Ann: Third Round of Funds Received for Riqueza, page-16

My understanding of the earn in agreement with S32 is that Phase 1 is a 4 year commitment for $9M to receive 60% share of Riqueza. If they pull out at any point prior to full funding of Phase 1 then they forfeit all rights to Riqueza. They can do this at anytime but you would think that they would need or want proof that there isn't a substantial deposit in the ground before writing off over $2M that has been spent on the first year. All exploration up until this point has been very promising, I don't see them pulling out unless drill results didn't show the results everyone is expecting. I might be wrong but that's is my understanding.