purchase offer for mt carbine rejected, page-12

John Kelly may be a great geologist but the tag of shrewd businessman is looking less and less likely. Republic issued 500,000 shares on 4th June and paid $15,000 cash and then issued another 500,000 shares on the 28th August to have the purchase option extended another three months. One wonders why they didnt enter into an agreement to purchase the property at a fixed price by a fixed date, rather than to spend all that money and just make a straight out offer?