Xanadu gets US$35m plus about $11m for the placements.
Retains ownership of 38.25% of Kharmagtai.
Once the JV is set up Xanadu will presumably be liable for 38.25% of the expenditure, so some of the above cash will be needed to finance the DFS.
Much more will be needed for Xanadu's share of initial development costs of US690m. I didn't see anywhere that Xanadu was to be free-carried.
Xanadu gets US$35m plus about $11m for the placements.Retains...
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