Can anyone clarify the clauses in the Lady Ida announcement from 6th December 2023? They seem to contradict each other.
The first circled part says that the Company will acquire a further 25% (50% total) after they've produce 36,250oz, meaning that they would've received 25% of profits for the first 36,250oz. But then the bottom couple dot points say that BCN get 50% of proceeds from sales until 72,500oz have been recovered. Which is right?
The second last dot point also seems to agree with the last dot point where it says they share costs 50:50 after the first milestone (first gold is produced) and those costs come out of their 50% share of gold.
Am I reading this wrong or does the announcement contradict itself?
Ann: Letter to Shareholders, page-88
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