Says (i) USD$10 million within six months after completion of the BFS; and (ii) USD$12 million within ten months of the payment referred to in (i) above.
At current price of US$7900/tonne this payment would be only about 0.7% of the copper sale value and possibly payable on production.
From requirements for the initial mining operation I'm guessing the initial jorc is likely to be co-incidentally around 350,000 mt hopefully from a >4% ore.
TGS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
