In response to your decisive "No" post I have attached an excerpt from OBM's AGM presentation of 28 November 2023 -
Lithium Focused JV.
Strengthens balance sheet with proceeds of $30m.
Binding JV & farm-in agreement executed with Brenahan Exploration Pty Ltd (since renamed Davyston Exploration Pty Ltd) (“DEPL”) (a wholly-owned
company in the Wesfarmers Chemicals, Energy & Fertilisers (“WesCEF”).
• Ora Banda sells 65% of its mineral rights (excluding gold and by-products) for $26M cash consideration and a 2% royalty in respect of DEPL’s share of any other minerals production.
• DEPL has the ability to sole fund $15M of exploration over 3 years to increase its stake in the JV to 80% - both parties to benefit from shared data and early-stage exploration work.
• Ora Banda is free carried from any discovery to the completion of a Definitive Feasibility Study.
To increase the total consideration to $30M, Ora Banda has agreed to effectively on sell 1.5% of the 2% royalty to be received from DEPL (for nongold minerals produced under the transaction with DEPL) to Hawke’s Point Holdings for $4M (subject to shareholder approval, sought at EGM on 22 Dec).
From my reading of that presentation OBM will be affected to some degree if the "nongold minerals" fail to commercially materialise.
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