It means the company has the option to elect to acquire up to an...

  1. 454 Posts.
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    It means the company has the option to elect to acquire up to an 80% interest in those permits.

    I can't recall the terms of the option agreement, but the option to acquire the interest will be subject to the company issuing shares/paying cash to exercise that rights.

    The company has no obligation to do so if it does want to.
 
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