Goldex royalty
posted on
Aug 23, 2009 12:54PM
Probe's management needs to maintain a serious vigil in keeping an eye on our 5% royalty claims section. When the cat is away, will the mice play?
Yes, it has been my experience that minority contractual interests have been taken advantage quite frequently, especially in royalty agreements. I am currently in the midst of proving a major sign company in California guilty of neglecting to honor its contractual responsibilities because other owners were asleep who depended upon them to do the right thing. In the case in point, it was the duty of a Lessee to adjust rents higher according to a CPI Clause in the Lease. The company failed to increase monthly payments in line with the identical percentage change in a local CPI Index costing owners considerably.
When the cat is away, will the mice play?
Where is our revenue stream, Dave? It should be knowledgeable by Probe shareholders that Agnico-Eagle has applied for a permit to increase the size of their milling operations at Goldex thus expanding gold production in the future. According to the diagram on our website there is a considerable amount of gold on the claims we turned over to Agnico for the royalty.
A professional status report from Goldex concerning our claims of interest is long overdue.
Does anyone feel the same way?