That was my first thoughts but reading in to it we will be getting some form of income from their ore and lithium. Points 1 & 2.
Not sure what this equates to in $'s but it will certainly strengthen our Balance Sheet and potentially reduce the need for Cap Raising or reduce the amount required in any future Cap Raising?
I like it. I will await someone much more knowledgeable to provide their analysis though.
1. A royalty of $2 per tonne of ore mined and 1.5% of sales revenue from lithium (and associated minerals) from a portion of Location 53, part of the northern orebody of the Mt Marion Lithium Project owned by Mineral Resources Limited, Gangfeng Lithium and Neometals Limited. The Mt Marion Lithium Project is a globally significant lithium mine.
2. The right to explore and mine lithium (and associated minerals) from the remainder of Location 53, located immediately north of the Mt Marion Lithium Project. A number of immediate exploration targets have been identified by Westgold.
3. The right to explore and mine lithium (and associated minerals) from Location 59, west of the Mt Marion Lithium Project. Westgold has developed an exploration program at Location 59, targeting pegmatite potential in the southern part of the land holding.
4. A royalty of $2 per tonne of ore mined and 1.5% of sales revenue from lithium (and associated minerals) from the Buldania Lithium Project owned by Liontown Resources, located in the southern part of the Eastern Goldfield region, which hosts the Mt Marion and Bald Hill Lithium Projects
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