Good thoughts! Or perhaps rather than "defaulting" on the option agreement and losing all of their investment in the project, KWG offers Probe say 50% of it's final 50% earn-in share in exchange for Probe incurring the remaining $2.2 million in exploration costs, and paying the remaining earn-in option payment of $700.000 . That way KWG wouldn't lose all, and Probe would be getting a deal, with both KWG and Probe holding 25% and FNC retaining it's 50%. Then extend the option to Probe "to earn a further 10% interest at any time by delivery of a positive feasibility study and by making a payment to FNC of $700,000 in cash and/or stock at the option of " Probe. Under the latter scenario FNC retains the majority 40% with Probe at 35% and KWG at 25%. Not sure however that FNC (or any company) would want to "complicate" the agreement /ownership by allowing such a three-way ownership...

Cheers,

Luker