I think the plant is supposed to make about $15M per year so the royalty will effectively be on that. We will find out the % after it goes into production but it might take all year for the expansion.
Barrick is the world's largest gold producer at 5.5M oz per year, with a $24B market cap. JBL might produce even more since they want to own the space, so lots of room for the gross royalty to be $1B.
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