The question is not what transpires between MAK & LCY - the transaction stays the same for MAK whether or not it goes through LCY.
What LCY has to give NMDC for 25% of Wonarah may be interesting - but i'll leave that to the LCY forum as i'm sure it will be well discussed over there! (probably some will suggest NMDC should pay them for the privelige!).
even the bottom figure of $20m + project financing is significant in the grand scheme of things for MAK. we sould see a significant re-rating after confirmation o the deal (as i've said before).
bayovar, page-15
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