Ann: September 2012 Quarterly Report , page-13

Question for the more informed:

The way I read the shoot out "Board Recommendation" is that should the money not be received, then SRK's loans are secured by a mortgage over the tenement titles.

That's a safeguard and I took note of management's comments that there is a substantial risk that the payment could not be made.

That's all fine, but should payment not be made, does title automatically revert to SRK? I appreciate that it is the expected outcome, but will it be that simple?

Does anyone with a better working knowledge of the area have a view on how/when such a transfer may proceed?

That is the one thing that bothers me most (aside from not selling my remaining shares at 17.5c) that SRK is in a situation where settlement doesn't happen and then they're stuck in lengthy procedure to transfer the asset.

Any feedback appreciated.

TIA