BonTerra Resources Inc V.BTR

Revised SSL Terms agreed - completion plan?

[JRafflesUK]

Has there been an update of the recent position regarding the revision to the SSL agreement:-

• How many 1,500 ounce gold ounces tranches have been paid towards the 12,000 revision threshold deal, in order to convert the original 20% stream to a reduced NSR?
• Is there any time limit on BTR paying $2m to SSL in order to reduce the NSR from 3.9% to 1.8%
• If BL is now closed for upgrading, BTR will be required to pay the minimum 1,500 ounces of gold quarterly to SSL from treasury funds.
• Should a decision be made to set aside funds in order to buy gold ounces to pay off the balance of the 12,000 ounces, before gold rises to ~ $1350.

Source:-
https://www.sandstormgold.com/news/press-releases/sandstorm-gold-announces-amendment-to-bachelor-lake-gold-stream

Sandstorm will purchase 20% of the gold produced from the Bachelor Lake mine at an ongoing cost of $500 per ounce, until 12,000 ounces of gold have been purchased by the Company at which time the gold stream will convert into a 3.9% net smelter returns (“NSR”) royalty. Metanor has agreed to sell a minimum of 1,500 ounces of gold to Sandstorm on a quarterly basis until the 12,000 ounce threshold has been reached.
For consideration of the gold stream amendment, Sandstorm will also receive:

• a 3.9% NSR royalty on Metanor’s Barry project; and
• US$2.0 million in Metanor common shares. Based on the 20-day volume weighted average share price of Metanor on the TSX Venture Exchange the number of common shares to be issued will be 3.16 million.

Metanor may elect to reduce the 3.9% NSR royalty on the Bachelor Lake or Barry projects by making a US$2.0 million payment to Sandstorm in each case (the “Purchase Option”). Upon exercising either of the Purchase Options, the Sandstorm NSR royalty will decrease to 1.8%.