This is very important.
"“Given the size of the mineral resource White Devil may, once additional development studies are completed and accepted by
TCMG – a wholly owned subsidiary of Pan African Resources (PAR), become the first deposit to be classified as a Major Mine Deposit under our Joint Venture agreement. This will result in Emmerson retaining up to a 40% contributing ownership of the deposit rather than receiving a 6% gross production royalty since the deposit is greater than the 250,000oz gold threshold for classification as a “small mine”.
"up to 40% contributing ownership"
Will they retain the full 40%? I dont know how this is calculated.
And they will have to pay development costs, maybe including up to 40% of past drilling by TCMG.
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- Ann: White Devil Expands Tennant Creek Mineral Resource to 866koz
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Ann: White Devil Expands Tennant Creek Mineral Resource to 866koz, page-6
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