Todays press release states

" Vena has committed to pay US$300,000 over three years and to invest US$1.5 million in exploration activities to earn 60% of the joint venture project in partnership with Golden Minerals. Over the next two years Vena can increase its ownership in the project to 70% upon completion of a feasibility study. The option has been modified so that all cash payments can be made in equivalent shares of Vena at the discretion of Golden Minerals."

Could management please clarify the amount spent to date on Esquilache in terms of it's commitment to the JV, and to clarify if the funds ( $1.5 Million ) have already been set aside or is that money is to come out of a future financing.

thank you