North American Palladium(AMEX:PAL)- PGM Producer Message Board

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Gold/Mining/Energy : North American Palladium(AMEX:PAL)- PGM Producer

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To: Elizabeth Andrews who wrote (513)	3/8/2000 3:40:00 PM
From: Ptaskmaster	of 976

You are correct, it appears to be a NSR. I found a hard copy of the 1996 Annual Report [Form 20-F] which stated on p. 38 under related party transactions (note 13 to consolidated financial statements): "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. All SPG royalties will be paid through the metal processor who separates the concentrates and related processing charges into two parts, one of 97% belonging to the Company and one of 3% belonging to SPG, which is paid directly to SPG." Ptaskmaster

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