Module 4, Structuring the Business
A Partner Hand-off
Structure a Joint Venture with Moeletsi Africa
Most ground in this region is brought to a venture by one party and funded by another, and most of those ventures fail on the terms rather than on the geology.
The Hand-off
Three Things, Specifically
The course teaches you what to ask for. This is what competent work on it looks like when it comes back.
| What You Should Walk Out With | |
|---|---|
| 1 | A contribution schedule that values ground, cash and equipment on one scale, agreed before anybody spends. |
| 2 | Dilution and default provisions, so that a partner who stops funding is dealt with by the agreement rather than by a dispute. |
| 3 | A distribution waterfall that says who is paid out of cash, in what order, and when. |
Why It Is Handed Over at All
NDARAMA teaches the commercial side of mining. It does not file your returns, incorporate your company or sign off your accounts, and a school that pretended otherwise would be doing you harm. What it does is make sure that when you walk into Moeletsi Africa you already know what you are asking for, what it should cost and what a bad answer looks like.
That is the whole point of the hand-off. A client who understands the work is the client who gets it done properly.