The Dynacor Tolling Model Perhaps the one that might be used by Maritime..
Lets take 100,000 ounces per year as illustrative
DNG pays 85% of Spot Price for gold ore delivered to the DNG mill.
Basically, equivalent to 15,000 ounces per year in a streaming deal
DNG then processes and mills that ore , and sells it at Spot Price...reporting gross sales as its revenue
The operating margin is 11.5% of gross which is 11,500 ounces of operating cash flow .
The net margin is about 6.5% which is 6500 ounces as free cash flow
From this, DNG pays a dividend .
DNG has the only mill available to these miners.
Shoreline Aggregates...a JV partner of Maritime...then uses the waste ore for its aggregates market in the US .
Residual gold fines associated with this waste ore is then recovered by a gravity circuit installed at the outlet of Shorelines Wash plant .
Shoreline have the mining equipment..excavators etc..and crew such that Maritime is now employing Shoreline to reclaim Maritime's TSF#1 , recovering tailings gold fines in the process.
Its a very efficient model , eventually recovering nearly 100% of the delivered contained gold.
Firefly...market cap $700 millin ..has already arranged with Maritime to use its Point Rousse Deep Water Port for its copper concentrate business.
Other JV ventures are obvious.
AIMHO
GLTA