If you sign a JV that says you will do X, you don't do it, you are requested to comply and refuse multiple times, then you have breached the terms of the JV
If the terms of the JV state that such breach grants the suffering party the right to terminate the JV and acquire the breacher's interest for negligible consideration, what is the issue ?
- Has Eric fulfilled his commitments under the JV, yes or no ?
- Did Eric try to block the exploration permit trenewal being issued in local Philippines court and lose, yes or no ?
As to your other questions about continuous disclosure,
- The DMPF is for the MGB, All this information would have been disclosed to shareholders in the DFS
- The Nalesbitan project already had a 'mining permit', RTG did not apply for a fresh permit, the had this converted to the new one which shows as the MPSA. It is not a major project, had little exploration and until the DENR allow consolidation of projects (i.e it and Mabilo), it was not material to announce. If it is not material, then it is the company's discretion whether to disclose or not - they likely saw it better to continue laying low and not rub this in the face of newly appointed Gina
Do you not believe a quick resolution is at hand ? Do you think if Eric has black and white breached multiple contracts and the conditions state he is to lose his share for nil value, do you think he will win let alone continue with it ?
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