Layback Agreement definition
Layback Agreement means the definitive agreement to be entered into between the Corporation and Fresnillo Plc pursuant to which the Corporation would acquire the right to expand the Camino Rojo oxide pit onto part of Fresnillo Plc's mineral concession located immediately to the north of the Corporation's property for total cash consideration of US$62.8 million, such agreement to be on substantially the same terms and conditions as set out in the Layback LOI;