Ann: CLA enters Binding Deed with local companies for MCB Project, page-7

I will give this a crack, feel free to correct me if i am wrong.

MCB mine is owned by CLA subsidiary company 1 Makilala Mining Company, Inc MMCI. To gain a mining licence 60% needs to be owned by Filipino under Government rule. Sodor is buying that 60% of MMCI for A$8.2m.

However this sale will only go ahead after CLA subsidiary companies (MHL MMCI and PDEP) get US$43m from PMR (Sondor's affiliate company) for the 30% overall interest of MCB project.

So effectively Sondor and PMR has committed to give CLA US$43m in total after the MCB BFS (due end of the year) then pay another $8.2m for 60% of MMCI.