GREY:ADEXF - Post by User
Comment by
greenandgoldon Sep 21, 2011 11:57am
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Post# 19066397
RE: Behr
RE: BehrAXI's MOU and its framework agreement for negotiations in no way equals a binding Joint Venture Agreement, simple or otherwise. XinXing has not paid a penny towards the feasibility study--why would they give a penny, nevermind $20 million dollars to AXI, without a legal agreement as to their rights in the project? That would be foolish.
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And there's evidence XinXing hasn't been funding Roche Bay's feasibility study. The 15,000 meter drilling program, announced in January, and which would have cost at least $8 million, has now been drastically reduced in scale.
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Your apologies for this company border on the ridiculous. Century Iron Ore's signed and executed "Joint Venture Agreement" means nothing without the Joint Venture company being incorporated (which is a technical formality), but AXI's framework agreement and MOW equals a "simplified Joint Venture agreement"? Absurd.