It's not really reduction though. With the royalty fee embedded in the interest on the loan they are paying something like 15%. At $20m in debt, they're incurring ~$3m/year in interest (75% of which is capitalised) which is basically what they are putting on loan reduction. Also, how does selling off these assets affect the royalty buy-out clause?
It's not really reduction though. With the royalty fee embedded...
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