RE:RE:RE:Metals House IncLambo-
I think if you go through the links that were recently posted by Ahsineeg, and read between the lines, the purpose of the sub is clear.
Looking at the April release, it is clear that the intention was that the exploitation of the stockpiles was supposed to be a JV between LME and an outside party-51/49 so they formed that sub with the idea that the shares would be owned in that 51/49.
However, for one reason or another, by the time of the July release, it was decided that it should be 100% owned by LME.
The fact that they did not follow-up with using that is, presumably, the result of the increased construction costs that Steve cited.