ERM 3.33% 6.2¢ emmerson resources limited

Tribute Arrangement, page-2

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    I'm pretty sure the deal is that ERM receive $x per ounce from the gross sales. So irrespective of the AISC that our partners can manage, we get a fixed amount per ounce sold.

    I don't recall where I read this and I may have hypothesized it so DYOR but it makes sense to me.

    The latest 5B doesn't detail any production income for Q4 as the mining commenced in late June but I suspect we'll get a view in the FY18Q1 5B. Whether or not we'll be able to deduce the agreed rates by dividing the income by the ounces sold is all dependent on the company releasing the two requisite metrics: ounces sold and tribute revenues.
 
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