Yeah i just don't get that unencumbered line they mention all the time. They already owned 100% of the project. A net smelter royalty of 2% owned by another party does not in any way affect ones decision making process about what you want to do with the project. The company was free to do what it wanted. I think they keep parroting the line to justify making the decision to buy out the royalty for $3M.
Mining laws are on a state basis. So NSW needs to get proactive. I remember the Queensland govt rescinded tenement rights from i think a French company over large bauxite deposits in FNQ. They were essentially land banking the deposit. So were told develop it or lose it !
Yeah i just don't get that unencumbered line they mention all...
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