CHN 3.27% $1.42 chalice mining limited

From report:South West Nickel-Copper-PGE Project,WA...

  1. 39 Posts.
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    From report:
    South West Nickel-Copper-PGE Project,WA (70-100%)
    During the year, Chalice executed an earn-inagreement with Venture Minerals (“Venture”,ASX: VMS), whereby Chalice may earn up toa 70% interest in the South-West Nickel-CopperProject by spending $3.7 million on explorationover 4 years (with a minimum commitment of$300,000).

    How to reconcile the 70-100% with earning UP TO 70%? Just an error? My misinterpretation of what the 70-100% means?

    FWIW:
    1. no upramp, no downramp, just a genuine question.
    2. No sentiment simply because my opinion is of no account
 
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