Ann: Poseidon and Aphrodite Move Closer to Gold Production, page-133

Yes, because it's a convertible loan to them, there are no risk to them, if the JV doesn't go a head, KDR re-pay the loan in KDR shares (as indicated by the announcement). But if it's conditions precedes to the JV, then SQM will need to have same control of the $80M USD and $30M USD as they will now be JV (and key point are these are cash payment and nothing to do with the convertible loan and these also haven't been defined as "expenditure contribution" as you keep highlighting), hence SQM outline what KDR can do with these funds.

So we might still be flea/parasite.....I am actually more confident given KDR has now secured these funds which is more enough to refurbish LJ.........

"Once the conditions precedent to the JV have been satisfied, the balance of the US$80 million and the US$30 million payment to Kidman will be made by SQM"

"Under the letter agreement, in consideration for the acquisition of a 50% joint venture interest in the Mt Holland Lithium Project, SQM will make an initial cash payment of US$30 million (A$40 million) to Kidman and will also commit to sole funding an amount of US$80 million (A$106.67 million) to fund development costs in relation to the project. This funding will be directed towards:

1. completion of Feasibility Studies in respect of the Mt Holland Lithium Project;
2. the development phase of the mine and processing plant on site;
3. the construction phase of the mine, processing plant and associated infrastructure; and
4. the design and study phase of the refinery plant. "