awHi wangotango. re: POR sale/assign of HMW agreement: You clearly have spent a considerable amount of time on writing out your comments and I commend you on that. POR has room for improvement on wording of their NR, certainly. The manner in which you have expressed your concerns, however, leads me to believe you either have some failed personal relationship with the company or some other ulterior motives.
I have a few general comments to some of your misleading points. I re-read a number of POR news releases and financial statements and communicated directly with the company on several of your issues. You should do the same.
The assignment/sale of the HMW option consolidates the landholding for Galan- yes, that’s good for Galan. POR spent less on HMW than the value to be received, thus POR should be able to report a gain on the transaction, assuming it closes. (Good for POR!) POR is assigning the underlying claimholder agreement (BTW its an individual Argentine resident- not a Li producer/developer) to Galan (approx. US$400k of payments plus 1 mil shares) and Galan will take on those obligations, therefore POR is also released from any additional property payments. (Good for POR) POR will be exposed to additional projects in the HM salar through the Galan shares ownership to be received. (Also good for POR!)
As noted in previous NR and POR Financial statements - the claimholder wanted to terminate/renegotiate the agreement with POR- seems the relationship was also strained and if so, this is a win-win-win for all parties involved.