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Gold/Mining/Energy : Western Logic Resources WLT-VSE $$$
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To: Doc who wrote (57)4/2/1998 3:07:00 PM
From: SAM-DAN  Read Replies (1) of 112
 
I am only an investor in wlt but have spoken to people in Nevada-particularly in the land title office. Apparently the lease agreement had a provision that was not disclosed to wlt by the vendors that if the first drill target was dry Wlt would lose their rights to the leases.Nobody in their right mind would agree to that type of a deal so I presume once WLT found this out[a bit late in the game for my liking] they naturally declined to continue with the project.Have heard there may still be life in the project but WLT better do a better job of due diligence before dealing with the same people.I can't swear re above info but my source has no ax to grind and the deal did fall apart.
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