GREY:ADEXF - Post by User
Comment by
greenandgoldon Sep 15, 2011 8:41am
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Post# 19044379
RE: RE: July 27th Press Release......
RE: RE: July 27th Press Release......Please provide a link. There's a July 27th, 2011 press release on the website but it's about drilling results at Tuktu. No mention of XinXing.
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Regardless the very latest press release says AXI and XinXing are "finalizing" the formal joint venture agreement and terms and conditions associated with implementation of the joint venture. Don't say it's OVER and done when it is obviously not finished. They have a framework agreement but they are still negotiating final terms. IF the formal joint venture is done, then where's the $20 million that's supposed to be advanced to AXI on signing of the agreement?
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XinXing is supposed to be paying the $20 million costs of the feasibility study. They haven't signed the formal joint venture agreement, they haven't advanced $20 million to AXI, and progress on the feasibility study will be delayed until they do.