Ann: Term Sheet Signed for Development of BBM Coking Coal Project, page-184

@benwex2

As @Cattery pointed out, the original terms of the deal are

“...all subsequent financing is to be jointly provided by JDC and/or its appointees, and by HGO (Dr. Henry Gianto, M.Sc.) and/or its appointees in the same proportions as their equity interest in BBP and BBM respectively. If for any reason HGO is unable or unwilling to provide his proportionate share, JDC is entitled to be repaid that amount together with at the rate of SIBOR plus 3% per annum from the entitlement of HGO to any didvidends that BBM may declare."

It would have been fairly easy up till now to work out how much is owed etc when CKA have just been footing the bill, with sunk costs to be repaid out of BBM proceeds

My question is, how does CKA account for the sale of 50% of their stake to raise the US$30M ?

This should be shared 60:40, so do they simply add $12M more to HGO’s running balance ?