today's the day, page-27

Kruiser the funding for capex for production is a completely different beast. Essentially today's announcement just means a large company has bought a heap of shares in return for cash. The bank funding is simply debt funding like a home loan, with a mortgage over the assets. As they keep saying, the extra 30% or whatever they hope will come from offtake agreements. Think of it as "pre-selling" the coal. Someone who wants to ensure they get first crack at the supply before any competitors do may offer cash if they want to be the chosen bidder.

I'm sure the company is trying to keep its options open, and at the same time the offtake partners would not be able to source their own funding untiul they have our BFSes to take to their bean counters for approval. I'm also sure they will do the best thing at the time.

For example, I'm sure they could have gone and sourced enough funds to completely cover the entire York purchase plus the 30% for the capex requirement and more, but they have chosen to take this path because it's the best one to take.

Who knows, we might not need to go to market for any funding whatsoever going forward...