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Mineral Rights and Properties
12 Months Ended
Jul. 31, 2019
Extractive Industries [Abstract]  
Mineral Rights and Properties

ENMEX Operations LLC – Wholly owned Subsidiary - Pemer Bacalar – Resort Development Project

 

On September 22, 2017 the Company entered into a Letter of Intent regarding the Bacalar Project in Mexico. This was followed up with a Memorandum of Understanding on November 16, 2017. The Company has a very strong desire to be a part of this large development in any manner that is possible. On March 13, 2018 a payment of $20,266 was paid toward the architectural drawings prepared by Callikson. On April 13, 2019 a MOU was updated. On June 11, 2019 a new agreement was entered into regarding this property. No additional funds have been provided to this project since the signing of the MOU on June 11, 2019.

 

As of July 31, 2019, the total investment made by the Company toward this project is $20,266. The Company still has a very strong desire to continue to pursue to be a part of this large opportunity. As of July 31, 2019, it is not clear as to what level the Company will be participating as it is not clearly defined by Pemer Bacalar what is required. Pemer Bacalar has several requirements on their side of the June 11, 2019 agreement to accomplish including but not limited to finalizing the acquisition of additional acreage and obtaining permits as well as formalize a plan to conduct feasibility studies etc.

 

No demands have been made for funds by Pemer Bacalar since the date of signing the June 11, 2019 agreement. At this time the Company is waiting to hear from Pemer Bacalar of what the next step will be and then it will determine our obligations thereto.