Re: it's obvious John that you can't read

Welcome to the McFaulds Lake HUB on AGORACOM

Discuss the various junior resource companies within the McFaulds Lake Area

Reply New Message

Prev Message Back To Forum Threaded View Next Message

Aussie1

Rank: Vice President [?]

Points: 1632 [?]

Votes: 185 Score: 3.1 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Re: it's obvious John that you can't read

posted on Mar 07, 2008 05:20PM

All I can say about UC and this predicamnet at this time is - UC is doing the work and directing the traffic, engaging Biliken etc. The LOI is binding, they have spent money on the project and complied with their part of the agreement, they have until 2009 to spend the required amount for the earn and so on. I can't see how SPQ can kick them out? Why would UC be spending more money if they didn't have an agreement with SPQ, why would SPQ let them on the property if they weren't going to go ahead?

The lawyers would love to see this situation get dirty. If they hit big then it would deter a major from coming in as it would be in the courts for quite a while.

I have more thoguhts but i think I'm on the right track. They've spent money on the property and they continue to spend money on the property. Follow the money! John I know the agreement your talking about may not yet be signed but my guess is the LOI is signed?

UC could end up with 60% of the projects in the JV. Not bad, and they intend to go trhough with it.