That is an ezi question imho. The contingency payment was negotiated for circumstances like OZL selling a portion of the project to fund the capex (which at the time of FID it seemed they were likely to do), or indeed flogging the whole project off to someone for a profit.
It would have been worded to try to cover any form of such partial sale.
But OZL isn’t selling the asset, or even part of it, it is itself about to be absorbed. If (which they won’t do) BHP was to sell part of the asset the clause would be effective then.
I am no lawyer, or contract savvy person, so I could be completely wrong.
EL
CPN Price at posting:
61.0¢ Sentiment: Buy Disclosure: Held
