Just to clarify
From the news release on Nov 13.
The terms of the agreement to purchase 178 acres of real estate have remained the same. Uragold was ready to close the transaction since January 2012, when the funds required to complete the transaction, were placed in escrow with a Notary. The closing of the transaction was delayed by a change of control of the Vendor.
The lots acquired cover significant sections of the historical Beauce placer gold channel. They were all once owned by the Beauce Placer Mining Company, a major placer gold mining company in the 1960s. From 1960 to 1962, the company mined 56,000 oz of gold from a small section on the eastern end of the Rang Chaussegros. Uragold holds minerals rights over all Rang Chaussegros
My Calculation: 56,000oz * ($1715-$500) = $68,040,000. given that we have 44,184,327 shares outstanding:
$68,040,000 / 44,184,327 = $1.54 per share over two years.
Furthermore, the acquisition also provides Uragold a controlling interest over significant western sections of the historical placer gold channel.
With this critical threshold now behind us, the Company's goal of starting a gold mining operation on the Rang Chaussegros of the Beauce Placer Gold property is one step closer to becoming reality. Uragold will soon provide an update on the permitting process.