COMMITMENTS AND CONTINGENCIES

6 Months Ended

Dec. 31, 2020

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

13.  COMMITMENTS AND CONTINGENCIES

Khoemacau Silver Stream Acquisition

Pursuant to our Khoemacau silver stream transaction closed in February 2019, we made the following advance payments under our conditional funding schedule:

● $65.8 million – November 5, 2019

● $22.0 million – February 2, 2020

● $47.9 million – April 3, 2020

● $11.1 million – July 5, 2020

● $32.5 million – October 5, 2020

● $32.6 million – January 6, 2021

Including the sixth advance payment made on January 6, 2021, we have made total contributions of $212 million which completes the advance payments for the Base Silver Stream. We are further committed to up to $53.0 million in additional contributions should Khoemacau Copper Mining (Pty.) Limited elect to fully exercise the Option Silver Stream. Any further payments under the Option Silver Stream are subject to certain conditions and are scheduled to be made using an agreed formula and certification process as project spending progresses. Refer to our Fiscal 2020 10-K for further details on the Khoemacau silver stream acquisition.

Ilovica Gold Stream Acquisition

As of December 31, 2020, our conditional funding schedule of $163.75 million, as part of the Ilovica gold stream acquisition in October 2014, remains subject to certain conditions.