iron ore update, page-33

Can I just clarify a few details with those tracking it all more closely? Either I never knew or have forgotten - hard to recall which it is sometimes.

I liked noting how the agreement is for a royalty that relies on a JORC and not production and also pays on resources that are 'indicated' and not just 'measured'.

Does this mean that the full whack of $10m falls due as soon as they publish a JORC, provided it is big enough?

Then, having paid a total of $10m, Vale can then pay the rest (up to total $40m) in a separate transaction to buy all the iron ore present?

Is the JORC going to tell the full tale when it comes out - i.e. that it will generate more than $10m and also, at the same time, what price Vale will need to pay (capped at $40m)?

Then, if there are other economically recoverable minerals there, AVB retains the rights to them after the sale of the iron ore rights but Vale has first refusal if AVB proposes to sell them, rather than mine them?

Is the 'concurrent mining' a reference to the situation if AVB retains the 'other minerals' rights instead of selling them?

Is the presence of other minerals being assessed by this other exploration program not yet arranged where AVB might appoint someone else to do it?

(Apologies if i have mixed up the sites and circumstances)

thanks