Mr. Paul Maloney:

That took place at the meeting on 20 October. If the Deputy looks at that meeting, for the first time we were saying: "This is too high for us. Our risk is too great and we will now reduce our take." It was called mitigation of risk. There were four ways in which we could mitigate risk, but the biggest way was to drop from 50% to 26%. When I proposed this to our joint venture partners, I did not believe they would accept it. I believed it was a deal breaker. They accepted that they were going to take 74% of the risk; that really astonished me.