September is indeed the time when Coeur becomes unshackled from its obligation to pay royalties to Franco on the minimum of 12,500 ounces per quarter. The minimum goes away.
Edmund, I may be mistaken, but it has been my understanding that Coeur will sell its future gold production in the open market, then remit to Franco any excess over $800 per ounce, rather than being paid $800 per ounce by Franco. I realize the net to Coeur is the same (that it gets to keep $800 per ounce produced). Pls correct me if I'm off base.