Royalties
Read the royalty statement before the ounce
Exclusive BX Reserve reporting on a gold net smelter royalty: the figure, the condition, and the order sentence.
Extraction
Royalties, offtake, and the line under a mining ounce.
Offtake
A lithium offtake is a contract, not a headline grade
Exclusive BX Reserve reporting on a spodumene offtake: the figure, the condition, and the order sentence.
Penalties
Copper concentrate penalties sit under the headline payable
Exclusive BX Reserve reporting on a copper concentrate: the figure, the condition, and the order sentence.
Streams
A gold stream is not a quieter equity ticket
Exclusive BX Reserve reporting on a precious-metals stream: the figure, the condition, and the order sentence.
Closure
The closure bond is a cost while the pit is still open
Exclusive BX Reserve reporting on a mine-closure bond: the figure, the condition, and the order sentence.
Prepayment
An offtake prepayment is debt with a metal mask
Exclusive BX Reserve reporting on a metal prepayment: the figure, the condition, and the order sentence.
Resources
Grade control is the resource the mill actually sees
Exclusive BX Reserve reporting on a measured resource: the figure, the condition, and the order sentence.
Buybacks
A streaming buyback is only real if it is funded
Exclusive BX Reserve reporting on a stream buyback option: the figure, the condition, and the order sentence.
Permits
A permit date is a model input, not a press-release month
Exclusive BX Reserve reporting on a federal mine permit: the figure, the condition, and the order sentence.
Freight
Concentrate freight belongs inside the NSR, not under it
Exclusive BX Reserve reporting on a concentrate freight deduction: the figure, the condition, and the order sentence.