We get or share of the money for what we have been producing end May. We know that from the announcements.
However, when do we get to deduct past exploration spending from sales proceeds? We have agreed to fund development costs until mid-2019. We are still funding exploration costs up front as well as development costs according to the May 9 announcement, but when past exploration costs get refunded from current receipts is unclear to me from the announcements. Is it now, or only from when ODP is formally approved in mid-2019? I suspect they are delayed as well.
It will be interesting to see what happens with Sanjiaobei? Surely they will demand the same terms ie delay.
SEH Price at posting:
21.8¢ Sentiment: Hold Disclosure: Held
