Good one Grub. Familiar play book too... from p.9 Business...

Good one Grub. Familiar play book too... from p.9 Business Development section:

"During the Quarter, AusQuest signed two Agreements with its Strategic Alliance partner, South32 (ASX: S32), to undertake drilling programmes at the Chololo and Cerro de Fierro Copper Projects in southern Peru. Under the terms of the Strategic Alliance Agreement (SAA), the two Agreements triggered the payment to AusQuest of a Bonus Generation Fee (US$500,000), to be used by the Company for ongoing project generation work. Under the Agreements, South32 can spend US$4.0 million on each project to earn a 70% interest with the right to earn a further 10% interest by completing Pre-Feasibility Studies. Drill permitting at Chololo and at Cerro de Fierro is now in progress."