I apologize for the delay in my response. I am internal legal counsel to Advanced Explorations Inc. and have taken on some of Nadine's (our investor relations specialist's) role while she is on maternity leave. John is currently in China so I will take a stab at answering some of your questions.
1) To clarify, the last NR referred to a holding company structure that is to operate as the JV vehicle (i.e. RB to be transferred into Savik and then XDIP earns interest in Savik pursuant to framework terms), rather than the new company being created in lieu of a JV. I have to be careful from a legal point of view about speculating as to timing of a signed JV or otherwise speak to XDIP's intentions; however, we continue to cooperate with XDIP to determine the best trade-off between risk, capital requirements, and timeline to get the Project financed. The discussion is not currently about revising the Framework terms, instead, we are assessing the potential to amalgamate the two Framework Agreement (Tuktu and RB) into a single document/plan.
2) I am unable to comment on the December cash position because this is non-public information.
3) See attached press release re Tuktu.
I hope that my answers are helpful.
Advanced Explorations Inc.
401 Bay Street, Suite 2828
P.O. Box 100, Simpson Tower
Toronto, On M5H 2Y4
Tel: 1-416-203-0057 (ext. 320)
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From: General Inbox
Sent: Monday, January 21, 2013 8:52 AM
To: Brendan Purdy
Subject: FW: information please.
Sent: Thursday, January 17, 2013 11:54 AM
To: General Inbox
Subject: information please.
Hi, to whom it may concern,
I would prefer a response back from Mr. Gingerich if I could please. But any information anyone can offer is greatly appreciated. Just wondering a few things:
1) Is there any indication AEI's "partner" XDIP is looking to realign or re-structure the previous framework agreement? Alot of time has passed since the original agreement, and Im concerned for the project. The latest NR said there was a new company being created in lieu of a partnership with XDIP. Can you shed some light on any potential agreements, or where AEI plans to move in regards to financing Roche Bay?
2) Also, can you provide some insight to the company’s cash position for DEC, 2012?
3) When can we expect a news release on the Tuktu drill results?
Thank you, as an information would be great,
A shareholder for over 2 years....