Ann: Entitlement Issue Under Subscription and Placement, page-23

Niraj1980, BPL is contesting the dilution. You may or may not know the history, but COB began as a spin-off from BPL (about 2 or so years ago). The plan, according to the JV Earn-in Agreement, was for COB to earn (in stages from 51% to 100%) by carrying out & paying for the exploration. Once a decision was made about mining, the JV Earn-in Agreement would need to be replaced by a mining agreement. However, things have not gone to plan. So the independent expert will make a binding decision about the way forward. (Also, BPL has a 2% net smelter royalty which I don't think it is being contested, but who knows). Amigo, the JV Agreement is about 50 pages and your interpretation, as a newbie to the process, would be of interest to me and possibly others on this site.