Member Info for addicknt

NMM, I'm not sure I agree. In my opinion it's extremely important to be seen to be close to the action, specifically having the ability to maintain very close relationships with the various government agencies and their officials. Having the CEO leading this process will be seen as a strong commitment on our behalf to both the project and the country. Trying to do this remotely and with occasional visits is unlikely to achieve the same result. All IMO, obviously.

As far as the CIPA is concerned, I'd refer you to what SC said about the EA - it contains many of the provisions which will also appear in the CIPA - so, as I've said before, perhaps the urgency has gone of of the process, which would seem to be confirmed by the fact that FN/Osisko were happy to do the deal.

Pbow, thanks for that, although I'm still of the opinion they want him in situ in Quito...for good reason.

I'm not sure we can equate Solg with other established multi-national businesses. I see us as being more or less a start up (slight exaggeration, but you get my point?) and the location of the CEO close to the main operations is important.

As you say, the Disclosure Letter would tell us a great deal about our company that has never been revealed.

They will be committing 65% of their medium term capital allocation to future facing commodities.

Has anyone been able to locate the Disclosures document? It really would be interesting to get sight of it.

In keeping with the title of this thread, I noted a clause in the Purchase Agreement which stipulates the CEO must be located in Ecuador - if I've read it correctly.

This isn't exactly earth shattering but it does highlight one of the problems we had pre-Caldwell i.e not having the CEO in the right place, and this was noticed by FN/Osisko.

Due to the level of interaction with the government, this isn't surprising and is to our benefit, but I do wonder how much time we wasted by not having the senior man in Quito. And that's before we take into consideration the abysmal lack of management control that led to $4m going awol.

Q, I've just checked and it definitely was after the deal.

Q, not sure about that. I'm pretty certain it was after the deal had been announced.

Q, you mention dilution and that reminds me of what SC said towards the end of his last interview.

When asked about future financing he said something along the lines of equity will need to be raised, but it's a long way down the line. This statement passed without comment on this board.

Orthern, there most certainly isn't a pre-agreed sale...it would have to be announced.

The agreement gives no clue as to how far we will progress with the project, other than the terms of the financing, although the Change of Control provisions are interesting and are very much in our favour.

Not to hand, but it doesn't take a minute to find. The agreement is 230 pages and contains a wealth of interesting facts.

Sedar. The list is one of the appendices.

A list of the existing land purchase agreements and access rights can be found in the Purchase Agreement. There's an awful lot of them.

SR, it most definitely is not 'finished', and far from nothing happening over the next 18 months, in my opinion we'll see a great deal of action - although it may not be the takeover we all want to see.

Nal, at the time you and others went into a kind of group hysteria. You were telling us civil war had broken out and the cartels would seize Cascabel. According to you there would be no inward investment and Ecuador would be kicked out of the UN.

Of course none of this happened and Nobby has spent the intervening period cracking down on the cartels with a fair degree of success. As for business life, it has continued uninterrupted. You must be so upset that your nonsense didn't come to pass.

Pbow, how about Ecuador? I know a company who need civil engineers...allegedly.

Pbow, it's nor straightforward, but I don't see how multiple parties can have an equal charge over 100% of the assets unless FN cede their existing security, particularly if the net tangible asset value is less than the outstanding debt, which initially it will be.

I haven't had a chance to go through it yet, but will try to find time to so.

Nal, as much as you find it difficult to comprehend that people have had a more interesting and varied life than you, I'm afraid every word is true...apart from your claim that I've exchanged 'many' emails with WI. In fact I've only communicated with him two or three times and you'll find no evidence to support your assertion. Do you have any comprehension of just how stupid you sound when you presume to know how and where people live? You're an absurd individual who could do with some time in a padded cell.

Nal, I see, so you don't have any evidence. It's just another one of your fairy stories. A complete fiction presented by you as fact.

Nal, you claim local sentiment has hit 'rock bottom'. Could you please provide evidence to support your claim. Have you been there recently? Did you spend time talking to the local population?

Hard evidence, please - not something you've just made up.

Pbow, the only thing you'll get from that idiot are lies.