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 : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: Lorne who wrote (18618)	4/27/1999 2:02:00 PM
From: average joe	Respond to of 26850

Another thing that was mentioned awhile back was that until the difficulty both sides had a loose arrangement with the JV and did not follow it to the letter. In other words WSP needed some cash and rather than writing a formal letter would simply pick up the phone and advise ABZ how much they needed. The difficulty seemed to occur when a JV meeting was called (written here before) at such a time that ABZ could not attend. Then they got real formal with each other! aj

To: Lorne who wrote (18618)	4/27/1999 2:03:00 PM
From: Gord Bolton	Read Replies (1) \| Respond to of 26850

The facts that matter do not seem to be in dispute. Aber could have made arrangements for raising financing for their share of the JV. THey could have notified Winspear that they intended to participate. And they could have sent some kind of security, check, iou, or whatever to provide Winspear with proof of their intentions but they did not. Winspear had to make other arrangements to fully fund and insure the success of the program. Both parties agree that there were discussions going on whereby cash and or shares would be flowing in the other direction. The fact that they could not come to an agreement on that matter would not excuse Aber from their obligations to the existing contract-if they wanted to maintain their percentage. Everything indicates that they did not. Shortage of cash or negligence in making arrangements will not excuse Aber from the terms of the JV Cantract.