Hello Mr Baker. I hope you are doing well.
You have done an excellent job for shareholders by securing an excellent JV for 50 million several years ago. You have done a fantastic job by securing a deal with JJ for our 25% in this project. I think that you understand the value of our 25% and the more time that passes the more value will be revealed.
But what you need to realize is that the valuations for these resources will move significantly higher in the coming months and years. Currently there are trilions of dollars in money markets and bonds around the world. This is nervous money or money that is sitting on the sidelines. People are not sure about what will happen next in this global economy. Right now there is a deflationary fear but in time this deflationary fear will turn the other way. Because so much money has been pumped into the system it is only a matter of time before prices start to move up. People wont feel good about declining bond prices and 1% money market returns so this hot money will want to find a home. Trillions of these dollars will be frantic for assets. Prices for commodaties will surge. The revenues will be substantial for our 25%.
If JJ does not want to be fair then lets get an escrow account set up through the courts. I don't think that they would like the courts picking over all this information but they are leaving us with little choice.
Look, we gave up 25% and they are still not happy. This seems like they are being greedy to me.
Exceelent job!