b"STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2020 (Continued)4.4 CAPITAL INVESTMENTS IN JOINT ARRANGEMENTSCapital investment in joint ventures TheSurinameGoldProjectCVpartnershipisfinancedthroughmonthlycashcalls(operationalSuriname Gold Projectand capital contributions) which is the mechanism On14November2014,Staatsolieenteredasa to fund approved operating costs and capital limited partner with an interest of 25% into theexpenditures. Each partner is responsible for partnershipSurinameGoldProjectCV.Newmont funding the partnership for its portion based on its SurinameLLC,asubsidiaryofNewmontMining participating interest. Corporation,isthemanagingpartnerwitha75% Monthlythepartnershipallocatesrevenuesinterest in this partnership. Newmont Surinamewhich totals the compensation received by LLCisalimitedliabilitycompanyformedpursuant the partnership in exchange for selling the tothelawsoftheStateofDelaware,UnitedStates partnershipsgoldproductionattributabletoeachof America.partner in proportion to its respective participating TheSurinameGoldProjectCVencompasses interest.Staatsoliesmaximumexposuretolosstheexploration,development,andexploitationof fromitsinterestintheSurinameGoldProjectCVthegoldmineMerian,andtheAreaofInterest partnershipequalstheannualcapitalcontributions.asdefinedintheLimitedPartnershipAgreement, TheGroupsinterestintheSurinameGoldwhich is a gold deposit located in the easternProjectCVisaccountedforintheconsolidatedpart of Suriname close to the French Guianafinancialstatementsusingtheequitymethod.border.SurinameGoldProjectCVcommenced Thesummarizedfinancialinformationofthejointcommercialgoldproductionin2016. venture(JV)andreconciliationwiththecarryingamountoftheinvestmentandshareintheprofitoftheJVintheconsolidatedfinancialstatementsaresetoutbelow:(X US$ 1,000) 2020 2019Summarized statement of financial position of Suriname GoldProject CV:Currentassets,includingcashandcashequivalents$62,771(2019: 226,508 176,950$30,366)andinventories$89,552(2019:$79,546)Non-current assets 971,563 1,009,211Currentliabilities,includingaccountspayable$13,895(2019:$16,259) (81,742) (88,229)andduetorelatedparties$38,772(2019:$46,692)Non-current liabilities (72,820) (42,089)Partnership capital1,043,509 1,055,843 Proportion of the Group's ownership 25% 25%Carrying amount of the investment260,877 263,960 (X US$ 1,000) 2020 2019Summarised statement of profit or loss of Suriname Gold Project CV:Revenue 821,781 734,085Cost of Sales (343,302) (296,903)Administrativeexpenses,includingdepreciation$117,813(123,928) (126,936)(2019:$107,987)Other Income (expense) 159 844ManagementFee (13,068) (13,366)Profit before tax341,643 297,724 Group's share of the profit for the year85,411 74,431 98 STAATSOLIE 2020 ANNUAL REPORT"