i think the post means:
20m owed by jv to alara
jv earns 20m, 51% or 10m is "owned" by alara.
jv pays 20m to Alara
the 51% or 10m is gone
net 10m gain by Alara
of course, cash is king (relative to receivables) and directly owned by Alara in the Alara bank account is important (relative to cash sitting in jv account).
so while it is technically 10m net
the market will value it as 20m if and when received
Ann: Production commencement at Alara JV Copper-Gold Mine in Oman, page-485
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