about time huh!
Gold royalty now worth almost $5.5m per annum too(which of course is pure profit...ie they dont contribute to operating costs). Royalty based on gold price for at least 5 year (or is it 7?) then converts to a standard production smelter based royalty.
Mkt cap currently around $24 million with $8 million in the bank. So without cash, 16 million...yep the royalty for just the first 5 years is almost double! Expect a dividend!!!
Every $100 increase in AUD gold price adds another half a million royalty revenue.
Unfortunately the commencement date of the royalty is still subject to legal dispute...the market seems to be translating this as 'the royalty may never be paid' which is stupid...the royalty WILL be paid, its just a question of WHEN it starts...and that cannot be later than October. RCO are arguiing that it should have already commenced (from January) Oceana are arguing October...key point.
Cdchi1
about time huh!Gold royalty now worth almost $5.5m per annum...
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