You are right EZ. Its 20 years not 16, with 2 possible 10 year extensions. The extensions require the previous written agreement of both parties which CVG is free to refuse. Actually the Spanish term used is more like "previous written consent" which seems pretty clear.
CLAUSE EIGHTEENTH
DURATION OF THE CONTRACT
1.- This Contract shall have a duration from its date of signature for a period of twenty (20) years, extendable for one (1) or two (2) periods of ten (10) years, previous agreement of the Parties, said extensions shall be notified in anticipation of the force of the Contract.
2. CRYSTALLEX agrees that, one (1) year before the culmination of this Contract, it shall reach an agreement with the CORPORATION in order to define and establish a transfer plan of the assets of the mine "Las Cristinas 4, 5, 6 and 7" and its operations to the CORPORATION.
I do not have the appendix d with the production plan but the contract makes it clear that the amount of gold produced must also be approved by CVG on an annual basis.
FOURTH CLAUSE
EXPLOITATION PLANS
1- CRYSTALLEX shall present the CORPORATION the Plans of Exploitation for the Life of the Project and the Yearly Exploitation Plans in detail. Both the Plans of Exploitation for the Life of the Project as well as the annual plans must be approved in writing by the CORPORATION for their implementation.
