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Re: StealthSwimmer post# 36925

Monday, 11/15/2010 11:56:31 AM

Monday, November 15, 2010 11:56:31 AM

Post# of 173240
Stealth,

The key here, and the reason why drilling on the "purchased claims" is so exciting, is the fact that the JV and the purchase/loan are interdependent. As pointed out by OMO, if the JV falters then the land is reclaimed. If NAK hits metal and finds something of significance it all but guarantees they move forward since the land doesn't belong to them without the JV.



I am not sure that your interpretation of the agreement is accurate. While I see where the purchase and the loan are interdependent, I have not seen where the purchase/loan and the JV are interdependent.

Could some other informed posters help us out? Stealth's point, if accurate, is extremely important.
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