RE: Bell posting on X/Twitter12 Mar 2025 15:11
Boring Boy,
Trying to create a Greek Tragedy out of factual information. The information is what it is.
"Red Rock Resources has announced the sale of 50% of its 1.5% gross production royalty over any production from the Mt Ida iron ore project. The sale is for a total of $14 million to Anglo Pacific, for a combination of cash
and shares. This is to be paid in three instalments, with an initial $6 million for 0.3% of this royalty and the reminder paid on reaching the key milestones of a
formal decision to mine and commercial production beginning"
This is from February 2012. So again, something that nobody was interested in but somebody was willing to pay $14m for half of it.
Two payments of $4mil remain outstanding: the first is due of FID and the second on start of commercial production.
Note Jupiter was planning 10mil tonnes pa.
DYOR