No GXY are not the sole owners.
After fulfilling their obligation to expend $7m on the plant GMM now have a 14% equity.
Gmm has 50% of the profit.
The equity changes as they make the $6 m payments each year, or earlier if they choose.
I was really addressing your statement of "Have you ever thought how they are going to come up with the money to fund Cattlin???"
I believe they can and will.
This is not a pissing contest, I don't hold GMM, it is about facts.
And yes GXY is in a better position than GMM, as it has the lions share, at the moment, of the assets.
GXY will also be paying down its debt as the $6m payments are passed on to note holders.
Basically in 3 years (in current configuration) zero/near zero debt and the same income stream as GMM and a 50% stake in MT Cattlin.
GXY Price at posting:
14.0¢ Sentiment: None Disclosure: Held
