EVN evolution mining limited

Ann: Macquarie Conference Presentation, page-9

  1. 485 Posts.
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    Yeah it's re the Mt Rawdon Pumped Hydro (MRPH), nothing to do with Northparkes...
    On 8th of April EVN and the affiliate of ICA Partners of the 50:50 MRPH JV announced that they had signed a deal with the Government-owned CleanCo Queensland Limited, to help progress the Project towards a final investment decision and beyond.

    The short of it is:
    - CleanCo has agreed to provide initial funding of $30 million to the MRPH for further feasibility works to be completed by end of September

    - CleanCo has an option to acquire MRPH from Evolution and ICA partners for an upfront payment of $50 million (to be shared equally by Evolution and ICA Partners), exercisable on or before 30th Sept 2025

    - IF, CleanCo pull the trigger on the call option AND make a FID on the project before 30 June 2028 then a further $100 million as further deferred consideration for the acquisition of MRPH is payable (again to be shared equally by Evolution and ICA Partners)

    - IF, all of that happens, then Evolution has agreed to sell the land to CleanCo for $90 million (100% retained by Evolution)

    Not sure where the $300M figure in the post above comes from? the way i read it there is $30M being spent by CleanCo to fund the feasibility and there is potentially $165M payable to EVN if it all progresses
    There are some other bits and bobs in there about environmental indemnities and EVN retaining the option to process any further ore if pit modifications are needed etc.
 
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