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Gold/Mining/Energy : Bema(Bgo) and Arizona Star -- Ignore unavailable to you. Want to Upgrade?

To: Lorne Larson who wrote (8131)10/28/1997 9:28:00 PM
From: the Chief  Read Replies (1) | Respond to of 10482
 
Lorne as you have said"only granting of an option" is the key!!

Clive hasn't disposed of 1/2 of CC, he's signed a low cost "lease agreement" that allows the lessee to return it in 2 years if he doesn't like it any more. Its like a "up and comer" who wants to impress the high rollers. He goes in leases a Jaguar convertible, he gets to drive it for 2 years and have all his buddies think he "owns" the Jag. But, if he doesn't like the Jag he can return it "no charge" 2 years later.

What the lessor gets, is a 2 year old Jaguar that isn't quite as easy to lease or even sell the second time around.

the Chief



To: Lorne Larson who wrote (8131)10/29/1997 2:56:00 PM
From: Goldberry  Read Replies (1) | Respond to of 10482
 
Lorne I think you will find that the lawyers have dealt with this. The way around a sale is they have entered into a J/V agreement with Placer and Arizona to develop the property. It still belongs to Bema And Star as to 49% & 51%. The return from the joint venture will be 51% to Placer the balance shared by Bema and Star.

Graham


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