Ann: REx signs Letter of Intent with Nittetsu Mining, page-20

Yes. RXM wants a third partner if they can't agree on terms, presumably at a better price, Nittetsu can take on more.

One aspect of the deal not being highlighted is that being Japanese. Specifically, Nettetsu helping procure the funding package. Japanese debt funding is attractively priced given they have negative real long-term interest rates (and currently no move to change i.e. holding fast to the policy). https://apnews.com/article/japan-economy-rates-interest-boj-e2deca211671f14f1f3d6277ed3ad3bb

It's the reason they find our insurers so attractive.

REX management has worked hard on this and need to be given credit (no pun intended).

All IMVHO.