Dr. Eibhlin Doyle:

At the moment royalties are negotiated on a case-by-case basis for each particular mining licence or lease issued. The calculation for our base metal deposits is normally based on net smelter return. This is the standard we have adopted and going forward we would probably continue with a net smelter return calculation. However we are now in a position to clearly set out and state what royalty levels we will have. Rather than carrying out negotiations separately with each company, now the companies go into exploration and development knowing the level of royalties to which they will be subjected to. Does this answer the Deputy's question?