What makes this so sad is that we're not actually gaining...

What makes this so sad is that we're not actually gaining anything from this transaction other than preventing Leo from losing everything. Give 5% to Ganfeng, receive US$65mil from Ganfeng, and then hand that over to Mali, just so we get to keep 40% (for now).

I assume the settlement amount to Mali is going to be US$65mil or more because as per the quarterly, Leo will have AUD$60mil + in the bank this quarter, so if the settlement was only going to be a few $ million, Leo wouldn't have needed a way to raise US$65mil.

To bring this to an amusing conclusion, as others have noted already, it would be funny if Mali use the US$65mil + (I assume) we will be giving them to help buy their 10% stake, which will go back into the JV which is 60% owned by Ganfeng (which is where the US$65mil money came from)......

I hope we don't find ourselves not actually fully funded in the coming weeks/months and therefore either having to sell another 5% or capital raise at whatever crashed price we'll be at (I'm expecting 10 cents).....