Encanto Potash Corp V.EPO.H

RE:RE:RE:RE:RE:Something to ponder heading into 2018

[RetiringYoung]

 4.4 During the Option Period, HORGEN may exercise the Option by providing a written notice of exercise to ENCANTO at any time after the occurrence of all of the following events:
 
(a) execution of a binding Off-Take Contract (sourced through Horgen) by ENCANTO or JV Co.;                                Completed
 
(b) execution by ENCANTO or JV Co. of a binding agreement in respect of a Project Financing Commitment; and          

Does the recent execution by Encanto for a $100 million Financing Commitment qualify?

I think virtually every investor understands that we don't have a "Project" Financing Commitment ie 2, 3 $4 billion dollars
 
(c) a recommendation by the Management Committee of that certain joint venture (its successors or assigns) created by the Joint Venture Agreement dated 16 October 2010 between Encanto Resources Ltd., Muskowekwan First Nation and Muskowekwan Resources Ltd. to implement a Program for Commercial Production                                                                  
a recommendation by who's Management Committee? 

As I understand it, the Management Committee is comprised of the three names mentioned so it's not "who's management committee" but a joint decision. Seems straight forward to me the way it's worded.

As I understood it, to gain 51%, Horgen had to deliver the offtake and complete project financing. The idea was to sell up to 48% of the 51% to the party/country/company that brought the financing, sometihng no other junior has ever done. $2B for half of Encanto sounds good to me  :0)