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COMMITMENTS AND CONTINGENCIES | 12 Months Ended
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Dec. 31, 2017
COMMITMENTS AND CONTINGENCIES |
COMMITMENTS AND CONTINGENCIES | 13.COMMITMENTS AND CONTINGENCIES The Company has certain commitments to meet the minimum expenditures requirements on its mineral exploration assets it has interest in. Effective July 1, 2014, the Company had changes to management and entered into the following agreements for services with directors of the Company and a company in which a director has an interest: i)Management fees: $27 per month effective December 2014. ii)Directors’ fees: $2 stipend per month for independent directors and $3 stipend per month for the chairman of the board. Each of the agreements shall be continuous and may only be terminated by mutual agreement of the parties, subject to the provisions that in the event there is a change of effective control of the Company, the party shall have the right to terminate the agreement, within sixty days from the date of such change of effective control, upon written notice to the Company. Within thirty days from the date of delivery of such notice, the Company shall forward to the party the amount of money due and owing to the party hereunder to the extent accrued to the effective date of termination.

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