"will probably be offered a sum of 10 to 12 cents and I for one, feel we are surely worth a substantially larger amount than that."

especially when you consider that at todays price of ferrochrome in the range of $0.82 per pound and Cliffs estimate of 400-800,000 ton annual production. That equates to approx. $700,000,000 to $1.4 billion annually. KWG's 1% NSR would be equal to $7 - $14 million annually. I don't know if there are any cost deductions applied to this royalty, but you get a good idea of the future income it will generate once production begins.

SRV