The Group has a 1% life of mine NSR royalty on the Four Mile uranium mine in South Australia. Four Mile is operated by Quasar Resources Pty Ltd (‘Quasar’).
Total royalty income was £0.3m with maiden royalty receipts of £0.1m from Four Mile in February 2016, following the commencement of sales by Quasar.
The Four Mile royalty is classified as a royalty intangible asset on the balance sheet. As such, this asset is carried at cost less amortisation and impairments.