General Discussion, page-3456

Look at it another way

If Ganfeng paid us $130m for 50% of Goulamina, and it went into Leo's bank account, I think most would agree it cost Ganfeng $130m for 50%
Then both parties as 50/50 owners contribute $127.5m each to the capex ($255m total)
Our share of the capex is fully covered without the loan or extra cash injection

But that didn't happen, they paid the $130m into the JV account - half is theirs
So we now need the loan and also have to fund the shortfall to make up our share of the $255m capex.