OTCQB:GTAGF - Post by User
Comment by
99921on Mar 08, 2012 6:01pm
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Post# 19646312
RE: Partnership
RE: Partnership ganja: Here is some wording from the 2011 Golden Minerals annual report. That report also confirms that GOG is now the operator of the San Diego property although I believe a third party was operator until the dispute was settled. You can access the AUM report through the SEC on the Web if you want to read more. I have no direct knowledge but would expect that GOG would be free to sell its interest in San Diego. The AUM report says that the San Diego geology is similar to Valardena but that it contains less gold.
"We hold the San Diego exploration property in Mexico in a 50-50 joint venture with Golden Tag Resources Ltd. Our interest in the San Diego property is subject to the risks normally associated with the conduct of joint ventures. A disagreement between joint venture partners on how to conduct business efficiently, the inability of joint venture partners to meet their obligations to the joint venture or third parties, or litigation arising between joint venturepartners regarding joint venture matters could have a material adverse effect on the viability of our interests held through the joint venture. For example, in 2009, ECU received a notice of arbitration from Golden Tag Resources Ltd. The dispute was settled in September 2010 and resulted in an increase in ECU's mining property costs of approximately $61,000."