Post by
mingzhu on May 06, 2024 2:26pm
Lee Barker on royalties and Buyout, natural Gas property
"original vendors have a separate royalty payable by Eldorado -nothing to do with ours--royalties only get paid on production not exploration
Our royallty is a 2% NSR and Eldorado can buy 1% for $CAD2.5M --- if Eldorado buys the remaining 25% they must pay us $1.8M plus a 4 year cost of living adjustment --nothing goes to the original vendors --they have already been paid off and transferred 100% of their interest to Sparton of which Eldorado now has 75%---
Chebucto at moment is not worth much --Natural gas is all time low prices and Exxon Mobil shut down the SOEP in 2018 we only pay $250 per year to hold it"