Of particular interest to me is the question of the amount of the first tranche of funding the $180M purchase price for the 85% interest in the 1508 claims. Am I missing something? I don't see any reference to a number anywhere.
Secondly, what difference does it make if the purchasing party wants the contract executed in NY or Botswana. If JJ is interested in moving this contract forward and call the initial funding to activate the contract, then fly to the north pole buddy. Let's get it done.
Thirdly, the purchasing party does not have any legal ownership of the 1508 claims, per previously reported info from JJ et al. So this is an option to buy, and not an outright purchase. Jensen, the accountant refers to it as a JV option in his release of his financial statement for MDMN.
Fourth, the so called tunnel looks more like small dig on the side of a small hill. Please correct me, it does not look like much of a tunnel.
Fifth, the identity of our potential future buyer is now made public by GC. Now that other matters have been discussed, how long do we wait to find out who our current the purchasing party is? If the current deal goes south, then no need for a NDA for the next buyer in line as we already know who it is. Right folks?
Sixth, no mention of why the delay in funding except for the call from the purchasing party's attorney for the execution of the contract in NY. So JJ, what's the problem. Go to NY, sign, take the originals to Chile and record, notarize, and by the way, bring along a check for the initial tranche, and deposit it. I don't care if you deposit it in Chile or in NY or Miami. Just deposit it.
Seventh, no comments from our newly hired securities attorney as to the validity of the insistence from the purchasing to require JJ to sign in NY. Whey do we have an attorney if we cannot get legal advice as to what the protocol should be when we reach sensitive points in our relationship with buyers.
If JJ does not do the job, then let's have a capable person negotiate the new terms with the new buyer, if we abandon this deal. I say, if we abandon this deal, as though we have one.
I did post that this deal was rife with contingencies about a week or so ago. So clear out the contingencies and move forward or cancel this deal and go with another buyer who is willing to perform.
I'll stop here.
As to the share price action today, this morning's action, IMHO is a sign of capitulation. If the share price closes in the lower range, then we have more bleeding. If it closes in the upper range, then it is over for now and we can look for a reversal or sideways trading pattern until these issues are resolved.
