RE:JL deposition Chapter 6 It is so apparent now, JRL had no intention of paying for the concessions to keep them in process and up to date. He had no intention of paying for a survey. He couldn't even get to...or get on his Amarillos Sur or Norte properties. They were completely surrounded by Barrick concessions and Barrick had the only road in.
Whatwas he going to do? Parachute in?
No...Jorge found a way to raise lots of money with the help of MSX and BJ, and all he had to do was ro keep filing extraneous lawsuits, to pretend he was fighting to complete his commitment to the option agreement.
There was no oversight of his expenditures. What did he spend it on? ....other properties, gravel pits, iron ore properties, high living, family, trucks, gambling, drugs, liquor, women?? I want to know where $10.0 million dollars went? Yes some went to paying JGT and advancing lawsuits, but maybe that was $1.0-1.5 million dollars over 12 years. Another. $1.0 million for expenses and general fixed corporate MSX expenses. Where is the balance? Squandered?...after fleecing peoples hard earned savings and retirements?
JRL owes the shareholders of MSX their investments back because he did not complete his end of the Option Agreement in good faith. He never intended to...he just wanted a constant flow of cash he didn't have to work for IMO.