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Mineral Properties (Tables)
6 Months Ended
Jul. 31, 2012
Fair Value, by Balance Sheet Grouping [Table Text Block]

 

 

 

 

 

 

Fair value of net tangible assets acquired:

 

 

Cash

$            12,829

 

Accrued interests receivable

3,202

 

Restricted deposits

930,000

 

Accounts payable

(204)

 

Asset retirement obligation

(52,000)

 

Acquired net assets (100%)

893,827

 

 

 

Purchase Price:

 

 

Promissory note payable

$           325,327

 

Due to Tournigan Energy, net

878,000

 

 

 

 

Total

$        1,203,327

 

 

 

 

Mineral rights

$           309,500