so is bcl obliged to pay all exploration costs up to the 4 mill or is there a split? maybe they are arguing over who foots the bill? seen it before.
BCL Investments (Pty) Limited (“BCL”), under the joint venture agreement, can spend an initial
AUD$4 million on a drilling program to earn 40% of the projects over these areas. BCL has the
option to continue to fund the projects to the completion of a Bankable Feasibility Study (“BFS”)
to earn a 70% interest.
Slow Results, page-108
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