Pardon my ignorance as a relative newcomer to LOM, but could someone please explain exactly how the arrangement with SML works? I understand LOM are 40% owners and operators, but there is talk of waiting for a 'distribution' from SML. I also recall something along the lines of LOM having invested some capital earlier and are getting a bigger chunk of the revenue until that was paid back.
And what proportion of capital (e.g. XRT), operating and exploration costs are we paying for - and do we pay these regularly or does SML issue a cash call as required? I would expect that revenue would be far exceeding costs at the moment though.
LOM Price at posting:
40.0¢ Sentiment: Hold Disclosure: Held
