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Re: 2create post# 16357

Monday, 08/28/2006 7:52:40 PM

Monday, August 28, 2006 7:52:40 PM

Post# of 115222
2c, the word "subsidiary" has a very specific business meaning and the only two "sites" listed as subsidiaries are Alaska and Sirius. "Subsidiary" suggests ownership. I have seen no indication that Aurus owns Ruda, for example, although I would not be surprised if we have a joint-activity agreement with them. Many of the "sites" listed on the websites constitute reserves acquired through share agreements, and are not wholly-owned subsidiaries.

Again, just trying to prevent potential owners from misunderstanding what they are getting into when they buy. The reserves are owned by Aurus via licencing and agreements, but Aurus does not own, in most cases, the companies that provided those reserves.