santa claus is comin-, page-9

Didn't Les say in that presentation that they had spent nearly $150 M to date on exploration/development?

My understanding of the Petromin deal is that they (as the nominee for the PNG Govt.) need to come up with the full exploration/development costs to date for their 30% of the company i.e. nearly $150 M.

They will need to exercise that option once the DFS is completed, the Mining Development Contract (MDC) is entered into and a Financial Investment Decision (FID) is made.

So MGO needs to complete the DFS, MDC and the FID before the get the money from the government of PNG.

Do I have that AOK?