RT186, page-4

aSD
Found this in my travels. Pelican Resources Annual Report.

WESTERN AUSTRALIA COCKATOO IRON NL Pelican holds 5,000,000 fully paid ordinary shares in Cockatoo Iron NL (“Cockatoo Iron”) as a consequence of the sale of its interests in the Cockatoo Island Project. Pelican and Cockatoo Iron have further executed a Revenue Sharing Agreement (“RSA”), whereby Pelican will be entitled to receive up to a maximum of $500,000 per annum of gross revenue received by Cockatoo Iron and Pearl Gull from certain non-mining activities that may be conducted by third parties within mining lease 04/235-I and miscellaneous licence applications 04/102 and 04/103. Cockatoo Iron have the right of preemption in respect of a sale by Pelican of its rights under the RSA. On 19 February 2020, the Company entered into an agreement with Carbine Resources Limited (“Carbine”) to sell its’ shareholding of 5,000,000 shares in Cockatoo Iron NL to Carbine, subject to certain conditions precedent. Consideration for the sale is 6,666,667 fully paid ordinary shares in Carbine. The conditions precedent to the sale remaining outstanding
Cheers
Pickle