Teck Cominco's Back-in RightI mentioned the Teck Back-in right & figured I'd post it here for those who haven't already seen it.
(cut and pasted from copperfoxmetals.com)
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"... * The option agreement has a time-limited back-in right exercisableby Teck Cominco within up to 120 days of the delivery of the positivefeasibility study. If the back-in right is not exercised, and at TeckCominco's option, CFM shall grant Teck Cominco a 1% net smelter royaltyor, if CFM has assigned the option agreement to a public company whoseshares are listed on a recognized stock exchange, shares of thatcompany having a value of $1,000,000.
If Teck Cominco wishes to exercise its back-in right, it may earn;
* a 20% interest by matching prior incurred expenditures, or it may earn;
* a 40% interest by matching three times prior incurred expenditures, or it may earn
* a 75% interest by incurring four times prior expenditures and arranging all production financing.
The option agreement includes provisions for joint management and fordilution of interests in proportion to expenditures, includingreversion of either party to a defined net profits royalty if thatparty's interest is diluted below a 20% working interest in the jointventure...."