The offtakers are paying the JV.
SMM and Mitsubishi between them have the right to offtake 75% and they will own 50% of the JV upon the completion of the deal (assuming that they complete whatever is required to earn the extra 15% …. secure finance for ARL is what is being suggested by some posters)
A great deal for Ardea in my opinion.
J
Ann: ARL SMM and MC to form a JV to develop KNP Goongarrie Hub, page-110
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