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6. Investment in Securities and Gain On Sale of Mine
9 Months Ended
Feb. 28, 2014
Notes  
6. Investment in Securities and Gain On Sale of Mine

6. INVESTMENT IN SECURITIES AND GAIN ON SALE OF MINE

 

On January 20, 2014, the Company sold a portion of a mining claim for 5,000,000 shares of restricted stock of the buyer.  That stock in a new development stage company was deemed of little value and a nominal value of $5,000 was assigned to it.

 

There was no cost associated with the mining claim, so the gain reflected in these financial statements is identical to the value assigned to the securities received as consideration for the sale.