These are old royalties which Gold Royalties purchased for $9 million from a third party in July 2012. Today they could buy about 10% of VIT for $9 million.
The Eagle Zone Gross Smelter Royalty
The Eagle Zone gross smelter royalty (the "Eagle Zone GSR"), known otherwise as the Mar Gold Zone, is a 2% gross smelter royalty on the Eagle Zone gold deposit being advanced by Victoria Gold Corp. The project is located approximately 85 km NE of Mayo, Yukon, Canada. The 2% gross smelter royalty, which comes with advance royalty payments, reverts to a 1% gross smelter royalty after payment of $1,000,000, of which approximately $420,000 has been received by the third-party vendor to-date.
There is no royalty buy-back provision afforded to the operator with the Eagle Zone GSR.
The Lynx Zone Net Smelter Royalty
The Lynx Zone net smelter royalty (the "Lynx Zone NSR"), known otherwise as the Len Property, is a 1.5% net smelter royalty, which comes with advance royalty payments, on claims being advanced by Victoria Gold Corp. The project is located NE of Mayo, Yukon, Canada.
The Lynx Zone NSR may be repurchased by the operator at a rate of $100,000 per 0.1%, either pro-rata or in whole, for a total of $1,500,000, less advance royalty payments made to-date to the royalty vendor.