Ann: Silex and Cameco sign new Term Sheet with GE-Hitachi, page-30

Transversal - I got some of the figures wrong on the rents I took last years figure and forgot to divide by 2 (for 6 months rather than a year).  I have now used the number on pg 8 of half yearly (which I should have done in the first place).  My difficulty is in reconciling the overall figure of A$3,772,148 on the cash flow report on pg 12 (Payments to suppliers and employees) with the expenses on pg 8 and put the difference down the Overheads and Board/KMP expenses which I presume would not be chargeable to GLE.  The numbers I am now getting (after correcting a few errors) are:
VALUE ACCOUNTS Holdings

2019 1st half Derivation Research and development materials (A$) $49,842 Pg8 ½ yr report “R&D Materials” SLX Employee benefits expense (A$) $1,864,968 Pg8 ½ yr report “Employee benefit expense” Board & KMP costs + Overheads $1,058,091 Pg 12  ½ yr report total (below) less all other expenses GLE Development reimbursement (A$) $16,836 Pg8 ½ yr report “Development expenditure” Consultants and professional fees $294,854 Pg8 ½ yr report “Consultants & Professional fees” Printing, postage, freight, stationery and communications $37,595 Pg8 ½ yr report “Printing, postage etc costs” Rent, utilities and property outgoings $209,582 Pg8 ½ yr report “rent etc” Other expenses from continuing activities $223,698 Pg8 ½ yr report “expenses” Total $3,772,148 Cash flow “Payment to Suppliers and employees” on pg 12 of ½ yr report  I have not considered SLX income at all - just expenses.  The overhead costs (now A$176,384/month) are simply the difference in the identified expenses on pg 8 and the "payment to suppliers and employees" on page 12 in the cash flow statement,  I am making the assumption that GLE will not be absorbing all SLX's costs and therefore what is not a legitimate expense to GLE will not receive a 49% contribution from Cameco.  It seems fair to me that legitimate GLE expenses are Materials, SLX employee benefits, Rent and maybe some of the KMP expenses.  To look at the prospects after signature I need to get a handle on what can legitimately be charged to GLE which would no doubt then get a 49% Cameco re-imbursement - would welcome your thoughts as I would like to get a handle on when SLX will need to sell down GLE equity to fund the FEED/FID efforts and also funding for completion of a test loop prototype in Wilmington which incorporates the current laser developments from Lucas Heights and scaling up of the separator and UF6 handling facilities in Wilmington (this was referred to in one of MG's previous presentations (I think about AGM Nov 2017).