In a takeover situation...all assets and liabilities, as well as rights and obligations, rest with the acquirer.
I am sure - that to be the case
Rules struck no doubt, to avoid a a situation otherwise, whereby the new owners decline liabilities, as being the obligation of the previous entity.
------------------------------- Just with regard to the farmouts, which are now very much a focus for the company and its investors......its certainly worth going back to the 20 minute mark, in the exploration mangers presentation, at the AGM.
See link below:
From that 20 min onwards, there is discussion just on the farmouts.....at that cap of $40m, suggest listen to the interview.