Here is what was included in the 2023 AR regarding royalties....

Here is what was included in the 2023 AR regarding royalties. NRW royalty is now $0 (see note to accounts as it has been settled as describe in the note titled "NRW liability payment arrangement") and Tembo which is now valued at $6.3m ( see note titled "Future royalty obligation"). Images of AR set out below including the note on "Mine properties, property, plant and equipment" showing net value. Using the royalty of 1.8% (see note) One year of production of 130k Oz equates to about $6.3m in royalties at a POG of $2,700 (or about $48 per Oz). That is all the royalties they have unless they have not included other royalties in the AR (which would eb very naughty).