re: Ann: Advanced African Gold Project Joint ... "African Eagle has granted MHM an exclusive period of three months, extendable by a further three months at MHMs
sole discretion, to review and conduct due diligence on the Miyabi title, data and other relevant information."
that means we will know the "Decision to Mine" either mid August or mid November.
"Following a Decision to Mine, the Parties will invest a minimum of 12% of pre-tax net revenue into exploration of the Miyabi Gold Project Area, contributed pro rata to their respective interests."
what is the approximate amount of net revenue here?
aluminium income for March quarter is about $1.1M, if I assume the next two quarters have the same income, then by mid August MHM will have at least $2.75M+ and is this enough to cover the minimum payment?
Ann: Advanced African Gold Project Joint Venture , page-48
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