The royalties situation I think is Ok with Tiger - there are those out there with 1% or even 0% (Dikulushi?).
Be it as it may - a point or more on TGS royalty is not really dent project profitibility - just drill another hole and pick another 100mts @ 3-6%. That simple really.
To be honest I dont know when or how Congo minerals negotiate the original license - likely pre 2004. HOWEVER post 2004 Geccamines (state mining company) was party to and ratified the existing deal. To accuse tiger/congo of impropreity in effect is charging the governement themselves with the same offence.
Guesse that makes Tiger safe over contract.
Only thing open then is whether exploration/drill targets and expenditure by Tiger, agreed under the buy in, have been met. Sure looks to me that five rigs burning 24hrs a day and a gazillion meters of core samples meets the mark. JORC compliant in Dec, BFS in Jan. Hmmm.
Tiger looking safe.
TGS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
