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Gold/Mining/Energy : Pacific Rim Mining V.PFG
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To: Ross Mickey who wrote (11100)1/19/1999 8:28:00 PM
From: Bill Jackson  Read Replies (1) of 14627
 
Ross, They did not say if it was a 4% NSR, they said a 4% sliding royalty. A 4% NSR means 4% of the gold and silver recovered goes to them, regardless of profits. A sliding royalty could be after recovery of operating costs and be in effect 4% of profits on the operation. Probaly they have built in price of gold adjustments etc so it will be reasonable to both sides.

A large area like this may be an 'elephant', as this is elephant country, so a low upfront fee plus exploration and then a decision sounds reasonable to me.

Remember every prospector who stakes a claim writes a similar agreement. Small money up front and work to be done, and if it is big a royalty (NSR or whatever) and usually a royalty cap of $x million to end the royalty stream for a flat fee.

There may be more details we have not yet seen. I am optimistic.
As to the drop, who cares, we need time and a lower price allows us to buy more stock.

Bill
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