"Centrex has agreed to pay A$ 5 million to SCF for the transfer...

"Centrex has agreed to pay A$ 5 million to SCF for the transfer of the Ardmore Mining Lease. SCF will retain an interest in the project via a 3% royalty and a right of first refusal over up to 20% of product from the project. Conditions precedent for completion of the acquisition will be the renewal of the Mining Lease for a further 21- year term by SCF that is currently in progress, and obtaining necessary regulatory approvals for the transfer. Completion of the acquisition is expected in the second quarter of 2017. Under the agreements Centrex intends to advance the project into production within 4 years of completion. If production has not commenced within 4 years Centrex will have the option to pay an annual agreement extension payment of A$ 2 million to SCF until production has commenced. Should Centrex sell the project within the first 4 years of completion for an amount above a threshold to be nominated by SCF, then SCF will forego its revenue royalty in exchange for 50% of the residual sale profits after deducting the A$ 5 million transfer payment plus expenditure by Centrex on the project. SCF will not share in the profits of a sale so long as Centrex retains at least 30% of the project and applies the funds raised through the sale for the development of the project"

i think the 4 years, is really just a outside, kick in the pants if you dont get on with it clause.

the reality would target much sooner.