Ann: MHM US Site Selection and Incentives , page-51

Also my 2c on the funding is this:

$25m is chicken feed. If some ASX listed explorer can raise that kind of coin to go dig holes in Africa then we will have no problems.

If it is constructed over 1 year we will be able to utilise income/profit from the Aussie operations to fund some (say $5m). We don't need the whole amount upfront.

Secondly we have option conversion (say another $5m)

Thirdly, you can get a loan secured against the land and the building (at lower rates)

Fourthly, add in incentives

Then raise the rest as a business loan at slightly higher rates. (<$10m IMO).

Also dont forget that because the property already has a building on it some of the costs may be able to go through the books as "maintenance and repairs". I.e. directly offset income, instead of having to capitalise the costs over time.

Same thing happened in Aust plant (IMO)