Cal,
"If we repatriated the moneys and reinvest then we get 70% back."
That's not what I understand the SML arrangement to be. Lucapa repatriates the loan made to the Lulo JV from any free cash based on the following:
40% of free cash (representing our alluvial dividend) + 30% of free cash (50% of the remaining 60%) = 70% of free cash until the loan is repaid.
What we do with our repatriated funds is entirely up to us. Once the loan has been repaid to Lucapa, the dividend from future profits is paid according to the original gazette:
Lucapa 40%
ENDIAMA 32%
Rosas e Petalas 28%
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