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Gold/Mining/Energy : JAB International (JABI)
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To: Brian Pastor who wrote (3504)4/17/1998 4:44:00 PM
From: Charger  Read Replies (2) of 4571
 
Brian - my understanding of the JV arrangement seems to be a bit different than yours. As Jim stood there, at the mine, and patiently explained the arrangement to popg and me, it ran more like this: The money coming in from the JV is to be used for mining and development of future mines within their property. The diamond part of BCMD has nothing to do with their current JV deal. (I know you didnt say it was, just re-iterating.)

Any mine which is developed during the period of time (the 18 months) that the JV is funneling money into the company, the JV gets a percentage of (30% was it? - or whatever that percentage figure was back last November)...gets a percentage of the proceeds off of that particular mine. Any mines not yet developed by the end of that period, or any other acquisitions made by BCMD during that period, are not part of that JV percentage.

Please feel free to challenge me.

Perhaps we are saying the same thing and I just don't recognize it <g>

Charger
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