RE:RE:Sibanye Stillwater - Back in rightsOk, so here is the excerpt from the MD&A, it is actuall much better than I thought. GENM is effectively getting a carried interest worth approx 17% of the total capex of the project, subject to Sibanye earning in. Sibanye pays 31% of the total estimated Capex, then the remainder is shared on a pro-rated basis. Effect is a 17% carry on the project from Sibanye.
Upon a feasibility study being prepared and the management committee of the Marathon JV making a positive commercial production decision, so long as Sibanye-Stillwater has a minimum 20% interest in the Marathon Property, then Sibanye-Stillwater has 90 days to exercise an option to increase its participating interest in the joint venture to 51% by agreeing to fund 31% of the total capital cost estimated in the feasibility study, after which Sibanye-Stillwater and Generation will contribute the remaining funds on a 51/49 pro rata basis