RE:RE:RE:question about palisadesJRafflesUK wrote:
As noted, the legal case has an impact on Pallisades, but this also has a lesser, but also adverse impact on NFG since the NFG board of directors (with knowledge of the drilling prospects) approved the share transfer, though NFG did not benefit.
Setting the above aside, if NFG's property were to be sold at a high price, the funds would be under direct control of NFG shareholders. In contrast, shareholders in Pallisade would be subject to the investment/distribution decisions of the CK controlling Pallisade shareholder / director.
The case will most likely be settled out of court but who knows it may go to court .Pallisade holds approx. 23 million of its shares that are in question here .Did they know what the drill results would be before the purchase proably not .Did they expect the results would be good of course they did are esle they wouldn't, of bought them out .If they would of came up short thier wouldn't of been a claim at all and the sellers would of been over joyed they sold.The only question is if Pallisade had any prior knowledge to the drill results this is highly unlikely that they did .They most likely just had a feeling they had something or the potential of having something .
The previous owners and thier lawyers are just looking for a pay day and the lawyers will milk this thing as long as someone keeps paying them .
All this being said if anyone was to take Newfound gold over Iam sure they would prefer this worked out before hand either in the courts or by settlement .Unless they bought everything but the shares in question those could remain in the hands of Pallisade to be settled in court by this time it would represent a small % of the total over all shares outstanding
I personally hope this gets settled sooner rather than latter cleaner is always better