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North American Gem Inc V.NAG



TSXV:NAG - Post by User

Bullboard Posts
Comment by Kitman60on Jun 12, 2008 11:25pm
243 Views
Post# 15180650

RE: Quiet BB Day...some thoughts...

RE: Quiet BB Day...some thoughts...
Clemmie70

Thanks for sharing your thoughts.

I think what I'd really like to know is the significance of this 'first in line / priority sequence' business.  There's been some opinions posted on this subject before, but I'm still unclear on how the whole thing works.

I'm sure that there are circumstances where companies have submitted their applications and only get first in line / priority sequence for just a portion of their applications.  If that's the case, how is it determined who is next in line to apply for the permits?  No doubt this is one of the questions on your list for Thera.

Just a theoretical example here: if WGF (applications in before NAG) states that they've received a Comfort Letter indicating they've been given priority status on 'the majority' of their applications, then that means up to possibly 49% of their apps don't have priority status.  So can someone else 'inherit' priority on those particular applied-for areas?  NAG for example? Or would WGF simply retain the application rights to those areas and just have to wait until Sask E & R gets to the bottom of the pile to process them?  The only consequence being that they have to wait longer to receive their CPP's; and of course not have drills turning.

I guess what I'm really trying to find out here is: "can applied-for land be scooped up by someone else if the original party does not receive first in line priority status?"  Hence the word 'trump'.  

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Bullboard Posts