RE: newsThe agreement in principle also provides that in the case of a merger, amalgamation, change in control, successful takeover bid or other similar event involving Dianor, all amounts then outstanding and owing to Mr. Leadbetter and the persons associated with him by Dianor under the agreement will become immediately due and payable at their sole and exclusive option, exercised on 30 days' notice.
defensive blocking mechanism plain and simple by the looks of things....... if anyone wants to take the company out it just got more expensive to the tune of an extra $5m.... small potatos for a major (who wouldnt necessarily be unwelcome), but enough to soften the cough of any opportunistic individuals....
Mr. Joseph Leadbetter and persons associated with him pursuant to which they have agreed to sell the surface rights to the Leadbetter Extension Property to Dianor
I may have this wrong but I believe that DOR can now rip into the diamondiferous surface gravel on the leadbetter extension without any permits and start sifting it for diamonds, gold, rubies and sapphires.... the 'footprint' of the conglomerate is largely on the leadbetter extension and the overlying gravels in this area belonged to Joe Leadbetter before this agreement.... the gravels overlying the conglomerate in the other part of the property are on 'crown lands' and therefore cannot be harvested.... I think
my understanding is they are allowed extract 10,000 tonnes per pit and the pits have to be 500m apart..... soemone care to look into Ontario's gravel mining by-laws to check this out?
consider the fact that the leadbetter conglomerate outcrop is 3km x 1km......the leadbetter extension property is approx. 8 square kilometres....... the gravel available for 'harvesting' is going to add up to a large amount of tonnage...... we could almost have an alluvial type operation here which could be run through the proposed DMS plant......
interesting......