Sure if you are a large iron ore miner it is a big deal. Is it a big deal for us?
We receive approximately 2 million Royalty a month when mine is operating at full capacity.
So a 10% downward move in iron ore is worth AUD 200,000 to us a month. Not that material.
Also it does not at all affect our copper / gold portfolio in NSW.
Iron ore is a damn nice income stream for CYM = we do not get diluted as exploration continues.
However no one here is going to get rich off the royalty. It is our copper / gold assets that will make us very well off here.
Left field upside is still MIN paying 45M+ to buyout the royalty to reduce their costs particularly as the mine is developed to 10mtpa from 5mtpa currently,
The mine development to 10mtpa will also offset for CYM any drop in iron ore prices.
Ann: Talisman Receives First Wonmunna Royalty Payment, page-123
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