Total Cost to CLZ will be 30% plus operational costs all paid by CLZ, and they are not even using the Gekko which cost $6.5M and will still have a debt of over $13M after this agreement.
CLZ will be lucky to break even as they will only share 70% on profit after ALL costs!
Still need due diligence, approvals and agreement & can be terminated withing 120 days.
A LONG way to go yet if it happens!
Ann: Classic secures $10 million to take Kat Gap to production, page-11
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