re: letter to bradley, chairman Sturds,
Therein lies the problem with the whole RTM fiasco.
Of course the MEE can give the rights to Nuclear Fuels to someone else. What you are missing is that these are not "RTMs Leases". RTM has the right to explore for and exploit certain minerals over a defined area. Those rights do not, at this time, include the rights for exploiting Nuclear Fuels. RTM has applied for those rights but they have so far not been awarded. They might get them and they might even have some advantage because they already hold mineral rights, but it is far from assured. It is very common for multiple companys to be exploring for different resource on the same piece of dirt.
As an example, I hold an interest in a company that has dirt in the US for which we hold the rights for gas. Should we drill a hole in the ground and find oil, it belongs to another company (as soon as they reimburse us for the drilling costs) not us. Conversely if they drill and discover gas, we own it after reimbursing costs.
Do you see how it works now and why it is dangerous to base your certainty of RTM being given the Nuclear Fuels rights just because they hold some other mineral rights?
Good luck with this one.
Cheers
Badfish
RTM
reefton mining nl
