The SC project is subject to a 3.5% Net Profits Interest to Royal Gold and a 30% Net Proceeds Interest to Liard. The 2013 FS did not include any royalties in that financial analysis. These NPI's are a burden on the project economics because money goes to third parties who don't pay capital or operating costs. You have to read the agreements to understand how they are calculated. Since they were written in the 1960's they will undoubtedly be subject to interpretation, which is likely the cause of the delay in getting agreement how to incorporate in the economic model. I don't where you get a dividend out of this. The fact that the JV , and CUU has 1.55%, owns the majority of the Liard shares only means they pay less to Liard.