Initial interests and expenditures. On the date of formation of the Joint Venture the parties shall, for purposes of the Joint Venture Agreement, be deemed to have the following initial interest and to have incurred, as prior exploration costs, moneys under this Option Agreement in the amounts as follows: Undivided Interest Deemed Expenditures Optionee 50% $1,500,000 Optionor 50% $1,500,000
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Samples: Mining Option Agreement (Coastal Pacific Mining Corp), Mining Option Agreement (Coastal Pacific Mining Corp), An Agreement (Pana-Minerales S.A.)
Initial interests and expenditures. On the date of formation of the Joint Venture the parties shall, for purposes of the Joint Venture Agreement, be deemed to have the following initial interest and to have incurred, as prior exploration costs, moneys under this Option Agreement in the amounts as follows: Undivided Interest Deemed Expenditures Optionee 5015% $1,500,000 $ 330,000 Optionor 5085% $1,500,000$ 1,870,000
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Initial interests and expenditures. On the date of formation of the Joint Venture the parties shall, for purposes of the Joint Venture Agreement, be deemed to have the following initial interest and to have incurred, as prior exploration costs, moneys under this Option Agreement in the amounts as follows: Undivided Interest Deemed Expenditures Optionee 50------------------ ------------------- Optionor 20% $1,500,000 Optionor 50375,000.00 Optionee 80% $1,500,0001,500,000.00
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