"Unencumbered" simply means that there are no claims against the title of the property (i.e., liens, mortgages, easements (like right of ways, rights of ingress or egresss). "Fee simple" title is the largest legal right to real property recognized in the States. That's good, but it really doesn't address the issues I raise which include:
What sort of time frame are we on following a letter of intent?
How long and how much due diligence will the S/A entity want or require?
What is the permitting process once the deal is done, and how long will it take?
This part of "coal country" is notoriously difficult to mine. Seams do not run at consistent depths, water cuts through the properties and a seam may run for a certain distance at a certain depth and then drop or rise a considerable distance.
What company has had success mining in this area?
Who owns large mineable tracts in Grundy County, Tennessee?
Who are the contract mining companies actively taking surface coal in Grundy County, Tennessee?
What does the 1600 page Dickson, Sullivan report offer us on these issues?
What we need access to is a coal company lawyer or a mining company representative. Any other thoughts on who might know the answers to these types of questions? Mr. Levine must have some measure of knowlege concerning these types of questions if a JV is on the table.
Does any of this matter?!?!?!? |
