From the website-
"The SCJV agreement provides that Teck and Copper Fox are each responsible for their pro-rata share of project costs except that Teck is solely responsible for the first $60 M in pre-production costs. If pre-production costs exceed $60 M, Copper Fox’s pro rata share of such costs will be set off against the two remaining cash milestone payments. If pre-production costs exhaust the two cash milestone payments, Teck will further assist Copper Fox by providing loans, as necessary, without dilution to Copper Fox’s 25% joint venture interest"
Again! I don't want those payments altered, reduced, eliminated! If there are material affects to the terms based on budget, we need this public and news released to us in a separate communication!
These JV clauses are very important in the event things get hostile and Copper Fox can use these clauses as leverage in negotiations against Teck for the benefit of another major wanting our interest! The JV deal & rights are transferrable and this is a huge asset to us!