Replies to post #120636 on Southridge Enterprises Inc (SRGE)

[zambia123]

that's their side of the story who do you think the SEC would halt SRGE or Kinross. Our story will come out shortly

[Sooah]

Janice, from re-reading all the PRs, I am of the following opinion:

1. Moscosa/KGEM and Davies/SRGE met and the C.A. was signed in person between late November and December 13th. To say that the parties never met seems highly unlikely at this point because the evaluation process involves--amongst many other things--examining the physical samples that relate to the drilling results. No geologist would just look at the numbers contained in the results especially when there are bonanza grade involved.

2. Kinross and SRGE effected at least a "first draft" or a "preliminary draft" of a J.V. agreement following signing of the C.A., visits, inspections, evaluations...etc.

Southridge and its advisers are currently working hand in hand with Kinross to finalize the remaining documents and agreements in order to execute this new joint partnership for its Cinco Minas and Gran Cabrera properties with Kinross.

This portion of the PR suggests that the agreement had not been perfected and was expected to be perfected by mid January. Agreements by nature can be amended over time via new drafts of the same that supercede the former or by attaching a rider to the original agreement.

In any case, there appears to be information on Southridge's side to believe that an agreement for a J.V.--possibly in its preliminary stage--was signed and that a final agreement will be realized to give rise to their 12/26/12 announcement that declared Kinross as a new Joint Partner.

What I believe can be argued by Kinross is the <status> of the agreement (i.e. that since a final draft has not been signed there is no agreement and no partnership.> This, however, has become a legal argument on the part of Kinross now. If a preliminary/first draft J.V. agreement was signed, SRGE's PR of December 26, 2012 is indeed truthful. At December 26th, Southridge believed Kinross had become a partner and that belief came from the events that transpired between Nov to December.

http://finance.yahoo.com/news/southridge-announces-joint-partnership-kinross-140000696.html

Further, let me direct your attention to the PR again. Southridge never stated that a J.V. Agreement was finalized or signed. As a matter of fact, there is no mention of any signed agreement in this PR. What is actually stated is that they were working with Kinross to finalize the remaining documents and agreements. Not just one agreement but many, indicated by the plural use of the word <agreement>. On this basis, the forum accusation that SRGE lied about signing a joint partnership agreement is also incorrect as that is conjecture from the forum not an actual public statement made by the Company.

When Kinross issued a denial, the relationship immediately became unworkable. SRGE decided not to pursue the relationship further as they are others interested. I will explain in a separate post why Cinco Minas is being pursued by many.

A deal can be scrapped in the middle of a partnership discussion or even at the final stage. If it's a bad deal at the end or if a better one came along. Not hard to understand, is it?