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Gold/Mining/Energy : Millstream Mines (MLSM)
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To: RICK who wrote (406)10/22/1999 9:32:00 AM
From: hugh thorne   of 664
 
Rick good posts as always.

I haven't gone back to read the details of the HDG deal but it strikes me that unwinding it should not prove difficult although it probably couldn't occur until after Dec 31st 1999. As previously mentioned, MLSM would probably only have tranferred rights to Potter to the LP. HDG expend funds through the LP in order to obtain the flow though benefits of the exploration expenses. So essentially the Lp has a busy income statement and a rather empty balance sheet unless they proceed and really shore up numbers. Anyway, the LP does it's statements as a Dec 31st 1999, floats down the expenses, the investors get their write off's and then HDG walk away.

The rights and all other assets of MLSM are retained by MLSM because they never transferred anything else to the LP.
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