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Gold/Mining/Energy : ORXX - Orex Gold Mines Corporation
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To: Jeffrey S. Mitchell who wrote (2315)1/31/2000 3:17:00 PM
From: Jeffrey S. Mitchell  Read Replies (1) of 2392
 
Re: Further notes of ORXX's ownership of the Santa Maria Mine

It's clear Thomas Mills owned the Santa Maria Mine (SMM) circa 1987, and it's clear he was still the owner in 1998. It is also clear Mills is one of three partners in the Santa Maria Mining Company (SMCC) that was acquired by ORXX. The big question is whether ORXX acquired the rights to the SMM when they acquired SMMC. Nowhere in the Merger Agreement is there any mention of such a transfer of ownership. Therefore, unless I misread the Merger Agreement, the only logical conclusion is that while Thomas Mills may have allowed ORXX free use of his property, there is no reason to draw the conclusion that Mills ever sold the property to ORXX.

- Jeff
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