In August, a Tenet subsidiary completed
the sale of Doctors Hospital of Jefferson in Metairie, La.
The planned exploration work, estimated to cost $100,000, will be completed
by the Company's geologists under the supervision of Michael Michaud, the Company's qualified person for this project as defined by 43-101 regulations.
This transaction is being completed
in stages and RioCan has now completed
the acquisition of 620,000 square feet for a purchase price of $113 million.
There can be no assurance that AVANIR will complete a new drug application for Neurodex(TM) in the anticipated time period, that the application, when and if completed
, will be accepted by the FDA, that Neurodex will receive regulatory approval, or that even if such regulatory approval is received, that AVANIR will be able to market Neurodex successfully.
Encouraged by the updated resource model completed
in May, 2004, referred to above, a review of historical metallurgical test work which concluded that further evaluation of the metallurgy of the deposit had potential to improve process recovery characteristics and operating and capital costs, and improved gold price, a feasibility study was commenced in September 2004.
Assay analysis for the Goldfields Project was completed
by TSL Laboratories of Saskatoon, Saskatchewan and for the Kirkland Lake Properties by Swastika Laboratories of Swastika, Ontario using the standard fire assay method.
Delayed reapplication method: The look-back method must be applied in the year in which a long-term contract is completed
and in subsequent years for which adjustments in contract price and cost occur.
The delays have been exacerbated by the change in auditors and the impact of the Sarbanes Oxley Act on that effort, however, we have complied with the requests of our new auditors and believe that this process will be completed
soon and all of our delinquent filings completed
during the month of May.
Therefore, it is possible that the percentage of completion method is required for contracts entered into in one year - but the completed
contract method may be used for other contracts entered into in a subsequent year.
In order to earn its 70% interest, Falconbridge, and its predecessor company Noranda, were required to make payments totaling US$300,000, which were made in 1999 and 2000; make a US$1 million private placement into Metallica, which was completed
in September 2001; complete US$10 million of work on the project, which was completed
in 2002; and make this US$10 million payment.
However, these gifts must be completed
gifts in the particular calendar year, as determined by state law.
During Q2, 2005 exploration expenditures were related to geophysical and geochemical surveys completed
on the Luxi China, and Sierra Rosario Mexico projects, as well as an extensive auger drilling program at Luxi.