On about February 1, 2010 the Company entered into an oral agreement with Mr. Lopehandia and since February 5, 2010, the Company has been advancing money to Mr. Jorge Lopehandia, primarily to fund his litigation efforts to establish his ownership rights to the Chilean portion of the Pascua Lama gold-silver claims currently under development by Barrick Gold Corporation. As of October 31, 2010, the Company has advanced a total of US$306,761 to Mr. Lopehandia. Subsequent to October 31, 2010, the Company has advanced an additional amount of US$274,428 with the last advance being made on December 17, 2010 in the amount of US$75,000. Accordingly, as of the date of this MD&A, the Company has advanced an accumulated total of approximately US$581,189 to Mr. Lopehandia. For such financial assistance, the Company expects to obtain either (a) an interest in the Pascua Lama property if Mr. Lopehandia is successful in proving his ownership rights to the Pascua Lama property, or failing such, (b) an interest in another property in which Jorge Lopehandia has an ownership interest with all payments made by the Company being credited to the acquisition price. The Company is in the process of negotiating with Mr. Lopehandia for a written agreement relating to this project. Mr. Lopehandia has also been investigating the availability of properties of merit in Chile on behalf of the Company.
Looks like MWR was scammed out of a few dollars by Jorge. Go Jorge go :)