Mart Resources Inc MAUXF

RE:RE:RE:RE:RE:RE:Mart´s 2014 Cash flow projection

[lepton1]

Mart hasn't been putting the royalty table in their filings recently, but look in the MD&A for the year ended December 31, 2009, on page 4, which gives a full description of the marginal field royalty due the Government and also the royalty owed the previous licenseholder.  Also please note that the royalty is calculated on an incremental sliding scale basis, so an 25,000BD production level does not have a flat royalty of 26%, but is based on the individual tranches and rates shown in the table on page 4. 
My guess, and it is only a guess, is that once production exceeds 25,000 BD, it is no longer considered a marginal field by the Government for royalty purposes.  I think the regular onshore royalty is 20% (again, I don't remember, so you need to check).  I also would assume the 7.5% royalty to the previous licenseholder stays constant at that level.  The 2009 MD&A is available on SEDAR, if Mart doesn't have it on their website.