Canada Molybdenum Corp. received a notice of default
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- Category: Molybdenum's News
- Published on 11 March 2013
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Nanika Resources Inc. (TSXV: NKA) announced its subsidiary joint venture Canada Molybdenum Corp. received a notice of default on the Lucky Ship Molybdenum Project Option Agreement.
Notice of default to the statement, the option of the project area should be received in the January 31, 2012, $ 80,000, but in fact did not happen. The option has 30 days to pay $ 80,000, once failed to pay, the termination of the Option Agreement.
Canada Molybdenum Corp. Receive any funds for the payment of the option agreement is not from South Korea joint venture partners. The Nanika do not think the financial support of the Korean joint venture partners, Canada Molybdenum Corp. has been impossible to be paid within a limited time.
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