Excelsior Mining Corp (EXMGF)

[drobx]

The $13M was using the same assumptions that the early poster had used. As you note, there are actually many scenarios, so it is hard to really nail down. I thought about this a lot of different ways and was getting fairly confused, but eventually I came to some clarity. Basically, the company is receiving $65M now, and the other party is receiving $260M worth of copper over the span of many years. So the 19% number is what it would work out to if it were $13M/year for 20 years. The question is asked did I factor in that "any % of copper output provided to Triple Flag is bought by Triple Flag at 25% of copper spot price." I think the suggestion here is that the company will receive that 25% in cash. That is not how I read the agreement. To me it looks like the IOU will be diminished by that 25% and that no further cash is being given. Anyone else care to weigh in on that?