Following on from @BaliHai post about Lomon Billions:Have you...

Following on from @BaliHai post about Lomon Billions:

Have you noticed the structure of the Capital Markets deal with SFX? The first investment SFX is making is in the issued capital of Capital Markets, a bit like YS did with SFX.So that would mean, even if LB completed the MOU deal to acquire 50% of the project in exchange for funding the development cost of $81mil (announced in early 2023), SFX could still benefit by owning 10-14% of Capital Markets.

Looks like the first part of the deal with SFX is a deal to ensure Capital Markets have enough short term cash to remain solvent.The subsequent part of the deal with SFX is to enter an agreement to acquire 50% of the project, probably on similar terms to those of the LB MoU.

Looks like LB's exclusivity period expired in July 23, however it appears that SFX don't have exclusivity on the 50% acquisition of the project part, it looks like that part comes down to whichever company (LB or SFX) is willing or able to commit first on that side of things (ie, 50% acquisition of the project).