progress statement, page-2

to poke just one hole in the post from VLAD how can you sell 50% of the project yet then receive 100% of the revenue. Bizarre. Especially when SDL dont even own 100% of the project now. If a partner owned 50% of the whole project, SDL's stake would be down at approx 30-35%. Say 10-12 mt of ore production per annum.

AND, SDL have stated numerous times that the introduction of a partner will cover SDL's share of project equity, therefore there will be no need for a massive issue of shares (2.4 billion as you assume) almost douibling the amount of present shares.