LSG JV - catso123
posted on
Aug 07, 2010 10:37AM
WTM was the one to conduct the drilling on JV with PRB. However, Darren did not drill were David wanted. 3 holes no were close to the nearby Rusk Zone - 12.75 g/t over 83 m. Why? Your guess is as good as mine.
That´s exactly what I was talking about.
The big guys are playing with you if you give away control over your properties.
I was glad to see that Dave kept operatorship of the NOT JV. He should have done that with the WTM / LSG JV as well, or at least an alternating operatorship (as with NOT).
Because now, LSG can drill where they want, tell Dave they haven´t found anything and keep the little company suffering. And still get a majority holding of the JV.
Eventually, they negotiate new terms which are more favourable to them, because the claims are "worthless" !
Or they hide what they are doing and benefit from their actions much more than the little JV partner (or royalty holder: see Agnico Goldex Royalty).
It´s a shame that PRB seems to have a very weak position with these two very promising properties, which could catapult the company to new levels if the finds - which I think are there - would be confirmed.
At least the RoF and the two new properties are a different story, hopefully !
FANTOMAS