Ann: Inca Agrees US$9 Million Earn-in Amount, page-33

Exactly @binwood - the detailed terms, including who will be JV manager, and plans relating of disclosure of results to the market are what we are waiting to see.

As you say the clear object would be to take the priority 1 targets one by one and work to final investment stage within the 4 year period..

One issue which will be an interesting outcome for us is what they will do with the existing partly unused drill permit.  It is over targets which are now priority 2 after the areial surveys.  We could quickly use that drilling (even if the targets are not so hot, the structural info could be invaluable) or reliquinish the permit and apply for a new one. (Can only have one at a time, as you know)

Are you buying, or saving powder?