Re: China buying miners
in response to
by
posted on
Nov 17, 2011 11:50AM
glad to know you perform diligence. you really jump through hoops - flaming ones.
No one is attacking anyone, don't get your panties in a bunch.
Are countries, companies, individuals more or less cautious when dealing with Chinese companies the answer is more cautious. why would that be? because they are trustworthy?
It's not just in Canada, Africa, S America, N America.
Thank goodness the Canadian courts work!
As Goldbrook Ventures Inc. ("Goldbrook") (TSX VENTURE:GBK) previously announced, on July 20, 2011 the Arbitration Tribunal issued a partial final award in respect of the arbitration relating to the purported dilution of Goldbrook's interest in the Nunavik Nickel Project. In that partial final award, the Arbitration Tribunal found that Goldbrook is entitled under the Shareholder, Joint Bid and Operating Agreement between Jilin Jien Nickel Industry Co., Ltd. ("JJNI"), Jien International Investment Ltd. ("JIIL") and Jien Canada Mining Ltd. ("Jien Canada"), dated August 6, 2009 (the "Shareholders Agreement") to be the holder of 25% of the voting shares of Jien Canada, the owner of the Nunavik Nickel Project, and that the purported dilution of Goldbrook's interest (the "September 21 Resolution") was not authorized by, and was contrary to the Shareholders Agreement. The Tribunal further directed that the parties make supplemental submissions on the issue of which parties were in breach of the Shareholders Agreement and the appropriate steps to be taken to restore Goldbrook's 25% interest.
On September 27, 2011, the Arbitration Tribunal issued a further partial final award on the supplementary issues (the "Award"). In the Award, the Arbitration Tribunal found that JJNI and JIIL breached the Shareholders Agreement by proposing and taking the benefit of the September 21 Resolution. The Arbitration Tribunal also found that Jien Canada breached the Shareholders Agreement by approving the September 21 Resolution.
In the Award, the Arbitration Tribunal further declared that the Units issued pursuant to the September 21 Resolution are invalid, null and void and directed the parties to discuss the steps that should be taken to cancel the Units, and to use their best efforts to agree on and implement those steps. The Arbitration Tribunal continues to reserve its jurisdiction to determine any further steps that the parties must take in light of that declaration for a further 30 days. The Arbitration Tribunal also continues to reserve its jurisdiction to decide all matters relating to the costs of this proceeding.