What am I missing From last post:
Now forward to August 5th,2011, Waterton enters Golden Phoenix's world providing the $15 milllion debt facility to get Panama up and running, Scorpio gives up its buyout right to the remaining 20% of Mr, for getting reduced commercial production levels and no longer required to do the feasibility study. No discussion from this point on of updating the 43-101 in MD&A quarterlies.
Why would Sorpio give any right to a buyout for this? My understanding is that until a certain prodution level was reached Scorpio did not have the right to a buyout, just more time of the same ol same O, so with this they give up the right to a buyout of Golden Phoenix's portion anyway? Why would they care to get a lower production amount in the deal anyway? What are they gaining? Only one here is Waterton gaining a grip on GoldenPhoenix's share of the mountain. Nobody gives up something unless they gain something of value in return. The thing this says Scorpio gained make no sense to me?????Someone help me out here.