mineral lease, page-3

Jayson,

I don't think AGS can 'sell' the exploration or mineral licence as they are issued by the government and not the property of the company. Kind of like selling your drivers licence - can't do it. The company holding the licence (ACE) would have to be sold as whole, thereby the licence going with it.

Likewise, I believe the licence could not be transferred to another entity by AGS. That other entity would have to apply for it through the government and go through the normal process.

I don't think Quasar can/will delay the progress of the JV/mining/production because they are bound by the JV agreement. They would be in breach of the agreement if they did anything inconsistent with the objectives or purpose of the agreement. Delaying the progress of the JV for ulterior reasons may give rise to a breach of contract, not that AGS would want to go down that path.