Explaine the 30 to 40 % comment....

that I am not aware of or believe for that matter....

you saying: that on a $1,200 gold price per ounce.... we are paying Ven a royalty of $400 +

and lets say productions costs of $300 and then the rest is dvided.... so we get one third of 400 per ounce which is lets say $100 of say 21 million ounces...

so that would be $2.1 billion divided by 500,000,000 which is about $4. less political risk...

I am not good at this.... can someone confirm if this is the formula..... I THINK NOT!!!!

phil