Radiant Resources Files M D & A With SEDAR

Radiant Resources, currently halted on the NEX, has filed a Management Discussion and Analysis (M D & A) for the fiscal year ending on May 31st of this year. Only four pages long [PDF file], its first item after the prefatory material is a discussion of a proposed reverse takeover of private company Alliance Pacific Resources Inc. in an arms'-length reverse takeover. Alliance has, according to the M D & A, a 51% interest in a joint venture that holds "within the cooperation area [located in the western Altay Shan Mountain range of Xinjiang Province, China] 12 exploration permits that cover five main exploration properties. There are many world-class precious and base metal deposits along the favourable geologic strata that runs through the Xinjiang province and extends into Kazakhstan and Mongolia." No information on specific finds is given in the description, though. The TSX has given conditional approval of this reverse takeover, subject to shareholder approval, "finalization of a filing statement" and other conditions not specified in the M D & A.

The loss for the year went down to $30,206, from $37,272 in the year ended May 31, 2006, mainly due to a drop in listing and filing fees. Audit and accounting fees, as well as shareholder relations spending, both went up. The amount of working capital declined slightly, from $345,685 to $344,279. Related-party transactions were relatively negligible.