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Gold/Mining/Energy : ABER RESOURCES -- Ignore unavailable to you. Want to Upgrade?

To: average joe who wrote (1051)	3/17/1999 1:44:00 AM
From: marcos	Respond to of 2006

That's right, it is simple - No tickee, no laundry. Winspear is the operator and calls the shots while taking the majority of risks. Aber is either in or out, they ante up or they don't, and it looks like they didn't. So they lose share. Hasta la vista, compañeros. I think Fixer #reply-8348325 and Gord #reply-8358057 have nailed this right on.

To: average joe who wrote (1051)	3/17/1999 11:14:00 AM
From: Walt	Read Replies (2) \| Respond to of 2006

Sorry Joe, I've seen alot of JV agreements and few are as simple as you imply. Otherwise one partner could simply sit back and never approve a budget and either get a free ride or tie up the property forever. Also under the Canadian Mining regulations in the NWT, one partner can dilute out another simply by doing work on the claims,filing it for assesment work and paying all the fees. If no agreement has been filed with the mining recorder they go by their own set of rules. I will do a post on JV agreements I suggest you read because if you have been signing the type of agreement you outlined you have been short changing yourself. regards Walt

To: average joe who wrote (1051)	3/17/1999 2:46:00 PM
From: The Fix	Read Replies (1) \| Respond to of 2006

if ABZ did not approve the program prior to WSP commencing they do not have to pay up. Than I guess that ABZ gets diluted down! In all seriousness, Usually how it works is that WSP would submit a budget and ABZ would have 30 days to respond. ABZ didn't respond with cash and so this is saying that they will not participate in this years program. All contracts are settled when Cash changes hands. Cash is the final execution. It's simple......Not Rocket science. fIXER