ann. coming, page-14

STEVEN1234,
The hurdle for GFA to get into Silver Hill is even higher than NPV alone: Under the JVA, FIRST, they have to meet the 150,000 metre Drilling Requirement (as per last CQT announcement, they're < 10% there with >1/2 the 3-years of the JVA gone, THEN IF AND ONLY IF they've met the Drilling Requirement, then can buy 50% of Silver Hill based on its NPV.

If they DON'T meet the Drilling Requirement, they get NO INTEREST in the Regional Tenements, NOR do they get the right to buy any of Silver Hill.