What's positive for cash strapped WEL? 

I think 2 important points.

" Under the terms of the two year agreement, which may be extended, Doe Run Canadian Exploration will fund the work"   I think an important point.

"Wildcat will retain the right to acquire up to a 30% interest in any properties (the "Earn-In Right")."

Also

"In addition to exploration under the Alliance, Wildcat plans to continue exploring for gold and base metals on its current property portfolio, and adding to the portfolio when new opportunities arise."             but for this,  WEL pays the bills.    From this we may face additional placements and share dilution.   Our track record for success in exploration has not been great.