Blue- Are you sure about this?

"He [PQ] stated, in no uncertain terms, that Goldland would receive a 15% royalty for all ore mined through the Sinker Tunnel."

GHDC has no direct claims on anything mined in the Sinker, which SFMI owns subject to the 15% PQ/New Vision royalty. GHDC only has an interest in the claims they are leasing to SFMI. PQ/NV get 15% of anything mined in the Sinker, or transported through it. So for anything mined in the Sinker, PQ/NV get 15%, and GHDC gets nothing. But if they connect the Sinker to the other shafts on claims leased from GHDC, then anything removed from GHDC's claims and transported through the Sinker is subject to both the 15% GHDC and 15% PQ/NV royalties.

Remember also that SFMI now has over 1000 acres of their own claims. So SFMI can bypass GHDC completely either by mining from the Sinker or mining on their own claims. In fact, all things being equal, it would be irresponsible for SFMI to mine from the GHDC claims. GHDC will still get their $1M+ each year, and they may develop other opportunities. But no matter what, PQ gets his cut, either through GHDC or through his royalties from the Sinker (assuming anything mined from SFMI's claims on the top of the mountain are moved through the Sinker).