Lion Copper and Gold Corp. V.LEO

Water Rights

[jsladek]

The press release announcing that QTA had lost their water rights cut the price in half.   Are the water water rights really worth as much as the copper in the ground, because that's what the market seems to be saying?

Anyhow, Ouch!

[jsladek]

I recall that they sold some water right in the past for cash.  Possibly the concern is that they will have to pay back some or all of the $.

[defcon1]

The Company has the right to appeal within 30 days from July 23, 2021, and has retained legal counsel to initiate the appeal process. Should the appeal be unsuccessful or Desert Pearl elects to terminate the Agreement, the Company will have to return the $1,000,000 initial payment to Desert Pearl. The $1,900,000 balance of the water rights proceeds will be forfeited.

[jsladek]

I hope that they win the appeal. I obviously don't know what the terms of the deal were or what the Nevada state law is regarding water rights, and consequently have no idea of their likelyhood of success. The concern that I have is that the reasons stated by the state don't seem unreasonable.  There is a drought and the amount of water available water is down.  QTA has water

[patchh]

thats correct - QTA sold and had their water rites siezed..  chances they win as to do w benificia use = nill ! Yearington is building a NEW water reclmation distrik for the new mines - feds gave the city a few million a couple years ago... don't worry about the water.. that property line sits on the border(east) of Nevada Copper..  two of the reclamation ponds hav already been