I knew they didn't pay upSA must have sucker written on their face. This guy at the time of the MD&A did not pay up. I guess this is common place in Indonesia. Say that you will pay what they want then come up with excuses. Lombok is next for the same treatment. A pay as you go mining contract. Cheers.
"In February 2014, Southern Arc and the Purchaser renegotiated the terms of the purchase and sale agreement, whereby the Purchaser will purchase Taliwang in exchange for US$1,600,000 and the granting of a 5% net smelter royalty to Southern Arc. The Purchaser has the option to buy back 3% of the net smelter royalty by paying Southern Arc US$3,000,000. As a result of the renegotiation, Southern Arc has recognized an additional $1,889,096 of impairment provision against its book value of the Taliwang property. To date, the Purchaser has made payments totaling US$700,000. The Taliwang property has been classified as an Asset Held for Sale pending completion of this transaction."