Mick, You are still not getting the 15%.
The DFS completion results in 35% ownership by the consortium, I think we all agree there.
The 15% is where the consortium uses their significant GLOBAL power and their GLOBAL financial muscle combined with TECHNICAL KNOWLEDGE to provide the necessary credibility to this project.
The consortium must perform by providing FID financing for the project, for this performance of facilitating funding for the project, they get an additional 15% of the project ultimately being a maximum of 50%
Just imagine little old Ardea going to the market unassisted looking for 3Billion Dollars, It would be laughable in the context of financial muscle, technical know how and the possibility weighted for success.
We need the consortium mate.
The deal is simple, don't complicate this.
RED
Ann: ARL SMM and MC to form a JV to develop KNP Goongarrie Hub, page-84
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