From last annual report "The Company is in its fourth year of a...

From last annual report

"The Company is in its fourth year of a 5-year mining assignment agreement (“Agreement”) with the concession
owner of Chanape. By virtue of this Agreement the concessions are effectively leased to Inca via public deed.
Inca has the right to acquire 100% of the project for expenditure commitment, cash/shares and royalty. The principal terms and conditions of the 5-year mining assignment agreement are as follows:
- Payment of US$1,500,000 by US$25,000 per month for five years (±$1,050,000 paid to date)
- Payment of US$3,000,000 at the expiry of the five years
- The issue of US$500,000 of shares in Inca (one year after company listing) – completed
- NSR of US$20 per oz Aueq
- Drilling expense commitment of US$3,600,000 over five years (±$1,900,000 spent to date)
- Inca has the right to purchase the project (100% transfer of concessions) at any time
- Inca has a right to withdraw at any time (no separation penalty)"

The 5 years expire December next year.

So we are talking about:
450 k of monthly payment of 25k
3 mi in December 2016
1,7 mi in drilling

total 5.15 mi

Thoughts?