I read it as it's a 50/50 split of proceeds less what MRQ needs to tip in to get the JV to 50% i.e. USD 2.5m. So if they happened to get USD30m, I'd presume MRQ's share is a half of 27.5m?
That appears to be sound logic?
MRQ Price at posting:
0.6¢ Sentiment: None Disclosure: Held