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Mineral Interests (Tables)
9 Months Ended
Oct. 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