You are quite correct that they need finance, but the whole point of this presentation is to demonstrate that the project has POSITIVE ECONOMICS and is therefore an attractive proposition for project finance by a bank (assumedly with some additional equity - in all their recent announcements they continue to refer to debt & subordinated debt).
I have increasing confidence that the project WILL be funded soon, and then we know the potential share price appreciation based on this analysis.
I DO NOT favour a joint venture on the development at this point unless there is some unknown issue occur.
siana presentation and red sp, page-3
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