HI Carpo25 IMC SC54 shallow jv option is to pay KIK 1/2 of its past costs for half of KIKs tenure. They would both therefore end up with 20%. This option expires by 31st March 2009.
IMC also have an option over the outboard sc54 after 1st Jan 2009. (This date here alone would suggest the KIK/NDO jv will be signed before then) the terms have yet to be agreed on but the option expires by 30th March 2009.
So.. KIK would have to be payed well over 20 mill by IMC if they want in. Outboard is anyones guess atm. this will be highly dependent on what a major offers NDO/KIK.
KIK Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held
