The following annoucement was made 3 years ago but never went beyond the initial payment. *** May 3, 2013) Caracara Silver Inc. (TSX VENTURE:CSV) (the "Company") is pleased to announce that the Company has signed an option agreement with Inversiones Collodi SAC ("IC") with respect to Caracara's Peruvian exploration properties. IC is a private Peruvian mineral exploration and development company based in Lima. Under the terms of the agreement, IC will have the right to earn a 65% interest in Caracara's concessions by making exploration expenditures totalling US$12.5 million over a four-year period. In addition, IC will make cash payments to Caracara's wholly-owned affiliate company in Peru, totalling $1.85 million plus VAT taxes. Caracara has received the first $250,000 payment owing.*** on October 4, 2013, the Company reported that it had received notice from IC terminating its option agreement with Caracara. During the four month period of the agreement, IC carried out a limited 2,400-m drilling program on the Princesa silver-zinc-lead project and did not conduct any drilling on Caracaras principal Pilunani zinc-lead project or the Parcuyo project, as was originally contemplated.*** Unfortunately it seems CSV has a history of deals that end badly so I find it difficult to be too enthusiastic about the latest deal with Alcon.