Ann: Funding Round for Green Pig Iron Project in Saudi Arabia, page-68

yeah thats right

on EOD reflection, its abit shit that VCCL and 2x1 get 10% each of midmetal, they will each own only 5% less than the original saudi investors so i wouldnt want to be those guys, going from 100% owned to 15% but 15% of something is better than 100% of nothing.. we drop our ownership down to 15% from 50% but we do absolutely nothing and receive revenue from the facility which is a good deal.. In fairness the fund finders will hopefully be doing the entirety of the legwork in sourcing all 210m USD which is a big task, Midmetal will build and operate the HIsmelt facility so Magnum sit back with 15% ownership of it, presumably taking 15% of the profits which will be in the ballpark of like 70m per year on the 1.1Mt, MGU main source of income will be selling the ore from BV to midmetal, as for biochar i have no idea, capex was estimated to only be 80m USD so at a higher SP we can raise that easily or maybe its 50/50 with midmetal