Great reply. Two thumbs up!

In speaking with IR today, I got the following...

Smelter will be determined and won't be an issue. SFMI will get the best deal possible. As far as the 15% royalty pymt, it is indeed high. But the initial investors have put their money up front with no ROI until the mill starts its revenues. So they do get a higher %.

The cash from the mill will be as follows (this is after the $1 mil in debt and 10K$ per month to Gold Corp)

first 15% to Gold Corp

then 15% of remainder goes to share buyback

What is left will be split in thirds for:

1. payroll/legal/office expenses etc

2. Exploration

3. Cash on hand

B