What do you mean by "secret agreement"? It's public knowledge. Copper Fox Metals received $20 million upon signing the Schaft Creek Joint Venture Agreement, $20 million upon a Production Decision, and $20 million upon the completion of the mine facility.

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If I understand right, he means that the deal is secretly already done (will close by a certain predetermined date, amount) so it doesn't matter if we spend all our cash - more is on the way before we run out...

I don't buy it, but everyone is entitled to their own opinion.