Heres a question for the board.
If Teck challeneged the contract...do you think Ernesto would foot the legal bills and wait potentially 2 years for a resolution?
Or do you think he'd take a lessened buyout price?
This outcome is unlikely....but it could represent a very real threat...Im just curious to hear peoples opinions.
There is no clear wording that Teck has to have us in production in 4 years...there is no clear wording that we can extend this perk to an acquiring company (other than Teck), and there are a ton of references to a 'Salazer: (Guillermo Salazer who sadly is no longer with us).
Im sure Tecks lawyers could cause a real problem with this if they felt like it.
Just bringing it up because Ive never in my life seen someone who takes the farmout risk bring a giant like Teck to its knees....however that certainly seems to be the mentality around here.
We have 25% when its said and done, no ownership...we have a working interest. All our 'acquired voting shares" are voting shares Liard which at the end of the day will come nowhere close to Tecks 75% ownership.
The contract is vague, and by no means puts us in the drivers seat.
Faced with a 2 year legal battle and millions in costs, what are your opinions on this outcome?
Rogue,
