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Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: Walt who wrote (15923)	3/17/1999 11:53:00 AM
From: Walt	Read Replies (1) \| Respond to of 26850

Aber vs Winspear Ok I'll start off by saying I have followed both Aber and WSP for years and like both companies. They have both changed alot since this JV agreement was entered into.They both were junior exploration companies (much smaller then they are now when the agreement started) In the industry there is no such thing as a standard option agreement or JV agreement, each is different. I've seen dozens over the years and even written a few and they can vary from a few sentences of intent on a piece of paper both parties sign to major tomes hundreds of pages long which only lawyers can read and understand. So it is impossible to judge this unless one were privy to the terms of the agreement. Also there is the question of precedent and intent. What was the original intent of the agreement and how has it been administered by both parties over the years. I hate to say it but in the industry what happens over the years often doesn't follow the agreements and this of course sets precedent. This is just a personal example but one time I had an option agreement with a company and for several years all went well no problem getting info etc then there was a major change of personell in the company and I was suddenly dealing with people I didnt know. When I made a request for information, according to the agreement at first they balked and we got in a bit of a fight. Then it turned out no one in their head office could even find a copy of the original agreement nor the ammendments to it. They had been working on the property for a couple years without even knowing what the terms of the agreement were. So I had to go to the old safety deposit box and copy them out a copy of the agreement. The point here is that things can go fine for years then a dispute arises and suddenly people have to reread the original agreements to see what it specifies. Agreements at some times tend to get filed away and forgotten. I have followed a number of court cases over agreements in the industry and alot depends on the Judge and how he interrupts things. So I think it is way too premature to judge this one. Since I like both companies I feel really sad that it has come to this but it is still a long way from becoming a court case yet and I hope the parties can work things out before then. In the mean time, untill more information comes out, I think it is unfortunate that posters bash each other or the companies involved over this. Trueth be told alot of people own shares in both companies. So personally I hope both sides can work this out without it having to go to court. After all win or lose both companies will remain JV partners of some sort on this property and JV partners working together sure beats them fighting each other. regards Walt