What requirement were you referring to? I've re-read the...

What requirement were you referring to? I've re-read the announcement a few times and could not find any reference in it about CLA having to pay cash for anything in this deal?

As far as I'm concerned, this is a transaction in which CLA is "selling" a portion of their interests in the MCB project (along with the associated subsidiary), in exchange for a cash injection into CLA + cash for developing the MCB mine itself. It is essentially a "farm-in" agreement, with CLA being the "farmor" and Sodor Inc. being the "farmee". Deals like these do not usually require the "farmor" to contribute cash.

If you're referring to the AUD$8.2m figure that's in the announcement, that is actually cash that will be received by CLA for the sale of shares in the MMCI subsidiary that controls the MCB project to Sodor Inc.

Now about CLA's current cash position. I estimate that we should have between AUD$5m - AUD$6.5m, without accounting for any further outgoings since December end. AUD$1.75m (from December end qtrly) + AUD$3.5m (AIM listing) + "up to" AUD$1.5m (Lind partners deal).