b"STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2019 (Continued)4.4 CAPITAL INVESTMENT IN JOINT VENTUREOn14November2014,Staatsolieenteredasa expenditures. Each partner is responsible for limitedpartnerwithaninterestof25%intothe funding the partnership for its portion based on its partnershipSurinameGoldProjectC.VNewmont participating interest. SurinameLLC,asubsidiaryofNewmontMiningCorporation,isthemanagingpartnerwitha75% Monthlythepartnershipallocatesrevenuesinterestinthispartnership.NewmontSuriname whichtotalsthecompensationreceivedbyLLCisalimitedliabilitycompanyformedpursuant the partnership in exchange for selling the tothelawsoftheStateofDelaware,UnitedStates partnershipsgoldproductionattributabletoeachof America.partnerinproportiontoitsrespectiveparticipatinginterest.StaatsoliesmaximumexposuretolossTheSurinameGoldProjectC.V.encompasses fromitsinterestintheSurinameGoldProjectC.V.theexploration,developmentandexploitationof partnershipequalstheannualcapitalcontributions.thegoldmineMerian,whichisagolddepositlocated in the eastern part of Suriname close to theTheGroupsinterestintheSurinameGoldFrenchGuianaborder.SurinameGoldProjectC.V. ProjectC.V.isaccountedforintheconsolidatedcommencedcommercialgoldproductionin2016. financialstatementsusingtheequitymethod.ThesummarizedfinancialinformationofthejointTheSurinameGoldProjectC.V.partnershipis venture(JV)andreconciliationwiththecarryingfinancedthroughmonthlycashcalls(operational amountoftheinvestmentandshareintheprofitofandcapitalcontributions)whichisthemechanism theJVintheconsolidatedfinancialstatementsaretofundapprovedoperatingcostsandcapital setoutbelow:(X US$ 1,000) 2019 2018Summarized statement of financial position of Suriname GoldProject CV:Currentassets,includingcashandcashequivalents$30,366176,950 199,534(2018:$39,988)andinventories$79,546(2018:$81,664)Non-current assets 1,009,211 1,046,059Currentliabilities,includingaccountspayable$16,259(2018:$23,370) (88,229) (76,895)andduetorelatedparties$46,692(2018:$26,095)Non-current liabilities (42,089) (36,706)Partnership capital1,055,843 1,131,992 Proportion of the Group's ownership 25% 25%Carrying amount of the investment 263,960 282,99784 STAATSOLIE 2019 ANNUAL REPORT"