The price is even better when you consider that original 5%...

The price is even better when you consider that original 5% effectively gave Ganfeng control of the JV. There should be a premium for this control. We've sold the next 5% for virtually the same price.

This latest 5% merely takes them from 55% to 60% and as Karl pointed out because the Government can go to 20% ownership that extra 5% Ganfeng get is diluted down to 4%, so we're selling effectively 4% for the US$65m.

I also agree with other posters who point out this has only just been approved by the Ganfeng Board, so probably still has to go to our Board for approval. If we were trading I suspect they'd go into a Trading Halt while this was finalised - no different to a TH while a Cap Raise is negotiated.