no brainer investment at these prices, page-16

It is from the 1st tonne produced and for 20 years of production thereafter. That is obvious but I'm happy for somebody to show me any indications that this might not be so.

I'm comfortable in my assumption that the royalty doesn't discriminate between different grades of coal (again, there are no indications saying that that different grades effect the royalty payments). However, if I did suspect that it did (despite no information implying this) I wouldn't hesitate to contact LNC and ask them this question. They have been responsive to questions and criticisms that I've directed to them before.

It would be easy to continue asking such questions Danhold. Is the royalty weather dependent, is the royalty life suspended if production is halted due to war, does the royalty get adjusted for unexpected taxes like the carbon tax, etc... But I'm comfortable with the information that I have seen regarding this and that's why I am an investor, particularly at these prices.