I'm flattered. Its possible I could be wrong on all of those...

I'm flattered. Its possible I could be wrong on all of those points. How DM actually allocates CKA funding is not something we will solve on this forum ahead of time.

If BBM co-owners need to repay ~$40m (I've had $22m in my mind) then that puts an "extra" $20m in the tin, but received over time. Receiving more money is clearly better, but timing means atm I can't see how those funds would contribute to the BBM ramp up.

CKA investor presentations over the past 2-3yrs put ~$67m estimate on capex required to get things moving. Rightly or wrongly I link those old capex estimates with the proposed ~

AUD$67​

(

US$50m​

) from Domain. Even though the CKA balance sheet look terrible, I think the Domain funds have a specific capex purpose at BBM, rather than servicing the Platinum debt.

If CKA does elect to payout Platinum up front (rather than go down the production royalty route) then its $25m less paid out ($40m over time vs $15m upfront). Sure a smaller payout upfront is possible however it removes $15m from funds available to ramp up BBM. Clearly less money paid out is better however those funds required upfront for capex are usually guarded ferociously.​

Its a trade off. Something that can be clarified with DM at an EGM. Lets see how it unfolds.​