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Wednesday, January 26, 2022 9:47:57 PM
As I said when Mexus first mentioned the NDA. The whole point of an NDA is that both parties are prohibited from discussing the potential action from anyone other than the select few individuals who need to know in order to carry out the transaction. NDA's are not for public dissemination they are put in place for the exact opposite reason.
Additionally, LOI's are not usually disclosed publicly (although I've seen times where they were). Mainly the LOI is put in place once a decision to buy (or JV) is determined. From there, the real due diligence begins and all of the information disclosed during the initial negotiations are verified. This is where details the selling company claimed (in this case Mexus) are verified for accuracy by the purchasing company. If the facts disclosed don't add up (Financials, P&L etc. - or likely in this case drill results, assays, ore reserve estimates etc) then the buying company can walk away.
In most situations both companies like to keep these stages of the conversation quiet. Instead Mexus broadcast every step. That, to me, comes across more as pump than a legit JV opportunity.
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