quarterly activities, page-18

Nozza8, Lcy has been in an awkward position since they overspent approx $1m on exploration costs at Mt Bevan. I guess this j/v set a budget and I would think Lcy as managers would have been required to work within this budget.
Its' a bit late to be running to your fellow joint venturer
after you have overspent, it just proves your incompetence as manager. Perhaps they have been too embarrassed to formally invoice Haw for 40% of the costs involved.
The fact that they did overspend was of course observed by NMDC if we are to believe the reports that followed an obvious leak from NMDC.