IMO TNG have finance solutions on the table, or at least Gresham do on their behalf.
Risk is certainly a factor and so are all the inter-dependencies.
The funds to make TNG happen are coming from different sources and are different modes. e.g. debt finance, equity placement, structured leases etc. Can you imagine the each party and their conditions for investing into TNG? Most is likely subject to confidentiality agreements. besides it's too much detail for the market to understand.
NAIF made it very clear in the recent senate inquiry.. They are waiting on projects to be ready to finance.
Don't forget they are a funder of last resort so will be the last one's to put there money in.
Best to wait for the final solution and then publish it.
Cheers
Finance Broker
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