(c) An uncapped conditional 2% net smelter royalty over Cobre Limited’s wholly-owned Kitlanya West, East Projects and the southern half of the Okavango Copper Project located in the Kalahari Copper Belt, Botswana. The licences cover an extensive land package of highly-prospective copper and silver exploration tenements over 5,384km2. These are structured as two separate royalty agreements based on how the licences are held under Kalahari Metals Limited' (100%-owned by Cobre Limited) corporate structure, with the ultimate guarantor being Kalahari Metals.Areas covered by the royalty
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