Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: Hopsalong who wrote (15599)	5/4/2002 8:32:35 PM
From: MIRU	Respond to of 15703

Well, if the JOA is "ambiguous", then it is worthless, except to lawyers, of course. How about this - The juniors surely have paid for and earned an interest in #1 and #2, and maybe any recompletion on the 1R, plus paying at least some of the costs in #4 and #9 should give them some interest there. (PYR has or will pay all of its obligated costs) They should be able to "go non-consent" and have APC et al pay the juniors share, recover 300% (I'm guessing)of the costs, and let the juniors back in. Or, renegotiate the interests of the juniors down to accomplish an equivalent economic opportunity. The soon-to-be resolved hangup(I hope) is the argument about netting out #1 revenues against later expenses. There is probably a lot we don't know, but I don't see that the juniors will be squeezed out unless that is their best choice - they have surely already earned something of value here, assuming there is value in ELH.