"...I would like the boards opinion here, If you were running a major co. would you want all of the documentation that applied to an event that involved a lot of the co's money, or would you want some stripped down condensed version. ..."
You are correct; in fact, I cannot see the requirement of a condensed version in the Agreement.
Sec 5.4 of the 2002 Agreement:
"5.4 Upon Salazar completing a Positive Bankable Feasibility Study on the Property, Salazar shall forthwith provide Teck Cominco with written notice (the "Feasibility Notice") which shall include a copy of said study and statement in reasonable detail (date of invoice, name of supplier, short description of charges and amount of expenditures) showing Expenditures incurred in preparing said study. Unless the Option in respect of the Indirect Holding has terminated as contemplated in 6.3, Salazar shall not be entitled to make a production decision in respect of the Property or to produce from the Property unless Teck Cominco elects not to exercise its Back-in Right or the Back-in Right expires."
Nothing in the Agreement asks for a "Condensed Version" or summary of the BFS. Based on the Agreement, there is no reason and no need for such summary. Management's inability to meet deadlines and repeated delays are extremely frustrating! JMO
