Ann: Galan Signs Pivotal Commercial Agreement with Catamarca Govt, page-209

Agreed, that could be something else that was pending this agreement. Who knows, also the improved Glencore terms from ability to export could offset the increased royalties, except as they're confidential (except probably to the financiers) we and analysts don't get access to that.

Yeh, 7% locked in is better than GLN telling them "hey it's under negotiation in conjunction with the export licence thing, we can't tell you what the terms are but give us money anyway ye?" >.< I can't see that conversation going very smoothly. If I was handing over $100m I'd definitely be inclined to say 'give me a call when you know what the final terms are will you?'.