OTCQX:HBORF - Post by User
Post by
Snegamookon Oct 02, 2005 9:43pm
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Post# 9646404
Hitting one million ounces
Hitting one million ouncesIf this happens, the jv will form another jv with a producer, likely Barrick, which will want at least 70%. This leaves LAK with 30% of 30%, or 9% of the operation, plus any net smelter royalty. One percent at 100,000 ounces a year would yield LAK about $500K annually. Unless there is some real shrewd dealing with the operating agreement, the 9% wont be worth much. The operator's accountants will see to that!