Hi Hoges and Tijaunabrass, Yes the purchase of the leases is...

Hi Hoges and Tijaunabrass,

Yes the purchase of the leases is completed now. There were two announcements as follows:

18 August 09 Purchase Advances, (deposit paid etc) and

29 October 09 it was announced the transaction was completed.

Tijaunabrass, Interesting comments and insights you made on the other thread - still trying to get my head around some of them, but appreciated the positive comments you made in there:)

re becoming an old man before Bolivia gets up and running, I guess the answer to that is not as clear cut as the fact that 1m3 un-dug rock weights more than 1 tonne:)

Perhaps the only part of it that I have any control over is the speed at which I become "gray". I'm planning to have another run at the FX soon and that can age one rapidly!

On a more relevant note with Bolivia and this discussion re time, if RAU don't get up and running Vista have first right of refusal to buy it back, and must pay 75% of the amount RAU have put into it plus, effectively, any other value the market reasonably attributes to the project above and beyond the original purchase price agreement.

In what I think is an unlikely event of this happening, RAU would very quickly have some significant money in the bank, and all their Australian projects to continue progressing.

Burraga, Terrace creek, and the Adams leases may have some "pie in the sky", but there may be a massive amount of "blue sky" too!

I really think that very little of the value of Amayapampa is "written into" the current share price, (because of uncertainty etc). As I say, if it did fall over, RAU are left with more money in the bank etc. The share price could even go up! Of course if they can move to production in BOTH places...all these grizzles will be history!


I've placed a copy of the relevant section of the contract between RAU and Vista below.

Cheers


15 .1         Right of First Refusal . The Purchaser shall not sell, assign or otherwise transfer its interest in the Property to a third party prior to commencement of Commercial Production without first offering to sell, assign or otherwise transfer its interest in the Property to Vista for a price and upon the same terms as the Purchaser would sell, assign or otherwise transfer its interest in the Property to a third party.  Vista shall be entitled to elect to purchase the Property from the Purchaser within 60 days of receiving the Purchaser’s offer, by delivering written notice to the Purchaser to purchase the Property.  If within 60 days of receiving the Purchaser’s offer, Vista does not elect to purchase the Property, the Purchaser may dispose of the Property to a third party at any time within 180 days of the expiry of Vista’s election period, but only for consideration equal to or greater than the consideration stated in the offer to sell to Vista, and upon no more favourable terms or conditions as the offer to sell to Vista; provided however, that the sale of the Property to the third party shall be subject to the third party entering into an agreement with Vista whereby the third party agrees to be bound by, and comply with, the provisions of this Agreement (including the NSR Royalty).
 
15 .2         Right to Re-purchase . The Purchaser hereby gives and grants to Vista the right to re-purchase its rights, title to and interest in the Property at any time if the Purchaser or Vista Gold Antigua have not moved to close a financing under a project financing facility put in place to move the Property to Commercial Production prior to the fifth anniversary of the Closing Date.  The price payable upon exercise of the right to repurchase shall be 75% of the aggregate costs reasonably incurred by Vista Gold Antigua directly related to the holding, financing and developing of the Property, incurred after the Closing Date.  The costs will be verifiable on an open book basis.