What we own

The Group retained a royalty on the Groundhog anthracite project located in north-west British Columbia, Canada, following its disposal of the related mining licenses in 2014 to the project’s operator, ASX-listed, Atrum Coal NL (‘Atrum’). The royalty entitles the Group to the higher of 1% of gross revenue on a mine gate basis or US$1.00/t from coal sales derived from Panorama licences.

Performance

Atrum’s focus for 2018 was on the Elan project, and so there was limited progress in relation to the Panorama licences. It is hoping to publish the results of their most recent drilling program in H1 2019.