10.0c, page-130

Is the first payment $7 million? How have you calculated $15 million? What about the $10 million in offtake GMM factored into their calculations?

"Amended Transaction Structure from June 2015

1. GMM will initially acquire a 50% deemed operating profit interest in the Project, by spending AUD $7m on the Project prior to commencement of production (on or before 31 March 2016). GMM’s equity interest will commence at 14% upon making that expenditure and thereafter increase in accordance with Clause 2 below;

2. Balance of consideration to be paid in 3x $6m instalments, due annually from the commencement of production. GMM’s equity interest will increase by 12% upon payment of each instalment;"

Gxy are so fantastic they were going to sell 100% of project. Saved by Elon Musk by a whisker.