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RESERVOIR MINERALS INC V.RMC

"Reservoir Minerals Inc is engaged in the acquisition, exploration and development of mineral properties in Serbia, Cameroon, Gabon, Macedonia and Romania."


TSXV:RMC - Post by User

Comment by cd673on May 06, 2015 10:25am
100 Views
Post# 23699214

RE:RE:RE:RE:News soon?

RE:RE:RE:RE:News soon?I am not sure I agree with the assessment that Freeport solely controls the situation here. Read the jv. first of all there are a lot of aspects of the agreement that will take some time to be fully operationalized and that could be causing some delay here. But in any event the joint venture now controls the property and owns all of the assets including the drill holes and cores that have been completed. And in progress. the joint venture would be obligated as a part of its fiduciary responsibilities to complete the assays of the holes - it would be in breach of the agreement if it did not do so. and it is required to release any information that it has to reservoir upon 30 days request.it is also obligated to produce a work plan to correspond to the budget that has been set for 2015. That budget and the work plan should at some point to be reviewed with in the first quarter by the Technical Committee which is obligated to meet and to confirm the 2015 operational plan.if the joint venture did not plan to complete the assays, as obligated, reservoir as a shareholder would be in a position to request the completion of the assays at its own expense if it chose to do so. Freeport may be able to slow things down a little bit if it chose to do so. but it's ultimate interests are aligned with those of reservoir so we should see forward progress. so it is just a matter of time until we see the results. In the meantime we are forced to be patient. we lost the year the agreement was being put together but I highly doubt we will lose another year.
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