Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-17

Nice. Here we come 22 million per annum royalties.

Key numbers for me from above to establish the 5mtpa are:

Last Quarter Royalty was based on: ramp up volumes

Oct to Dec Quarter will be based on expected volume of: 2,212,000 wet metric tonnes.
Increasing to first quarter Jan to Mar next year, expected volume of: 2,585,0000 wet metric tonnes.

Based on this they are doing 5mtpa (4.797mtpa) already every 6 months.

So it appears by end of next Q the mine will be operating at 10mtpa.

Gents this royalty (next 10+ years) and potential for more acquisitions / development of existing permits puts TLM in an extremely enviable position.