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Re: None

Tuesday, 04/03/2018 3:51:30 PM

Tuesday, April 03, 2018 3:51:30 PM

Post# of 4809
This is the Offtake Agreement Lico has with Glencore for the Glenncore Bucke Property, notice how Teledyne property was slid into it;

"Prior to the commencement of Commercial Production, the Purchaser shall enter into an off-take agreement with the Vendor for all ores and/or concentrates produced from the Property and/or the Teledyne Property. The off-take agreement shall be on such terms and conditions as are commercially reasonable and at prevailing market prices;"

I suspect that the acceleration of the Teledyne purchase was executed to ensure that Lico and Glencore are able to create a clean JV without 3rd parties complicating the structure.

Additionally Teledyne is significantly larger in claim ha than is Glencore and after the first round of drill results setting the table makes sense, guests are coming for dinner.