AUZ Chart, page-6893

An announcement pre Christmas is an educated guess - I posted a while back some of my thoughts re funding but to answer your query - the binding LG agreement would be the precursor for any funding structure to go ahead - if they were advanced in their negotiations (which BB & the Board have been saying for a while now) with the binding agreement signed you would assume the parties they are talking to would be trying to put together the members of a funding syndicate (who would also need to get their internal approvals) this could be possible by December dependent on how progressed the negotiations with any potential lead syndicate managers are.

Why the June 22 deadline? - There are a great many unknows with regard to the structure of any funding AUZ might obtain, there might be other conditions such as govt approvals from Qld e.g. state tax concessions that need to be organised/finalised , Federal perhaps NAIF that might be sought, documentation for funding of this nature would be complex with a lot of potential syndicate funders involved. If LG or another party was injecting equity or a overseas JV party was part of the deal FIRB approval would be required that would all take time.

So in summary - I'm hopeful for a pre Christmas announcement based on the continued statements re "advanced negotiations" and the timing of the LG agreement which would be a precursor to allow any funding structure in principal approved to proceed to the next stage.