Hi foyt and ducky
There is another way to look at this. Rather than focus on what Freepoint might earn by way of a royalty, it’s interesting to think about what HGO will earn on the assumptions we are making.
A royalty payment of $9M to Freepoint (assuming we produce 36kt of copper) will mean HGO is earning $351M after paying the royalty. If HGO produces 72kt, or double the current mine plan, HGO will earn over $700M after paying Freepoint a royalty of $18M. If the royalty payment to Freepoint is $24M, HGO will earn $936M after paying that royalty.
I think we will all be a lot better off if HGO is able to raise finance and get on with the project. If the royalty agreement with Freepoint helps bring that about, so far as I am concerned, it is a very good thing.
Cheers, V
Ann: $6m Funding Agreement For The Sale of Kanmantoo Royalty, page-36
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