SO, It looks like NBRI is trying to keep it's interests in it's properties separate from RGI; when the Ruby finally mines the gold and NBRI starts to develope the other claims then RGI can not claim any of the funds from those properties.
So, Is Perry Leopold "President" of both entities, NBRI and RGI.
Or , are the Directors of RGI , the managing body there and Leopold is President of NBRI.
I just glanced at the JV Agreement...and my take from this glance is it looks like instead of NB defaulting on a note, they are taking on property note holder as 50% partner. Partner is not NBRI, But rather the Ruby original owner (Frederking estate - Ruby Gold). Nbri will put in capital and some management experience. Ruby retains ownership of equipment and claims that were there pre nbri. If NBRI can't meet it's obligation, then JV could dissolve and fully developed mine could go back to Ruby. Could this be the beginning of the end of NBRI at the Ruby? Stay tuned.
News 
Market Data 
Discover 
AI
