Investment	6 Months Ended
Aug. 31, 2011
Notes to Financial Statements
Investment	5 Investment Represents 7,407,407 Units (“Units”), of Brilliant, a publicly traded entity on the Toronto Venture Stock Exchange. Each Unit, with a fair market value of approximately of $0.25 at the time, consists of one common share of Brilliant and one Common Share purchase warrant. Each Warrant will entitle the holder thereof to acquire one Common Share of Brilliant Mining upon the payment of $0.45 per Warrant at any time until 24 months following the date of issuance. The shares have been valued using observable market prices subject to liquidity adjustments and the warrants have been valued using the Black Scholes model. These Units were received as part compensation for Sillenger giving up its rights pertaining to Sillenger’s agreement with the Government of the Republic of Equatorial Guinea. In addition, as part of this agreement, amounts payable by Sillenger to FCMI of $2,489,054 were forgiven. On July 12, 2011, upon closing the above transaction, the Company recorded $4,369,208 as “Other income” consisting of $2,489,054 representing amounts payable by Sillenger to FCMI, now forgiven, and $1,880,154 representing the fair value on July 12, 2011, of the Units of Brilliant. On August 31, 2011, the fair value of the Units of Brilliant Mining was $1,704,458. The FV of Units was made of the fair market value of the shares of $1,481,481 and fair value of warrants valued using the Black Scholes model of $222,977. The reduction in the value of the Units of $175,696 was recorded as a component of Other comprehensive loss as “Unrealized loss on investment”.

Investment

6 Months Ended

Aug. 31, 2011

5 Investment

Represents 7,407,407 Units (“Units”), of Brilliant, a publicly traded entity on the Toronto Venture Stock Exchange. Each Unit, with a fair market value of approximately of $0.25 at the time, consists of one common share of Brilliant and one Common Share purchase warrant. Each Warrant will entitle the holder thereof to acquire one Common Share of Brilliant Mining upon the payment of $0.45 per Warrant at any time until 24 months following the date of issuance.

The shares have been valued using observable market prices subject to liquidity adjustments and the warrants have been valued using the Black Scholes model.

These Units were received as part compensation for Sillenger giving up its rights pertaining to Sillenger’s agreement with the Government of the Republic of Equatorial Guinea. In addition, as part of this agreement, amounts payable by Sillenger to FCMI of $2,489,054 were forgiven.

On July 12, 2011, upon closing the above transaction, the Company recorded $4,369,208 as “Other income” consisting of $2,489,054 representing amounts payable by Sillenger to FCMI, now forgiven, and $1,880,154 representing the fair value on July 12, 2011, of the Units of Brilliant.

On August 31, 2011, the fair value of the Units of Brilliant Mining was $1,704,458. The FV of Units was made of the fair market value of the shares of $1,481,481 and fair value of warrants valued using the Black Scholes model of $222,977. The reduction in the value of the Units of $175,696 was recorded as a component of Other comprehensive loss as “Unrealized loss on investment”.