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      "text": "Up to US$100m of retained equity in the business by Glencore via PIPE subscription",
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      "text": "US$1,100 million purchase price plus a 1.5% copper net smelter royalty (\"NSR\")",
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      "text": "Contingent: US$75 million payable if for any rolling 24-month period (commencing at closing) the average daily LME closing copper price is >US$4.50/lb (\"Second Contingent Copper Payment\")(1)",
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      "text": "Transaction subject to the approval of MAC's shareholders and other customary closing conditions",
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      "text": "Glencore shall have the right to appoint one director to the MAC Board of Directors for every 10% of MAC voting shares that it beneficially owns",
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      "text": "US$775m cash upon close",
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      "text": "Definitive sale and purchase agreement entered into with Glencore plc (\"Glencore\") for the acquisition of the CSA Copper Mine (\"CSA\")",
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      "text": "Notes: (1) Payable as soon as milestone has been achieved. However, if one or both of the milestones are met in the first three years post-closing, the payment will only be made to the extent it does not constitute a breach of the company's finance facilities in place at close (MAC will be subject to an obligation to use best endeavours to obtain the consent of all financiers for the payment to be made during the three-year window); (2) Based on the purchase price excluding the contingent payment and the 1.5% NSR (US$950m); (3) Based on MAC management estimates, using market offtake terms, consensus commodity prices at March 31, 2023 and assuming full year ownership. EBITDA is a non-GAAP measure, see disclaimer \"Non-GAAP Financial Measures\".",
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