Ann: Leo Lithium Investor Webinar Presentation, page-76

Part of the problem with dealing with management from companies is poor or unclear communication or just leaving out valuable information.

What I gathered from the call (if I understood correctly), is assuming that Leo maintained 26%, any future funding for capex/expansion would have to come from Leo/Ganfeng only and Mali wouldn't have to pay anything. Therefore Leo/Ganfeng who would own 65% would have to put up 100% of the cost to fund future capex/expansion, and that's what makes it financially unviable for Leo.