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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Message: 1% NSR
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https://www.businesswire.com/news/home/20210811005778/en/Royal-Gold-Acquires-Royalty-on-World-Class-Red-Chris-Mine%EF%BB%BF

Royal Gold paid $165M US for a 1% NSR, which is roughly based on around 92% of the revenues.

Based on our conservative PEA for SC:

  • Estimated revenues (LOM): 353Mlbs CuEq x $3.25 US = 1.15B US
  • 1.15B US x 92% = 1.06B US

Our 25% is expected to generate $88M US (351.2M x 25%) of profit per year (LOM) once capex is paid.  $88M US against 1.06B US of applicable revenues per year (LOM) is about equivalent to a 8.3% NSR.

From my calculation, at today metal prices, projected SC revenues are ahead 15% vs. the projected Red Chris revenues.

Do the math!

IMO.

MoneyK

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