The royalty I was told was only to be on the first 1.5million ounces produced
So $50 would equate to $75million. Then again the roayalty will not come in till at least another 2.5 to 3 years as the mine has to be built.
In regards to the construction I believe Nkwe signed a option agreement that Xstrata will fork out all the costs for a 50% interest. Whether this goes through I believe we will find out by year end.
Maybe you are tight that they may have to raise like $100million down the track anyway to either pay off the loan or working capital commitment.
Selfsell,
I hope your crystal ball is wrong mate hahaha
But I guess all shareholders frustration with TS (Total Sh#thead) is justified.
Good Luck to all
IGC Price at posting:
22.0¢ Sentiment: None Disclosure: Held