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Re: DilutionI agree title to those claims passed to RIO when the deal was signed and if RIO decides to take a pass on the property they have to give them all back. The agreement says they had the properties for up to 7.5 years to explore as long as they were spending money. At each stage they could exercise their option for a JV at certain percentages. They have decided on the 60/40. Now they have sent a list of all the properties that they want as part of the JV ------The Joint Venture Agreement will supersede this Agreement- Looks like this agreement that we can read was like a rental agreement for exploration purposes. They didn't like what they found give it back. Spend enough money and want in le'ts move to JV!! The JV that was attached as a schedule in this Agreement but not visible because it had been redacted is now becoming the agreement. If there was any pricing for not renting but owning the properties in question it may be in this JV! It wasn't material at the time they were just renting to explore - those costs were revealed 70 million total so maybe they did not need to be released and were allowed to be redacted. Unless you know what is in the JV how can you say it was given away? may at RTEC’s option be deducted from any amounts or payments which may be or become due or payable to SGF under this Agreement or the Joint Venture Agreement or may be credited against the Expenditures contemplated by Sections 4.3, 4.4, 4.5 or 4.6. This line in the agreement is the one that keeps me thinking about it. This is from 7.6 referring to where RTEC could deduct amounts from...….may be or become due!!!! This agreement or the Joint Venture Agreement I did not help write the JV so I just don't know!!! |
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