Our offering is being made on a self-underwritten basis - no minimum of shares
must be sold in order for the offering to proceed. The offering price per
share is $0.02. There is no assurance that we will raise the full $500,000.
The following table below sets forth the uses of proceeds assuming the sale of
10%, 25%, 50%, 75% and 100% of the securities offered for sale in this
offering by the Company.
Offering Results based on Shares Sales of:
10 % 25 % 50 % 75 % 100 %
Number of Shares Sold: 2,500,000 6,250,000 12,500,000 18,750,000 25,000,000
OFFERING GROSS PROCEEDS: $ 50,000 $ 125,000 $ 250,000 $ 375,000 $ 500,000
Less:
OFFERING EXPENSES:
- SEC filing expenses $ 57 $ 57 $ 57 $ 57 $ 57
- Transfer Agent 1,026 1,026 1,151 1,276 1,901
- Printing 500 500 500 500 500
- Courier and postage 100 100 150 200 250
Offering expenses sub-total $ 1,683 $ 1,683 $ 1,858 $ 2,033 $ 2,708
Less:
PHASE ONE (6)
Due Diligence:
- Preliminary Geological due
diligence
Including: purchase of maps,
air photographs and
publications, and review of
files at British Columbia
Geological Survey Branches $ 500 $ 500 $ 500 $ 500 $ 500
- Travel expenses 500 500 500 500 500
- Geologist fees 600 600 600 600 600
Initial Field Work:
- Mobilization to Cassiar
district, including
travel expenses (1) $ 1,500 $ 1,500 $ 1,500 $ 1,500 $ 1,500
- Equipment & provisions 700 700 700 700 700
- Assays, including freight
costs 1,600 1,600 1,600 1,600 1,600
- Wages (2) 4,000 4,000 4,000 4,000 4,000
- Reports based on data
collected will be assembled
including generating a map
with the location and sample
values from the claim area.
A second map will show the
detailed geology that was
observed while mapping
claim area 600 600 600 600 600
- Allowance for additional
expenses 1,500 1,500 1,500 1,500 1,500
Exploration Phase One sub-total $ 11,500 $ 11,500 $ 11,500 $ 11,500 $ 11,500
Offering Results based on Shares Sales of:
10 % 25 % 50 % 75 % 100 %
Number of Shares Sold: 2,500,000 6,250,000 12,500,000 18,750,000 25,000,000
Less:
PHASE TWO (6)
Initial Drilling & Trenching:
- Mobilization to Cassiar
district, including travel $ 1,500 $ 2,500 $ 2,500 $ 2,500 $ 2,500
- Equipment & provisions (3) 700 4,900 4,900 4,900 4,900
- Drill and backhoe rentals,
based on a small Kabota type
tracked backhoe and use of
ATV’s to access target zones 7,600 7,600 10,100 10,100 10,100
- Assays, including freight costs 1,000 1,000 1,500 2,000 2,000
- Wages (4) 4,800 11,500 14,000 14,000 14,000
- Reports to analyze results of
chip samples produced from
trenching 500 500 500 500 500
- Allowance for additional
expenses 1,000 2,000 2,000 2,000 2,000
Exploration Phase Two sub-total $ 17,100 $ 30,000 $ 35,500 $ 36,000 $ 36,000
Less:
PHASE THREE (6)
Extensive Drilling & Trenching:
This phase will be undertaken
only if Phase One and Phase
Two provide positive
indications that further
work is warranted
- Additional trenching work
based on indications from
Phase Two results
- Modest diamond drilling
program of approximately
1,500 to 2,500 feet based
on geophysical surveys
(magnetic or induced
potential) which would be
used to target direction
and depth of proposed
target zones (5) $ Nil $ 50,000 $ 140,000 $ 225,000 $ 325,000
Exploration Phase Three
sub-total $ Nil $ 50,000 $ 140,000 $ 225,000 $ 325,000
Less:
ADMINISTRATION EXPENSES
- Office expenses, tel. &
Internet $ 1,467 $ 1,467 $ 1,467 $ 1,467 $ 1,467
- Accounting & auditor fees 5,000 7,500 12,500 22,500 22,500
- Legal fees 3,000 3,000 3,000 5,000 7,500
Administration expenses sub-
total $ 9,467 $ 11,967 $ 16,967 $ 28,467 $ 31,467
SUMMARY:
TOTALS EXPENSES: $ (39,750) $ (105,150) $ (205,825) $ (303,500) $ (406,675)
Carryforward - sales proceeds: 50,000 125,000 250,000 375,000 500,000
Residual added to working
capital: $ 10,250 $ 19,850 $ 44,175 $ 71,500 $ 93,325
The above figures represent only estimated costs and potential investors must
be aware that there is no guarantee or assurance that the Company will be
successful in raising any of the estimated proceeds
NOTES:
(1) Travel expenses: We expect to employ local experienced geological
technicians are from the nearby Good Hope Lake native community and thus no
room and board costs will be incurred other than that for the senior party
chief.
(2) Initial field work wages: We project our geochemical survey team will
consist of two men and cost $800 /day. A sampler will collect soil samples use
a GPS instrument to mark sample locations on the part of the claims that are
covered with overburden and a prospector /geologist will map and survey where
rock outcrops collecting samples for analysis recording faults contacts and
structural features (folding, strike and dip), also using a Global
Positioning instrument.
(3) Equipment & provisions: At the higher tiers of available funds, a man
portable rock drill would be used to make blast holes.
(4) Initial drilling and trenching wages: An exploration team consisting of
three men will return to the anomalous areas generated from the Phase One
program and do follow up work on identified targets. Best target (highest
values in gold, silver, copper, or other minerals) will be worked first and
the party will continue to examine all targets generated depending on
available budget. This work would entail hand trenching with pick and
shovel in areas that were soil sample targets and using a scaling bar, pick
and dynamite for areas of rock outcropping. Chip samples across mineralized
zones would be collected. The wages for this phase would be in the $1100/day
range and local labor would be recruited.
(5) Extensive drilling and trenching:
(a) the sale of 25% of the shares in this offering, which would provide a net
Phase Three exploration budget of approximately $50,000, will be sufficient to
conduct further geophysics surveys and a limited drilling program based on use
of a man portable drill;
(b) the sale of 50% of the shares in this offering, which would provide a net
Phase Three exploration budget of approximately $140,000, will be sufficient
to conduct further geophysics surveys and a moderate diamond drilling program.
All-in costs, based on using a light weight helicopter portable drill rig, are
estimated in the range of $60,000 to $70,000 per 1,000 feet of drilling;
(c) the sale of 75% of the shares in this offering, which would provide a net
Phase Three exploration budget of approximately $225,000, would provide for a
full diamond drilling program. All-in costs, based on using a light weight
helicopter portable drill rig, are estimated in the range of $60,000 to
$70,000 per 1,000 feet of drilling;
(d) the sale of 100% of the shares in this offering, which would provide a net
Phase Three exploration budget of approximately $325,000, would provide for an
expanded diamond drilling program. Under this scenario, an extensive program
would be conducted based on estimated drilling costs in the Cassiar area,
which are $60 to $70 per foot of drilling. All-in costs, based on using a
light weight helicopter portable drill rig, are estimated in the range of
$60,000 to $70,000 per 1,000 feet of drilling.
(6) As detailed in the Site Service Agreement attached herein as Exhibit
10.3, all exploration costs shown in this table include a 15% service fee to
be charged by the exploration site contractor.
Legal and accounting fees refer to the normal legal and accounting costs
associated with filing this Registration Statement under the 1933 Act as
amended and maintaining the status of a Reporting Company.
A total of $25,000 has been raised from the sale of stock to our sole officer
and director - this stock is restricted and is not being registered in this
offering. A further $36,500 has been raised from our first public offering of
shares which completed on March 18, 2012. We estimate the further expenses
associated with this second offering will total $1,858. As of June 30, 2012,
Dane had a balance of $3,698 in cash which should allow us to pay the entire
expenses of this offer from cash on hand.