the word ownership is not there, but the immediately preceding...

the word ownership is not there, but the immediately preceding paragraph - all of one sentence - is about Hancock's change of ownership to 51%.

The next line you have circled has admittedly problematic English language usage (perhaps a comma between fund and further would have helped).

Despite the poor language usage, it suggests that Hancock will (sole) fund with the implication of increased ownership of the JV to 70%.

For, it is clearly not talking about the grade of the ore being processed to 70%, here, but rather the paragraph is explicitly about Hancock's 'move to 70%'.

So, these coys owe us a clarification. I am still waiting for my call to be returned.