Ann: $6m Funding Agreement For The Sale of Kanmantoo Royalty, page-45

Ah Ducky, not incorrect or outrageous but not totally correct either.

Compound interest is a very complicated mathematical exercise.

Like most things though there are simply shortcut rules that save one a lot of time.

The shortcut for compound interest is "the rule of 72"

Why it works I don't know but it does.

The way it works is fortunately very simple. The number 72 divided by the number of years it takes for your money to double = the compound interest rate.

I of course erred in assuming it was a compound interest, pay at the end deal, one shouldn't post under the influence of the wallop. It's actually an Internal rate of return calculation because they get cash out annually as production progresses. The $6m and the start date are the only knowns but based on a few assumptions it seems the internal rate of return at today's prices from the first 85kt if we discover,mine and process that much might be close 35% which is a more realistic number to attract a buyer.