Dealing With the Hungry Finder and Disclosures on Mineral Properties
This paper deals with the legal implications of two types of situations which frequently arise in the day-to-day business of a mining company. The first is one in which an individual or company, sometimes referred to as a finder, discloses either orally or in writing the availability of a mineral property. The party to whom the disclosure is made thereafter acquires an interest in the mineral property that the finder has brought to his or its attention and there is no oral or written agreement between the parties with respect to compensating the finder.
The second situation which is considered in this paper is the oral or written disclosure of geological information by an individual or company regarding a geographical area or specific property. The party to whom the disclosure is made thereafter acquires an interest in the area or property which was the subject of the disclosure and there is no oral or written agreement between the parties with respect to compensating the disclosing party.
The issue posed in both situations is what rights, if any, do the finder and disclosing party have, and conversely, what obligations, if any, does the recipient of the information have to the finder and disclosing party. The two situations differ in that the finder is usually acting as an intermediary for two parties with respect to a specific property, whereas the party dis
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