exs advise sol offer inadequate take no action, page-20

Does anyone know on what possible grounds they could claim that no royalty is payable.

Scott,

I believe the answer could be that Sol's management of The Great Australian/Copperchem has been inept and they haven't been able to manage the resource, or the plant, or the production correctly which has caused cost blowouts & reduced production resulting in revenue that was not up to their initial expectations.

So, one way for them around this was to:-

a) Request amendments & drawn out payment dates; and

b) Re-neg on the original Agreement royalty; and

c) Potentially re-neg on the whole Agreement

... and these could be the factors that explain their actions.

We don't need Copperchem - Copperchem needs us! Having said that, it's a different ball game with Sol and their 20 odd entities.

I was rather hoping that Taurus might have put their hand up for some of the Ivanhoe/IOOF scrip., but I don't think this is the case.