Keep in mind that the Reefton royalty is not a fixed dollar amount, it is paid in ounces of Gold. That means in the last few weeks we've seen the income from this royalty alone rise from a gross value of approximately $5.75m (@ A$1150) to $6.25m (@ A$1250) per annum. If we see AUD Gold back to it's high of A$1500 it would be $7.5m per annum. Bodes well for the potential dividend, infact with extra income we will likely see results out of Pao sooner or an increase in the dividend payment...I'd be fine with either.
With interest in Gold and Gold miners building don't be surprised to see some of the other potential projects that could be paying a royalty come online sooner than expected also.
We have a very special stock here...will be a rewarding one to hold long term IMO.
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