Ann: Writ from Estrella Resources Ltd, page-27

Let me walk you through this slowly, because clearly the concept of a royalty agreement has sailed right over your head.

ESR doesn’t *have* to prove anything. That’s the beauty of holding a royalty—**they’re not the operator**. They don’t explore, they don’t drill, they don’t mine. They sit back and let someone *else* do all the heavy lifting. In this case, that someone is Auric.

Auric is the one mining the land. If they disturb lithium while mining for gold—which is *entirely possible* given the geochemical context—then under the terms of the royalty, they owe ESR. Period. It’s not about ESR investing millions; it’s about Auric being legally obligated to process and pay for what they dig up.

So no, ESR isn’t “money grabbing”—they’re enforcing a legal instrument they already own. If Auric wants to spend the next 12 months twisting drill collars like contortionists to dodge any and all lithium zones, be my guest. But if even one drill intercept turns up economically significant lithium, it’s game over. ESR gets paid, and your “money grab” argument looks like the half-baked deflection it always was.

This isn’t a partnership. There’s no “cash injection” coming. The onus lies 100% on Auric to avoid tripping over value they don’t own. Good luck with that.