What problem?  Those are all well-known, understood and industry standard ownership and royalty rights.

I don't believe for a second their lame delay explanations, i.e. first it was "NPV post-tax calculations", and now its "royalties interpretations".   Any accountant or tax attorney worth their salt can bang out these tax and royalty estimates in an afternoon.

Its nothing but more "fog" being spread around to keep what is really happening confidential.

There's nothing to do but stand-by, pray and hope that Ernesto's slow-play strategy comes to fruition before the next supercycle rolls-over.  

I stand by my mid-2022 time horizon.  12-month countdown starts now!