Well there are numerous different types of JV arrangements some...

Well there are numerous different types of JV arrangements some with 50:50 type arrangements, some with companies set up and others without a company set up, some set up as a partnership type arrangement to run an asset etc.. At the AGM (if my memory services me right) JB referred to super majority and and super minority shareholders and protection mechanism that prevent the capital structure changing to the extent that the minority shareholder would be diluted out of existence ( that's what's available to the public) The issue at hand here is that previous poster referred to mechanisms in a shareholders agreement that would effectively allow a minority party to have veto over a majority party. NAL is 75:25% owned (SYA are obviously a super majority shareholder). I just don't believe this, as SYA are not in a in a corporate type JV arrangement, it's not a partnership type arrangement 50:50 holding etc. This guys might be trying to pick up 'likes elsewhere' to try and give himself credibility, but it won't change the reality unfortunately. Ee had posted here saying the trade off agreement was evidence of a veto, the trade off agreement is a due diligence process and part of a final investment decision which PLL Will be invited to cast their vote. Its only a few months away at this stage now