Ann: Media Interview - Bawdwin Resource Grows, page-35

This presentation shows the structure of the current production sharing agreement.

https://hotcopper.com.au/posts/33493354/

It's pretty complex so you need time to go through it. The company has said that this is an old form of production sharing agreement that has been superseded for companies with similar but newer projects. The JV wants to renegotiate a modern PSA with the government. The financials in the presentation represent 'worst cast' for the PSA.

Slide 27 of the most resent presentation (Jan 2019) shows the structure of the JV. WMM’s carried interest in the project will be repaid from future dividends while EAP pays its share on pro rata basis as the project develops (see announcement 28 March 2018).