RE: RE: NR on THGRead it a little more carefully coffintrader. Osisko will pay $4,500,000 to drill the heck out of the property, plus a lump payment of $600,000 to earn 51%. To get up a maximum 70% they will have to incur an additional $10,000,000 exploration expenses or take the project to feasibility.
"Osisko may earn a maximum 70% interest in the Adanac Gold Project located in the Abitibi region of Quebec. Under the terms of the agreement, Osisko will incur $4.5 million dollars of exploration expenditures over 4 years and pay $600,000 in cash payments to earn a 51% interest. Under the same terms, Osisko can then earn an additional 19% (up to 70%) by incurring an additional $10 million dollars of exploration or taking the project to feasibility."