I think MMG will be pushing for them to declare Commercial Production from 1Jan20 as the Dec qtr will demonstrate that they are EBITDA positive and MMG will be wanting to receive their 40% EBITDA payments to cover the rehabilitation liability.
I have therefore now adjusted the Jun20 quarterly cashflow schedule to show MMG being paid $10mil for the EBITDA surplus for the March quarter.
Ann: CENTURY OPERATIONS AGAIN DELIVER RECORD METAL PRODUCTION, page-128
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