Ann: NCZ Secures Landmark Royalty Deferral Agreement with QLD Gvt, page-30

Why setup a NSR if it was only going to get effectively cancelled? Why not have a higher NSR if as you say it has state stamp duty ramifications and it would all come out in the wash anyway?
Why would it be included in the economics of the expansion project if it was effectively cancelled? They made a point to add it in the footnotes to refer to the royalty details. You would have thought that if the royalty was effectively cancelled in the consolidation they could have mentioned it? Or even in the announcement of the move to 100pct of ownership of Century Bull? Century Bull could have easily monetised the royalty by selling to another party without having to disclose prior to NCZ acquisition.

Unless the company explicitly states that it still has 100pct the ownership of the royalty sold to Century Bull it would be prudent to assume it is cash paid out.