Mac, I did not read it that way. Extract 1 below suggests that the potash is considered a by-product and is produced differently to KLL and hence is "more robust".
Extract 2 suggests, when the article is read in its entirety, that there is no real problem with financing via NAIF and likely not with the 110m from Export Finance Aust.
BUT, I do think that we need an urgent Update from the co given the uncertainties created - it must, by definition, affect the sp. I think though there is smart money which is coming in at a certain point - if so, it suggests this co is "on course".
Extract 1: Lenders believe Mardie will be more robust than the failed sulphate of potash projects of Kalium Lakes andSalt Lake Potash, because Mardie’s potash will be a byproduct of the high purity sodium chloride that BCI will produce by evaporating seawater.
Extract 2: The Kalium Lakes collapse comes as NAIF mulls whether to honour a pledge to lend a further $490 million toward the $1.629 billion Mardie salt and potash project in Western Australia.
The office of Resources and Northern Australia Minister Madeleine King’s said the facility was working effectively and was supposed to fund higher risk projects.
“The NAIF has made over 30 investment decisions generating around $29 billion in economic benefit, supporting thousands of jobs across northern Australia.
(20min delay)