I understand it is for borax alone and don't mind if they filter...

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Thesi

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2622

29/11/16

20:54

Post #: 20976821
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Originally posted by stakx ↑

Hi @airconditioner and @Thesi , I found this on the 20160919 ORE Fin Year statement. I am assuming Galaxy has to cross through ORE's property to gain access to the Salar. Page 22 of 110. They want 1 million dollars from all parties including Galaxy. Do you read this as a 1 of payment or a yearly access payment? I understand it to be a yearly payment.
You might use this in your costings for SDV
Cheers stakx

Properties
Borax Argentina also owns the tenure on all or parts of the lithium projects being progressed by other lithium
exploration companies, including Lithium Americas Corporation Ltd. (TSX:LAC) at Salar de Cauchari, LithiumX (TSXV:
LIX)/Aberdeen (TSX:AAB) JV at Diablillos, and Galaxy Resources Ltd (ASX:GXY) at Sal de Vida. As one of the
conditions to extract brines, these companies are required to make payments to Borax Argentina either as fixed
annual payments or a royalty related to production. The terms of these agreements are detailed below.

Galaxy
Resources
Sal de
Vida 1,100 6-Jan-10
Exploration
and
Usufruct
None 1.0% Indefinite
Royalty can be
purchased by
Galaxy for
$1,000,000.

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I understand it is for borax alone and don't mind if they filter it out and place it in a pile somewhere or send it on to Orocobre.

That said, 1 million dollars is now chicken feed.

GXY Price at posting: 42.0¢ Sentiment: None Disclosure: Held
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