There weren't any anti-mothball clauses in the old Agreement. What are you referring to?

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The 4 years for them to spend the 4x expenditures to earn their back in to the project (350 million or so). Now all they have to do is proceed through step 1 of the agreement (~$23 million paid out, drill program).

The 120 days to make a decision or lose the property (and Liard shares) to us is another one. But I don't think we submitted the feasibility notice anyways...

They are proceeding as per the JV agreement (drilling). It is the next stage (where the next 20 million installment is due) where the shelving risk is. They have to make a production decision at that stage and there is no time limit attached.

Just because they are proceeding as per the JV agreement doesn't infer the next stage is a go. The cost for them to put a pin in this is only 23 million, and I have no doubt they will follow their part of the agreement to the letter.

Put a multi-billion dollar project on an interest free lay-away plan by drilling and paying out $23 million sounds like a bargain.

But wait, it gets even better. They also got 75% ownership of everything too (lands, port, power).