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Gold/Mining/Energy : Geodex Resources - GXM.V (was Agate Bay ABE)
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To: fivedollar who wrote (29)5/29/1997 12:43:00 PM
From: GWalker   of 210
 
As I understand the snag in the deal is based on a minning claim which clips the corner of the property. And it is Cyprus who are the claim holder, so it is in all of the parties best interest to clear eveything up. It was Inmet who found out about the situation and brought it to the attention of Cyprus. Even if things can't be worked out for whatever reason, they can change the placement of the mine in order to work around it. Not an ideal solution, but it will allow Agate and Inmet that much more leverage in dealing with Cyprus on this issue. If you look at this in the long term it may have been very wise of Inmet to bring this issue up, sooner or later Cyprus would have found out about it and after the mine is set up it could have resulted in big legal issues.

Short term pain, Long term gain... I hope!?

Graham

P.S. I love to find out about the money situation too, pretty darn important issue!!
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