"With all that said the cash position looks to be around $16m at July 2018. Given they will need working capital to fund the first month or two opex before sales revenue – there is not much buffer there ... "
USD115m in Stage 2 financing becomes available after completion of Stage 2 DFS and FID.
Some of this will undoubtedly be used (if necessary) for operating cashflow until Stage 1 becomes cashflow positive in Q4CY2018.
Then of course, there is the balance of Stage 2 SC6 and SC7 still available for negotiation which KB could cashflow compensate in dealframing.
Many options and a long way off.
This will be interesting, page-18
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