"The actual JV T&C's wont be materially different to what the binding Term Sheet already states."
Essentially, the broad points will remain the same - I agree with you on that. Specifically, the percentage of equity Simulus will receive after each stage, and the royalty payments. But time frames may change: they still don't have a licence to drill vegetated or wetland areas so no scoping study (or term sheet) will be finalised until then most likely. If Simulus wants a full study, they need full drilling results - that means more RC drilling. So gotta get the rig back from Pebas as well.
I want to make as much money as the next man, but going in with your hand over your face [the picture of you above] might leave you open to missing something that is significant in terms of when real interest and cash is likely to start flowing in
Ann: Centaurus Secures Nickel-Cobalt Development JV at Itapitanga, page-89
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