Primo Resources - PRI.VSE Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Primo Resources - PRI.VSE

PII 70.66

-1.7%

4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: gian piero ciambella who wrote (570)	5/25/2000 7:56:00 PM
From: Leigh McBain	Read Replies (2) of 579

Ok, now I have the story straight, or at least I think I do. Primo has apparently being playing stalling games, which is NOT a big surprise, to try and buy time to raise the funds to participate in phase III. The companies are going to BINDING arbitration, both positions are represented by legal council and a third party lawyer (mutually agreed upon by both PII and GL) acts as the arbiter. A decision will be made in a maximum of 21 days, the losing party will be responsible for all legal costs involved and will be required to abide by the ruling. An unfavorable ruling for PII, will drop them below the 15% holding margin which effectively puts them in a position of holding an NSR and being out of the operational partnership. The go ahead approval from both GL and Mitsubishi has been tabled for over 30 days currently. Salut, Leigh McBain

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next