Ann: Hipo Secures Option Over DRC Cobalt Projects, page-11

There may be things I missed as I only read through the ann quickly on my phone. I think the terms are not bad.

$50k upfront + $1M only if HIP decides to go ahead after due dilligence.

For 1620:
- Have access to 1620’s human, technical and logistical resources on a “cost plus” basis for
actual time provided;
"Cost plus" for 1620's "labour cost" is quite vague, but we probably can reasonably expect that it should not be exorbitant.

- The options will only be awarded after $0.04 10day vwap at the earliest, and then at $0.07, and finally at JORC.


I guess in the worst case we will at least get a good pump so that 1620 can get their options.