Incur exploration expenditures aggregating $3,300,000 and make additional cash payments aggregating $3,650,000 in order to maintain the option and earn an interest in the property as follows:
Year of term and expenditure date Minimum property expenditures Cash payments Total deemed interest earned (%)
On or before October 31, 2012 $100,000 (incurred) $- 0
On or before October 31, 2013 200,000 (incurred) - 0
On or before October 31, 2014 1,000,000 - 51
On or before October 31, 2016 - 500,000 51
On or before October 31, 2018 2,000,000 - 75
On or before October 31, 2018 - 3,000,000 100
Der Zugzwang steigt - - -