RE:My questions
I have been in contact with GRG to have these and other similar questions answered. Below are my responses based on my DD. Please consider them preliminary and verify as part of your own DD. Hopefully, the conference call will also help this as mentioned.
- GRG obligation towards the Capex is only $10mil USD, to be paid in the 1st year towards construction...thereafter, any payments (25%) would be towards maintenance since the Capex would already have been spent.
- GRG gets 25% of Pirquitas profits from the initial date of the agreement back in 2015. Additionally it will get 25% of the ongoing profits from the Pirquitas now that it owns 25% of it (as of the closing date of the agreement).
- Currently further development of Chinchillas is being considered and planned but will likely not happen until permitting is complete. GRG's share of the costs will be 25% based on its ownership of the project.
GL longs