American Creek Resources Ltd V.AMK

TUO website explains everything re NSR on

[Galaxym31]

ten properties including TC core at .98 % ,all with no buyback .

[Bulabula]

Thanks. TUO's list of  royalties are explained clarely in their web site but I have spent hours in Sedar and still do not know why AMK has to pay $3m for the royalty. 

[Galaxym31]

what royalty ?

[Bulabula]

Sorry, did not know there is a difference between royalty and NSR.

[dando127]

https://cdn.ceo.ca/1fj8u3u-CheckCode.do.pdf Copy and paste that into your browser page 8 of this document describes the terms under which AMK can buy back the NSR.  The way I read it......it says they can buy back 1% NSR for $1.5 million after the resource estimate is complete, and have the option to buy another 1% NSR at any time.   It's a little more complicated than that

[dando127]

Here is the text........ 8. Commitments Amended NSR Agreement During 2016, the Company issued 15,000,000 common shares at $0.05 under an amended agreement with arm’s length third parties that hold a NSR related to the Company’s interest in the Treaty Creek property located in NW British Columbia. The amended agreement reduces the prior $6 million payment obligation which was potentially

[Bulabula]

Thanks again dando127.  What I see is arm's lenght parties are the current NSR holders and AMK could buy a portion of the NSR for $3m. It is good to see the term regarding the NSR holders entitlement to 25% of the purchase price tne company's sale of a 31% interest in Treaty Creek property to an arm's length purchaser has been resolved. Any idea who the current NSR holders are ?

[rockport1]

Great find dando127! It seems confusing, but I think this is the Treaty Creek NSR summary: Group I (Goldstorm included. 24 claims total) Tetuon: 0.98% NSR - no buyout Kirkland Lake (via St. Andrews Goldfields): 2% NSR - buyout of $3 million to reduce to 0.5% NSR Group II (5 claims) Teuton: 0.49% NSR - no buyout Third party? 1% NSR - buyout with Group I funds to reduce to