Jan. 10 at 1:55 PM
$RITE
The Skull Valley lease is basically done.
All the difficult tasks are complete. What’s left is basic admin stuff for
clerks, lawyers, signatures, final documents. I anticipate more news by end of month.
The Arizona State Land Department shows every real review step is done:
•Section processing done
•Department review done
•Appraisal done
•Commissioner approval done
•Insurance is locked in
•The cleanup bond is posted
•The annual payment was accepted
•The mine plan changes were approved
The portal already shows lease and MAG invoices. MAG simply means Minimum Annual Guarantee.
It’s the minimum rent the company must pay the state every year no matter what.
Even if nothing is mined, the project is slow, or gold prices drop, the state still gets paid. States do not invoice deals they plan to kill.
https://mineral-rite.com/investor-relations/