Value Post Domain Deal, page-60

Hi SJ,

Hard to say. I'd speculate that if new cash is received from Domain it would be used to establish BBM PCI production, rather than fast track a pay back to Platinum (I think the Platinum production royalty is capped at $40m).

Perhaps the payback could be accelerated in line with repayments to CKA from BBM co-owners (

~$22m)​

. That could, in theory, sort about half of the Platinum entitlement. The remaining Platinum amount, if paid normally, could see the remaining $18m paid out within the life of BBM PCI.

My reservation is that there is still a list of CKA jobs to be done that are currently unfunded. I'm unsure how management will prioritise the use of limited funds. If things are finely balanced then I suspect Platinum would be paid out over many years under the normal terms of the agreement. At the same time CKA keeps taking steps to warm up BBM HCC and have a poke around at TBAR.

No one except DM can know for sure how funds might be used.