TSXV:NORA.H - Post by User
Comment by
bplondonon Feb 16, 2012 9:28pm
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Post# 19547130
RE: RE: RE: Orko Silver Provides an Update of Acti
RE: RE: RE: Orko Silver Provides an Update of Acti Yup, your answer is right in the email you received from Orko. Here's the way it works. PAA's obligation to go to Phase 2 is contigent upon the project being viable. If it's not, they can further delay 1 year, or they could exit the project. If it is viable (which it is) the only way you even progress to Phase 2 is if PAA presents a budget and timeline acceptable to Orko. You can rest assured that Orko will be giving notice that at the end of Phase 1, on April 12 or July 12, if PAA takes the extension, that Orko will be exiting the JV unless an acceptable budget and timeline is tabled.
That's it. Seems very straight forward to me.