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Commitments And Contingencies
 12 Months Ended
Dec. 31, 2020
Commitments And Contingencies  
Commitments And Contingencies

7. Commitments and Contingencies

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Our exploration and development activities are subject to various laws and regulations governing the protection of the environment. These laws and regulations are continually changing and are generally becoming more restrictive. As such, future expenditures that may be required for compliance with these laws and regulations cannot be predicted. We conduct our operations in an effort to minimize effects on the environment and believe our operations are in compliance with applicable laws and regulations in all material respects.

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In November 2020, we modified our agreement with the Jawoyn Association Aboriginal Corporation (the “Jawoyn Association”) with respect to the Mt Todd Project. The modified agreement provides the Jawoyn Association with a gross proceeds royalty (“GPR”) ranging between 0.125% and 2.0%, depending on prevailing gold prices and foreign exchange rates, instead of its previous right to become a 10% participating joint venture partner in Mt Todd. The modified agreement did not affect the previously agreed 1.0% GPR. The combined GPR range is now from 1.125% to 3.0%.