My understanding is the "major" will be contributing cash...

My understanding is the "major" will be contributing cash component for a share of the Cockburn project only.
For example if total Capex cost is 100 Million, then 45% of this would be 45 million.
They then get 45% of the total production from the project.
I could be very wrong and mosy probably is, buts thats how i understand it.
Landzt in his post makes a fair point, how can they effectivly give 45% of the company to the "major" in shares, without share holder approval, there would be a absolute uproar, in particular from the major shareholder i would think.