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Gold/Mining/Energy : ABER RESOURCES

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To: average joe who wrote (1068)	3/17/1999 8:07:00 PM
From: Gord Bolton	Read Replies (2) of 2006

Aber has already stated in their NR that they were notified and that they attended the meeting. What they did not do was confirm in writing that they wished to participate in the program as required by the contract. They have never given any formal indication that they intended to participate, nor have they put any money forward to cover the costs. These facts are not disputed. Winspear having received nothing from Aber elected to carry on with the program and fund it themselves. Given that there is a very narrow window for doing winter work in this area, how long would it be reasonable for Winspear to wait for Aber to formally respond? THe season would have been over. Winspear then notified Aber that in accordance with the contract Aber's % would be decreased in accordance with the contract. Aber has applied to the court apparently claiming that the terms of their contract are not fair, although they signed it freely and have apparently not had any complaints about it up till now. Law of Contracts 101- A contract is a contract. No judge is going to substitute something else where the parties have mutually agreed and put the terms in writing. Where there is a dispute between the parties please refer to the JV contract. If the contract spells out what will happen that is the end of the discussion. Aber mentions Estoppel in their NR. A more foolish thing could not be done. Winspear's arguement for double costs against Aber will be based upon Estoppel against Aber and will be won before the show in court ever starts. The B.C. Law and Equity Act was never intended to prevent business partners from fulfilling their obligations under written contracts. If Aber was interested in participating in the exploration program, all they ever had to do was to indicate such in writing and perhaps attach a check for their share of the costs. I rather doubt that the courts are going to feel a great deal of sympathy for Aber--at least not enough to interfere in a contract. The lawsuit initiated by Aber at this point is internal pr by the board for the consumption and distraction of shareholders. It will cost the shareholders more.

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