Very much agree bigjig.
Perhaps its my lack of sleep, but the wording is a little confusing to me, is it saying that after the initial agreement which has a 3 year period, IGO will have to make the $1m or $1.5m payment? Or within the next 3 months, IGO is going to make the payments?
Basically, ABU won't have to pay a cent for the next 6 years for approx 30% of entire acreage. IGO pays for every single thing. I will say I think the original terms were possibly a bit too generous to IGO, but it it what it is.
Ann: ABM and Independence Group Extend Exploration Agreement, page-3
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