This is a classic example of how small the mining/exploration world is:

Nemis ( NOT ) and Watson ( FWR) have been friends for 25+ years

Now that it is easy to see how intertwined these plays are and how close everything is there is one more factor that should be counted. That is the age of the participants. The majority of them being in their 70s and 80s. This is their swan song and they are in a hurry.

What John D is getting hung up on is the signature on the dotted line. Now I ask you this, if you had a good working and friend relationship with an individual would you ask him to sign a note before you borrow him some money. I doubt that the thought would cross most of our minds.

The same with these guys. They are like family and their word is their bond and a handshake will do until the ink is dry. Thats the way they have been doing things for years.

Remember that they are all family and very a small family when you consider the size of the Canadian Mining Industry which is also quite small.

There is one more thing. Being the kind of people they are, will force them to continue on as they always have. So, every jv will be with a friend first. So the first jv was WSR. Then ADD and you can go from there though UC et al are already in the loop.

So John forget about signatures. First of all they don't matter with this group and secondly UC management is so close to NOT family that they would get their deal without a signature. That is why there is no reason to rush for signing although this is moot now since it is now signed.

Don't forget we are dealing with one big family when we deal with one or several of these plays. Of course the odd play may go their own way but when it comes down to getting top buck for the area you can bet that all plays involved will get along famaously....Don