Well Bill of course you are right that the only thing lost by voluntary surrendering (check DMRIS website) os the documented silica sand resource on the southern spur of the companies tenement.
now why would anyone voluntarily surrender a resource on private property on your tenement then go and acquire another one 200km away which has already been assessed by the subsidiary and let go , for votes , i mean shares to the equivalent of $800k or 15% of your company ? could you answer that for me please ?
as far as future losses go, should any portion of the MLA not form part of the grant remembering that VRX only had 1/3 of their MLA granted next door then the portion not granted is lost asset to the company ..... that is GONE so there is a real possibility that 2/3 of this companies prized asset goes to a company controlled by an individual who happens to be on the board of another listed company with Evan Cranston
at best this is incompetence at worst it is very very very serious breach of best interests duty amongst other issue as there was plenty of blocks outside the best area (under MLA) that the directors should have chosen otherwise why would you put your (MLA) mine there if there are better resources elsewhere on the tenement .
got answer for that one also ?
have a think about it because that question may be coming up !!!!
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