Agreed, the new shares are not to do with raising $5m, they...

Agreed, the new shares are not to do with raising $5m, they could do this anyway with eas piece of cake.
It's there to give the JV partner a stake in Lwp so they have a significant I treat in driving up the shareprice also. They will spend more than this getting set up.

That makes a lot of sense.

How's an announcement which goes "JV partner will take a 880m placement of shares in LWP and also commits to spending $50m retrofitting 10 bauxite plants globally to double world ceramic propant production capability"

Be still my beating heart!!!

Thanks for such an informative reply.