They were unable to secure finance as the 100% owner. By selling to a partner they are free carried for most of the project and have a cash runway to put into their share of capex. Because of these derisking moves they are now much more likely to be funded for the remainder as far less is needed. 30% of something is better than 100% of nothing. = the positive spin.
Ann: Sale of 70% of Mozambique graphite assets for A$17m cash, page-15
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