this is schedule for 2013. The sampling program results will enable to fine tune the trial mining program and finalize the charter for the vessel to be utilized.
President & CEO
Afri-Can Marine Minerals Corp.
1801 Mc Gill College Avenue, # 1325,
Montreal, Qc. Canada