- The agreement requires the principle contractor, Mintails Mining SA (Pty) Limited (“the Contractor”), to undertake and fund all preparatory works, ore extraction, transport, processing, gold recovery and rehabilitation costs at Sol Plaatjies. Following recovery of costs by Contractor West Wits will receive a priority payment equal to the prevailing value of 0.6 grams of gold (currently circa USD 25) for each tonne of ore taken in the previous month. Subject to payment of that amount in full to West Wits thereafter the Contractor will be entitled to a payment equal to the value of 0.4 grams of gold for each tonne with any additional surplus cash then shared equally between West Wits and the Contractor
I agree we don't know what the extraction costs will be but it's in the contractors best interest to also get .4 grams plus half the rest
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The agreement requires the principle contractor, Mintails Mining...
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