Re: 8K out
in response to
by
posted on
Mar 21, 2014 07:15PM
Combining Classic Mineral Exploration with State of the Art Technology
I'm certain that venture capital corporations have many charter requirements and guidelines for allocation, and I'm betting all of them require that the target company's claims, intellectual property, real estate, etc. must be free of liens, that litigious actions must be settled, et al. Nobody wants any more of a unknown quantity/wild card than is strictly inherent to the enterprise or sector.
I'm guessing having a lien on the claims and hence holding up the forgiveness of $5M in debt would be a deal breaker for many firms looking to invest in a LBSR drilling program, especially if the court could potentially exact punitive penalties.. I'm glad to have it mostly past us and I look forward to seeing finite totals for what we pay the MBGS subcontractors. With the O/S approaching 900B, it's time to make it happen.