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Golden Goliath Resources Ltd V.GNG

Alternate Symbol(s):  GGTHF

Golden Goliath Resources Ltd. is a Canada-based junior exploration company. The Company is focused on exploring and developing about four rare earth element properties in Quebec and two gold properties in the Red Lake and Sault Ste. Marie Mining Districts of Ontario. It also holds a 100% interest in the San Timoteo property, located in the Sierra Madre Occidental Mountains of northwestern Mexico, as well as NSR royalties on seven other nearby properties. The four rare earth element properties in Quebec include Victory 21 Property, Citadell Property, Bedard Property, and Ernest Property. The Victory 21 Property includes about 18 map claims, 10 pending claims over 1200 hectares. The Citadell Property, Bedard Property and Ernest Property are located in Central Quebec, stable modern mining jurisdiction, which includes about 24, 22, and 34 map claims. Its Wish Ore Property is located 60 kilometers north of Sault Ste Marie. Its other properties include the Kwai Property and SLF Property.


TSXV:GNG - Post by User

Post by maldororon Oct 04, 2011 2:41am
274 Views
Post# 19115321

jv with AEM

jv with AEM Dec 7, 2010. "GNG is pleased to announce that it has signed a letter of intent and reached mutually acceptable terms for an option and joint venture agreement with a Mexican subsidiary of Agnico Eagle Mines Ltd. (Agnico) for the exploration and development of the company's Las Bolas and Las Hilos properties. The final agreement is expected to be signed in the next month"The above is a direct quote from the GNG press release.The prediction brings us to the end of January 2011. Now let me calculate. We are now in October 2011. January 2011 is 10 months away-in the past.First comment from GNG. The deal is in the hands of the lawyers.Second comment-I cannot comment. Third comment-I have given the reality of the deal.In general terms I believe that lawyers are deal breakers rather than deal makers. Agnico is an experienced deal maker. If the lawyers of AEM find something in the JV agreement that is not up to par, they communicate that to AEM and AEM communicates the discrepancy to GNG and their lawyers.GNG has a big size property in Mexico. GNG just raised $2 million which is a small amount relative to the monies needed to fully explore the Mexican properties.Current market conditions are not conducive to juniors raising exploration monies. Hence the JV is important.So far there is no rational explanation for the delay to formally sign the JV agreement.We are shareholders of GNG and are therefore interested in receiving accurate and timely information of corporate information (that includes negative news)MaldororIf the delay is for a material reason GNG is obliged to report it. If the delay is caused by minor reasons ..why the 10 month delay?The delay therefore raises doubts.
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