10%

Looks like thats how much epangelo seems to want if this deal is anything to go by:

http://www.digitaljournal.com/pr/432059

Namibia Rare Earths and Epangelo Mining Sign Agreement for Exploration and Development of Nuclear Fuels on Lofdal

Canada NewsWire

HALIFAX, Sept. 26, 2011

HALIFAX, Sept. 26, 2011 /CNW/ - Namibia Rare Earths Inc. ("Namibia Rare Earths" or the "Company") (TSX: NRE) and Epangelo Mining Company (Pty) Limited ("Epangelo") are pleased to announce that they have entered into a memorandum of understanding ("MOU") which provides the framework for Namibia Rare Earths to investigate uranium occurrences discovered on its Lofdal rare earth project in Namibia.

The Government of Namibia, through the Minister of Mines and Energy, recently announced an initiative to develop a mining regime which will allow the country of Namibia to more fully benefit from the mineral resources located within Namibia, and to utilize Epangelo as the private corporate vehicle to implement this new strategy. The MOU represents the first agreement to be negotiated between Epangelo and a private sector mineral development company under the new strategy.

The MOU provides that, upon removal of the current nuclear fuel moratorium, Epangelo will assist the Company in obtaining an Exclusive Prospecting License to permit the Company to explore any discoveries related to nuclear fuels which the Company has identified on its Lofdal rare earth project (Exclusive Prospecting License 3400). Epangelo and the Company have agreed that, in the event an economically recoverable nuclear fuels resource is identified on Lofdal, the Company and Epangelo will work cooperatively to obtain a nuclear fuels Mining License which will be held by a newly formed mining company to be owned 90% by Namibia Rare Earths and 10% by Epangelo. Epangelo will not be required to contribute to any costs associated with the exploration or development of a nuclear fuels deposit on Lofdal. Epangelo will however have the option, exercisable on commencement of commercial production, to acquire an additional 10% interest in the mining company by paying to Namibia Rare Earths an amount equal to 10% of all costs associated with exploration and development of the nuclear fuels deposit. Such amount will be funded from dividends which Epangelo would otherwise be entitled to receive by virtue of its 20% interest in the mining company. All costs after commencement of commercial production will be funded by the parties based on their percentage ownership of the mining company.

Read more: http://www.digitaljournal.com/pr/432059#ixzz1Z4JAO7NY