Undervalued, page-29

The way I understand the Edna may purchase is this.
They payed 40 million.
They can mine 200 k ounces for that and pay nothing if they don't mine pit 3.
After that they have to pay royalty either at 60 dollars an ounce or 100 dollars an ounce.
So they if they make 200 dollars an ounce profit they get back the 40 million they payed. Timeframe : maybe 2-3 years.
If they start mining pit 3, they have to pay 20 million or issue shares to that effect. And then they pay only 60 dollars an ounce not 100 dollars an ounce royalty above 200k ounce production.
If it does not work out, 40 million cost Max if they don't mine over 200k ounces.
The more I think about it, I think we got a good deal,as long as we can recoup most of the 40 million over the next 2 or so years. I am comfortable to take that chance at this point.
Glta. I am holding