Ann: POSCO Transaction Complete, page-130

"effectively it is a down payment on the tax liability that we will have to pay"

So they had to pay some tax...  the $9m spent already was PART OF what was ultimately due.

I'm not so sure that someone pocketed a few mil... (as some here may be implying!) 

...You either trust that the CFO got his sums right or you don't!   Sure, they haven't spoon fed us the sums...  it's all good imo.


Let's focus on what's important -  Cashed up!!!

Bring on the JV detail!