Maybe it's just me, (I am not a lawyer or an accountant or a CFA) but I think that the preliminary info could have been a little clearer in addressing the treatment of the 500 million we've invested so far and explaining what we are getting in return for 2/3 of the MOC.

Z -- that is really the issue -- this is complex stuff. (I am an attorney and CPA), and it takes a lot of time to go through the detail in this sort of transaction to determine what is legitimately assigned to costs in support of the MOC and what is not. China Railway would be stupid to just accept some number like $500 million, and I can assure you that they are not stupid.

The exciting part about the deal with them is that CR has tons of money, influence, and is the largest construction company on the planet -- BUT they have zero mining experience. Highly symbiotic.