NEXT KEY ACTION MOVING FT FORWARD In Next Two Weeks- FORMALIZE and SIGN a CONTRIBUTION AGREEMENT with Natural Resources Canada (NRCan) on HOW the UP to $ 7.5 million federal GRANT will be SPENT on the SGS Canada TESTS, the UPDATED FEASIBILITY STUDY and the FRONT-END ENGINEERING and DESIGN STUDY on the Nico PROJECT {mine and concentrator + hydrometallurgical refinery}
- NRCan will RETURN a 75% CASH GRANT REFUND of UP to
$ 7.5 million on the INVOICED TASKS LISTED ABOVE
- this MEANS that FT will MAP OUT the DETAILS in a CONTRIBUTION AGREEMENT (CA) to be EXECUTED with NRCan
- it is VERY IMPORTANT to REMEMBER that the PERMITTED DESIGNATED EXPENSES will be INVOICED and PAID FIRST by Fortune Minerals and THEN NRCan will REFUND 75% of the STIPULATED CA COSTS up to the MAXIMUM ALLOWABLE LIMIT of $ 7.5 milllion
* so FT MUST HAVE SUFFICIENT CASH and/or CREDIT FACILITY ON HAND to PAY OFF the INVOICES as they are GENERATED and RECEIVED
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