''The new management team have repeatedly made it very clear that the proposed JV is currently under negotiation. The 'right to negotiate' is NOT a binding agreement for anything - let us try not to leave out any relevant facts.''
Hi Humphrey, hope all is well
While I agree that management have indicated that the proposed JV is currently under negotiation imo I an not sure that OGX have the right to negotiate
While I agree management are trying to negotiate the best deal for shareholders - I have not seen in any sources they have the right to negotiate like they have stated Anglo has (below )
''Exploration within the Faina Project is underpinned by Orinoco’s regional exploration Joint Venture (JV) agreement with Brazil’s largest gold miner, AngloGold.
Under the terms of the JV agreement, AngloGold may earn up to a 70% interest in the Faina Project, excluding Cascavel, by spending up to US$9.5 million on exploration over three years.''
Humphrey in the below extract from OGX website - this is the only place they mention the word RIGHT to negotiate and it appears Anglo have the right..
''In addition, AngloGold has the right to negotiate an agreement to earn up to a 50% interest in Cascavel.''
