To: Lorne who wrote (1234 ) 4/6/1999 12:54:00 AM From: Gord Bolton Read Replies (1) | Respond to of 2006
From a post on Stockwatch by Lee M. Webb "16. On or about December 11, 1997, the Operator presented a proposed 1998 Exploration Program to Aber which contemplated exploration expenditures on the Mining Properties. In accordance with the Informal Practice, this was presented to Aber prior to the Management Committee meeting at which same would be considered. 17. On or about December 22, 1997, the Management Committee met to approve the proposed 1998 Budget and Exploration Program. At that meeting, Aber orally informed the Operator that it might not elect to participate in the 1998 Exploration Program for the Camsell Lake Joint Venture. At the same meeting, Aber orally informed Winspear that Aber would participate in the 1998 exploration program developed under the Athenia Joint Venture. 18. In accordance with the Informal Practice, Winspear did not require written confirmation of Aber's intention to participate in the exploration program for the Athenia Joint Venture. However, Winspear did request that Aber confirm, in writing, its election not to participate in the 1998 Exploration Program for the Camsell Lake Joint Venture. 19. In accordance with the Informal Practice, Aber signed a confirmation in writing prepared by Winspear that Aber elected not to fund its pro rata share of the 1998 Exploration Program for the Camsell Lake Joint Venture in the amount of $2,683,192. This confirmation was delivered by Aber to Winspear on or about February 2, 1998. Aber was also asked to acknowledge in writing its approval of the budget in relation to the Athenia Joint Venture, but Aber was not asked to provide written confirmation of Aber's intention to participate in the exploration program for the Athenia Joint Venture."and the Court Record will read assuming it doesn't get scratched. Cross examination of Mr. R.Turner by the Plaintiff's Counsell HS: Ahem, ahem, er ah Mr. Turner isn't it true that you asked Aber to sign a document confirming that Aber would not be participating in the 1998 winter program? RT: Yes. HS: Ahem, ahem, er ah Mr. Turner isn't it true that you asked Aber to sign the approved budget for the 1998 Athenia program? RT: Yes. HS Ahem, ahem, er ah Mr. Turner isn't it true that you didn't ask Aber to sign the 1999 Winter Exploration Budget? RT: Yes, that is true, but then again, I certainly didn't stop them. HS: Ahem, ahem, er ah I see. Um ah, isn't it true Mr. Turner that you wanted to take away Aber's share of Snap Lake? RT: Well that wouldn't be quite accurate. We er ah Winspear did in fact make a substantial offer for Aber's percentage. However, if they preferred to substitute a percentage in lieu of a cash contribution, we would be quite happy with that. HS: Ahem well uh yes I see but ah Mr. Turner didn't you have a duty to represent Aber and counsell Aber as to the implications of not participating er ah I mean not paying er ah I mean not giving notice that they intended to benefit er ah I mean participate in the program. RT: Well actually Mr. Shapray, I was representing Winspear in the matter. As you might be aware Aber has it's own board and counsell. HS: Oh, well I see, um ah, no further questions Your Honour. The Judge: Don't tell me that was your case Mr. Shapray! I have never seen a bigger waste of this court's time. Approach the bench please and bring your wallets.