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Gold/Mining/Energy : North American Palladium(AMEX:PAL)- PGM Producer
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To: dave brown who wrote (387)12/24/1999 1:30:00 PM
From: Ptaskmaster  Read Replies (1) of 976
 
"SPG Commitment.
The Company is required to pay a royalty to SPG commencing May 1, 1994 equal to 3% of the defined Net Cash Proceeds up to December 31, 2000. Thereafter a royalty of 5% of the Net Cash Proceeds is to be paid until the expiration of the Lac des Iles mine leases." The SPG royalties are paid through the metal processor.

From NAP 1995 Annual Report, p. 35.

Ptask
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