IVZ 3.08% 6.3¢ invictus energy ltd

Mines and Minerals Awaiting Gazette, page-13

  1. 714 Posts.
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    Interesting. Thanks for sharing. There are many applications across all types of mining in this. However, the bit that got me was Section 229. It deals with royalties but more specifically the royalties to be paid in the case of a Special Grant which is directly applicable to IVZ.

    229 Rate of royalty and annual fee
    (1) Notwithstanding anything to the contrary contained in Part XIII (“Royalty”),
    provision may be made in a special grant stipulating for the payment of royalty on all
    coal, mineral oils or natural gases, nuclear energy source material or strategic minerals
    won by the grantee under his special grant at such rate as the President may fix.
    (2) Provision may be made in a special grant for the payment by the grantee
    of such annual fee as the President may fix as consideration for the issue of the special
    grant.

    So, in order for the PPSA to be legal, this little section need to come into effect prior to the PPSA being signed.
 
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