Ann: Mining Indaba 2019 Presentation, page-15

And that's where the negotiations should take place; it won't be easily done because the shareholdings are in place at SML, so a change of ownership is going to mean compensation to those whose interests diminish, if it ever happens. It's not critical because LOM gets 70% of free cash anyway, until the loans to the alluvial operations are extinguished. Where it is critical, and ESSENTIAL to sort out, and the sooner the better, IMO, is over at the kimberlite hunt, which (I think!) is structured more like a J.V. or partnership. That needs to be carefully renegotiated and logic tells me it should be done before any major find, when any talks about holdings will become problematic to say the least.
For LOM to achieve full recognition by the market this issue will have to be resolved satisfactorily.
B22.