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Re: Tamaman post# 5954

Monday, 04/29/2013 2:11:47 PM

Monday, April 29, 2013 2:11:47 PM

Post# of 14330
>>The debtors will be paid 90 million over 9 years, plus 15 million cash. Am I correct?

It's a NPI that will cease at the earlier to occur of a) 90 million paid out or b) 9 years. The 90 and 9 are ceilings, not floors - there is no floor.

http://www.franco-nevada.com/royalties/terms-explained

^^Simple yet decent breakdown on differences between NSR and NPI as well as Streams - And NPI is what you get when you can't get anything else. It's a contingent royalty as it's based on the bottom line, not the top line. It will go to CS via the plan of liquidation - that's just the simple math of the absolute priority rule.
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