OK, I'm trying to follow you. Where do you see that Arena has only 65% of the SDLP Project? It would make sense that prior to their most recent CAD $10 million offering, they would have had 65%, because Ganfeng had the other 35%. But this new offering is largely going toward the final purchase of the SDLP Project. I don't get why you would think that LAC wouldn't have a direct interest in the SDLP considering their part of the money is going toward the project, and the Ganfeng/LAC relationship suggests that they would be developing the project together. Providing that LAC's interest in Arena is the sdame as Ganfeng's, then I think my previous math holds, but I'm open to counter arguments.

Interesting discussion because this will be a part of LAC's future and it's nice to try to understand it.