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Gold/Mining/Energy : Winspear Resources
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To: Walt who wrote (15984)3/17/1999 12:15:00 PM
From: average joe  Read Replies (1) of 26850
 
There are provisions for expenditures in the ABZ/WSP JV
agreement. If proper notification was not given by the
operator WSP to the non-operator ABZ then ABZ does not
have to pay. If notification was given and ABZ did not
want to participate they would then suffer dilution of
their interest.

No two JV Agreements are the same but the all contain
industry standard terms before the first nickel is spent.

There are a couple of good books on mining agreements, one
I would suggest for you Walt is "Mining Exploration Agreements"
that is available through the Centre for Resource Studies
ot Queen's University at Kingston. I think you are referring
mostly to Letters of Intent, which is the preamble to a mining
exploration agreement, the usually say at the end, "if economic
mineralization is found a more formal (i.e. industry standard agreement will be entered into).

average joe
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