Birim Goldfields Inc. (BGI-T) Message Board

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Gold/Mining/Energy : Birim Goldfields Inc. (BGI-T)

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To: jacq who started this subject	4/27/2002 11:08:11 AM
From: The Barracuda™	Read Replies (2) of 922

Gold over $300/oz so don't forget this: The amount representing the advanced payment royalty will be based on the number of recoverable gold ounces, oxide or sulphides, as established in the feasibility study, nearing completion. In the case of the oxide gold ounces, Birim will receive US$20/ounce for the first 40,000 ounces, US$25/ounce for the next 20,000 ounces and US$30/ounce for those beyond 60,000 ounces. For the more refractory sulphides, the rate is equal to 50% of the amount given for oxides. An escalation clause provides for an additional US$0.20 per ounce for each US$1.00 exceeding US$300 per ounce up to a maximum gold price of US$350/ounce.

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