_ _ _ _ _ _ _ _ _ shall obtain 80% of the licensing rights at the earliest expenditure of1000000 USD or when the feasibility study is completed.
When the cost reaches US$ 1 million at the earliest or after the feasibility study is completed, XX will acquire 80% equity of the license.
Discovery bonus for resource discovery
_ _ _ _ _ _ shall pay the discovery bonus to the supplier from time to time when discovering, calculating and declaring resources.
The bonus shall be the value of additional resources in the category of measurement and indication, which is 25% of the gold value of these additional resources.
Whenever resources are discovered, counted and published, XX will pay the seller a resource discovery bonus.
According to the measurement of newly discovered resources and the specified category, the value of the bonus is 25% of the value of the gold content.
Acquisition option
After the feasibility study is completed, _ _ _ _ _ _ shall have the right to choose the balance of the licensed rights and interests, and the price shall be determined as 5% of the gold value in the measured resources under the cut-off value of 1g/t, and it shall belong to 25%.
This option will be exercised within 36 months after the signing of the final agreement.
After the feasibility study is completed, XX has the right to choose to purchase the remaining shares of the license; The price is determined by taking one gram per ton of proven resources as the dividing point, and calculating the maturity of 5% of the gold value and 25% of the equity.
This option will be exercised within 36 months after the signing of the final agreement.
The supplier can choose to convert the participation rights in the license into 2% of the net smelter use fee.
The seller may choose to convert the participating equity of the license into a net smelting patent tax of 2%.
production decision
When deciding on mining, both parties shall jointly contribute to the mining cost according to their equity ratio.
If mining is decided, the two parties will share the mine development cost according to the shareholding ratio.
If the seller fails to provide the necessary funds, the seller's rights and interests will be automatically restored to 2% of the net smelter use fee.
If the seller fails to provide the required funds, the seller's equity will be automatically transferred back to the 2% net smelting patent tax.