no interest of late...
What I am worried about is the % of royalties they get form the ops in Indo, which are all managed by their partner in Indo.
I recall reading somewhere this was 3%, is that correct? Their updates never mention it, and are read like it's them doing all the delelopment or exporting, even though they don't spend a penny, are only get a very small royalty.
If so, that means that would be entitled to 3% of 30000mt, for the last shipment, and 3% of expected monthly export.
so at say $75 per mt, thats about $67K for last shipment and about $113K per month going forward.
This seems like very little to keep them running.
Am I missing something?
Thanks
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