If BOLD is doing well with KWG, sufficient money will flow into Fancamp. One of BOLD, Argex or Champion will start paying up to 2% NSR to Fancamp once in mining operation.

- $1,5000,000 in option payment by May 7, 2015 to 50% ownership

- Another $700,000 option payment to 60% ownership

- Another $15,000,000 over three years to 80% ownership

To earn 50% of the Project, during the course of the three years following the signing of our agreement (7 May 2012), Bold is required to pay Fancamp $1,500,000 in “option payments” and must spend $8,000,000 “on exploration.” As of April 2014, Bold (together with its partner, KWG) has already spent $3,185,000 “on exploration” and has already “made a NI 43-101 compliant grade and tonnage estimate.”

Another $700,000 “option payment” together with a positive “Feasibility Study” will bring Bold’s share of the Project up to 60%. “Paying Fancamp” yet another $15,000,000 “in equal installments” over three years will further increase Bold’s ownership to 80%. To get to 100%, Bold is required to give Fancamp a 2% NSR (which will increase to 4% after the capital costs are recovered).

http://www.cbc.ca/news/canada/toronto/ontario-votes-2014/ontario-leaders-tout-ring-of-fire-s-potential-and-promise-action-1.2657380