Ann: Quarterly Cashflow Report, page-43

Clacoste you are just ignoring the actual facts on how Lucapa will be recovering its initial investment.
And ghawk I have no idea why you are interpreting the facts differently also.

From the 26/11/2014(35 year mining licence signing announcement)
Agreements enable Lucapa to recover 100% of its alluvial exploration and development expenditure(past and future)from free cash flow.

The word Lucapa was used,not Joint venture.

Getting a tax break until a mining operation is at the stage of profit sharing has nothing to do with Lucapa receiving 100% of its initial and future expenditure back.
Anyone with any common sense can see that it is as clear as day,and I would feel like a fool if I was to ring the company to get clarification on the matter.
Hotcopper never fails to amaze me on how some people can interpret things completely different.