RE:RE:RE:RE:RE:RE:RE:RE:RE:Eurasian Minerals Announces Royalty Interests on Timok JVThis is from the SRK Technical report available on Sedar.
3.2.3 State Royalties and Royalty Agreements
The Serbian government raises a royalty of 5% net smelter return (NSR) for metallic raw materials (status as of 2011, Guide for Investors, Ministry of Natural Resources, Mining and Spatial Planning) and then there are additional royalties which may be due; these are individually negotiated for each mineral licence.
The following is a description of additional royalties pertaining to the Property from the listing document dated 12 September 2011 (Reservoir Capital Corp. 2011) and the press release by Reservoir Capital Corp. dated 21 June 2010.
The Brestovac portion of the Brestovac-Metovnica property is subject to a 2% NSR royalty on gold and silver and a 1% NSR royalty on other minerals pursuant to a royalty agreement.SRK Consulting Cukaru Peki NI 43-101 – Main Report U5674 CP NI43-101 Report_v35.docx January 2014 Page 10 of 82
The Metovnica portion of the Brestovac-Metovnica property is subject to a 0.5% NSR royalty pursuant to a royalty agreement ("Euromax Agreement"). As the Metovnica property was previously owned by FMEC, who conducted geophysics and limited drilling, the NSR royalty will not apply to any portion of the property eventually owned by FMEC