How much per oz. of gold FIU is selling to FN ??I am confused!!
could anyone tells me exactly
how much per ounceFIU is selling to FN under their previous mutual agreement they made to supply to FN
life long25% of FIU 's production
Below is the abstracts from the MDAA report of FIU:
(the link is:
https://www.firsturanium.com/sjfu/action/media/downloadFile?media_fileid=1699 )
FIRST URANIUM CORPORATION
MANAGEMENT’S DISCUSSION AND ANALYSIS
of the financial results
for the year ended
March 31, 2011
- in November 2008, a definitive agreement with Gold Wheaton (Barbados) Corporation ("GW"), a wholly-owned subsidiary of Gold Wheaton Gold Corp. ("GLW"), whereby GW acquired the right to receive 25% of the life-of-mine gold production from MWS (the "MWS Gold Stream Transaction") for $125 million upfront consideration
In December 2008, First Uranium entered into the MWS Gold Stream Transaction with FN pursuant to which FN paid MWS $125 million upfront. In addition, FN will make an ongoing payment equal to the lesser of $400 per ounce (the Fixed Price) (subject to an annual inflation adjustment of 1 percent, starting in the fourth year after following receipt of the first payment) and the prevailing spot price per ounce at the time the gold delivered by MWS under the contract.