I need some help. I am trying to find info. on the ownership...

I need some help. I am trying to find info. on the ownership structure but I am not having any luck.

Clive Jones and Nathan McMahon own 20% of Bannerman Namibia.

What is the agreement in place between BMN and these two as far as developing the project?

It is obvious that they are being free carried - that is, no matter how many shares BMN issues, they will always own 20% on Bannerman Namibia. But what happens when it comes time to put up the money to build the mine? Would they be responsible for coming up with 20% ($128M) of the capex?

If so, that is great! That means capex would be more like $500M and should be taken into account when trying to come up with valuations. If those two can come up with the cash - great. If not, would it not seem reasonable that they would look to sell their stake? With the purchasing entity becoming our strategic partner. It is likely this partner would be able to help us further in funding the project, enter into an offtake agreement, or at the very least - help us in debt financing by using their balance sheet as loan collateral for any lender.

As I said, I cant find any info on the agreement. Any help on this front would be greatly appreciated!