RE: RE: RE: Rumor MillWithout seeing the JV agreement, it would be hard for me to speculate on how the pie is divided. In addition to TZ's cut- whatever the tax rate- keep in mind that Ruby will bear all the costs of production. They believe they can deliver the gold for under $300/oz. (my conservative number). And I'm uncertain if that is inclusive of all their startup costs or assumes a future well-oiled operation. So even using your est. of $1100, you need to discount expenses before trying to determine Douglas' royalty payments. The upside for Douglas is; 1) virtually zero further related costs, so the profit is near net from the outset, 2) an increased value in the remainder of Mkuvia, 3) the ability to go forward on their other hard-rock properties and 4) nominal further dilution if any. That upside for us shareholders remains to be seen. But I think we'll get a peek in the very near future if the plans materialize in the expected time frame.