Ethics Panel

Question 4
Your company, Good as Gold Minerals, signed a confidentiality agreement with Quick
and Loose Mining Company. The term of the confidentiality agreement is due to
expire in 30 days. Quick and Loose has data on several properties including the Big
Bonanza claim group which it holds under lease from the underlying owner. You
think the lease terms are very onerous and will need to be renegotiated if you make a
deal with Quick and Loose. Under terms of the confidentiality agreement Quick and
Loose gave your company access to its drill samples from the Big Bonanza claims.
In order to save money Quick and Loose used Cheapo Labs to assay the drill
samples and the results came back very negative. Your company decided to reassay
the samples and the results were so exceptional it caused the entire
exploration staff to swoon. After recovering his senses the Exploration VP
approached you with a crazed look in his eyes and asked you to purchase the Big
Bonanza claims as quickly as possible. In the meantime, Quick and Loose contacted
you to tell you that based on the poor assay results they dropped the lease on the
Big Bonanza claims.
PART 2: 1: 3:
Assuming When you the contact confidentiality the owner agreement of the Big Bonanza has no express
claims are
restriction obligation you obligated to on disclose, acquiring to are property your assay obligated either results during to disclose or Does after the your the
confidentiality results answer of change your agreement assays if you know to Quick expires that and Quick do Loose you and have Loose Would any has obligation this given
to change their Quick poor if and Quick assay Loose and results before Loose to the you alerted owner contact you before the owners they of dropped the Big
Bonanza the lease claims and wanted Does to this know change if you if had you any wait interest to allow in the
confidentiality property agreement to expire