RE: Nevada gold"The Company has also agreed to pay a 3% net smelter returns royalty ('NSR') from production, and has the right to purchase 1/3 of the NSR for US$1.0 million for each million ounces of proven reserves."
As I read this, they can purchase only 1/3 of the NSR. That 1/3 goes up in cost with the ounces of proven reserves found. 3 million ounces proven, then US$3.0 million to buy back 1% of the NSR.
Looks like a real roll of the dice (to judge by the terms, with nothing upfront), both for the vendor and for MOA. Let's hope MOA's seen something interesting . . .