"In any event, BPL’s retained percentage share in the TJV during the Earning Period will be free carried, such that BPL will not be obligated to contribute to the costs associated with any of the Earning Obligations under any applicable approved program or budget."
That's what BPL appears to say...
"COB’s appointment as Manager of the Thackaringa Cobalt Project under the TJV has now ceased."
Technically correct. But who will 70% of the votes re-appoint as manager at the next JV meeting?
"COB continues to be solely responsible for the risk and cost of work currently underway at Thackaringa that has not been approved by the TJV Management Committee."
Again technically correct. But the newly appointed TJV management will soon approve the work "currently underway" and then the 70/30 split will take effect, as happens in a joint venture.
"In any event, BPL’s retained percentage share in the TJV during...
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