March 29 (Reuters) - Focus Minerals Ltd FML.AX
* revision to Lancefield royalty
* focus and South32 agree to revised royalty
* renegotiated a royalty over its lancefield gold project with South32 Royalty Investments Pty Ltd
* Following renegotiation, focus is in process of planning a substantial exploration program on project
* can reduce its royalty obligation to 2% of revenue of ore mined from tenements by spending $6 million
* to encourage exploration activity and increase possibility of payment under royalty, a revised royalty has been renegotiated Source text for Eikon: ID:nASX6lpfsP Further company coverage: FML.AX