Ann: Commonwealth Government supports Nolans with US$533m package, page-102

In a nutshell a large one. ARU now have their backs covered by the largest institution in Australia being the Federal Government - the wealthiest woman and possible mining person in Australia and all the Tier 1 global Governments of Korea, Canada, Germany and more surprises to follow - Tier 1 off take global companies - which in turn fully derisks ARU and Nolan's Mine Development.

The government debt facility has clearly identified all criteria through long held discussions with all parties and in doing so has removed the concerns of other debt providers to now facilitate closure of those remaining finance negotiations and off takes. The well crafted cost over run facility and most importantly the large facility to ensure rapid scale to full production to provide debt providers substantial confidence to sign off.
If all the USD550 million is realized very near term combined with the USD333 million Aus Gov facility ARU have in the vacinity of AUD 1.34 billion. Remarkable and even more so given the there remains the over run debt facility and the large debt facility for full scale production ramp up.

The terms of the huge Gov facility are significantly more favorable than that of any commercial financiers/banks/ah's.
The huge Gov facility significantly reduces the equity component - perhaps to as little as 300 million which would already have assurances from the likes of HP and other and retail components - maybe even less if Kexim financial arm in Singapore or Hyundai provide some capital as discussions have been ongoing - and any surprises.
China's obstructions are now a thing of past. Unfortunately not for others - which could/will in time see ARU take full advantage and process more OZ concentrate in future years.
Future shorting post commissioning in 2 short years will now be based only on PrNd pricing - good luck with that in coming years short ah's.
That last SPP was painful - now we see why. With COH to move fast from now to commence full construction - so looking forward to pics and commissioning day.

The $1 party. Interestingly through all the doom and gloom when the renewables sector was hit hard and ARU in particular a few here were steadfast in stating $3 in 4 years. ARU will not be as significant as Lynas (whom are exceptional) in scale. But that matters not as ARU will be significant and will grow and what ARU offers today in SP gains is exceptional to that of Lynas. Dividends - don't hold your breath - huge debt facilities to reduce and expansion capital required.

Much to look forward to in coming weeks - few months to wrap up finance and off takes then much to look forward to in construction and commissioning whilst observing how China continues to act out critical minerals export bans and RE refining tech export bans - wow that huge POSCO deal must have them pissed. Regardless ARU have the monies required now and the Tier 1 end customers.

Pfffft 22.5c. It was around this a few months ago in Dec prior to the SPP when we had high risk. Give it time and some confirmation on remaining financial and off take closures.