Can anyone explain the paragraphs below that were in the Quarterly Activities report. If West Wits have given the Consortium an interim contract to mine the resource pending transfer of Title, is West Wits getting paid anything for each tonne. If they are getting paid is this coming off the $3,000,000 being the last part of the deal. I am a little confused about this part of the deal and also the $3,000,000 part of the deal.
"West Wits has also agreed to grant the
Consortium an interim contract to mine the resource pending transfer of title. As ore is extracted under the interim mining
contract the Consortiums’ security rights against the $5,000,000 advance will progressively reduce by reference to the
number of tonnes delivered for processing."
Can anyone explain the paragraphs below that were in the...
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