Concession

What happens in August 15th when the 2 years are up the vendor gets $8m of preferred shares which rank above any we hold if MNE exercise the option.
do we lose the concession if the $8m is not paid.
As you can see by the first part MNE only get 85% as SS and Paraguay are owned by the Minera El Roble after exercising the option MNE will get 68%

Prior to exercising the option to acquire the Project, Minera El Roble will be 85% owned by Mining Group, via its Chilean subsidiary, Mining Group Chile Ltda. The remaining 15% is held by a third party responsible for introducing the Project (refer below – Acquisition Fees).
Upon exercising of the option agreement preferred shares in Minera El Roble will be issued to the vendor so that the vendor will then hold 20% of the issued shares of Minera El Roble and the concessions will be transferred into the ownership of Minera El Roble. Mining Group will then hold a 68% interest and the introducer will hold 12% of the issued shares of Minera El Roble.
Consideration
The option agreement has a term of four years, and if, at its sole discretion, Mining Group meets all payment obligations and opts to exercise the option to acquire the Project, Mining Group will own an initial 68% share of the Project concessions. Following the completion of a feasibility study or within two years from the date of exercising the option, whichever occurs first, Mining Group can increase its ownership of the concessions to 90%. The vendor’s final 10% will be free carried until the Project has been declared bankable, at which point the vendor will be required to contribute or dilute on an industry standard pro rata formula. Mining Group will be required to finance Minera El Roble for all acquisition costs, exploration and development expenditure up