With the latest claim against Minera Andes by TNR Gold it seems Rob McEwen can’t help commenting on the case. He said of TNR Gold’s claims over part of Minera Andes’ Los Azules project “To me it’s a form of blackmail.”
TNR claims that no time limit was discussed but appeared in the final doc they signed and went unnoticed for years. Did anyone read this doc before signing it!?!?! I thought that’s what you paid lawyers for.
Rob also summed up the claims as follows:
McEwen summed up TNR Gold’s claims as follows: First TNR Gold said it had been fooled in signing the option agreement. Then, McEwen said, came the assertion it could waive the feasibility clause. “Now it’s, ‘You didn’t spend the (exploration) money’,” McEwen said. “But they signed off on it.”
It’s also been suggested to McEwen that the delay could take 8-12 months.
In the report we also get some insight to an Minera Andes AMEX listing, he comments that with the spin out there was no guarantee that they could stay above the $2.00/share limit for a listing. The AMEX comments could be an excuse for the delayed spinout but it doesn’t appear to be. I see McEwen as a person of much higher integrity than to play games with investors. That said it would be interesting to know what sort of timeframe Minera Andes was thinking of for an AMEX listing. It would have presumably taken place at least a few months after a spinout of the copper play at a minimum. It would also seems to imply Minera Andes wants to be a more pure silver and gold play before an AMEX listing, but this is just my speculation.