RE: Re-rating is on its way4 Nov 2020 21:11
In fact, A$400,000 is only the initial payment. There will be production milestone payments too:
Initial payment of A$400,000, comprising A$50,000 immediate payment, followed by A$350,000 on completion, including FIRB approval,
-- First production milestone payment of A$300,000 upon cumulative sales reaching 25,000 ounces of gold,
-- Second production milestone payment of A$300,000 upon cumulative sales reaching 50,000 ounces of gold.
Therefore, if THOR has only received the A$50,000 immediate payment then there will A$950,000 to come yet(350,000+300,000+300,000)...lol