Apollo,
Another tenement is LSI tenement, LSI(Laos gov company) holds 49%, and SARCO hold's 51%, and ORD holds SARCO's 49%.
So ORD is JV'JV. =24.99% interest.
35% * 49% = 17.15%
Total on average: 21% interest for the 2 tenement.
180m--200m IPO of course means significant dilution.