Thanks, despite the tone I appreciate you digging that up - but...

Thanks, despite the tone I appreciate you digging that up - but it genuinely raises more questions than answers for me and honestly what's the point of the forum if you can't ask for other people's experience and opinion on things. I wont take all comments as gospel but appreciate your concern.

The piece you underlined was what I wasn't sure of, and it makes no sense to me how Leo and Ganfeng lending money to the government makes sense as part of a transaction for Mali to obtain 10% of the project with reduced funds for Leo.

So is this how it works?

1. we Loan them fair market value for 10% (say $100m)
2. They purchase 10% and give the $100m back in exchange for equity
3. They slowly pay off the initial loan without interest

Is the repayment then in the form of cash, or tax concessions? Still unclear to me

Seems somewhat logical to me but doesn't account for reducing Leo's funds. Keen to hear others' thoughts (if that's allowed)