But announcement states: "Geko is a party to a Tenements...

But announcement states:
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"Geko is a party to a Tenements Acquisition Agreement with Golden Eagle Mining Limited ("GEM"), an unlisted company, dated 19th December 2014, whereby GEM is acquiring the project under certain conditions from Geko in return for a royalty."

GEM is acquiring the project under certain conditions.

All BNR may end up is with a royalty agreement which isn't bad return of $6.5m.

Or BNR may end up with the project if GEM fails to acquire the project. Unsure what the trigger is to own or default is either.