LightForce, standard conditions for a jv is that the entity earning a % can pull out whenever they want. The area then stays 100% with the original owner.
Some jv arrangements can include an incremental ownership for the earn in entity eg 10% ownership on spending $2mil of a $10 mil deal but I haven't seen that mentioned regarding FNTs agreement. So I assume that should OKT not spend the $12mil per tenement FNT keeps 100% of any tenement where the $12mil isn't spent.
company discussion update, page-46
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