the lease, we paid the State of Texas a lease bonus of $20,700 which
was paid upon the execution of the lease. Upon the sale of
minerals removed from Round Top, we will pay the State of Texas a
$50,000 minimum advance royalty. Thereafter, we will pay the
State of Texas a production royalty equal to eight percent (8%) of the
market value of uranium and other fissionable materials removed and sold
from Round Top and six and one quarter percent (6 ¼%) of the market
value of all other minerals sold from Round Top.