Let's put the guaranteed gold delivery debate to bAttached you will find a cut and paste from the actual FIU GW contract as found on SEDAR .
I have only put areas that deal with the guaranteed gold shipments.,
https://www.sedar.com/CheckCode.do;jsessionid=0000P8ICt21f-rmeyfX74QV5aJ3:-1
What all this means is that following the payment of gold to FN December 31, 2011 the company will only be sending 7% of any gold they mine after that. As an example, had FIU only sent 7% of the est. 12000 ounces it would have been 900 ounces at a cost of roughly 1650-400 = 1250 per ounce total cost 1,250,000 instead they sent 5212 est. which cost 6,515,000 which would have significantly lessened FIU/s Q1 loss I think.......
3(f) In calendar 2010, EMC shall deliver to Gold Wheaton Barbados a minimum of 16,500 ounces of Payable Au (the "2010 Guaranteed Ounces"), such deliveries to be made on a quarterly basis. EMC (as guaranteed by FIU) forthwith without set-off, deduction or defalcation shall satisfy the 2010 Guaranteed Ounces as follows
3(g) In calendar 2011, EMC shall deliver to Gold Wheaton Barbados a minimum of 19,500 ounces of Payable Au (the "2011 Guaranteed Ounces"), such deliveries to be made on a quarterly basis. For greater certainty and without limitation, 2010 Guaranteed Ounces delivered in calendar year 2011, shall not be included as Payable Au delivered to Gold Wheaton Barbados for the purposes of the calculations set forth in this section 3(g). EMC (as guaranteed by FIU) forthwith without set-off, deduction or defalcation shall satisfy the 2011 Guaranteed Ounces as follows
(c) Save and except as provided in section 3(d), Gold Wheaton Barbados is not entitled to any form or type of compensation or payment from EMC if EMC discontinues or ceases operations from the Project. Save and except as provided in sections 3(f) and (g), this Agreement shall in no way be construed or considered a guarantee as to the delivery of any amount of Payable Au from the Project on an annual basis or over the life of the Project.