Entire OTA document governing all plutonic done/marymia tenements is not available to public, however, certain excerpts are attached to the courts 2021wasc459(s) ruling. I have requested in writing from Superior mgmt a copy of plutonic dome ota, however, my request has been greeted with silent treatment. My understanding from communicating with Superior mgmt is that Superior ota rights of first refusal are not triggered when VAN use plutonic dome tenements as collateral for a loan, which is what VAN did with its interest in plutonic dome so as to secure financing from mutual fund under bond indenture of recent convert, so should VAN potentially default on this convert at some point in future and the mutual fund sieze the plutonic dome marymia tenements this scenario will not trigger Superior rofr rights under ota however in this potential future scenario the mutual fund will then be restricted by terms of ota, just like VAN, and must offer Superior 50% interest in any tenement they wish to bring into production for $3mm capex investment and should mutual fund potentially decide to sell any plutonic dome tenement for cash, then mutual fund must offer tenement(s) to Superior first under ota rofr enforced by mandatory order of WASC.
VAN Price at posting:
4.8¢ Sentiment: None Disclosure: Not Held
