From the JV agreement.

Sale of Interest. The Lienholder making the advance contemplated in §16.2, on Notice to the other Parties and the Grantor that the Lienholder is enforcing its lien, shall have the right to take possession of all or a portion of the Grantor’s Interest and to sell, or purchase, that Interest to recover the amount of such default by: (a) first offering that Interest to the other Parties, for that price which is the average of the fair market value stated in two appraisals obtained by the Lienholder from independent well-recognized appraisers competent in the appraisal of mining properties;

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