Red, I think you are dead right, and also within Africa it's not...

Red, I think you are dead right, and also within Africa it's not only the governments that make money, it's the generals in power also, though most of that is never disclosed. This is just the way that Africa rolls, and especially juntas and dictatorships. In any event, yes Simon indicated at the meetings that he believed it most likely the government will take up it's additional 10%, they can also smell the money from being Africa's first Lithium mine at scale, and especially with global professional entities like Ganfeng involved. Leo's stake will still be sizeable at 40%, and very profitable, though I would personally have wished to see their stake at 60% as a minimum, with the government at 10% and Ganfeng at 30%, this would have made me more comfortable, but I think perhaps the previous management's negotiations with Ganfeng resulted in Leo caving in somewhat, and probably selling too great a stake at too small a price. Anyway, it's done now. Perhaps eventually, Leo might buy the FFX 17% and distribute those shares as a special dividend to Leo shareholders.

Gw