The following is from the other site but think more should read it.
The $500m is above 30c for FMs . because T obtained 50% at a lower price there average would be less than half.
$10/t royalty is nice. It goes to show that the price is what it’s worth rather than 10%-20% above market SH price.
It should be noted (before SH are blamed) that SH are not holding up employment of staff, payment of royalties or opening of mine. PIOP was ready for mining in 2011. That is, SH finished financing exploration, and started financing the next statage with BFS.
The last four years is T maturation. Wait a little bit longer and they will have to go to 75mt/A and another maturation. Only ones in the Pilbara.
Ann: Quarterly Activities and Cashflow Report, page-59
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