Yep, I think JC is also aware of risk that if they don't back...

Yep, I think JC is also aware of risk that if they don't back financing then project may not proceed and thus they might loose 100 mil + previously made smaller financial expenses.

Like DDTRH pointed out and I agree, we probably would secure max around 1bln guaranteed/backed loan, but then we have to find 1bln according to 65% share and that would be catasthropic. First comes announcement that JC don't back extra 15% and ARL has to find finances. SP would sink like an anchor in the sea. Best case scenario, we should issue around 3bln shares and then comes question, who wants to buy these shares because dilution would be out of this world.

JC won't back extra 15% was just hypotetical scenario. I'm sure it's already decided and agreed between parties. And thus it's a great great deal. We have also discusssed that ARL might end with 40% of the hub but we will be equal partners with JC which already shows this deal actually in some cases exceeded our expectations. That deal makes it great, because we don't have any money. With 0 money and very vulnerable for 90% scavengers we like came back from dead - best imaginable partners and no dilution. Should be naive to think we got robbed.