Duck Testthorgb1, If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck. Following the delivery of the feasibility study upon which Freeport's interest in the project will increase to 75%, Lundin's ownership interest in the Timok project will be as follows:
- 75% of the Upper Zone (Reservoir 25%), and
- 21% of the Lower Zone (Freeport 54%, Reservoir 25%)
"Freeport, Reservoir and Lundin will be responsible for funding of the development of the Lower Zone on a pro rata basis (54%/25%/21% respectively) and each will be entitled to its pro rata share of economic benefits of the Lower Zone."
Nevsun "earns" and additional 21% of the Lower Zone by funding $20M of exporation in the LZ.
Freeport gave up some of that Lower Zone.