Ann: Trading Halt, page-50

FEX did a right to mine deal with Sinosteel with $1/t + $2/t royalty + profit share...... Depends on whether they wish to retain the asset. RIO wouldn't go for this sort of deal though, but a smaller player may.


From FEX WB11 announcement
The Transaction consideration payable by Fenix to SMC comprises: • An upfront payment of $5 million in cash upon execution of definitive documents; • $5 million milestone cash payment, payable upon receipt of mining approvals; • a fixed $2 per tonne Base Royalty payment; and • a variable Profit Share Royalty based on a share of notional profit, calculated as actual revenue received for Beebyn-W11 shipments, less certain actual costs, less a fixed margin (as detailed below).