This really is fun reading. One of the best lines in that report is this beauty:
The issuer advises that none of the advances were based upon a written agreement. Further, none of the advances were based upon an oral agreement. More accurately, the advances were based upon only what might be described as an agreement to agree. As of April 15, 2011, there was no oral or written agreement between the issuer and Mr. Lopehandia.
Let's analyze this for a minute, and remember... this is the "issuer" (MWR) that created this report about advancing Jorge over a million bucks. So, the first line: "The issuer advises that none of the advances were based upon a written agreement." So after hearing Jorge's tale about Mina Pascua, did Brent feel so moved down to his inner soul that he just handed Jorge a cheque and said "Hey pal, here ya go... keep up the fight against those Barrick s.o.b's!"?
"Further, none of the advances were based upon an oral agreement."
So again, after Jorge described how costly it was to face-off against the ghastly mining behemoth, did BJ just peel off another check and say "go for it Jorge ol' buddy"? Was there no discussion about how the money would be paid back? Who would do business like that? For hundreds of thousands of dollars!... does anyone else think that would be crazy?
And this... "More accurately, the advances were based upon only what might be described as an agreement to agree". How would that sound like I wonder? Maybe something like this... "Here's another cheque for you Jorge. So what do ya say we talk about coming up with an agreement to work together someday?" Response... "Hmm, okay, I agree to talk with you some day about an agreement." And then... "Great, so we have an agreement that will be in agreement someday!"
And thus, a new way of doing business is born. Give away money without any security and without any agreement in place, but agree to make an agreement someday. It's just another fun part of this whole saga ain't it?
