Ann: Cabinda Phosphate Fertilizer Project Funding Update, page-170

Right now, the Sovereign Wealth Fund buying in is the best thing that can happen for the company and its shareholders.
It satisfies one of the three IDC loan pre-conditions. The offtake and Angolan loan for working capital are the other two.
The extra dilution you keep going on about allows the project to go into construction and importantly another US$4mill extra allows a doubling of production through stage 2 expansion.
The Sov fund wont buy to flip so this won't be the usual case of some sophisticated investors selling after the cr and retail investors selling in case the sophisticated investors sell it. The sp is more likely to climb without any of that selling pressure and the fact that that equity allows construction to begin should keep the sp moving higher.
US$10mill or $15mill is fully expected and more than priced in.
The upside in production is not measured in percentage from here, it will be measured in multiples and this won't be a 2-3 year major construction, it is 8 months. Not long to wait for earnings in line with the current market cap.
The sooner the Sov fund comes in the sooner we will see much better and more sustained share price gains.