IMO, the only issue outstanding is the partner handing the check over to Juan.
I don't believe the amount of the first tranche has been disclosed. Where did you come up with that number?
As best I can tell, every statement that Juan has publically made has been truthful although like many forward looking statements-plans don't always turn out as he hoped. I have had the please to meet/talk with Juan on several occasions and found him to be one of the most remarkable gentlemen I've ever met. Very sincere, honest business professional. He is the kind of person who will leave a good impression on anyone who meets him.
Let me try to understand what I think you are asking, but I believe you have some confusion on the ownership breakdown. The Los Amigos claim that is currently being mined is owned 80% by CMLDM Chile and 20% owned by Medinah Minerals (Chile) S.A. In addition, Medinah Minerals (Chile) S.A. receives a 30% net profits interest in the profits produced from this property without any capital requirements. That joint venture/ownership arrangement is completely between the 2 Chilean entities. Keep Medinah Minerals USA (MDMN) out of this equation for the time being.
I believe the concern you are expressing is that the 80% CMLDM entity will offload an undue amount of expenses on the 20% Medinah Chile entity? If that is what you're getting at, then I don't see how that can happen unless one party is clearly doing something illegal/immoral in the situation. And given the fact that JJ (and family) controls all of Medinah Chile, is the original owner of the LDM claims, and brokered the deal between the two entities, I don't see how JJ would allow Medinah Chile to be taken advantage of in the way you are implying or are fearful of. I take the ownership and expenses of a joint venture at face value - they are shared equally based on their ownership percentage.
Now looking at Medinah Minerals USA (MDMN), there is no way they can incur any undue expenses from this project as they are merely a 50% owner of the Medinah Chile entity. So your concerns in that regard I believe are misplaced. However, if you truly feel that any kind of underhanded misdealing of expenses between the entities is at all possible/probable in this arrangement, then I submit to you that you should probably sell your shares.
I'm not sure where you got the $40 million figure from. The minimum will be $7 million designated for the drill program plus whatever the first tranche will be. The terms you are calling for are more appropriate for a property where the mineralization is well known with measure and indicated resources and there is little risk assumed by the purchaser due to the geological knowledge. Currently, although there is > $2 billion in resources that have been estimated (though not officially NI 43-101 indicated) from drilling at the Gordon Breccia, there still is risk involved in this deal for the purchaser that requires further drilling to be mitigated. No purchaser is going to pay equal tranches when further exploration is required. It is almost always a progressive tranche arrangement. In ADL's case, it is $180 million spread out over 9-month payments over 3 years with a tiered increase based on increase in value of the property based on drilling.
Statements like "hopefully" or "expect to" are used responsibly by the company (any company) in order to express confidence, yet cover themselves in case something unexpected occurs. THe use of the word shouldn't be read into one way or the other IMO.