So the key words in the following Note 27 to the FY23 financial statements that partially clarifies the arrangement is that Kingsgate & Zurich as partners entered into a 'compromise of the TAFTA Arbitration' by agreeing with the Thai Govt for Kingsgate to take back and operate the Chatree mine.
There are potentially two options on when Kingsgate, in my opinion, would be liable to start sharing positive operating cashflow income from the mine with Zurich, either
1. From the first quarter of positive cashflow income from the mine, or
2. From the first quarter of positive cashflow income from the mine after recouping all previous negative quarters of cashflow income since the resumption of activities at the mine.
If it is calculated as 1) then you would expect it to be the upcoming June24 quarter that will trigger the sharing arrangement of income.
If it is calculated as 2) then you would not expect this arrangement to kick in before next year.
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