I read the news as $16 mill. $10 mill for their 25%, plus $6 mill for the back in rights for the other 75%.

Hi K......My read is slightly different on two points.#1 i see $6 mill for the back-in rights

that NOT would receive from Maudore would go to Eagle Hill per options agreement.

And #2 Maudore's obligation to purchase is not only subject to acquisition of 75% but

that failing it needs the consent of Eagle Hill under the options Agreement.

Unless EAG can match Maudore's offer i do not see how they can stop the sale.

Maudore has the right to direct Noront to enforce its right under the options Agreement

in regards to BFS or production start within 3 years.

That tells me that the sale of Noront's 25% is not conditional.

GLTY and all,Fossil