Funding

Hendrick Resources Limited was initially financed through the issue of shares at $0.10 per share by private placement. By February 2012 CAN$800,000 (~€552,000) had been raised. These funds have initially been used to carry out the airborne survey (estimated at US$300,000 =~ €239,000) and corporate & administrative costs. These funds should also prove sufficient to cover geochemical follow-up of airborne targets.