Does anyone have a tally on how far BXX is along in their earn-in on the Dok Option Agreement.

The $340k in cash (a) is not too cumbersome, and last year's Aerial Magnetics probably covered off much if not all of the $5M of exploration expenditures (b). I am assumign that they haven't given the owners shares or the $1M cash in lieu (c).

I trying to see how Dok fits into the post CUU world. If there is a CUU 2.0 with property to explore, they could be sufficiently cashed to take out Dok from BXX. This might give BXX much needed cash to focus on the higher profile properties like Boss and East Breccia, while CUU 2.0 would have a bigger lock on much of the Golden Triangle. The outstanding Dok Option Agreement would complicate this tidy swap. I dont' see any unworkable issues tho (unlike a TCK option Agreement LOL!).

Thoughts? TIA

Option Agreement Highlights

Under the terms of the Option Agreement dated May 16th 2011, Boxxer has the right to earn a 100% interest in the DOK property (subject to the NSR payable to the vendors) by making the following payments and exploration commitments:

1. Cash payments totaling $340,000 over six years, $20,000 of which is due on signing;
2. Exploration expenditures totaling $5,000,000 over six years, $500,000 of which is required in year one, following which there are no specific annual exploration expenditure requirements.
3. A one-time bonus payment of either $1,000,000 cash or $1,050,000 in common stock of the Company. This bonus shall become due and payable upon attaining certain minimum mineral resources, which will be established by an independent National Instrument 43-101 resource report. The Company has the right to determine whether the bonus is paid in cash or shares. The number of shares to be issued would be calculated using the closing price of the Company's common stock on the date of the release of the National Instrument 43-101 resource estimation report.
4. A 3% NSR to the property vendors, of which Boxxer has the right to repurchase 2% of the NSR at any time for a cash payment of $2,000,000.