What's PGM Worth ?, page-2

To support your comments Olympian I would point out that the figs re AUZ I believe come from the Qtly and wonder how they account for the following sentence in the AUZ qtly near the end of of Appendix 1.
Suggests the $4m is due B4 end of Qtr and left me wondering if it should have been included in projections. Should the outgoings be nearer $8m Just maybe the position is worse than you paint. Yet they continue to report a future drilling programme for Flemington. Do you want to revise your 2c PP.
I also add JRV has recently sold its 1.5 royalty on Flemington to I think cobalt 27.

AUZ Qtly App 1
"The Company has a final payment of $4 million due before September 2018 at which point Australian Mines will hold 100% interest in the Flemington tenements."