wallal downs iron ore fast track, page-10

thanks JD1, I just re read the gda media release I posted at the start of this thread and it says ausprey are entitled to 1.25% not 2.5%.....an extra 1% in the company vault than what I thought, good.
I can't work out what warren means by "gross net" though ?
Has to be one or the other I would think,hope it's net,i.e., after expenses. If we do a jv we want gross royalty from them but if we give it to someone else we should be negotiating a net royalty. There is a big dolar difference to the bottom line for GDA.
It's good being able to talk about a royalty in the first place. To pay one means we are getting income and have moved from explorer to producer status.....which should be our goal.
I am hoping the board get some rock chip samples in Feb and test for Fe content. More than 25 samples would be good. 100 would be much better and give a better indicator of volume targets/ potential. Some rock chip samples would add substantial value to the share price in a short period of time and attract interest from joint venture partners which could give us a free carried interest.
I will ask the Executive Director of Gondwana, Warren B to consider this early sampling program. If we go it alone and fund the mining operation we will need a cash injection to realise the asset value.
I am currently calculating a guestimate on potential Fe volumes from a best case scenario, to a mid range and to a small scale strike. I will post on this thread asap my calcs'.
FS