CanAm Uranium Corp. (CAUI) Spent Over $450k for Mineral Property Acquisitions During the Recently Ended Quarter
In filing its Quarterly Report, CanAm Uranium Corp. (CAUI) reported that it has spent over $450,000 on mineral property acquisitions during the quarter, including the Bancroft claims in Ontario, Canada and the Wheeler-Beckett property in Saskatchewan, Canada. The Company will be commencing drilling and exploration activity on its various claims over the upcoming months. ``We are required, for accounting purposes, to treat the payments as expenses as they are options to acquire between 60% and 100% of the various properties. Once we exercise the options these will become assets of the company,'' said David Hayes, CFO. Let us hear your thoughts below: