Mustang Granted 25 Year Mining Concession, page-18

The agreement states: "(Decision to mine payment): MUS will be required to pay SLR Mining Lda (the current license holder) US$1,500,000 following the successful completion of the 150,000 tonne bulk sampling program which leads to the decision to start full-scale mining."

This statement would suggest the US$1.5 million is due when the decision to start full-scale mining. I guess the question is who get to make the decision to start full-scale mining (SLR or MUS) and if mining lease has trigged the payment being due.

Today’s news could be very good or very bad. We really need an announcement from MUS.