My thinking...

A lower iron ore price could potentially reduce BHP revenues from the MAC royalty… so... in order for BHP to try and maintain total revenue I expect renewed focus on increasing volumes. The results presentation, in August, says to expect growth to 2.4x volume - ‘in the future’ (this was before the latest drop in iron ore price). With higher volumes PLUS capacity payments I expect the iron or price to have less impact on DRR. I would expect production to be increased at a faster pace - where possible.

Given a probable lack of royalty based acquisition opportunities (until later - when all turns to mush), DRR intends to pay the royalty (less their party time fees) to shareholders as an increasing dividend. The dividend is already large - comparatively.

Change of director's interest:

Jennifer Seabrook purchased $100k ish of DRR shares Mid-September. She doubled her direct holding (direct holding is now about ½ of her total holding).

Hold IRL
 

Royalty receipts for June 2021 quarter $54.9m. Not bad for doing nothing. That is 1.232% of FOB revenue $52.8m + $2m capacity payout +100k from 2 other small royalties. That's up over 50% from the previous quarter - all for doing next to nothing ;-).

Let’s hope they spend our money wisely. Their intention is to increase dividends to shareholders. This is good as I am more than willing to spend money on good wine.