Advanced Explorations Inc. ADEXF

From AXI's May 30, 2001 Management Information Cir

[greenandgold]

"The parties are negotiating a Joint Venture Agreement based upon the terms set out in the Framework Agreement. No agreement has been entered into as of the date of this Information Circular."
*
There is no deal, there's no de facto deal, there's just negotiating.
*
"XDIP (XinXing) will make an initial contribution of paying for the Feasibility Study ($20 million) and at this time, and not before the Company (AXI) will contribute its 49.9% interest in the Roche Bay project to the Joint Venture."
*
The above indicates that a lump sum payment of $20 million will be XinXing's initial contribution. 
*
"The funds contributed by XDIP will be used to complete a definitive feasibility study for Roche Bay."
*
The above implies the lump sum payment of $20 million comes before the completion of the feasiblity study.
*
XinXing is not paying for the feasibility study in dribs and drabs! When the formal Joint Venture Agreement is signed, they will give AXI a lump sum of $20 million dollars, and not a day before. Then AXI will use that $20 million to fund the cost of completing the feasibility study. It happens in that order: Sign Joint Venture, Receive $20 million, Complete Feasibility Study. Every other scenario is imaginary.