Auag Resources Ltd v Waihi Mines Ltd - [1994] 3 NZLR 571

Equity — Fiduciary relationship — Joint venture agreement for exploration of mineral resources — Agreement stating no partnership or fiduciary duties — Party purporting to sell share in joint venture without first offering to other parties — Whether fiduciary duties owed between parties.

Practice and procedure — Striking out proceedings — Pleadings — Joint venture agreement for exploration of mineral resources — Agreement requiring parties to act with utmost good faith, but otherwise free to pursue own interests — Party selling share without first offering to other parties — Action for breach of fiduciary duties — Need for factual pleadings — Whether cause of action disclosed.