RE:RE:RE:GOOD FAITH!Puckhog,
DD is always done upfront but behind the scenes in conjunction with negotiations.
To say they went through a long negotiation process, agreed to to enter a non binding deal except to grant Cunning a 2 month exclusive in return for nuthin is NOT HOW THIS business works.....at least not legitimate business imho..............
THey could have entered a deal subject to DD. They did not. Or just announced it given they had lots of time for DD,
A great example is ALamos and AR. THey announced a BINDING deal cuz they did the DD behind the scenes! Thatst the way it works! You sign an NDA, likely containing a standstill, and start your DD. Then you try to finalize an agreement. When you have, you announce deal! In Alamos's case, they invested some $$$$ in AR until the deal closes (still subject to shareholder vote).
THis is an upside down red flag NON-deal imho!!!
Its amateur hour.
PUCKHOG wrote: Larry "good faith" is a legal term, used in many contracts. It requires the parties to do or not do certain things, What were they doing during " a long negotiating period": obviously negotiating, to get the basics (ie. terms and price in place.) "Due diligence" would probably invovle investigating if the gold really is there, by examining documents of the history of Treaty Creek. This might take a week or maybe two. Once that is done the parties can sign a binding contract. Not rocket science and done many times before. Up early tommorow Larry!