US$12M Agreement with BlackRock World Ming Trust plc
08/10/2013
BlackRock would provide US$12m in return for Net Smelter Return
(NSR)3 royalty payments comprising 2% on copper, 25% on gold and 2% on all other metals that will be produced from Stage 1 and Pedra
Branca (Pedra Branca or Stage 2) license areas. Other discoveries within Avanco’s current licence portfolio additional to the aforementioned willcarry a flat 2% NSR production royalty.
Ann: Project Finance Update, page-19
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