Saiki and Sasako - 50% of what?

One current exchange brewing in Solo news cyberspace is between Alfred Sasako and an online letter to the editor-writer called Saiki. 

Others have now jumped in to back either side (eg here and here), and some egos may come into play, but at its is crux is one important issue: when Kelvyn Alps and Pheonix (and Sasako) talk about a 50/50 split with landowners in the proposed alluvial mining venture, what are they splitting?

In other words, 50% of what? Saiki's query was: "after the gross revenues before deducting any cost and expenses of the operations or on the net profit after tax?"

This would seem to be a good thing to clear up from the get go...mining is the new logging, and like the old logging, who gets exactly what and how is the $1 billion question.

Watch this space....Alp's answer should teach us a lot - especially if it is silence!