The JV will hold 100% (CEO: 90%, Trinity Mongolia: 10%). Trinity can exercise an option for up to a further 15% from CEO and if they do so must pay CEO back-costs for the pro rata share, beyond the initial 10%. Trinity have 2 months to advise their intentions after formation of the JV. The JV is formed when the parties commit to acquiring any or all of the 4 Ovorhangay licences and the 4 Sth Gobi ones (or maybe when they financially settle on same, opinions on HC seem to vary on this detail).
There is a 1% royalty on coal production that goes to project vendor.
That's my interpretation but it's all in the announcements.
CEO Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
