I'm not sure this is such a great deal for Liberty.  "Vendors" implies that if we are involved, we are selling our share of Robbers Roost to Tarku.  They are planning to purchase 75% of a total 1,250 + hectares of this Southern Tombstone area, and our RR is 250 acres (roughly 100 hectares).

They are spending up to $3 million to drill  (explore), but will potentially buy (for how much?) 75% of the Property.

I don't see how Liberty is going to see anything great out of a deal like this.  Am I missing something?  If their drilling is successful, we are obliged to sell 75% of our holding in Robbers Roost to them, leaving us only 25 hectares.

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Tarku has the right but not the obligation to earn up to a 75% interest over 3 years in the Vendors’ mineral claim by funding project expenditures of up to US$3 million as follows:

• Tarku will acquire 25% of the Property after spending US$ 1,000,000 in exploration expenses within the first year of earn-in period
• Tarku will acquire an additional 26% (total of 51%) of the Property after spending an additional US$ 1,000,000 in exploration expenses and the production of a 43-101 report on the Property within the first 2 years of earn-in period
• Tarku will acquire an additional 24% (total of 75%) of the Property after spending an additional US$ 1,000,000 for a cumulative US$ 3,000,000 in exploration expenses within the first 3 years of earn-in period.

At the end of this Earn-in Period, the Vendors and Tarku will become JV partners on the Property, 75% Tarku, 25% the Vendors. Should the Vendors elect to dispose of their remaining interest, Tarku will keep a Right of First Refusal.

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I guess that 25% of something is better than the land just sitting there, but it's not that great.