Ann: WWI Secures Finance Facility via Equity Placement Agreement, page-96

hopefully this will clarify our bee partnership for many that may not have fully understood the structure before. It’s from the recent initiation danny posted with a target of 5.3-7.7 (risked-unrisked) on $1800 pog & mid 7s to 14c on 2000pog (which obv shows doubling of npv from scopping study). How much of the p180-200 is achieved & at what pace will obv be dictated by pog given the sensitivity

”Under the current structure (Figure 5), the WBP is effectively owned 33.4% by Lilitha, which exceeds the mandated BEE ownership requirements. The Company has stated that the BEE partner has proven to be strong and supportive, and has been instrumental in the permitting processes. Rather than being free carried, Lilitha’s direct interest is loan carried to commencement of production - under this agreement Lilitha will need to repay their share of pre-production costs through foregoing a proportion of their share of dividends from when the Project reaches profitability - full dividends also won’t be payable until all project debt is paid off.”